Summary: We took some time to do another example of comparative advantage because I know that is an abstract concept.  After that, I talked about the WTO and NAFTA and showed a couple videos (can be found below).  Then, I finally was able to lecture a little bit about business cycles and monetary/fiscal policy.  I then showed another quick video about how the Fed actually “creates” money and how a fractional reserve banking system works.  I collected your homework on Trade as well.

Homework: TOMORROW  you have the Entrepreneurial Self-Test due.  Remember, I want you to print out your results sheet and answer the question, “What did the entrepreneurial self-test say about you?  Do you agree or disagree with its conclusion? Why or why not?” on the back.  Also, on MONDAY I want a written description of your product or service for your project.  It does not have to be the final version of what you would turn in with your project, just put in writing what you are going to do.

PowerPoint:

9 The Fed
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Videos: