teacharh

m1 l3: Scarcity choice and the economic problem

Go through slides 1-4 on ppp.
Sweeties activity.
Pizza activity.
Slides 7-12
Scarcity and choice reading and questions
Slides 13- 18
Scarcity and choice activities
Final slide

AS M1 Lesson 2 - Housekeeping

1. Specification. Read intro paragraph, Ss read rest and mark key words. http://store.aqa.org.uk/qual/gce/pdf/AQA-2140-W-SP.PDF
2. Show overview of course and narrate https://mail.google.com/mail/?shva=1#inbox/12b3457880e84441

3. Past paper. Point out key features. Give them a few MCQs to do. https://mail.google.com/mail/?shva=1#inbox/12b3458b694d456f

4. Examinable skills https://mail.google.com/mail/?hl=en&shva=1#inbox/12b346c548b7186d
5. Books. Explain about Grant and Powell. Explain about pdf book bring in memory stick https://mail.google.com/mail/?shva=1#inbox/12b345a2bc11ada0

6. Other stuff. My e-mail, get them to send one to me. Spot of economics. http://spoteconomics.blogspot.com/

7. Reading from Grant give out. Explain about why reading is useful https://mail.google.com/mail/?shva=1#inbox/12b345d0923bfdfa

8. Quiz based on keywords.

AS M1 Lesson 1 - introductory

1. Rules
2. My cv https://mail.google.com/mail/?shva=1#inbox/12b344ea7ced5be9
3. Their cv https://mail.google.com/mail/?shva=1#inbox/12b344f7de6eebaa
4. Keywords https://mail.google.com/mail/?shva=1#inbox/12b3450ac5f9a0bd
5. Homework - Read Powell, first page of introductory chapter and then positive/normative chapter and answer questions on worksheet https://mail.google.com/mail/?shva=1#inbox/12b3453abc2c447d

1. The letter
2. The calendar
3. Write in syllabus headings in big notebooks
4. Write in a few examples
5. Show how to do one plan
6. Transfer key points to small notebook
7. Go through expectations for homework LINK

A2 M3 Lesson 12: Intro to Welfare and Efficiency

1. Dictate sentences about PC and Mono equilibrium
2. Explain monopoly short and long run equilibrium

3. PPP for unit purpose https://mail.google.com/mail/?shva=1#inbox/1274d1392801780a
4. Welfare quiz

5. PPP for efficiency definitions

AS M2 Lesson 13: Economic Growth #1

1. Brainstorm what students already know about economic growth
2. Explain 8 universal question for ec gr / inf / unemp.

3. Divide students into groups
4. Handout copy of tutor2u chapters on National Income and Economic Growth https://mail.google.com/mail/?shva=1#inbox/1274d1392801780a
5. Students read and discuss their topic in order to prep for tomorrow's writing

AS M2 Lesson 12: End of AD / AS

1. Explain link between SRAS / AD and ec gr, inflation, unemp.
2. Explain gov policy for each and why govts do not only concentrate on SRAS

3. Look at 48 questions https://mail.google.com/mail/?shva=1#inbox/1274d1b12b1994c5

4. Quiz, use PPP situations about shift events https://mail.google.com/mail/?shva=1#inbox/1274d1c712a008cd

AS M2 Lesson 11: AD and AS shifts

1. Worksheet about AD shift out and SRAS shift out https://mail.google.com/mail/?shva=1#inbox/1274d1e4795f431f

2. When to shift out or shift in AD? Students take country cards and mingle to explain which they would do with their particular country

AS M2 Lesson 10 AS Quiz

1. Elicit list of 10 AS questions rewarding each group for their question
2. Time to prepare for quiz
3. Quiz #1 for first 3 questions: each groups write answer then compare and defend to choose best one
4. Explain shape of SRAS curve
5. Quiz #2: make a noise stand up to answer questions

AS M2 Lesson 9 Intro to AS

1. Show effects of shift out of SRAS / LRAS
2. Divide into groups
3. Fill in gap-fill doc award points and discuss https://mail.google.com/mail/?shva=1#inbox/1274d2038cea4924

AS M2 Lesson 8 Final Lists of AD Components

1. Students look back over work and write down AD determinants in correct part of document
https://mail.google.com/mail/?shva=1#inbox/1274d2038cea4924
2. Give my list to supplement theirs (same doc as above)
3. Do "11 Key Facts About AD" https://mail.google.com/mail/?shva=1#inbox/1274d255a2faf003

