We covered a lot of ground today. I returned your Unit 1 WRA II Essays at the beginning of class. I re-introduced you to the boom and bust cycle (the business cycle), and I talked about the various stages of the cycle (boom/prosperity, recession, depression, recovery) and what is happening in the economy at these various stages (I call these "economic snapshots"). Review these notes tonight! I also taught you about demand-side economics, and the monetary and fiscal policy responses to the various stages of the business cycle. I also taught you about the law of supply and demand. I also had you read some on Keynesian economics from your Social 30-1 booklet. You should have read, highlighted up to page 53 in your booklets.
After the break we watched two short documentaries from the BBC 20th Century History series, one called "Boom and Bust"(you should have answered the film study questions on this while you watched the documentary) and "FDR and the New Deal" (you should have taken notes on this one). You had the remainder of class time (about 1 hour) to work on the Chapter 4 Key Terms and Questions, which are both due tomorrow (or perhaps the Chapter 6 Key Terms and Questions, which are due on Wednesday). I also went through analyzing political cartoons. In tomorrow's class you'll be writing an analysis of a political cartoon that you pick out from the blackboard.
UPCOMING IMPORTANT DATES:
IDEOLOGICAL REACTION TO INDUSTRIALIZATION TEST STUDY GUIDE:
This test is multiple choice format. This test is on Wednesday, July 13th.
1. Please review material from these PowerPoint presentations:
2. Be familiar with key concepts introduced in Chapters 3 and 4.
3. The Industrial Revolution:
5. Key beliefs of the various ideologies (review the spectrums briefly); also review this material from the "Responding to Classical Liberalism" PowerPoint presentation:
MARKET ECONOMY AND MIXED ECONOMY EXAM STUDY GUIDE:This exam will be on Friday, July 15th
ECONOMIC SYSTEMS EXAM STUDY GUIDE:
This exam will be written on Monday, July 18th. It is a multiple choice question format test.
This is a comprehensive exam that covers all of the major economic systems: market economy, mixed economy, and command economy. It is 74 multiple choice questions.