Saturday, October 2, 2010

Financial Literacy and Katrina

Summary: Atlanta Fed Lesson.

I've been watching Boston Legal as ethos for my law class.  In Season 3, Alan and Denny try a case in New Orleans about a doctor who relieved pain for suffering patients during Katrina.  The Atlanta Fed has a lesson plan here.

I am always interested in how law and economics mix.  Do you think a doctor has the ethical duty to relieve the pain of a patient or the duty of self preservation? 


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Friday, October 1, 2010

Online Learning

Summary: St. Louis Fed. Interactive Lessons.


Have you seen what the St. Louis Fed is doing lately.  Click here.

About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Sunday, September 26, 2010

Shopping Blocks

Summary: Build your own boutique.  Microeconomics simulation.

MSN has a link to a game on today's homepage.  The link is

http://zone.msn.com/en/shoppingblocks/default.htm?gt1=29000

I didn't play the game.  If you like this stuff and it does involve microeconomics, please comment.  I am looking for ways to move more and more AP instruction to the computer as requested by the state to align with 21st Century skills.  Last week, I had two gamers look at Genirevolution

Iowa is one of nine states that require technological efficiency to be taught.  Such tools as Web 2.0, media fluency, effective communication, and ICT must accompany skill found at the top of Bloom's Taxonomy.  I believe this is a necessary step to prepare students for an employment landscape where the factors of production can instantly move.



About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Thursday, September 23, 2010

Building the GDP Deflator

GDP Deflator
brought to you by Livescribe

Summary: GDP Deflator.






About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Tuesday, September 21, 2010

How to Construct the CPI

Summary: Fixed market basket. CPI.



About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Sunday, September 19, 2010

Financial Literacy Game

Summary: The Council for Economic Education.  Mission Possible game.

www.genirevolution.org/ is the link to an online game that combines leaning, earning, and investing skills into a dymanic game to teach financial literacy. 



About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics.  Help your students pass the AP Microeconomics exam by using Econexamcram on the iTunes store.

Financial Literacy Online Instruction

Summary: The FDIC has a nice online banking unit. 

Students will have to register first.  Then sit through a demonstration on how to use the menus.  But, this unit replaces a large portion of my text and it's excellent.  You'll also need the latest version of Adobe Flash.  The program is also available in Spanish.  You can have the text read aloud too. 

I believe students have to use online tools to stay competitive.  This is an excellent use of the Web to teach.

Here is the link:  http://www.fdic.gov/consumers/consumer/moneysmart/mscbi/mscbi.html



About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics.  His iPod app, Econexamcram, will help your students study for the AP Microexam. 
Monday, September 6, 2010

St. Louis Fed | Education Resources | Classroom Resources | Online Learning

St. Louis Fed Education Resources Classroom Resources Online Learning

This class in on the time value of money. HT to Scott Wolla.
Tuesday, August 3, 2010

Money Supply Process

Summary: Interactive from Wolfram.

This demonstration using Mathematica Player is superb.

There are other demonstrations like the Solow Growth Model.  HT to See The Invisible Hand. 
Saturday, July 24, 2010

Long Run Supply for AP Macro

Summary: Absolutely the best in AP prep.

Worksheets on LRS for the AP Macroeconomics exam is here

I used the FRED data base to show the natural rate of unemployment and natural rate of GDP growth.  You will find these problems good for review or teaching.


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Wednesday, July 21, 2010

Aggregate Supply Worksheet

Summary: Practice with the SRAS model.

Here's the Google Document.

I wrote these problems to help students understand the different slopes of the SRAS curve. I'm proud of my explanations. The problems will be a breeze for you AP Macroeconomics students.


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Monday, July 19, 2010

Aggregate Demand Worksheet

Summary: Aggregate Demand Worksheets

The pdf, Google Document is here. The best things in life are free.


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Tuesday, July 13, 2010

Basic Concepts for AP Macroeconomics

Summary: 10 pages of basic macro concepts.

The Google document in pdf is here.


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Friday, July 9, 2010

Market Failure and Externalities

Summary: Problems to share with your class.

Here are problems dealing with adverse selection, moral hazard, and externalities. The usual format.


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Wednesday, July 7, 2010

Perfect Competition Problems

Summary: Pdf. Google Documents.

Here is the link. I have written problems about shut down and loss minimizing position. I also included problems where students plot total revenue, total cost, total variable cost, and total fixed cost to give them intuition behind the profit maximizing position. Your comments, even if they are brutal, are welcome.


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.

Charles Leadbeater: Education innovation in the slums | Video on TED.com

Charles Leadbeater: Education innovation in the slums Video on TED.com

Summary:


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Tuesday, July 6, 2010

Short-Run Production Cost Worksheet Problems

Summary: A Google document in pdf for class instruction, review, and skill acquistion.

If you want easy problems to teach your AP Microeconomics class about marginal product, marginal cost, AFC, AVC, and ATC, these worksheets might help.

Please replicate endlessly.


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Wednesday, June 30, 2010

Elasticity Worksheets

Summary: More worksheets.

Do your students have trouble with elasticity? When I start to show them the algebra, they rapidly become tired. I wrote these worksheets to make learning elasticity easy with little need for hours of reading.


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Sunday, June 27, 2010

A Mountain of Monopoly Problems

Summary: Pdf. Google documents.

