Tuesday, January 3rd, 2006

Welcome and course introduction.

OBJECTIVE 

Students shall be able to

1. 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

2. describe the process of economic decision making, and

3. paraphrase Keynes' famous quotation on the Theory of Economics.
    

ACTIVITIES

1. Discuss fair methods for the allocation of scarce As in the class. Generalize to the model of economic decision making. 

2. Define key terms for student notes.  Extend to apply the model.

3. 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).

ASSESSMENT PROCEDURES

1. Students shall complete an outline sheet which measures the meeting of each objective.  Observe and reteach.

2. Check student crossword puzzles.

 

TEKS involved: 1B, 5A, 21A, 23A, 23D, 23E, 24A, 24C, 24D, 25A, 25B