1. Bellringer
1. How much information will you miss if you
miss 1 day of a regular school day?
2. What if you miss 2 days?
3. What if you miss 8 days?

2. “the margin”
• Additional
• Ex: production, consumption, effort

3. Two volunteers
• Two Volunteers
• Marginal utility

4. Two volunteers
• Two Volunteers
• Law of diminishing
marginal returns
• Eventually marginal
benefits will decrease

6. Eventually…

7. Application to students?

8. Application to business?

9. Application to government?

10. Application to partiers

11. On your BR
• 4. Write a specific example of DMR from your
life, using economic vocabulary

12. Review Biz Organizations

18. Which of the 3 business orgs would you
use to start a…..

19. Which of the 3 business orgs would you
use to start a…..

20. Which of the 3 business orgs would you
use to start a…..

21. Which of the 3 business orgs would you
use to start a…..
Tile setting

22. Which of the 3 business orgs would you
use to start a…..

23. Which of the 3 business orgs would you
use to start a…..

24. Which of the 3 business orgs would you
use to start a…..

25. Quantitative Easing on back of quiz
Why would an economist say it
makes sense to pay $500 to fly
to Los Angeles, when a person
could drive for only $90?

26. Mental Bellringer
Think of a day when you got a lot done. What were
you doing? Why were you able to do it?

29. Experiment
• 1 group draws
• 1 group draws
• 1 group draws

30. Graph Experiment
How could I model this?
Increase productivity?

31. Productivity
• Quantity of output for each unit of input
• For example:
• Mechanic can do 4 oil changes per hour
• Each oil change requires $8 worth of filter & oil
• “At the margin” increases in
Productivity
Another example?
Hours studying? Working?

32. Draw and label 2 good PPF
label impossible, efficient and inefficient

34. Increases in productivity
• Causes ---------
• #1 technology
• Others:
• Human capital
• Cheaper inputs
• Health
• Globalization

35. Bellringer on a full sheet
1. List 3 things the
“60+” plus might
refer to. Such as
weight.
2. Which is the best
answer to #1?
3. How many of those
folks are there in the
US now?
4. How many will there
be in 2040?

36. A strategy to read graphs (or pictures)
O verview
P arts
T itle
I nterrelationships
C onclusion

37. A strategy to read graphs (or pictures)
O verview
P arts
T itle
I terrelationship
C onclusion
Source: Associated Press

38. A strategy to read graphs (or pictures)
O verview
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T itle
I nterrelationship
C onclusion

39. A strategy to read graphs (or pictures)
O verview
P arts
T itle
I terrelationship
C onclusion

40. A strategy to read graphs (or pictures)
O verview
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T itle
I terrelationship
C onclusion

41. A strategy to read graphs (or pictures)
O verview
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I terrelationship
C onclusion

42. A strategy to read graphs (or pictures)
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I terrelationship
C onclusion

43. A strategy to read graphs (or pictures)
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I terrelationship
C onclusion

44. A strategy to read graphs (or pictures)
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I terrelationship
C onclusion

45. A strategy to read graphs (or pictures)
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C onclusion

46. A strategy to read graphs (or pictures)
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C onclusion

47. A strategy to read graphs (or pictures)
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C onclusion

48. A strategy to read graphs (or pictures)
O verview
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I nference
C onclusion

49. A strategy to read graphs (or pictures)
O verview
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I terrelationship
C onclusion

50. A strategy to read graphs (or pictures)
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I terrelationship
C onclusion

51. A strategy to read graphs (or pictures)
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I terrelationship
C onclusion

52. A strategy to read graphs (or pictures)
O verview
P arts
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I terrelationship
C onclusion

53. A strategy to read graphs (or pictures)
O verview
P arts
T itle
I terrelationship
C onclusion

54. A strategy to read graphs (or pictures)
O verview
P arts
T itle
I terrelationship
C onclusion

55. Production Possibility Practice
What is the
opportunity
cost of
moving from
A to B?
A
B

56. Why?
3 reasons
negative

57. In your groups
• You are members of the financial
ministry of the country of
Travistan
• Create a budget for FY 2014
• Smog level 100 million
particles per square inch
Reducing pollution would increase
tourism and create thousands of
new jobs
Travistan