AS M2 Lesson 7 Components of AD Continued

1. Answers to activities 1-3
2. Do and answer activities 4-6

A2 M3 Lesson 11 How PC works

1. Review situations from last class

2. At bottom of WB, write the PC equilibrium outcome. In top left "firm(s) making supernormal profit" and top right "firm(s) making a loss"
3. Students work together to put in missing steps for getting from dis to eq for supernormal
4. Students move around curves on Word Doc to illustrate this https://mail.google.com/mail/?shva=1#inbox/1274d255a2faf003
5. Repeat 3 and 4 with firms making a loss

6. Draw diagrams in notebooks about above
7. Emphasise self-correction of markets

A2 M3 Lesson 10 The Market and Firm in PC

1. Etymology of word "super" and therefore supernormal profit definition
2. Each student writes definition of "normal profit", brainstorm and write definition

3. PPP for definition of equilibrium https://mail.google.com/mail/?shva=1#inbox/1274d2a9af755d99
4. Discuss what equilibrium means for PC

5. Groups at WB:
6. Draw graphs with supernormal profit, check and mark each others using PPP as guide https://mail.google.com/mail/?shva=1#inbox/1274d2bcaf514c8f
7. Using PPP, chnage situation and draw new and mark and comment
8. Repeat until time is up

A2 M3 Lesson 9 Normal and Supernormal Profit

1. Preparation: read Powell p.48 and Andy Gray handout https://mail.google.com/mail/?shva=1#inbox/1274d2d4eaeda84f
2. Story of the 5000 soldiers in the desert (need water, cups, and paper)
3. Elicit economics story from students

A2 M3 Lesson 8 Monopoly Curves and MC=MR Experiment

Elicit Monopoly diagram on board
Explain briefly long run equilibrium situation
Divide class into - money / quantity / graph reader / excel
Draw MC and MR curves for PC. Make 40 quantity be MC=MR. Let p = 60.
Get 0,10,20,30,40 on table and in Excel
Put £60 for MC and £60 for MR where Q=40 on table and in Excel
Put MR = £60 for all other qs
Read off MC amounts for other Qs and enter
Now zoom into quantities for 31-40
Should prove the point - draw total profit and explain that MC=MR is biggest difference between TR and TC
Repeat for monopolist situation with new MR

https://mail.google.com/mail/?shva=1#inbox/1274d2ef8494c86d

A2 M3 Lesson 7 Perfect Competition Revenue

Explanation of method of deriving conditions pc by economists
Go through assumptions using PPP https://mail.google.com/mail/?shva=1#inbox/1274d30eb2dd3eda
Activity - tear off hints and individual then team then one by one practice assumptions of pc https://mail.google.com/mail/?shva=1#inbox/1274d31e850030dd
Back to PPP - info about revenue
Why D=AR
Why D curve is perfectly elastic for pc firm
Why AR=MR for pc firm
Look at pc curves

AS M2 Lesson 6 Components of AD

Warmer - different rates of unemployment card thingie
Discuss answers to spending decisions activity from yesterday
Students do activities 1-3 https://mail.google.com/mail/?shva=1#inbox/126faf1a608829f2

AS M2 Lesson 5 Introduction to AD

Ss copy and answer MCQ q7 from Jan 07 about consumption and AD https://mail.google.com/mail/?shva=1#inbox/126f5788458a07af

Start to explain answer and then go through different agents' demand on WB (see above)
AD equation drilling exercises
Discussion activity on each agent's spending decisions https://mail.google.com/mail/?shva=1#inbox/126f5806ad241481

A2 M3 Lesson 6 Market Structure Introduction

Emphasise that short run costs are the same for all types of business whereas revenue differs according to market structure.
Ss read "Introduction to market structure" https://mail.google.com/mail/?shva=1#inbox/126f57253d6d3870
Further information from PPP about market structures https://mail.google.com/mail/?shva=1#inbox/126f573d98d55386
Students complete table exercise about market structure https://mail.google.com/mail/?shva=1#inbox/126f5757e49031ad
From PPP, go through Assumptions of PC

AS M2 Lesson 4 Circular Flow (cont) / Keywords / Intro to AD

Quick game of previous lesson activity
Ss work together to write all flows on WB
Sketch diagram
Talk about savings and investment
Keywords 2 crossword https://mail.google.com/mail/?shva=1#inbox/126d0cebb674bcaf
Intro WB to Economic Cycle Model / AD AS model / Economic policies

A2 M3 Lesson 5 Long Run Average Costs

Re-emphasise importance in long /short distinction in allowing us to theorise about firms in general
Use PPP to talk about change from long to short run and relationship SRAC and LRAC https://mail.google.com/mail/?shva=1#inbox/126d0d2ce574262a
Reminder - economies and diseconomies of scale / minimum efficent scale
Ss try to draw different LRACs https://mail.google.com/mail/?shva=1#inbox/126d6e5d683a1dfb / show on PPP https://mail.google.com/mail/?shva=1#inbox/126d0d2ce574262 and then discuss
Make notes about ecs of scale from handouts, peek ahead and then check https://mail.google.com/mail/?shva=1#inbox/126d6e77799a81bd
Use table to contrast short and long run cost theory ideas

