Wednesday, March 11, 2009

March 11


I gave you back your Position Paper #1 today at the beginning of class. I also gave you back your Canada/USA Government Comparison Assignments. You also got your interim report cards today. We talked briefly about advantages and disadvantages of a centrally planned economy, and how a centrally planned economy would answer the basic economic questions. I gave you some summary notes on the Soviet Economy (Case Study 12), and other worksheets. Here is what's due and when:

  • Chapter 4 and Chapter 8 are due on Friday, March 13th
  • Case Studies 7-9, 12, 17 are due on Monday, March 16th


Other upcoming important dates are as follows:


  • the Market Economy/Mixed Economy Exam is on Monday, March 16th (see study guide below)
  • Position Paper #2 is on Monday, March 30th
  • Economics Unit Exam (command, market, mixed economies) is on Tuesday, March 31st




  • Chapter 6 (An Introduction to Economic Systems)
  • Chapter 7 (Private Enterprise)
  • Case Study #11 (the American Economy)
  • supply-side economics
  • boom and bust cycle/business cycle
  • laws of supply and demand, Adam Smith, invisible hand, market forces
  • self-interest, consumer sovereignty, competition, private ownership, profit motive
  • basic economic problems/questions (p.289)
  • advantages/disadvantages of the market economy (p.290)
  • causes of the Great Depression
  • FDR and the New Deal
  • Chapter 9 (Mixed Economic Systems)
  • Case Studies #14 (Sweden) and #15 (Canada)
  • nationalization
  • democratic socialism
  • welfare capitalism
  • Keynesian economics
  • the business cycle and fiscal and monetary policies (booklet that I gave you, and p.381-382)
  • supply-side economics
  • neo-conservatives
  • Thatcherism and Reaganomics
  • how Keynesian economics deals with a recession
  • how supply-side economics deals with a recession (see p.384-385)
We started our unit on economic systems today. We looked at the basic problem facing all societies: scarcity. We talked about the means of production, the basic economic questions, and the economic spectrum and the three main types of economic systems. I gave you some handouts on these topics as well as assigning homework from A Changing World, which most of you finished. Here is what is due on Friday: from Chapter 7, Getting it Straight Q1-6, and Getting Organized Q2 and Q5. Also, don't forget to review for your Dictatorship Unit Final (click here for the study guide) and your Political Systems Unit Final (click here for the study guide).

I finished off the PowerPoint presentation called "Allied Victory and the Paris Peace Conference". I have already sent this presentation to you, so please check your e-mail. Also, I gave you your next project, it's a Map of Europe in WWI. This map will be due on Friday. I have sent you a backup copy of the map, so please check your e-mail, just in case you made some mistakes.


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