Ch. 9 Reading Guide Due Monday 1/11

This chapter focuses on the math of Keynesian economics.  We will use different techniques to determine the degree to which fiscal policy ought to be used to fix problems at hand. 




Define:


1.  Consumption
2.  Savings
3.  Average Propensity to Consume
4.  Average Propensity to Save
5.  Marginal Propensity to Consume
6.  Marginal Propensity to Save


Identify the mathematical calculation for:
a.  APC
b.  APS
c.  MPC
d.  MPS

Ch. 12 Reading Guide: Fiscal Policy

Due Tuesday:


1.  Create a chart organizing Expansionary Fiscal Policy and Contractionary Fiscal Policy.  Be sure to include as column headings: economic problems necessitating each policy, how taxes should be changed to implement the policy, how G. spending should be changed to implement the policy, the effects of the policy on GDP, effects of the policy on inflation rate, effects of the policy on unemployment rate, effects of the policy on federal deficit/surplus, effects of the policy on national debt.


If you have trouble completing this assignment come in before school to discuss.










Due Thursday:


1.  Explain the contrast between discretionary and automatic fiscal policy.




2.  Completely explain each of the three automatic stabilizers of fiscal policy and describe how each would work in and inflationary AND recessionary situation.




3.  Fully explain each of the "drawback" of fiscal policy.  These include:
a.  Political considerations
b.  Timing lags
c.  The Crowding Out Effect
d.  The Net Export Effect

Articles for Class Discussion 12/18

Read the articles.   Take notes.  Consider printing and annotating them for class.  I want to have an awesome discussion about our scary future!


Come prepared with 3 open-ended, though provoking, discussion generating, questions written out!






Article 1:
http://www.forbes.com/sites/singularity/2012/07/19/could-automation-lead-to-chronic-unemployment-andrew-mcafee-sounds-the-alarm/




Article 2:


http://www.dallasnews.com/opinion/sunday-commentary/20151009-brynjolfsson-and-mcafee-will-humans-go-the-way-of-horse-labor.ece




Super Awesome Scary Interactive Graph:
https://public.tableau.com/profile/mckinsey.analytics#!/vizhome/AutomationandUSjobs/Technicalpotentialforautomation

Reading guide due Wed. 12/16-Last one of the week!

1.  What is the short run aggregate supply (SRAS) curve upward sloping?
2.  What does short run equilibrium tell us? 
3.Create a chart just as your did for AD identifying each factor affecting SRAS, defining each, and illustrating how a change in each factor would cause an increase or decrease in SRAS. 


Be prepared for a test on this economic model including AD, LRAS, and SRAS on Thursday or Friday.  No notes.

Reading Guide Due Tues. 12/15

1.  Identify the slope of the Long Run Aggregate Supply Curve
2.  What information does LRAS tell us?
3.  Illustrate an increase in LRAS.  What factors may cause this?
4.  Illustrate a decrease in LRAS.  What factors may cause this?
5.  What is meant by "Long Run Equilibrium"?


That is all :)

Links for Budget Project

House Budget Committee
http://budget.house.gov/budgetprocess/budgetfunctions.htm


Budget Priorities Center
http://www.cbpp.org/research/policy-basics-where-do-our-federal-tax-dollars-go


Interactive Budget (2013) NY Times
http://www.nytimes.com/interactive/2012/02/13/us/politics/2013-budget-proposal-graphic.html?hp


GAO Glossary of Budget Terms
http://www.gao.gov/new.items/d05734sp.pdf



Breakdown of Military Spending
http://www.businessinsider.com/how-the-us-military-spends-its-billions-2015-8

Ch. 8 Reading Guide: Due Wednesday 11/4

1.  Review all unemployment topics:
a.  types of unemployment
b.  types present at full employment rate
c.  Okun's Law
d.  Unemployment rate calculation
e.  Statistical inaccuracies/problems with the UR as an indicator






2.  Illustrate the business cycle.
a.  indicate where cyclical unemployment would most likely occur






3.  Define inflation.


a.  Create a chart of who is helped and hurt by inflation in an economy.




4.  Describe the CPI and how it measures inflation.




5.  Define Demand Pull Inflation. 




4.  Define Cost Push Inflation.