Thursday, January 20 - Friday, January 21, 2011

The Economizing Problem


Students shall be able to

  1. define scarcity, opportunity cost, PPF, capitalism, command economy, and investment.

  2. identify economic resources and resource payments.

  3. construct and interpret a production possibilities curve.

  4. summarize the relationship between investment and economic growth.

  5. identify characteristics of capitalist, command, and mixed economies.


  1. Lecture/Discussion: scarcity, opportunity cost, production possibilities, and economic growth.

  2. NCEE Activity 1: Scarcity, Opportunity Cost & PPFs


  1. Take notes.

  2. Complete NCEE Activity 1

  3. Read McConnnell & Brue chapter 3 for Monday.



Monitor and adjust as necessary. Collect and grade activity 1.