These problems will guarantee that your students will get all of the content about monopoly that is tested upon on the AP. I included pure, price discriminating, and natural monopoly. I wrote the problems in such a way that all AP content as stated in the Acorn book is contained. I tried to explain all of the concepts before each problem for those school districts that are moving away from textbooks and to Internet sources. Any feedback would be welcome.


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics. Check out his iPod app, Econexamcram, on the iTunes store.
Thursday, June 24, 2010

Logical Fallacies and Macroeconomics

Summary: A pdf Google Document.

If you teach how to analyze macroeconomics using logic, you might like this worksheet.


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Wednesday, June 23, 2010

Production Possibilities Unit

Summary: A workbook to enhance your classroom.

Here's a series of problems I wrote to help you teach about production possibilities. It's a pdf saved in Google Documents.

If you use this, let me know what you think. I challenge you to complete problem 1.


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Wednesday, June 16, 2010

Utility and Marginal Utility Worksheet

Summary: More work for your students.

An intensive worksheet on utility is saved as a pdf in Google Documents here.

I plan to add consumer equilibrium to this in the future.


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Saturday, June 12, 2010

How To Use Excel to Graph Revenue and Total Cost

Summary: This video is for an EconEdLink lesson.




About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Friday, June 11, 2010

See The Invisible Hand Blog

Summary: Exceptional blogs about AP content by authors of Marginal Revolution.

The blog is here. You will find fresh ideas on how to teach stale concepts. This blog will revitalize your teaching.


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Thursday, June 10, 2010

Excel Project -- Cost Curves

Summary: A three day project that uses a computer to reinforce students knowledge of all cost curves.

The instructions to part I and part II are here and here. The answer keys are here and here.

This project pushed me. If you use it, please send comments.


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Tuesday, June 8, 2010

Social Networking Site at St. Louis Fed

Summary: Want to connect?

If you want to connect with other professionals, you might want to look at EconEdNet at the St. Louis Federal Reserve Bank. The link is here.


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Sunday, June 6, 2010

How To Draw The Long Run Supply Curves

Summary: A slick video.



About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Friday, June 4, 2010

Long Run Supply Curves

Summary: Pdf Worksheet.

Have you wished for a teaching worksheet that explains the different shapes of the long run supply curve? Here it is.


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Wednesday, June 2, 2010

Terms of Trade

Summary: pdf.

You might like this pdf on terms of trade. This is a teaching worksheet that instructs and applies the concept. If you don't have the time to explain terms of trade to your students, you will like this worksheet.


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Tuesday, June 1, 2010

Terms of Trade

Summary: Worksheet to teach this difficult topic.

The Google document is here.

Do your students have difficulty knowing what mutually beneficial terms of trade are? This worksheet answers all of the questions.


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Monday, May 31, 2010

How to Calculate the Terms of Trade

Summary: Terms of Trade

A YouTube video is here. I have spent years trying to explain this subject to my students. I believe I have found a way to explain this concept easily so that any student can understand it. I will have a companion worksheet up soon. The College Board says calculating the terms of trade will be tested on the AP. Here's a way to effortlessly prepare your students. I hope you find it useful.


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Saturday, May 29, 2010

St. Louis Fed | Education Resources | For Students | Podcasts

St. Louis Fed Education Resources For Students Podcasts

Summary: Here is a podcast on scarcity and opportunity cost. Milton Friedman is credited with the axiom, "There's no such thing as a free lunch."


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.

Mono Comp

Summary: pdf Google document on mono comp.

The link is here. This is a classroom worksheet to make your job teaching monopolistic competition a little easier. Students gain practice identifying profit max, total costs, profits, and x-inefficient point.


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Wednesday, May 26, 2010

Social Media in Plain English



Summary:


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Wednesday, May 19, 2010

Money Market Worksheet

Summary: A worksheet to help students determine if the FED should buy or sell securities to eliminate a GDP gap.

The worksheet is here.


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Monday, May 17, 2010

TI-83 Project--Unit Elasticity

Summary: How to make and interpret a unit elastic demand curve.

The Google document is here in pdf format. Also included is a review of the midpoint formula used on the AP Microeconomics exam.


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Friday, May 14, 2010

All About Certificates of Deposits

Summary: Learning about CDs.

Here's a link to a nice visual on CDs. HT to Tim Schilling.


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.

TI-83 Project--MC and AVC

Summary: A 20 minute project that reinforces MC and AVC characteristics.

The Google document in pdf is here.


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Tuesday, May 11, 2010

TI - 83 Project SR Supply

Summary: Use your graphing calculator to determine output for a perfect competitior.

The worksheet is here. I love this one.


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Monday, May 10, 2010

Phillips Curve Practice

Summary: A worksheet that relates changes in AD and AS to the SRPC.

The link is here. The worksheet is loosely based on the 2009 AP Macroeconomics long essay problem plus what others have written on the College Board EDG.


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Saturday, May 8, 2010

TI 83 Project--SR Costs

Summary: Down and dirty worksheet on SR costs for a TI-83.

The link is a Google Document here.


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Wednesday, May 5, 2010

Powell Center for Economic Literacy

Summary: Call for lessons.

