Limitations of GDP; GDP v. GNP/GNI

ECON: A/B-Day, Tue., 12/9-Wed., 12/10

  1. Finish producing/presenting GDP v. GPI posters
  2. Have students pin posters to cork boards around room
  3. Lecture on differences between GDP and GNP, a.k.a. Gross National Income (GNI)
    -Near bottom of page 2, top of page 4 of study guide
    -On Venn diagram, classify examples of the following: U.S. corporation producing in the U.S., U.S. corp. producing abroad, foreign corp. producing in U.S., U.S. citizens working in U.S., U.S. citizens working abroad, foreigners working in U.S.
    -Why did economists switch from GNP to GDP around early 1990s?
    -When might GNP/GNI be more useful than GDP?
  4. Overview of Quiz topics

Homwork for next class (Thu., 12/11):

  1. Multiple choice quiz about the measurement of national income, 10 questions with one bonus question (20 points total).
  2. Complete the shopping assignment, 10 points.

Measuring National Income, Cont’d

ECON: A/B-Day, Thu., 12/4-Fri., 12/5

  1. Debrief student workpoint 14.1
  2. Lecture on National Income measurement methods
    -Nominal v. real (students explain)
    -per capita v. total (students explain)
    -GDP v. GNP/GNI (students create examples)
    -Leakages and injections
    -Value and limitations of comparisons over time and between countries
  3. NPR story on Jamaica and Barbados
  4. Re-distribute shopping lists

Homework due Thu., Dec. 11: Record new prices for shopping assignment (10 pts.)

Measuring National Income

ECON: C-Day, Wed., 12/3/14

  1. Significance of circular flow sim. (sec. 11 only), holiday sales
  2. Distribute macroeconomics study guides
  3. Lecture on output, input and expenditure methods of measuring national income
  4. Complete student workpoint 14.1 in class

Homework due next class (Thu., 12/4-Fri., 12/5): Finish reading Chapter 14. Complete relevant sections in study guide (2 pts.)
Homework due Mon., 12/8: Record new prices for shopping assignment (10 pts.)

Externalities Presentations

ECON: A/B-Day, Thu., 11/20-Fri., 11/21

  1. Externality presentations

Homework due 11/24: Prepare for multiple choice quiz on externalities (about 20 pts.)

The Protestant Reformation

HIST: A-Day, Mon., 11/20

  1. Screen sections of Luther: Reluctant Revolutionary
  2. -Start until 7:30: 95 Theses, defiance;
    -9:40-16:30 printing press, Frederick’s protection;
    -46:00-51:20 peasant revolt, anti-Semitism, variations of Protestantism
  3. Note-taking on other groups’ spoke diagrams
  4. Discussion/recap of highlights

Homework due next class (Fri., 11/21-Mon., 11/24): None. Work on academic journal topic.

Public Goods, Common Access Resources and Tradable Permits

ECON: C-Day, Wed., 11/19

  1. Explanation of “rival” and “excludable”
  2. Classification activity
  3. Explanation of private goods, public goods and common access resources
  4. Tradable permits explanation
  5. Video clips: U.S./China climate pact, Amazon/Hachette dispute

Homework due 11/20-11/21: Externalities Project (100 pts.)

Branches of Christianity

HIST: B/C-Day, Tue., 11/18-Wed., 11/19

  1. Debrief last section of video
  2. Introduce branches of Christianity activity
  3. Group work on branches
  4. Continue A World Reborn (section 3)

Homework due next class (Thu., 11/20): None. Work on academic journal topic

Introduction to Renaissance/Reformation Journal

HIST: A-Day, Mon., 11/17

  1. Introduction to activity
  2. Select groups and topics
  3. Begin research with textbook
  4. Begin A World Reborn (sections 1-2)

Homework due next class (Tue., 11/19): None. Work on academic journal.
Essay Drafts due 12/4
Academic journal due 12/5-12/8, 100 points

Solutions to Externalities

ECON: A/B-Day, Mon., 11/17-Tue., 11/18

  1. Seminar reminder
  2. Lecture on solutions to externalities
  3. Finish externality projects

Homework due 11/20-11/21: Externalities Project (100 pts.)

Market Structures/Externalities Projects

ECON: C-Day, Fri, 11/14

  1. Finish market structure poster presentations
  2. Work on externality projects

Homework due 11/17-11/18: Read and take notes on Chapter 13 (10 pts.)
Homework due 11/20-11/21: Externalities Project (100 pts.)