Single indicators
First, we will do a ranking activity where you will all be assigned a country. Here are the most recent HDI figures - check how your home country rates http://hdr.undp.org/en/2018-update Make a copy of this document and complete the tasks https://docs.google.com/a/aisbudapest.org/document/d/1J_luWNIWy6CL7ChGMugqNPbc_B-ET9i1qlCgepQjpF4/edit?usp=sharing When you have finished, choose a country from those in the LDC category and make a country profile (such as the one below for Senegal) using spark.adobe.com and link it here. Senegal
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The business cycle - short-term fluctuations and long-term trend
Tasks:
Measures of economic activity: gross domestic product (GDP), and gross national product (GNP) or gross national income (GNI)
There is a good explanation of GDP in this Slate Magazine video "What is GDP?" You will continue working in the packet you were already given. Limitations in GDP measurement and in using GDP to compare countries Make notes under the following headings: (use p163-165 of textbook plus the handout you have already, p 223-225)
Radio 4 episode www.bbc.co.uk/programmes/b0bd6jj7 ... the surprising story of GDP and whether it's time to change how we measure our economy. Green GDP Explain the meaning and significance of “green GDP”.
The circular flow of income model
Today we start Macroeconomics.... let's start with an EconMovie to show how an economy works.
We will then build up a model of the economy on the board and you will be given a worksheet to complete. Check out this physical model of the circular flow as well... the Moniac Machine https://goo.gl/HGQ3En http://bit.ly/2GS5CaM Or try this short game... Tragedy of the Bunnies Common access resources and the threat to sustainability
Cap and trade schemes: http://www.stuffyoushouldknow.com/podcasts/whats-the-deal-with-carbon-trading/ https://drive.google.com/file/d/1em7SKZ413vvhagISmbV7rWukUzlF5cba/view?usp=sharing Use p147-153 Blink/Dorton plus handout from Welker text to fill in document I will give you to address the above objectives.
Use p 139-141 to do the following:
Video: Pay and sit The meaning of externalities
You will be given a packet of resources that we will use to address these objectives. It is really important to learn to draw and use the graphs properly so practise these. There are lots of real life examples of externalities of production and consumption and it is an excellent topic to do an IA on... you should be reading newspapers looking for good articles! Market failure as a failure to allocate resources efficiently
We will discuss what is meant by market success/allocative efficiency and the conditions for market success before we get started looking at all the ways markets may fail to allocate resources efficiently. https://docs.google.com/a/aisbudapest.org/document/d/1GE4wdZD6mcIJ8wCTiHhGQlve5uzcG5xpa8tiyzAGVVI/edit?usp=sharing Price ceilings: maximum prices
As SL students you do not need to be able to do the calculations but you do need to be able to do the following:
Indirect taxes
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March 2021
Maree SpraggonTeacher of IB Economics at the American School of Budapest Categories |