The Powell Center for Economic Literacy and the Federal Reserve Bank of Richmond are looking for a few GREAT teachers to participate in the expert teacher panel at the 2010 International Teachers' Conference for Advanced Placement Economics, taking place in Richmond, Virginia on November 14-16, 2010. Please review the criteria below and submit your teaching ideas, lessons and/or activities to address one of the following "tough topics to teach".
Microeconomics:Monopolistic competitionSubsidiesDemand price elasticity
Macroeconomics:Economic growthCapital formationReserve requirementsMoney supplyReal wages
Monetary policy and inflation:Phillips CurveReserve requirementsUnemploymentEach Proposal Must Include:•- Title of your presentation.- Area(s) of interest or concepts discussed (related to at least one of the desired topics).- 300-500 word description of how you teach this concept in your classroom.•- Feedback from your students about this lesson / activity.- A copy of the lesson plan / activity / handouts (including all categories in the Powell Center lesson template; see http://www.powellcenter.org/uploads/Growing%20Food%20Problem.pdf- Indicate if the lesson has received any awards or if it has been published.•
Teachers who are selected to sit on the panel will receive an all-expenses paid trip to Richmond for the conference (including registration). Hurry! All proposals must be received by Friday, June 4, for consideration. Please send proposals to Jenn Cornell at jcornell@powellcenter.org> or 804-741-2806 with any questions.


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.

Loanable Funds PDF

Summary: Worksheet for rapid improvement on loanable funds.

The link is a Google Document. The worksheet is here. I classroom tested this today. I hope all errors have been removed. I received a lot of discussion on this worksheet. I felt this was one of the best lessons I wrote.


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Monday, May 3, 2010

International Finance

Summary: Work your students will love.

Tariffs. Quotas. Exchange Rates.


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.

Exchange Rates Worksheet

Summary:A down and dirty worksheet for teaching appreciation and depreciation.

The Google Document is here. I love this one.



About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Sunday, May 2, 2010

International Finace--Quota Worksheet

Summary: What's better, a quota or a tariff? This worksheet explores a change in demand on revenues and prices.

The worksheet is here.

I still need to post answers. Sorry.


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.

International Finance--Tariff Worksheet

Summary: A worksheet that shows the effects of a tariff on price, consumer's and producer's surplus and more.

A worksheet is here.

This time of year is busy. I made this worksheet to teach the effects of a tariff on imported goods. Hope you find it useful.


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Thursday, April 29, 2010

Loanable Funds Worksheet

Summary: Finally, the work.

http://docs.google.com/Doc?docid=0AVozGZaJansrZGZrMzk2N3FfNDBnNm00cnFnNg&hl=en

http://docs.google.com/Doc?docid=0AVozGZaJansrZGZrMzk2N3FfNDBnNm00cnFnNg&hl=en

http://docs.google.com/Doc?docid=0AVozGZaJansrZGZrMzk2N3FfNDVjZGhqeHFkYg&hl=en


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Tuesday, April 20, 2010

Mimio Interactive Teaching

Summary: Better than a Smartboard.

Are you looking for a cheaper solution for interactive learning? Try a Mimio.







About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.

Loanable Funds Day 2

Summary: Lesson plan to teach the Loanable Funds Market.

The link is here. In this lesson, I show how to prove that savings equals investment from the spending approach to calculating GDP.







About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.

AP Microeconomics Review

Summary: Cheat Sheet. Excellent.

This micro review contains all essential graphs and explanations. HT to Sally Dickson, Austin, TX.

Day 2 of Loanable Funds Market will be posted later today.







About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.

Sunday, April 18, 2010

Teaching the Loanable Funds Market In AP Macro

Summary: A daily lesson plan for teaching the loanable funds.

The Loanable Funds Market confuses AP Macroeconomics students and teachers. I have attempted to write worksheets to supplement your textbook that will lead your students to the correct conclusion about policy and investment decisions made in introductory macroeconomics. The link to Day 1 is here. Please photocopy and share. I welcome comments.







About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Monday, April 12, 2010

Interactive Graphs

Summary: Flash annimation.

If you want interactive activities for your students, consider ThinkEconomics. After a short introduction to a concept, your students can practice.

Reffonomics.com is a wonderful source of interactive learning. As the AP exams near, anything you can do to help students prepare would be welcomed by the students.

For an iPod app on AP Microeconomics, go to the iTunes store and find, Econexamcram.







About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Sunday, April 4, 2010

Ales Tabarrok on TED

Summary: Why Ideas Trump Crises


Here's the TED link.








About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.

Friday, April 2, 2010

Projects in AP Microeconomics

Summary: Project ideas.




Why do women earn less than men?

Even when women have the same education and the same grades, they earn less. Women earn less whether they are surgeons, dentists, lawyers, or accountants. Why?

A good student project would be to explore this topic. Students will find that on a whole women earn less than men because they work less hours. Usually women care about household production more than men so they choose to work less. Also, women are the caregivers. The Census in 2000 showed that women end up working 20% less than men over their careers. Women work closer to home so they take lower paying jobs. These are all of the reasons microeconomists usually give.

I think women's wages are related to their ability to negotiate a higher wage. Either they crowd into a market traditionally dominated by women or they think they can work harder and earn more. With less than 3% of CEOs women, the latter view is impoverished.



About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Tuesday, March 30, 2010

Hayek v. Keynes

Summary:



Who do you agree with?



For the lyrics, go to Econstories.tv. HT to Connor Lawrence.



About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Wednesday, March 24, 2010

The Teaching Economist

Summary: Tips for teaching economics.

Dr. William McEachern writes a newsletter filled with tips on how to effectively teach economics. My favorite part of the newsletter is "The Grapevine." Here is the link.

I found myself looking at every back issue.







About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.

Tuesday, March 23, 2010

Interactive MS and Loanable Funds Graphs

Summary: Reffonomics.

