Government/Economics

Summary: We completed an activity that demonstrated how trade makes everybody off. I then lectured a little bit about imports/exports and absolute/comparative advantage. I will continue the lecture on the WTO and NAFTA as well as clarifying comparative advantage tomorrow.

Homework: You have a worksheet (trade-and-specialization-hw) that I passed out that corresponds to page 174-75 in your Economics textbook. It is due tomorrow. Also, remember the quiz that can be found at this link (http://www.potentielentrepreneur.ca/). Complete the questionnaire and print off the last section that has your results. Please not, near the end it asks you a number of personal questions– you can put anything you want for that. It doesn’t have to be your actual information. On the back of the results sheet that you print out, answer the following question, “What did the entrepreneurial self-test say about you? Do you agree or disagree with its conclusion? Why or why not?”

Handouts: free-trade-activity-worksheet-and-notes

PowerPoint:

Summary: Today we finished our discussion of market and command economies. I collected the Naked Economics reading guide. Your unit test will be next Tuesday. Your quiz grades are online. I still need to grade your Market Clearing Price packets and the Naked Economics reading guides.

Handouts: None.

Homework: None.

PowerPoint: