Monday Sept. 10, 2007 Obj: Utility Theory, Trade offs, opp. Cost, externalities, cost/benefit analysis
1.
Sept. 11 Remembrance 10 minutes
2.
Warm Up # 3 visual 6.4, students are to choose which statement
they agree with and explain.
3.
Show them the money for our city budget.
a. What things does government have to
pay for with this money? Add cleaning the environment to the list.
b. divide up the money into piles for each 10 pieces for
the environment
c. This is an experiment in scarce resources and cost
benefit analysis. Choose 2 students to clean the carpet.
d. .20 to clean it by only picking up crumbs with hands.
e. We measure by checking out amount in trash bag
f. Ask Is
rug clean?
g. Repeat experiment 4 more times paying them each time
they clean
h. At what point is the environment clean enough? Should we continue past the 5th cleaning?
How do we pay for it? We must weigh marginal benefits with marginal costs.
i. MB>MC
Keep going; MB = MC Stop; MB<MC gone too far, Show overhead of this.
6.5
4.
Overhead of implicit cost, explicit cost, sunk cost (Pay for a trip to Disneyland and get injured, do you go?) discuss sunk cost
Tuesday Sept. 11, 2007
Periods 1, 3
JA tax deductions and specialties
Period 4
1.
Using your book complete Warm up from quiz and define macro and microeconomics.
2. Diminishing marginal returns, increasing marginal returns activity and definitions
3. Cost of college
Implicit
Explicit
Ignored
Sunk
4. Test Review