An excellent review of the Loanable Funds Market and the Liquidity Preference models are here. Your students will "own" these models after working through the interactive graphs. I highly recommend this exercise for the serious AP Macroeconomics student,







About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.

Monday, March 22, 2010

Free Ride Domination

Summary: High Tech High video.





s

This is a HTH project. Students had to produce the music too. Do the projects work?

According to research and policy director, Laura McBain, 100% of the HTH students attend college on graduation. Many of these students major in math and science. HTH students have a demographic composition that mirrors San Diego. The results are impressive and so are the teaching staff. The rooms are open so students can freely move around the room to utilize space effectively. I never saw a student who wasn't engaged in project learning.





About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.

Economics Illustrated

Summary: High Tech High. Economics Project







This textbook was produced by Mr. Dan Wise's 10th grade economics class at High Tech High in San Diego, California. This textbook is very good. In Mr. Wise's class, learning outcomes are project based. In his class of approximately 30 students, every student was engaged in active participation.

Teaching AP Economics requires a rigorous approach to content. Many times students are required to sit and get or listen to a chalk talk. My students know the material for the test, but forget as soon as they can after the test. The projects I saw around the room and in this book are made to stick. I asked a young author about her article on the wall and she could recall it clearly. This is learning--a dependable change in student behavior.

Mr. Jason Welker used Wikis to build his online book. Technology has made it easy for anyone to enter the publishing market pushing the marginal cost to zero. After seeing both Messrs
Wise and Welker's work, I know I have to have more project-based learning in my class. Recently, I made Excel spreadsheet problems and TI-83 problems in which the software handled the graphing. I am convinced that writing is the secret to long-lasting learning.

Please share any projects you have used in class to teach economics.
About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics. He was a 2008 ISEA teacher of the year finalist and a Toyota teacher of the month.

High Tech High Textbook

Summary: A very good student produced textbook.







This textbook was produced by Mr. Dan Wise's 10th grade economics class at High Tech High in San Diego, California. This textbook is very good. In Mr. Wise's class, learning outcomes are project based. In his class of approximately 30 students, every student was engaged in active participation. Classes are long enough to allow students time for inquire and production.

I asked student learners random questions about their work, and each student answered accurately. In this high school, 100% of the students attend college with a wide demographic composition.

Jason Welker produces his student book with a wiki. In both cases, students generate the content and use multimedia to learn. Traditional instructional methods like chalk and talk or sit and get work for some learners. But activity based learning produces indisputable outcomes.

I will post Mr. Wise's video on "Free Riders" after I travel back to Muscatine on Wednesday.
About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He was the ISEA finalist for teacher of the year in 2008. Recently, he was awarded Toyota Teacher of the Month.
Friday, March 19, 2010

Derivation of the Supply Curve in AP Microeconomics


Summary: Prices of coffee and deforestration.


Many third-world countries export coffee as their main export. In this graph, I've plotted data on prices paid to coffee growers in Indonesia and the percent of forest area lost in a national park that lies in a coffee-producing region.



This data is from, Caffeine and Conservation by Timothy G. O'Brien. I intended to show that as prices increase, incentives to produce more coffee at the expense of national park land increases. This is exactly what the supply curve in AP Microeconomics captures.









About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.

See The Invisible Hand

Summary: Marginal Revolution authors new book resources.

Authors Alex Tabarrok and Tyler Cowen write Marginal Revolution for serious economics enthusiasts. Their new text book, Modern Principles pioneers macroeconomic principles introductory textbooks omit. For example, their chapter on growth is brought down to a level of understanding that high school students can understand. This topic is always presented in intermediate classes. Also, their chapter on business fluctuations and dynamic AD/AS model is superior and forward thinking.

If you are looking for resources such as videos and PowerPoint slides on introductory topics for AP Microeconomics and AP Macroeconomics, visit their companion website for their book. The site is See The Invisible Hand. One of my favorite quotes is, "Only in economics can a ceiling be below a floor."







About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Thursday, March 18, 2010

A Long Way Gone

Summary: Economic concepts from a best seller.

Ishmael Beah writes that a bribe to the immigration officers was 300 Leones to one Guinea. In terms of Guineas, how much as one Leone worth?

When Ishmael was working through rebab, he was given school supplies. He sold them so he could have money to go to the city. Eventually, he could not sell the supplies at any price. Was this a change in supply or a change in quantity supplied?

When Ishmael was in rehab, one of his friends was given a soccer shirt. The friend rented it out for toothpaste and soap. What tenet of capitalism does this illustrate?

Why does Africa's stagnate?

These are some questions I had as I read this powerful book. If you have students in AP Literature class, maybe answering these questions will make economics relevant in other content areas.

My answers to the questions are: .0033; change in quantity supplied; private property; and incentives are destroyed. In the last question, agricultural crops were stolen by the rebels and many men and children were killed. As long as there is civil war in Sierra Leone, the country will not grow.

One last thought. Can a free market develop without a government?

It seems to me that there must be some enforcement mechanism in place for the price system to work or disorder will develop. The questions run too deep right now.







About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Tuesday, March 16, 2010

Gapminder


Summary: Visualizing data.



Hans Rosling roiled the world with his TED Talk on dynamic data.


The Gapminder website describes the site as, "Gapminder is a non-profit foundation based in Stockholm, Sweden. We are promoting sustainable global development and the achievement of the United Nations Millennium Development Goals by unveiling the beauty of statistics for a fact based world view."


