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Stuff to do on WebCT:

Available Exam Dates:
Exam 3 until Nov. 1

Available Quizzes:
Quizzes for chapters 7-9 due Nov. 1
Quizzes for chapters 10-12 due Nov 29

Available Clickers:
Clickers 9A, 9B, and 9C until Nov. 1
Clickers 10A, 10B, and 10C until Nov. 8

Week of Nov. 3: Markets that affect the economy, Aggregate Demand. Aggregate Supply, Long run and short run equilibrium Card 11A things that change aggregate demand, events that change short run aggregate supply, events that change long run aggregate supply.Card 11B, How short run equilibrium changes, self-correcting mechanism (resource prices), restoration of long-run equilibrium, Review of the Aggregate Demand, Aggregate Supply model (Flash example). Card 11C

Week of Oct. 27: Card 10A interest rates, unemployment, reasons and kinds of unemployment. Cards 10B and 10C

Week of Oct. 20: Definitions from Chapter 9. Card 9A. Growth Rates, inflation, real GDP growth, effect of inflation, anticipated inflation, net monetary creditors, net monetary debtors Card 9B (calculation questions on inflation rates). See the questions like these in your Study Guide (chapter 9), Growth Rates, inflation Card 9C. Worked on some questions involving calculation of real GDP growth rates. (Study Guide chapter 9) Growth Rates, real GDP growth

Week of Oct. 13: GDP, began real and nominal values. Card 8A real and nominal values. Card 8B, Card 8C

Week of Oct. 6: Did Card 7A on definitions from Chapter 7. Started Consumer Surplus, Producer Surplus, Efficiency and equilibrium, gains from trade at equilibrium, price floors, price ceilings. Card 7B on Consumer Surplus, Producer Surplus, Efficiency and equilibrium, gains from trade at equilibrium, price floors, price ceilings. What you need to know about taxes and efficiency. Did Card 7C on Taxes. macroeconomic taxes: Laffer Curve marginal tax rates, average tax rates, progressive, regressive, and proportional taxes.

Week of Sept 29: Discussed things that change demand, things that change supply. Did card 6A on things that change demand or supply.Started Card 6B on changes in equilibrium due to demand or supply changes. How to deal with equilibrium questions. Reviewed things that change demand, things that change supply, changes in equilibrium. How to deal with equilibrium questions. Did card 6C on deducing causes of price and quantity changes as well as the results of simultaneous demand and supply changes.

Week of Sept 22: Started discussion of what buyers do, quantity demanded, demand. Did Card 5A. Reviewed demand, Supply, discussed equilibrium, shortages, surpluses, and pepared to solve graphical equilibrium questions. Did Card 5B. Did card 5C on equilibrium graphs. Started chapter 6 ideas.

Week of Sept. 15: Reviewed efficiency (getting the most), production possibilities, comparative advantage. Discussed specialization and trade as a way to find comparative advantage. Some notes. Production Possibilities Curve; slope of the curve indicates cost; the greater the current production of a good, the higher the cost of producing more of it; slope of PPC is flat at top and steep at bottom due to costs; if production is efficient, there is no way to get more of one good without reducing the production of the other good; if production is inefficient, it is possible to produce more of one good without reducing the production of the other (we can get some for free); efficiency means being on the PPC; below or inside the PPC is inefficient; briefly mentioned that production possibilities can change. Did card 3D.
Chapter 4 - transactions costs, middlemen, property rights, invisible hand, why trade is allocatively efficient trade based on values, who gains from trade,trade based on values, allocative efficiency, why trade is allocatively efficient. Did card 4A. Did Card 4B on trade based on values.
*Did Card 4C on trade based on values, property rights, transactions costs.

Week of Sept. 8: Discussed efficiency (getting the most), reviewed resources, opportunity cost, and economization. Did Card 3A on definitions.
Did Card 3B on application of the opportunity cost concept to resources using math. You can also see this example. You can also look at a similar discussions based on the study guide questions T3.11a to T3.11e or 3.16 to 3.23. Also discussed economization. For another example of resources and their efficient use (efficiency being when we get the most of what we are trying to get), see this example.
*Reviewed efficiency (getting the most), production possibilities, comparative advantage. Discussed specialization and trade as a way to find comparative advantage. Did Card 3C to apply the ideas

Week of Sept. 1: Did Card 2A (see clicker 2A). We discussed utility, opportunity cost, short run, long run, marginal decision making, secondary effects.
Did Card 2B (see clicker 2B), which is an application of marginal decision making.
*Discussed information costs. Did Card 2C (see clicker 2C), which is an application of opportunity cost. Laid some foundation for applying that to resources (such as a person's time).

Week of Aug. 25: Passed out Chapters 1-3 of book and Study Guide; did "Card 1A" , Collected last page of syllabus (this counts as Card 1A if you did not turn in the actual card)
Did Card 1B (see clicker 1B). We discussed scarcity, the results of scarcity, rationing, the assumption that people are rational. You might also see these notes on scarce goods and non-scarce (free) goods and resources.
*Did Card 1C on positive vs. normative. Also reviewed the assumption that people are rational and the scientific method. On your own, you might want to contemplate the concepts of subjective values and ceteris paribus, which are other topics some students find confusing.

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