Aggregate Demand and All sorts of Math -- maybe

Aggregate Demand

Please watch this and the additional videos:

Aggregate demand: Understanding how aggregate demand is different from demand for a specific good or service. Justifications for the aggregate demand curve being downward sloping

Light Stuff

So we are going to be studying about the black market.  It is serious stuff, but before we get to that I'd like you to take a look at some videos that are entertaining and will give you some ideas of what to do to save money and some jobs to avoid, since they no longer exist!

Math -- maybe

Mathematics (numbers) and Economics go hand in hand.  I liked how the one Economist said that math is the language economists use to communicate specifically.  Understanding formulas and how to interpret data is important in various careers and in your own life.

Here's a link to GeoFRED which is Geographical Economic Data.  As you have worked on your Game of Life and various other assignments you've had to deal with data.  Please take some time to explore GeoFRED.  Parents may be interested in specific lesson plans available through the website.

We'll examine data further in class and through some assignments.

Assignments

1) Make sure you are familiar with Hayek and Keynes  and figure out WHO they influenced (presidents, etc) and WHO influenced them.  Try out these links to help you:

• NPR Keynes' Consuming Ideas 
• NPR Austrian School Economics
• NPR On Capital Hill (Ayn Rand -- Know her for another day)
• The Famous People (Keynes, Hayek) 
• Econ Library (Keynes, Hayek) 

Those are just some of the links that may help -- the Web is HUGE!  Be careful out there and don't just stick with wikipedia.  It is a good starting point, but make sure you are exploring quality sites.  

2) Sutter's Mill (GOLD Fever)  Check out his life looking at land rights and mineral rights.  

• History Channel The Gold Rush of 1849
• Virtual Museum of San Francisco -- First Hand Account
• Virtual Museum of San Francisco -- Gen Sutter
• California Geological Survey -- Gold
• Maritime Heritage Project

3) Define Piracy within your decade.  How does it differ from historical pirates of the Golden Age of Piracy?  Any similarities?  How does piracy play out (what does it look like; is it respected; is it regulated; etc)

• Golden Age of Piracy (Economics of Piracy)
• The Pirate Economy (The Atlantic -- Somali Pirates)
• Somali Piracy (The Economist)
• Pirate Economics (Book Review from Scientific American)

4) Compare and Contrast the economies of North and South Korea.  

5) Keep thinking about Robin Hood and our class discussion on class (HA!)  Are there any other legendary figures that we could examine in a similar way?  Try to come up with a few!

Don't forget we won't have coop next week, so this blog is either really packed or just right!