AS M2 Lesson 3 The Circular Flow of Income

Students do Macro words 1 crossword https://mail.google.com/mail/?shva=1#inbox/126d0cebb674bcaf
Explain about 2 most important models - c flow of i and AD/AS
https://mail.google.com/mail/?shva=1#inbox/126d164b22665ca4
Activity - 4 groups, 4 name plates, £300 each

team throws dice, if can takes £100 from other but must call out name of money
change after each cycle

PPP show general way of drawing flows
Table - elicit names of different flows (finish at home if necessary)

A2 M3 Lesson 4 Marginal Cost Curve

Review: dice and 1) short run 2) long run 3) fixed costs 4) variable costs 5) total costs 6) average cost
Use Krugman to formulise explanation of AC curve
Marginality - use PPP to explain https://mail.google.com/mail/?shva=1#inbox/126d0d2ce574262a

Activity - Ss measure each other 1 by 1 and plot out average, marginal tables (remember tells us about addition to total)
Try to elict rules about relationship btw marginal and average
Plot (get graph paper), using flower data, and total fixed costs of 10

average cost curve
marginal cost curve

If time, curve drawing competition

A2 M3 Lesson 3 Average Cost Curve and Diminishing Returns

Recap yesterday - esp short/long run // TFC, AFC
Variable Costs

students sketch TVC - point out not a straight line

The Law of Diminishing Returns

Flower field example https://mail.google.com/mail/?shva=1#inbox/126d178fedd0074b
Put into graph form to show shape of TVC
Draw graph next to it of AVC

Total costs - sketch curves
The average cost curve

Big sketch of AFC , AVC
AC = AFC + AVC show how can use addition to plot AC curve
Explanation - use Krugman info

A2 M3 Lesson 2 Introduction to Costs

Go through answers from hwk (1-input/output/magic box ; 2 - production role of entrepreneur)
Use answers from 3 to go into short run v long run

explain concept - alternative way of viewing time / helps to compare seemingly very different production processes
example - window cleaner / air plane maker - elicit examples of f of p
rank f of p according to ease of adding more
line on WB - distinction short/long run, the tipping point. Add f of ps from example businesses
Therefore, can see similarities btw any production process FOR ANY BUSINESS SHORT AND LONG RUN CONDITIONS ARE DIFFFERENT ESP COSTS
Powell diagram p.13 - emphasises returns to scale = economies of scale

Fixed costs

Give defs of fixed/variable costs and elicit examples
Student sketch TFC curve
PPP gym example to demonstrate AFC https://mail.google.com/mail/?shva=1#inbox/126d0d2ce574262a

AS M2 Lesson 2 Macroeconomic Indicators

Explain task - need to make up-to-date cards
Find a leader - explain role of entrepreneur, recap on division of labour, show capital goods, elicit production stages
Students make the new sets of cards
(If time) cards activities i.e. top trumps or groups of countries

A2 M3 Lesson 1 Ownership and Objectives

Welcome to hell!
Look through specification. http://store.aqa.org.uk/qual/gce/pdf/AQA-2140-W-SP.PDF
Look through past paper. https://mail.google.com/mail/?hl=en&shva=1#inbox/12b3467652903b6d
Skills examined on PPP https://mail.google.com/mail/?hl=en&shva=1#inbox/12b346a3480c383f
PPP showing 9 areas of M3 https://mail.google.com/mail/?shva=1#inbox/126d0d2ce574262a
Overview of Wk 1 work https://mail.google.com/mail/?shva=1#inbox/126d0d6fbcd578f3
Types of firms: sole trader / partnership / private limited company / public limited company (5 min discuss)
Firms' objectives: brief read of document / Ss do questions / on wb "Possible Conflicts of Objectives e.g. reduce pollution (social/community objective) v. profit maximisation" / Ss test each other on conflict areas and then I test them https://mail.google.com/mail/?shva=1#inbox/126d0d80566d9d43
Divorce of ownership from control - copy from Tuto2u Textbook / read and discuss principal-agent problem
For tomorrow - make notes on Production Questions You Should Know About

AS M2 Lesson 1

Quick comparison of micro/macro on WB

microeconomics - individual markets / Is the market working efficiently? 2 tests of efficiency
macroecnomics - all firms/households/workers, etc / Are the living standards of the population improving? 4 key tests

PPP Overview of Module 2 - go through key aggregates and what they measure
UK economy info from 2006 / 2009 - from word document
Give out country cards, remark on some interesting facts
Allocate cards, show CIA factbook, ask students to find info for tomorrow