Shields' Economics and Government

Aggregate Demand and Supply

2012-02-13T13:49:00.000-05:00

GDP Notes

2012-02-06T11:22:00.001-05:00

Market Structures and Market Failures

2012-01-25T13:27:00.000-05:00

Download Market Structures Notes

Download Market Failures

Unit 5 Notes

2011-12-14T21:32:00.000-05:00

Google Docs is struggling with the Civil liberties notes. You received a copy of them on Wednesday, so pull them out for review.

Budget Notes

Georgia State Government Notes

Institutions of Government Test

2011-12-02T11:25:00.001-05:00

Study Guide

Also, be sure you know your facts from the Abramoff video!

Judicial System

2011-12-02T10:28:00.000-05:00

Notes

worksheet

landmark cases to know

Executive Branch

2011-11-30T20:24:00.000-05:00

Notes

Legislative Branch

2011-11-16T14:30:00.001-05:00

Notes

Legislative Worksheet

Ideology and Elections Notes

2011-11-07T12:30:00.003-05:00

Ideology:

Elections:

Electoral Shortcomings:

Types of Government Notes

2011-10-26T10:24:00.000-04:00

Questions for Macroeconomics Makeup Exam

2011-10-04T20:06:00.000-04:00

Please complete the following questions and turn them in to qualify to retake the macro exam. Remember, upon turning this in, I will bring a copy of the test to the learning links test coordinator. You will need to attend learning links and go with either Ms. Bohler or Ms. Corell to take your test.

p. 248 q. 1,3,6-8
p. 308 q. 1-7
p. 316 q. 1-6
p. 324 q.1
p. 336 q.1-7
p. 343 q. 1-7
p. 393 q. 5-7
p. 418 q. 1-5
p. 429 q. 1-6

Sorry it took so long!

Federal Reserve Structure Notes

2011-09-26T12:08:00.000-04:00

Download here

Lifesim Project Guidelines

2011-09-26T12:06:00.001-04:00

If you have misplaced, lost, thrown away, or burned your poject guidelines, here is another copy.

Market Failure Notes

2011-09-07T12:04:00.001-04:00

Production Possibilities

2011-08-16T13:24:00.000-04:00

The fundamental problem that societies face is that of scarcity. We always want more than we can afford, and societies always want to produce more than their access to resources will allow. Thus, individuals and nations must make trade-offs. These decisions involve choosing one possible want over others. For example, if a student goes to chick-fil-a with three dollars, he or she cannot order both a sandwich and a salad. The student must make a trade-off by choosing one over the other. In choosing one item, the other has been forsaken and is thus an opportunity cost of the trade-off. Trade-offs and opportunity costs accompany every decision. Even if you are offered a free lunch, you are forfeiting your time.

These decisions can be shown graphically on a production possiblities chart.

In the PPF above, a company is facing a trade-off between the production of Crab Puffs and Storage Sheds. If the company is currently producing six Storage Sheds, it can also produce 350 Crab Puffs. If the company decides to increase production of Storage Sheds to 10. This will reduce the possible production of Crab Puffs to 50. The increase in production of Storage Sheds has led to an opportunity cost of 300 Crab Puffs.

Now imagine that this company is facing a worker's stike, this is going to cause the company to be able to produce fewer Storage Sheds and Crab Puffs. The PPC will move inward (towards the origin). Alternately, if the company employs a new technology, this will cause the PPC to move outward (away from the origin).

Welcome to Economics!

2011-08-16T13:00:00.000-04:00

Welcome to Mr. Shields' Economics course at Wheeler High School. I hope that this semester will be both productive and entertaining for you.

Download the syllabus here

Reposting the Gov Project Requirements

2011-05-11T11:06:00.000-04:00

Link

Georgia State Government

2011-05-10T14:00:00.002-04:00

Notes

Unit 4 Study Guide

2011-05-09T14:01:00.001-04:00

Study Guide - work in progress, check for updates

Budgeting

2011-05-09T10:54:00.000-04:00

Notes

Worksheet

Civil liberties and rights

2011-05-03T14:46:00.006-04:00

Notes

Branches of Government PowerPoints

2011-04-20T11:13:00.004-04:00

Legislative Branch
Executive Branch One
Executive Branch Two
Judicial Branch

Required Reading

2011-04-11T12:48:00.000-04:00

By 4/15, have read unit 2, by 4/22 have read unit 3, and by 4/29 have read unit 4. Your are expected to know the book as well as the notes from class for the upcoming test.

