G12 - Week 5 - Day 3

In-class

1. News presentation?
2. Questions from the videos?
1. The Marshall-Lerner Condition
2. J-Curve and the Marshall-Lerner Condition
3. In-class work
4. Exercises 2-4

At-home

1. Ch, 23 Practice question 2

G11 - Week 5 - Day 1

In-class work

1. Check Ch. 3 flashcards for vocabulary and diagrams
2. News presentations
3. Video questions?
1. Market Equilibrium, Disequilibrium and Allocative Efficiency

2. Consumer Surplus and Producer Surplus

4. Exercise 1

At-home work

1. Introduction to Dead Weight Loss (Welfare Loss)
2. HL Only - Finding Equilibrium using Linear Demand and Supply Equations
3. HL Only - Consumer Surplus and Producer Surplus in the Linear Demand and Supply Model
4. HL Only - Calculating the area of Deadweight Loss (welfare loss) in a Linear Demand and Supply model

G12 - Week 5 - Day 2

In-class

1. Ch. 22 quiz
2. News presentation?
3. Questions from the videos?
1. Balance of Payments - the Relationship between the Accounts
2. The relationship between the Current Account Balance and Exchange Rates
4. In-class work
1. Outline the components of the current, financial, and capital accounts
2. Explain how the current account is balanced with the financial/capital accounts
3. Why does a current account deficit result in downward pressure on the exchange rate of a currency?
4. Why does a current account surplus may result in upward pressure on the exchange rate of a currency?
5. Exercises 2-4

At-home

1. The Marshall-Lerner Condition

2. J-Curve and the Marshall-Lerner Condition

G11 - Week 5 - Day 1

In-class work

1. Ch. 2 quiz next class (learning outcomes)
2. News presentations
3. Video questions?
1. Linear Supply Equations - part 1
   
2. Linear Supply Equations - part 2
4. Practice questions

At-home work

1. Make Ch. 3 flashcards for vocabulary and diagrams
2. Market Equilibrium, Disequilibrium and Allocative Efficiency

3. Consumer Surplus and Producer Surplus

G12 - Week 5 - Day 1

In-class

1. Ch. 6 quiz
2. News presentation 
3. Questions from the videos?

1. Balance of Payments - the Current Account

2. Balance of Payments - the Financial (Capital) Account

4. Practice questions

At-home

1. Ch. 22 quiz
2. Balance of Payments - the Relationship between the Accounts
3. The relationship between the Current Account Balance and Exchange Rates

G11 - Week 5 - Day 2

In-class work

1. Questions on Exercises 4-7 (p. 82)
2. Cross Price Elasticity of Demand and its Determinants
1. Exercises 11-13 (p. 87)
3. Income Elasticity of Demand
1. Exercises 14-16 (p. 89)
4. Price Elasticity of Supply and its Determinants
1. Exercises 17-20 (p. 95)
5. Applications of Elasticity (PED, XED and YED)

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From the blogosphere

1. Is happiness inequality falling?
2. The Education Algorithm

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Currently Reading

The Happiness Manifesto

“It makes no sense if a nation’s current well-being comes at the expense of its future well-being,” (Kindle Locations 233-239) and that, “sustainability can be thought of as creating future happiness – human happiness that lasts over time” (Kindle Locations 446-448).

G11 - Week 5 - Day 1

In-class work

1. Questions?
1. Exercise 1 & 5-8 (p. 58 & 66)
2. Exercises 9-13 (p. 70)
3. Exercises 2-4 (p. 64)
2. Market for Communication
3. Elasticities
1. Calculating and Interpreting Price Elasticity of Demand
1. Exercises 1-3 (p. 75)
2. Price Elasticity of Demand and the Total Revenue Test
1. Exercises 4-7 (p. 82)
3. Cross Price Elasticity of Demand and its Determinants
1. Exercises 11-13 (p. 87)
4. Income Elasticity of Demand
1. Exercises 14-16 (p. 89)
5. Price Elasticity of Supply and its Determinants
1. Exercises 17-20 (p. 95)
6. Applications of Elasticity (PED, XED and YED)

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From the blogosphere

1. A new (old) argument against a guaranteed basic income
2. Diminishing Credit: How Colleges and Universities Restrict the Use of Advanced Placement

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Currently Reading

Creating a Learning Society

"Even if there is more innovation under monopoly, however, it does not mean that welfare is higher. Society pays a cost, both today and in the future, from the monopoly distortions. Only if the dynamic [tomorrow's] benefits are large enough to offset the static [today's] distortions is monopoly preferable to a competitive equilibrium." (Kindle Locations 5757-5760)