Monday, March 23, 2015

Homework Due Tues. 3/24

 1. The unemployment rate in the country of Southland is greater than the natural rate of unemployment.

(a) Using a correctly labeled graph of aggregate demand and aggregate supply, show the current equilibrium real gross domestic product, labeled YC, and price level in Southland, labeled PLC. The president of Southland is receiving advice from two economic advisers—Kohelis and Raymond—about how best to reduce unemployment in Southland.

(b) Kohelis advises the president to decrease personal income taxes. (i) How would such a decrease in taxes affect aggregate demand? Explain. (ii) Using a correctly labeled graph of the short-run Phillips curve, show the effect of the decrease in taxes. Label the initial equilibrium from part (a) as point A, and the new equilibrium resulting from the decrease in taxes as point B.

(c) Raymond advises the president to take no policy action. (i) What will happen to the short-run aggregate supply curve in the long run? Explain. (ii) Using a new correctly labeled graph of the short-run Phillips curve, show the effect of the change in the short-run aggregate supply you identified in part (c)(i).

Monday, March 2, 2015

Ch. 15 Reading Guide

Due Tues:

1.  Study the roles/responsibilities of the components of the Federal Reserve from today's class.

2.  Define each of the  Federal Reserve's monetary policy tools:
a.  Open-market operations
b.  Reserve ratio (requirement)
c.  Discount rate

3.  Define easy money policy and tight money policy.

Due Wed:

1.  Graph the sequence of events that transpire when the Fed implements monetary policy.  Use a money market, investment demand curve, and finally an AS/AD diagram.  Complete this task for.
a.  Easy money policy starting at a recessionary gap
b.  Tight money starting at an inflationary gap.
Textbook page 279 will assist you with any problems.

Due Thurs:
Not in your textbook.  Be resourceful! 

1.  Who was Milton Friedman and what were some of his popular ideas/theories?
2.  Explain "Monetarism"

Friday will be a catch up/summary/review day.  The Monetary Policy Exam will take place on Monday, 3/9.  This test will include elements of Ch. 13, 14, and (primarily) 15.  You will need study for this one.  Start early.

Wednesday, February 11, 2015

AP Paper Submission Instructions

Instructions for Papers Due by 8am on Mon. 2/16

In order to register for you will need an active e-mail. If you do not have an e-mail account, make sure you create one BEFORE you attempt to sign up; I suggest G-mail, but any provider will work.

Go to

  • If you already have an account, sign in at the top of the screen. Once you are in, click “I agree” and then “enroll in a class.” Enter the class information as listed below.
  • If you already have an account, but have forgotten your password, you can either “Create Account” or “Retrieve Password.”  If you click “Retrieve Password”  a link to reset your password will be sent to your e-mail address; you will have to reset this from home as the school does not have access to e-mail.
  • If you are new to Turn-it-in please click “Create Account” and on the next page select student. Fill out all the information including the class information listed below. Make sure you click that you are over 13 and click “I agree.”

After you are registered, you can submit assignments. Please click on your class. You should see an assignment named Extra Credit OR Incomplete Assignment.” Click “Submit.” 

            Give your submission a one word title and click on the browse button to choose your file

            Your essay must be in one of the following formats:

MS Word, WordPerfect, PostScript, PDF, HTML, RTF, and plain text.


When you see your unformatted essay on the screen, click yes, submit.

IMPORTANT: does NOT accept “Works” files.  If you are using “Works” at home, you must save the file as an “RTF” or “TXT” file.  When you go to save your file, make sure you click the “File Type” drop down under the file name and choose one of these formats.  Not being able to upload because of the wrong format is NOT a valid excuse. It is STRONGLY suggested that you complete all work on Google-Docs and use Google Drive.

If you ever have an issue with Turn-it-in when a paper is due, you must bring the file saved on your jump drive to class.  Computer issues will not be considered a valid excuse without these.  You may still submit a paper copy prior to February break. 


Class Information



Turnitin class ID:                       9524168
  AP Eco Period 2

Turnitin class enrollment password: apeco2




Turnitin class ID:                       9524177  AP Eco Period 3

Turnitin class enrollment password: apeco3



Turnitin class ID:                       9524185  AP Eco Period 6

Turnitin class enrollment password: apeco6


If you have any doubt about whether your paper was submitted properly, you should email me a copy of your paper.



Turnitin class ID:                       9524189  AP Eco Period 9

Turnitin class enrollment password: apeco9

Monday, February 9, 2015

Ch. 13 Reading Guide

Due Tues:
1.  Identify and explain each function of money.
2.  Explain how US currency meets each function.

Due Wed:
1.  What is liquidity?
2.  Determine what parts the of money supply are classified as M1, M2, and M3.

Due Thurs:
1.  What determines the size of the nation's money supply?
2.  What are the three types of money demand?  Illustrate the money demand curve for each.
3.  Create a properly labeled example of the money market in your notes. 

FRIDAY:  Multiple Choice Quiz (25 pts)

Monday, January 5, 2015

Ch. 9 Reading Guide

1.  Define consumption schedule.
2.  Define savings schedule.
3.  What do the average and marginal propensity to consume tell an economist?  What are the formulas for the APC and APS?
4.  What do the marginal propensities to consume and save tell an economist?  What are the formulas for MPC and MPS?
5.  Identify how an increase in each of the following would impact C and S: (you should remember this from AS/AD).
a.  wealth
b. price expectations
c  real interest rates
d.  household debt
e. taxation*

Tuesday, December 16, 2014

Everyone learned about the ruthless "robber barons" in US history.  Perhaps you have even read the article linked below (it is one of my favorites).  This time we are going to explore it from an economic perspective.  Please print out a copy of the article and bring it to class on Friday complete with your notes and underlining.  This promises to be a good discussion.

To consider when reading and responding to the post:

1.  What is the traditional view of 19th century industrialists?  Where did this view come from and to what extend is it inaccurate or inaccurate?
2.  What view does Klein attempt to put forth as a challenge to this view?  What evidence is used?
3.  Think back to your own history education?  How was the topic of industrialization treated?
4.  Pick one or two of the individuals profiled in the article and detail the alternative view of their contributions.
5.  Think about the current popular view of large banks, corporations, and billionaires in our society.  Is our current disdain for these groups any different than the popular caricature of robber barons?

Good luck.  I really like this article, so read carefully.

Fed. Challenge Application (You Know You Want To!)

Answer and submit to the blog before we leave for the holiday break if you would like to be considered.  I WILL NOT be posting responses.  It is just for me to read.  Remember that I can only select 5 students!

1.  Why do you want to be part of our Fed. Challenge team?
2.  What is one aspect of our economics class that you have enjoyed and found valuable so far this year?
3.  What particular strengths do you think you would bring to our team?
4.  Are there any days after school where you would not be available to meet?
5.  Are you available for all possible competition days including 1/28, 3/12, 3/17 and 4/16?
6.  How many days have you been absent from school this year?
7.  Anything else I should know or consider?