Thursday, September 10, 2015

Chapter 6: Section 3

Background note about price:  Apple introduced a black version if its popular iPod in the fall of 2005.  It was technically identical to the traditional white version and sold for the same price.  Inventories of the black version were quickly depleted, while the white iPod remained in stock.  Apple continued to sell both versions at the same price.  The company reacted to this price signal in a different way, however.  When it introduced its new laptop computer, MacBook, in the spring of 2006, the white machines sold for $1349.  The identical black MacBook cost $1499.
Assignment:
  • #2: Prices often act as signals.  Describe how prices acted as a signal or an incentive in the last two major purchases that you made.
  • #5: Why do buyers and sellers conduct business on the black market?
  • #7a: What is the quickest way to solve a shortage?
  • #7b: What is the quickest way to eliminate a surplus?
  • #9: Describe three market problems that prevent efficient allocation of resources.
  • #10: Look at the illustrated "Economics & You" feature (p.153) on profit incentive.  List additional examples of how the desire for profit motivates people.
  • Do you agree or disagree that incentives motivate people's actions?  How do incentives affect your daily life?

Friday, September 4, 2015

Labor Day: The Economic Origins of a Holiday

Note: Monday is Labor Day!  Three day weekend!!!  But what is "Labor Day" about?


Labor Day is today considered a day for relaxation, BBQ's, and a nice day off of work.  But where did it begin?







Thursday, August 13, 2015

Young Politicians of America

Mr. Miles and Mr. Griffith will be starting a "Young Politicians of America" club at Jellico High School.  We will have regular meetings, discussions, debates, etc.  We want to build political awareness and encourage involvement in community issues and political discourse.

YPA is a nationwide, nonpartisan, 501(c)3 nonprofit organization dedicated to creating youth political awareness through community service.

http://ypa.org/home.php

The "About YPA" page says:

The Young Politicians of America is a service-learning movement composed of young Americans aged 14-22 working together to revive political discourse and awareness by establishing nonpartisan civic clubs in high schools and colleges. We deliver our services and spread our mission through our innovative Service-Chapter program. YPA also operates a networking group for graduates.

Driving this movement is a national 501(c)(3) nonprofit organization that has provided support, resources, and direction to YPA clubs since 1998. Over 2,500 members hail from all 50 United States and more than a dozen countries.

Q: Why are you called the Young Politicians of America?A: We understand that “politician” is a loaded term in today's political climate, and this is precisely why we chose to incorporate “politician” into our name. It is crucial for young Americans to realize the scope of their future responsibilities. By considering themselves politicians today, the leaders of tomorrow will be guided by the formative virtues our program emphasizes—hopefully restoring nobility and idealism to the political profession.
Our “Young Politicians” practice politics in a nonpartisan setting of issue-related community service and relevant discussions/debates. They are expected to see themselves as public servants in their own communities, and to realize the effects of their own actions on their neighbors—their “constituents.”
Q: What is a Service-Chapter? What activities do they perform?

A: 
YPA Service-Chapters (also called Clubs) are established in high schools and colleges across America—ranging in size from fifteen students to fifty students. These YPA Service-Chapters combine community service projects and politically relevant discussions to understand the importance of government.
Service-Chapters meet weekly on campus and, together, show that the problems community service aims to answer are the same problems government seeks to solve. Too many young Americans have lost focus on the importance of government as a vehicle for change by instead solely concentrating on community service to make a difference. YPA Service-Chapters uniquely build upon existing enthusiasm for community service to shine light on the political context and consequences of students' actions.
Every Service-Chapter registered with the YPA organization must:
  • Meet weekly on campus to discuss political issues of the day, prepare for their community service projects, plan for debates and panel discussions, or organize fundraising.
  • Monthly, complete at least one service-learning activity in their community. Example activities are highlighted below.
  • At the end of every month Service-Chapters must report to the national YPA organization, summarizing their meetings/service activities and also grading themselves on a sliding scale. Teacher Advisors certify reports to ensure accountability and authenticity.
As mentioned above, Service-Chapter members must satisfy a monthly service-learning requirement and then relate their experience to government at the local, state, or national level. Example activities include (but are not limited to):
  • Volunteering at a local Senior Center segues into a discussion on Medicare.
  • A Creek Cleanup followed by a debate on environmental policy, the EPA, pollution regulations, and even fuel efficiency standards for SUVs.
  • Visiting a Veteran's Home lends light to the practices of the Department of Veterans Affairs and also touches on foreign policy decisions.

Tuesday, May 19, 2015

Finish "Maxed Out"

Yesterday we watched a piece of the 2006 documentary "Maxed Out" by director James Scurlock.  Scurlock originally set out to make a movie about the crazy spending habits of Americans, but after he started researching the issue and interviewing borrowers, he change his focus to the lending industry and the effects of deregulation.

The Washington Post called this documentary "a matter of life and debt" and sent on to say, "This swift-moving documentary is something all American high school graduates should watch... especially before they head to college and are asked to sign up for credit cards."

The segments we watched this week discussed how the lending industry "sells debt" to companies who go after those who owe them money.  It also covers the tragedy that can happen when people get so deep into debt that they can't see a way out.

Answer the following questions:
  1. What tactics do debt collectors use get people to pay?
  2. Why do debt collectors push people so hard?
  3. Why do some people resort to pawn shops?
  4. Who funds the largest check cashing chain in the U.S.?
  5. Do you think lenders are partially responsible for America's debt crisis?  How so?
  6. Why does your credit card company want you to be late on your payments?
  7. Why do credit card companies want customers who have filed bankruptcy?
  8. Why do credit card companies want 18 year old college students?
  9. Why don't Senators and Congressmen punish credit card companies for "predatory lending"?
  10. Discuss your right to privacy from individuals, corporations, and the Government.
About the Movie:  Answer these on the same page as the previous 10 questions
  1. What is your opinion of the movie?  
  2. In what ways did the movie change the way in which you look at money?

Tuesday, April 7, 2015

Credential

http://www.scsk12.org/uf/ctae/documents/resources/CTECourseCodes_13_14.pdf
http://www.tn.gov/education/districts/docs/ed2356_course_code_correlation_2015-16.pdf

Tuesday, March 24, 2015

Upcoming Test, Charts, and Current Events

We have a test coming up in the near future.  I will be asking you questions about PPF charts and questions such as:
  • What do economists mean by "efficiency"?
  • What are the "Factors of Production"?
I will also be asking you to identify items in various types of graphs:
For Example: How much more per year should you expect to make with a Bachelor's degree than if you only had a high school diploma?
Some current events involving economics:

The Fall of the Dollar as the World's Primary Reserve Currency:
http://www.moneynews.com/EdMoy/dollar-reserve-currency-economic/2014/07/23/id/584482/

How ISIS is exploiting the economics of Syria's Civil War:
http://www.vox.com/2014/6/12/5802824/how-isis-is-exploiting-the-economics-of-syrias-civil-war

Will Burger King move corporate offices to Canada?:
http://nyti.ms/1mFSS51

Yes, I paid $8.44 for a Diet Coke:
https://www.linkedin.com/pulse/article/20140823150555-20017018-yes-i-paid-8-44-for-a-diet-coke-the-ethics-of-pricing