The Circular Flow Friday, January 27 Class #5 The Economic Way of Thinking Supply & Demand QuickStart activities #1-#5 are due by Friday, January 27th at 5:00 pm. See posted on Blackboard under Modules QuickStart activities #1-#5 are due TODAY at 5:00 pm. ILA #1 is open. Part One is due at 8:00 am on 1/30 and Part Two is due at 5:00 pm on 2/3. Learning Objectives for Fundamentals – Week #2 Define microeconomics and macroeconomics. Identify the various resource categories used in economics. Define scarcity and explain its importance in economics. Identify the opportunity cost of a choice. Explain rational decision making. Define marginal benefit and marginal cost. Describe the relationship between marginal benefits and costs in equilibrium. Explain how resources are combined to produce output. Construct and interpret a production possibilities frontier. Calculate and explain opportunity cost a production possibilities frontier. Identify comparative advantage using opportunity costs. Identify patterns of specialization comparative advantage. Identify the of trade using comparative advantage. Illustrate the from trade in a production possibilities frontier model. Illustrate how increasing opportunity costs affect the production possibilities frontier. Model the flow of resources, output, and monetary transactions in a simple economy Week # 3 Day Class Topic Assignment Reminder/Information Monday, January 30 Class #6 Public Finance ILA #1 Part One: videos & questions due at 8:00 am. The assignment has been open for one week. See posted notes on Blackboard under Modules ILA #2 is open. Part One is due at 8:00 am on 2/6 and Part Two is due at 5:00 pm on 2/10. Wednesday, February 1 Class #7 Measuring the Macroeconomy GDP See posted on Blackboard under Modules Friday, February 3 Class #8 Online ILA #1 Part Two LearnSmart Achieve due at 5:00 pm. The assignment has been open for 11 days. ILA #1 Part Two LearnSmart Achieve due today at 5:00 pm. The assignment has been open for 11 days.
Monday, March 20 Class #24 Online Fiscal Policy Competing Views Blackboard Discussion Question ILA #6 Part One: videos & questions is due at 8:00 am. The assignment has been open for two No in-person class today! You have your fourth Discussion Board Assignment. This assignment, which counts as one of your 10-point Class Community Learning Activities, is only open for the 55 minutes during which our class would normally meet. ILA #7 is open. Part One is due at 8:00 am on 3/27 and Part Two is due at 5:00 pm on 3/31. No office hours today – Blackboard Discussion Question instead. Wednesday, March 22 Class #25 Fiscal Policy See posted on Blackboard under Modules I will hold extended office for you today from12-4! Friday, March 24 Class #26 Fiscal Policy ILA #6 Part Two: LearnSmart Achieve assignment is due at 5:00 pm. This assignment has been open for 18 days. See posted notes on Blackboard under Modules ILA #6 Part Two: LearnSmart Achieve assignment is due today at 5:00 pm. This assignment has been open for 18 days. I will hold extended office hours for you today from12-4! ILA #7 is open. Part One is due at 8:00 am on 3/27 and Part Two is due at 5:00 pm on 3/31. Learning Objectives for Fiscal Policy and Different Views of the Macroeconomy - week #9: Illustrate the effect of fiscal policy on equilibrium real GDP and price level. Illustrate the effect of fiscal policy on equilibrium level. Solve for the appropriate fiscal policy using changes in government purchases. for the appropriate fiscal policy using changes in taxes. Describe the role and function of automatic stabilizers. Describe the role and function of discretionary stabilizers Discuss the major limitations of fiscal policy. Identify different views of macroeconomic theory. Relate the different views of macroeconomic theory on decisions about the use of automatic and discretionary fiscal policy. Week #10 Date: Class # and Topic Assignment Information