Wednesday, August 16th, 2006
Welcome and course introduction.
Students shall be able to
define (a) scarcity, (b) opportunity cost, (c) utility maximization, (d) land, (e) labor, (f) capital, (g) entrepreneurship, (h) factors of production, (i) marginal analysis, (j) goods, (k) services
describe the process of economic decision making, and
paraphrase Keynes' famous quotation on the Theory of Economics.
Discuss fair methods for the allocation of scarce As in the class. Generalize to the model of economic decision making.
Define key terms for student notes. Extend to apply the model.
Students shall complete a crossword puzzle from chapter one in the student text.
Assignment: Students shall complete a chapter one crossword puzzle (Word or PDF).
Students shall complete an outline sheet which measures the meeting of each objective. Observe and reteach.
Check student crossword puzzles.
TEKS involved: 1B, 5A, 21A, 23A, 23D, 23E, 24A, 24C, 24D, 25A, 25B