Standard 12.1.1 Examine the casual relationship between scarcity and the need for choices.

What is Economics?, Day 2Week: What is Economics? - Week 1

Directions: Create a graphic organizer like the one below on Thursday of your Bellwork. Fill in the outer circles with ideas you might have about economics. There should be little to no talking during the Bellwork.

Take our your syllabus, textbooks, and spiral notebooks. I’m going to call you up to collect them in 30 minutes.

Economics is all around us, but can be difficult to describe. There is no single, easy definition for economics.

One good definition is: Economics is the study of how people choose to use their resources.

Another good definition is: Economics is the study of making choices.

And the most detailed answer would be: Economics is the study of how individuals and groups make decisions with limited resources as to best satisfy their wants, needs, and desires.

Example: You have $5. What will you do with it? That’s economics.

1) Open up the spiral notebook you want to use for the next 3 weeks. Turn to the first page of lined paper.

2) On the top line of the first sheet of lined paper, write “Creating a Nation: Table of Contents”

3) Under that heading you are going to keep a list of assignments we complete in our spiral notebooks. For the first assignment, write: “1. Timeline of Your Life”

4) Turn to the next fresh page. Don’t write on the back page of the Table of Contents. This is where assignment #1 will go. Write a big “#1” in the top right corner of the paper and write “Timeline of Your Life” on the top line of the paper.

Take out your two spiral notebooks.

When I call you up, please have your spiral notebooks and syllabus strip ready.

Turn your notebook sideways and fold the paper in half (hot dog style). Draw a line across the fold.

Label the line as if it was a time line, starting with the year of your birth (1993?) to today (2009).

Your assignment: Come up with at least eight of the most important events from your life and label them on the timeline. You can have more. These events can include things such as birthday, day you started high school, quinceanera, first car, first time you did something you loved, first boyfriend/girlfriend… whatever you want. They should be the eight most important events from your life so far.

_______________________________________________________________________

1983 20031990 1996 2009

July 18, 1983I was born in Anaheim, California

September, 1997I entered Santiago High School.

June, 2001 Graduated high school

June 22, 2003Married Mrs. Robinson

June, 2006Graduated from UCR

December 14, 1984Unfortunately, my sister Bekah was born.

1999I got my first car(1981 Chevy Cavalier)

August, 1995I entered CoronaFundamentalIntermediate School

1996Climbed my firstmountain (Mt. San Jacinto)

June, 2007Got a job teachingseventh grade atRiver Heights

September, 2009Accepted a new positionteaching 11th and 12th gradeat Roosevelt.

June, 1995Graduated from LincolnAlternative School

October, 1999Climbed Half Domein Yosemite.

• You are going to write me a five paragraph essay about your life on a separate sheet of paper. The essay should include:• 1 paragraph introduction, 3 body paragraphs, and 1 conclusion paragraph.

• You will spend the remainder of the period working on this. Remember, in this class we’ll be studying important events as well as the broad picture of long periods of time. You should tell me your story the same way!• Use your timeline as a reference. Give me a broad picture of your life. When were you born? Where? Where did you grow up? Tell me about your family. What elementary school are you coming from? What are some of your hobbies?• Be sure to include important specifics about your life. What do you think some of the most important events of your life are?• What you don’t finish in class is homework, so get to work!

Phocabulary means Photo-vocabulary.

Fold your paper in half, Cornell note style. You are going to be choosing ten of the following words, defining them, and drawing a picture to represent each term. The terms can be found on page 3 – 6.

Words: need, want, economics, goods, services, scarcity, shortage, factors of production, land, labor, capital, physical capital, human capital, and entrepreneur.

Whatever you do not finish today is homework.