This site makes complex data understandable. According to the Economist, Wal*Mart stores one million pieces of data per hour about store transactions. Data store now approaches petrabytes. A petabyte (derived from the SI prefix peta-) is a unit of information or computer storage equal to one quadrillion bytes (short scale), or 1000 terabytes, or 1,000,000 gigabytes. So our challenge as a teacher is to make data meaningful. This is what Gapminder accomplishes.











About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.

Monday, March 15, 2010

Summer AP Institutes

Summary: Search for training near you.

The College Board has a link here.

I wish I could attend a training session every year. My favorites were at the University of Iowa with Amy Shrout and University of Wisconsin-Madison with Wayne McCaffery. At both training sessions I brought home tons of resources. I also brought home a passion for teaching that each of these instructors instilled in me.







About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.

Evoke--A Game for Change in Africa

Summary: Put your game on.

I'm reading "a long way gone" by Ishmael Beah. Every day I wish for peace in Africa. The students in my class have seen horrors or war and refugee camps. Africa needs clean water and stability. Evoke is a game for change in Africa. It's only available for 8 more weeks. I have not played the game and encourage feedback.








About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.

Saturday, March 13, 2010

Featured Blog

Summary:

EconTalk host, Russell Roberts.




Hello! I've been working to make a summer reading project for AP Microeconomics teachers who read this blog the last two weeks. One of the books I highly recommend is The Price of Everything, by Russell Roberts.

In this book, Mr. Roberts discusses how prices emerge to allocate scare goods, how consumers benefit from the profit motive, and more. I have taught AP Microeconomics for 10 years and I had to admit the lessons in this book on supply and demand were some of the best I have read. After reading this book, I can simply state to colleagues why perfect competition has provided a higher standard of living and why price gouging is a myth.

I have heard many times that genius is in simplicity. As a mock trial teacher I know the most powerful way to sway a jury is to tell them a story. This book plaintively tells a story and teaches the heart of economics.

I hope to have a lesson plan available soon for download to readers of this blog.


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.

Monday, March 1, 2010

Keynesian Cross

Summary: TI-83 project.






Keynesian Cross -

I was teaching the multipliers last week when it occurred to me that every student in my class had a graphing calculator. Using the TI-83 we we able to see the algebra, graph the function, and change parameters instantly and see the results. Later, I found that the TI-83 has software installed on it to make flashcards. This weekend, I made a stack and it's better than my iPod app, Econexamcram.

I'm going to have students download the stack to their graphing calculator for the macro review. I have not been able to figure out how to send the file but I will send the file to interested readers when I do. Another problem is that the calculator does not support graphs well in the flash cards.



About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Saturday, February 27, 2010

Occupational Crowding for Microeconomics

Summary: When the supply of labor increases, the wage rate falls as shown here.







About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Friday, February 26, 2010

Library of Economics and Liberty

Summary: Resources for the serious teacher.

For the instructor who has students who want answers to difficult questions, the Library of Economics and Liberty is the place to find the answers.







About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.

Wednesday, February 24, 2010

I, Pencil

Summary:







Here is Leonard E. Read's brilliant essay on how a pencil is made by parties acting in their own self interests. The essay is from Russ Roberts book, The Price of Everything.

After reading this essay, can you explain market forces? How does self interest produce a pencil? Say millions of new Chinese move from the country to the city to attend schools. How does the market produce enough pencils so that everyone who wants a pencil can have one?

Russ Roberts has a podcast about this at EconTalk.org.

About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.

Every Graph You'll Need for AP Macroeconomics

Summary: This video claims to have it all.

Check out the Phillips Curve.








About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Tuesday, February 23, 2010

Featured Blog

Summary: David Mayer's website.

Here's the link.

Mr. Mayer is an AP reader. There's an email link with questions too. You'll find PowerPoints, video clips, and handouts.







About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.

Sunday, February 21, 2010

Survey Your Students

Summary: Cell phones in classroom.

If you want to survey your students to see if they are learning, try using their cell phones. The site is: http://www.polleverywhere.com/ HT: Rich Wiess.

The SMG is a powerful tool that I believe teachers are under-utilizing. I admit that I don't know all of the features on my Blackberry. I called my cell phone provider to learn how to add a new group so I could send one text message to several students. Later this week, I want to begin sending questions and content for AP Macroeconomics.

I would welcome any suggestions.







About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.

Friday, February 19, 2010

Economics of Cooperation

Summary: Free publication.

A recent article in the Economist discussed how business models are more collaborative. In the World is Flat, Thomas Friedman, explains how software allows use to collaborate with others around the world while you are sleeping. Just what are the economics of cooperation? The Dallas Fed has a publication here. The publication could be used to show how comparative advantage maximizes the benefits from trade.

Mark Perry posted an blog about the number of women graduating from college with advanced degrees. His post showed that women now outnumber men and the trend will continue as men prefer jobs that use their hands. One of the arguments I hear is that women are innatelly different than men in the way they work. As the argument goes, women are able to build consensus, are less aggressive, and are concerned less about ego than men. So it's likely that women will chair top companies and use a collaborative business model.

In developing my iPod app, Econexamcram, I used Skype to work with programmers in India. In designing my new web page, I used PayPal to find a programmer online. I am collaborating with others who specialize in the areas I want and we are trading based on our comparative advantage. This is what economics teaches.

In working with others from around the world, I have learned that the comparative advantage is dynamic. When changes occur in the market place, such as the new e-book readers, the comparative advantage shifts. Working with others requires communication and technology skills in order to survive.








