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.








http://www.city-journal.org/html/5_1_a2.html

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?

Wednesday, December 3, 2014

The State of the American Retirement

Isn't it just like a teacher to give you an assignment about retirement before you have even started working?  I understand this subject may seem remote to you at age 17, but retirement system in America is a major component of our economy as well as a component of our social contract.  And that contract HAS changed over the past decades.  While Social Security still exists to replace some worker income in retirement, the corporate pensions plan one thought of a standard perk for a long and dedicated career, has gone the way of the dodo.  Read the three links below.  The first is an introduction to the situation that describes the contrast between defined benefit (pension) and defined contribution ( 401k) plans that currently make up the bulk of most America's retirement funds.  The other two links are to articles arguing, in on case, for pensions and for 401ks in the other.


You blog post should respond to some of these issues:


1.  What is the difference between pensions and 401k's?
2.  Where did the 401k model come from?
3.  When did the shift from pension to 401k occur and why?
4.  Are Americans  better off with a 401k of pension?  explain.
5.  Are most American's prepared for retirement?  Explain.
6.  What should young workers be doing to prepare for retirement?  And when?
7.  Do you think the current retirement scheme will provide security for you, your parents? 
8.  What do you think we should have in place as a retirement system?
9.  Compare to other countries?






Optional.......
http://www.thinkadvisor.com/2013/09/20/retirement-around-the-world-how-the-us-system-stac



Tuesday, December 2, 2014

Ch. 11 Reading Guide

Due Wed. 12/3


1.  Illustrate the aggregate demand (AD) curve. How does each of the following explain the downward slope of the AD curve?
a.  Real-Balances Effect (wealth effect)
b.  Interest-Rate Effect
b.  Foreign Purchases Effect (net export effect)


2.  Create a chart to organize each factor affecting aggregate demand.  Columns should include:  definition of the factor, illustration of increase, illustration of decrease.






Due Mon.12/8


1.  Illustrate the Long Run Aggregate Supply (LRAS) curve.
2.  Why is the LRAS curve vertical?
3.  Explain the significance of long run equilibrium (where LRAS and AD meet).
4.  Create a chart identical to #2 from Wednesday's assignment for the factors affecting LRAS.








Due Tues. 12/9
1.  Illustrate the Short Run Aggregate Supply (SRAS) curve.
2.  Explain the slope of the SRAS curve.
3.  Explain the significance of short run equilibrium (where SRAS and AD meet)
4.  Create a chart identical to #2 from Wednesday's assignment for the factors affecting SRAS.