Electoral Process

2011-03-31T09:21:00.000-04:00

What To Study For Tomorrow's Test

2011-03-31T08:54:00.002-04:00

For those of you worried about tomorrow's test, study these things, and you will be fine:

*The difference between political parties and ideologies
*Conservative ideologies vs. liberal ideologies
*Moderates and why they are important
*Which groups of voters are loyal to each party
*How the two parties came from Federalists and Anti-Federalists
*The role of third parties
*Why incumbents are difficult to beat, and their advantages\disadvantages
*The purpose of primaries
*What takes place, and what decisions are made at National Conventions
*What is a campaign strategy
*What is mass media, and how is it limited
*Are the mass media really "molders" and "mirrors" of public opinion
*How media influences the public agenda
*How television has made politicians less dependent on their parties
*How candidates manipulate the media

PowerPoints-Test Two: Parties, Elections, and Media

2011-03-28T13:30:00.001-04:00

Political Parties

Election Process

History of Government Worksheet

2011-03-15T11:19:00.000-04:00

This is your class background information. You should know most of it from World and US History, but if you've forgotten, be sure to study up.

History of Government Reading

Welcome to Government

2011-03-14T10:01:00.000-04:00

Click to download the Syllabus

Take note: Government is a separate class from economics. Your attendance and grades start over. The final can be exempted, but in order to qualify you may have no more than one absence.

Government Project

International Economics Notes and Worksheets

2011-03-02T14:40:00.002-05:00

Click below to download

comparative and absolute advantage worksheet

Protectionism Notes

barriers to trade worksheet

Exchange Rates Notes

Types of economies notes

International Economics Chart

Macroeconomic Indicators

2011-02-16T15:20:00.000-05:00

The three primary economic indicators you need to know in life are GDP, Inflation, and Unemployment.

GDP:

Inflation: This measurement tells you the rate of increase in prices (also the decline in the value of currency). This affects people throughout society in different ways. Those that have taken out loans generally benefit as the value of the loan decreases as inflation devalues the currency - this also hurts those that have granted loans to others. Those that are earning a set amount of money or set amount of interest are generally hurt by the devaluation of money over time.

Inflation is measured using the Consumer Price Index. To calculate CPI, simply take the price of a market basket of goods in the year we are concerned with and divide it by some past year (usually given as the base year) and multiply by 100. The resulting number is the current price as a percentage of the former price.

Unemployment: Unemployment is always present in a market economy. We call this the natural unemployment rate (somewhere around 5 or 6 percent). This occurs no matter how well the economy is growing (as people are always moving between jobs). As GDP declines, unemployment generally decreases.

There are four types of unemployment:

Frictional: Those between jobs. They don't lack skills but instead have left one job to find another for some other reason.

Structural: Those that lack the skills to work in this marketplace are structurally unemployed. This is often due to not keeping up with current marketplace skills or falling behind in training.

Cyclical: These are people laid off due to an economic downturn.

Seasonal: These people are working temporary jobs every year. They are laid off at the end of a season and are rehired at the beginning of another season.

Honors: GDP notes

2011-02-08T11:06:00.001-05:00

GDP

Market Structures and Market Failures

2011-01-28T11:29:00.000-05:00

Market Structures Notes

Market Failure Notes

Link to the state study guide for economics and this week's reading

2011-01-26T14:28:00.000-05:00

For Monday, have read chapters 3 and 4 of the Whelan book (the quiz will be concept, not example, based)

The state study guide can be found here

Possible change to Naked Economics readings

2011-01-24T15:58:00.002-05:00

Given the difficulty and problems seen in today's quiz, we will discuss possible changes to the Naked Economics readings. Note that reading will still be required, and that information from this text is considered testable.

Upcoming quizzes

2011-01-21T11:58:00.001-05:00

Don't forget about your quizzes. Keep up with the dates by checking the calendar on crshields.com. Also, use the websites available in the links section of the website if you feel that you are falling behind.

Reading and Grades

2011-01-19T15:57:00.001-05:00

Fundamental Test Grades are posted. The free response counts half of what the multiple choice section does.

If you were absent and missed the test, you will take the free-response version this week.

You are expected to have the first two chapters of Naked Economics read by Monday (expect a quiz).

Homework for the weekend of 1/7

2011-01-07T10:21:00.001-05:00

Read ch. 1 and 2 of Naked Economics

Four factors of Production and Three Types of Economy notes

2011-01-06T11:47:00.000-05:00

Ch 1 Notes

Trade offs, Opportunity Costs, and PPCs

2011-01-04T11:42:00.002-05:00

Notes

Welcome to Economics

2011-01-03T12:40:00.000-05:00

Syllabus Link

Be sure to read your syllabus! First test is next Friday!