About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.

Thursday, February 18, 2010

Comic Books For AP Economics

Summary: NY Fed. Graphic Novels.

An excellent source of economic instruction are the comic books you can order from the New York Federal Reserve Bank. The complete list is here. You'll find that the Fed tackles inflation, what is money, monetary policy, savings and more. I've used the comic books in a time crunch as a substitute for my textbook reading. I think a classroom set of comic books are free.







About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA.
Wednesday, February 17, 2010

Bitstrips for AP Economics

Summary: Make cartoons for your classroom.

Bitstrips allows you and your class to make cartoons. As the saying goes, "one picture is worth a thousand words."

As an experiment, I'm going to use the software to help my students pair through operant condidtioning, economics concepts with pictures.

I welcome any other cartoon making software suggestions. Bitstrips is not free.







About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.

Monday, February 15, 2010

Automatic Stabilizers

Summary: Fiscal policy.

When the economy dips into a recession, workers lose their jobs and government tax revenues fall. Unemployment benefits automatically kick in to offset some of the loss in spending. During a boom, progressive taxes take more of a workers check so inflationary flames aren't fueled. Usually, fiscal policy takes government approval and is subject to lags. Automatic stabilizers take both the politics and lags out of the business cycle. Which below are automatic stabilizers and which are discretionary?

1. Government spending for a tank. 2. Transfer payments increase during a recession. 3. An increase in corporate income taxes. 4. Progressive income taxes. 5. Unemployment benefits.

My answers: 1 and 3 are discretionary.







About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Sunday, February 14, 2010

Aggregate Demand



Summary: Real money balances.


In AP Macroeconomics, I like to show that the AD curve slopes downward and to the right because of real money balances. That is, at higher price levels, consumers will buy less. The graph to the right shows that less real GDP is purchased when the price level is 200 than 50. The AD should be curved but this blogs just illustrates the relationship.

The other reasons are the effect of interest rates and the exchange rate.

As the price level falls, more real GDP is produced. What happens to employment?








About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Thursday, February 11, 2010

Real Interest Rates

Summary: Two-minute drill. Fisher effect.

Using the equation for calculating real interest rate, r, to complete the problems below. In this drill, i, equals the nominal interest rate, and e equals the expected rate of inflation.

1. i = 8; e = 2; r = ?

2. i = 8; e = ?; r = 10

3. i = ?; e = 7; r = 6

4. i = 3; e = 1l r = 2

Using the AP Macroeconomics formula, r = i - e the answers are: 6,-2,13, and 2. Sure looks like borrowing was really expensive in problem 2.

When I explain nominal interest rates, I tell the students that this is the rate posted by a bank. It is the rate you'll find in the newspaper. Nominal means in terms of money or currency. The real interest rate is measured in a basket of goods. So the real interest rate measures how much you'll repay in a basket of goods. When inflation is high, you'll be repaying the loan, by the repayment buys less goods than when the loan was made.

Is inflation bad? My answer is it depends. Inflation has winners and losers. If a bank extends a fixed rate loan and unanticipated inflation catches the bank off guard, then the bank is hurt but the debtor is helped. So inflation would be bad for the bank but good for the debtor. The economy overall is neither hurt or helped.







About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Sunday, February 7, 2010

AP Macroeconomics Assignment using FRED

Summary: GDP assignment using FRED.

FRED Data Base Name __________________________
GDP

1. Navigate your browser to: http://stlouisfed.org/index.cfm
2. On the tool bar, select “Research and Data” highlighted in maroon.
3. On the top tool bar, select “FRED®”
4. On the Economic Research page, select, “Gross Domestic Product (GDP) and Components”
5. Now select, “GDP/GNP (23)”
6. Select, “GDPA”. A graph should appear. Print this graph. This graph is “Nominal GDP.”
7. Select, “View Data”. Record the data into the table below.
8. Next, select, “GDPCA”. Print this graph. This graph is “Real GDP.”
9. Select, “View Data”. Record the data into the table below.
10.Use a calculator to compute the GDP Price Deflator for 1960, 1970, 1980, 1990, and 2000. The GDP Price Deflator in 1960, was 18.59 by my calculations (526.4/2830.9 = .1859 * 100).
11. Turn in two printed graphs and completed table above.

Extra Credit:

1. Calculate the GDP growth rate between decades for Nominal and Real GDP.
Interpret both growth rates.







About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.

GDP and Pizza

Summary: Online learning module.

When the economy dips into a recession, unemployment increases and tax revenues fall. Public schools base their budgets on projected tax revenues. In Iowa public schools are faced with across the board budget cuts and staff reduction through attrition and reduction in force. Public school teachers have been forced to do without vital learning tools such as textbooks. This semester, I have been experimenting with online teaching. One resource I found, is provided by the St. Louis Federal Reserve Bank.

This online module, GDP and Pizza, promises to replace the 30 plus textbook pages of reading from my textbook authored by Paul Krugman and Robin Wells. I am excited about using online content because I think students interact with the data and often click on related links that they find relevant.

This is just one online learning module. I want to find as many as possible, such as the ones found at the Powell Center for Economic Literacy.

I also want to find content that is delivered directly to a cell phone such as the one Jason Welker provides.

Teaching AP Macroeconomics is theoretical and requires a disciplined student. I believe if we work together, we can compile online learning tools that deliver content and value.







About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.

Saturday, February 6, 2010

Price Indexes

Summary: Contruct and interpret a price index. GDP Price Deflator.






Price Indexs
brought to you by Livescribe


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Friday, February 5, 2010

Marginal Utility Primer

Summary: Mike Moffatt.

An excellent source of economic information is at Ask.com. If you want quality information on marginal utility, try Mike Moffatt. Mike has a knack for delivering content in a readable and effecient manner. You can also receive his updates to your blackberry.

How many of you are finding that your schools are not buying textbooks? I am wondering how long it will be before all content is delivered to hand held devices like phones and Kindles.







About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, Iowa.

Thursday, February 4, 2010

Computing a Price Index

Complete the table by compute both the Base Year and Year 1 expenditures and total expenditures. Next calculate the CPI for the Base Year and Year 1. Finally, calculate the inflation rate.
I have the inflation rate at 4%.
Can you think of some reasons why inflation might have fueled price growth?
Some suggestions are: an unanticipated growth in the money supply; a fiscal policy that actually worked to create jobs; and expectations of higher prices in the future.


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.

Unemployment Rate

Summary: Two-minute drill.

The country of Alpha has a population of 450 residents. There are 5 residents in the military, 2 are retired, 3 are in prison, and 40 are under the age of 16. Calculate the civilian non-institutional population. In Alpha, there are 50 discouraged workers and 50 workers actively looking for work. Calculate the labor force, the unemployment rate, and the labor force participation rate.

Civilian Non-institutional Population is: 450 - 5 - 2 - 3 - 40 = 400

Labor Force is: 400 - 50 = 350

Unemployment rate is: 50/350 = 14.28%

Labor Force Participation Rate is: 350/400 = 87.5%

In your AP Macroeconomics class, you might want to discuss how different demographic groups are affected by unemployment. For example, teenagers typically have the highest unemployment rate. An interesting discussion topic might discuss measurement.








About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author.

Wednesday, February 3, 2010

Test Review

Summary: D&S Marketing Systems, Inc.

A review book that offers challenging review questions is titled, AP Economics, by James Chasey. The link is here. I have found this book to be thought provoking and students must synthesize information to answer the questions. This is an excellent source of free response questions too. You'll have to know your material to complete the reviews in this book.

This book provides both reviews for AP macroeconomics and AP microeconomics.







About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author.

Unemployment

Summary: Two-minute drill.

Which of the following is false?

a. The natural rate of unemployment equals the sum of frictional and structural unemployment

b. The labor force participation rate equals the labor force divided by the civilian noninstitutional population

c. Employment plus unemployment equals the labor force

d. The labor force participation rate equals the total employed divided by the civilian noninstutional population

D is the answer.

Extra credit. Why has the labor force participation rate inched upward since the 70's?







About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and blogs at Mikeroeconomics.

Toyota Recall for AP Microeconomics

Summary: Supply and demand. Price theory.







Show the video and ask students what will change--supply or demand? Next, discuss how price and quantity would change. Discuss how automobiles are produced in an oligopoly market. Discuss how prices are set either through price leadership, kinked demand curve, or strategic interdependence. As a review of positive vs. normative economics, discuss whether the government should require more regulation.


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, Iowa.

Tuesday, February 2, 2010

IOUSA

Summary: Video to help answer and begin discussion on national debt.







If you are discussing the national debt, check out this 30-minute video.

Do you believe in Ricardian equivalence? The evidence shows that most consumers did not spend their rebate check. Instead they saved part of it. Do you anticipate higher taxes? Are you going to leave a bequest? I think these questions are part of any discussion on the debt.


About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author.

Monday, February 1, 2010

Phillips Curve

Summary: Two-minute drill


Say inflation this period is 6%, people expect inflation to be 2% and the natural rate of unemployment is 5%. Using The inflation augmented Phillips Curve equation, find the value of unemployment. Assume that Pt = Pe - 2(U - Un).


The unemployment rate would have to be 3%. This equation leads to some deep insights into the working of the economy. Unemployment would have to be 2% less than the natural rate to push inflation to 6%. Workers would have to work longer and harder. Now suppose Okun's Law holds and every 1% decrease in the unemployment rate leads to a 2% increase in GDP. That means that GDP is growing at 4%--just ahead of it's natural rate.


Now suppose that the unemployment rate is 10% and the natural rate is 5%. Would you agree that it might be as long as 5 years before the unemployment rate equals the natural rate? I don't forecast any better than a divining rod, but if the economy chugs along at 2% annual growth, it might be 2015 before the recession ends. It's interesting to me that the FRED graph shown, shows that the recession is over with GDP around 1.5%.









About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author.
Friday, January 29, 2010

Financial LIteracy Skills

Summary: Intereactive game.

Financial Football is a joint effort of Visa and the National Football League to help teach financial concepts with Financial Football, a fast-paced, interactive game that engages students while teaching them money management skills. Teams compete by answering financial questions to earn yardage and score touchdowns. Easier questions earn less yardage. HT to Konrad Wilke.





About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is also an EconEdLink.org author.
Wednesday, January 27, 2010

Haiti Lesson Plan

Summary: Mr. Welker's blog.

This blog is poignant. It is filled with facts, resources, links, and discussion questions following the devastating eartquake in Haiti. I read that donations for Haiti top $200,000 and hour.





About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA.

Recessions and Educational Attainment

Summary: Insulating effects of education.

In a paper, The Effects of Recessions Across Demographic Groups, St. Louis FED economist Howard J. Wall concludes that the higher the educational attainment, the less likely the person will have lost their job during a recession. The paper is here.

There's no doubt in my mind that education is a compensating wage differential. I was wondering how many educated worked have also signed long-term contracts that protect employees from job loss and real buying power. In addition, sales jobs seem to be booming. I think some industries will suffer from the recession after inventories have been depleted and contracts have expired.

The message is clear, however, education is the key to success.







About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author blogging at Mikeroeconomics.

Sunday, January 24, 2010

Two-Minute Drill -- CPI and Inflation Rate

Summary: Calculate the inflation rate.

Assume that you are given data on the Consumer Price Index for four years. in 2006, 100; 2007, 110; 2008, 119.1; and 2009, 114.9. Calculate the inflation rate for 2007, 2008, and 2009.

My answers respectively are: 10%, 9.1%, and -4.2%.

Extra Credit. What is the real interest rate in 2009 if the nominal interest rate is 8%

Usually in AP Macroeconomics we exclude food and energy from the index since these items are volatile. I think a more accuate measure of prices would be to include all good for urban consumers since that would eliminate rural monopolies? I welcome your thoughts.







About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is also an EconEdLink.org author.
Thursday, January 21, 2010

Interactive Game for AP Economics

Summary: Peanuts and Crackerjacks.

The Richmond Fed has a fun game that combines baseball with economics. The game is here.

Do you think games aid in learning?





About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author.
Wednesday, January 20, 2010

NBER Business Cycle Dates and Duration

Summary: AP Macroeconomics data for business cycle analysis.

Is the current recession typical? How long does a recession usually last? The National Bureau of Economic Research dates the recession from peak to trough. The link is here.

Using this data, can you determine the shortest recession from peak to peak? How about the shortest recession from trough to trough? The longest post WWII recession I found lasted 128 months. For those economists who like to research, do prices ALWAYS fall during a recession?





About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author blogging at Mikeroeconomics.

Powell Center for Economic Literacy

Summary: Lesson Plans. Infusionomics.

The Powell Center for Economic Literacy is a wealth of economic resources. There are lesson plans, teacher and student programs. The latest addition it a three-year program to infuse economics into every day thinking. A link to Infusionomics is here.

I highly endorse Infusionomics. Economics is tool to help analyze and make decisions. Infusionomics integrates the economic way of thinking into daily decisions. This is the goal of economic instruction.

Later this year, the Richmond Federal Reserve Bank will host a Sunday night conference sponsored by the Powell Center. Details will emerge later.








About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA.

Did You Know--Video




This video was shown at my faculty inservice last Monday. I was left with the question, "Is globalization simply technological innovation?"

Suppose that you use Skype to hire workers in India to complete income tax forms. Isn't that choice more a technological innovation than an educational advantage? When I think of global competition, I think of markets where the prices are driven to their marginal cost. I can only see that equilibrium condition happening because of technology evens the playing field.

About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics.

Inflation Articles for AP Macroeconomics



Summary: Mankiw. Kliesen.



Is inflation the next dragon to slay? The answer is in the Regional Economist. An 11-minute video discussing the article by Economist Kevin L. Kliesen is here.



Mr. Mankiw's New York Times Article is here.

To see the M2 money supply, use FRED data base series, M2.

Extra credit. Why is deflation a problem? Why is the M2 money aggregate used instead of the M1?









About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Sunday, January 17, 2010

Types of Unemployment

Summary: What kind of unemployment is described or inferred?

Take this quiz. Identify each scenerio as "F" for frictional, "S" for structural, "C" for cyclical, or "N" for nonsense.

1. Juan, a teacher, loses his job as the economy slumps into a recession.

2. Zeglin's Appliances pay their workers an efficieny wage.

3. Workers in a drive-thru McDonalds lose their jobs as automation outsources orders to India.

4. Bill, using the Internet, finds a higher paying job in Idaho and leaves his job at Frank's Fabulous Franks.

5. A hike in the minimum wages puts thousands of teenagers out of work.

My answers in order are: C, S, S, F, S.







About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA.

US Debt Clock

Summary: Debt Clock.

The debt clock is here. Roll over a catagory to see how it was calculated and defined.

In percent, what is the debt to GDP ratio? Is it possible for a country to have a debt to GDP ratio greater than 1? According to the debt clock, is there any area where revenues are greater than expenses? Using the data for the labor force and number unemployed, what is the unemployment rate? What item composes the largest budget item? Capital inflows occur when an economy is running a current account deficit. How much of US financial and real assets held by foreigners?

In AP Macroeconomics, make sure students know the difference between the national debt and the budget deficit.





About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author, and also publishes the Mikeroeconomics and iMacroeconomics VB blogs.
Saturday, January 16, 2010

Lecture Kaizen to Develop Critical Thinking Skills

Summary: Zen master offers advice--lie.

Try this to improve your lectures in AP Macroeconomics.

The focus at my school is on instructional improvement. One area that we are trying to focus on is moving to a level of rigor and relevance. This involves having students use higher order thinking skills, HOTS. Using strategies that requires students to evaluate information is rigor in the Rigor-Relevance Model. I have found that asking higher order questions in daily conversations makes you more interesting and vibrant to be around. Let me end with this question:

Given the disaster in Haiti, compare how classical and Keynesian economists will view the recovery.







About the Author: Mike Fladlien is an AP Economics teacher from Muscatine High School in Muscatine, IA. He is an EconEdLink.org author.