Cost+Curves+Lesson

Hello students, My apologies for my absence today. I am still quite sick at home. In an effort not to get too far behind, please complete the following:
 * __Today's Lesson: Friday, March 7th, 2014__**

Info. for those who were absent:
 * **If you were absent Wednesday**, we took time to do corrections on the Unit 2 Exam. You may come in during HR or afterschool to review missed questions and go over answers. We also watched a video clip ... http://www.mhhe.com/economics/solman_video_mov/profit_mean.mov - it discusses terms/ideas found in task 2 below...(the three different types of profit). Either take time to view the video and/or pay closer attention to the reading in Task 2 in order to understand these concepts.
 * **If you were absent Thursday**, you missed the VERY IMPORTANT, and sometimes difficult, self-paced lesson on cost curves. It is listed as "Self-Paced Lesson #1 - Cost Curves" directly beneath today's agenda (below) ... and must be completed either today or for homework before Monday, including answering the multiple choice questions (and looking over any that you miss) and the "essay question" -- which is definitely not an essay question. Work out the calculations necessary to derive the ATC, MC, and MR curves for the three units lists, and then use those results to answer with the correct answer, based on what you learned in this lesson.

//__** Today's Agenda **__//

Task 1: 15 Minutes of Friday Reading Task 2: Click on link to the left "MICRO Modules" and open up Module 52. Read only as necessary, as much of the essentials were discussed in class Wednesday. Then complete the CHECK FOR UNDERSTANDING, MULTIPLE CHOICE, and FRQ questions on a separate piece of paper. Task 3: Once complete, move on to Module 53. Read this section more carefully, and then answer the CHECK FOR UNDERSTANDING, MULTIPLE CHOICE, and FRQ questions on that same piece of paper. NOTE: Similar questions will be asked on a quiz next week, so be sure to take the time to understand how to solve these types of questions, and be sure to ask if anything is still unclear.

You should be able to finish most/all of these tasks within today's period. **Your Homework assignment** is to complete both of these modules, and to finish reading chapter 8 in your book (which you all should have started this week) for Monday's class.

Please email me if you have any questions or concerns. Mr. Meier

1. Complete the Lesson: 2. Test Your Understanding
 * __Self-Paced Lesson #1 - Cost Curves__**
 * Get your notebook and a computer (either individually or with a partner).
 * Link: http://www.reffonomics.com/TRB/chapter8/COSTS6.swf
 * under the menu bar "**Microeconomics**", click on **"Costs (FC, VC, TC, AFC, AVC, ATC, MC)"**
 * Click on **"Cost Curves Link (FC, VC, TC, AFC, AVC, ATC, MC)"** (middle of screen)
 * Progress through this lesson at your own pace, taking good notes as you go. Note any questions or confusion in the margin to clarify as we have the chance. For each curve, be sure to take good notes, drawing what it looks like, and noting WHY it slopes the way it does.
 * Take the MC quiz - Link: http://www.reffonomics.com/TRB/chapter8/costs1.htm
 * Complete the 18 question quiz as best you can. Learn from any mistakes you make. Ask questions!
 * Answer the Essay question - Link: http://www.reffonomics.com/TRB/chapter8/Essay_problem_cost_unit_1.htm.
 * On a separate piece of paper. Show your response graphically, and explain your process.

STOP

__**Self-Paced Lesson #2 - Perfect Competition**__ 1. Complete the Lesson: 2. Test Your Understanding
 * Link: http://www.reffonomics.com/TRB/chapter9/perfectcompetition9.swf
 * As with the Cost Curves lesson, follow the steps at your own pace, take good notes as you go, and note any questions or confusion in the margin.
 * Link: http://www.reffonomics.com/TRB/chapter9/perfectcompetitionquiz.htm
 * Complete the 15 questions as best you can. Learn from your mistakes. Ask questions!

1. Complete the Lesson: 2. Practice
 * __Self-Paced Lesson #3 - Factor Markets__**
 * Get your notebook and a computer (either individually or with a partner).
 * Link: http://www.reffonomics.com/TRB/INPROGRESS/Microeconomicsindex.html
 * Scroll down to the category "Labor Market"
 * Click on **"Labor Market Lesson (MRP=MFC)"**
 * Progress through this lesson at your own pace, taking notes as you go. Note any questions or confusion in the margin to clarify as we have the chance. Be sure you UNDERSTAND each topic and are able to explain it before moving on.
 * Back under Labor Market Menu, play around with the MRP=MFC Application for a bit of extra practice.

3. Demonstrate Your Understanding
 * Take the MC quiz - Link: http://www.reffonomics.com/TRB/chapter13/factorsmarketquiz3.htm
 * Complete the 22 question quiz as best you can. Learn from any mistakes you make. Ask questions!

__**Self-Paced Lesson #4 - Reviewing For Chapter 1-11 Exam**__

1. Login to computers and and go to http://www.reffonomics.com/TRB/INPROGRESS/Microeconomicsindex.html 2. Scroll down to the sections titled "Monopoly" and "Other Forms of Competition" 3. With additional time, use the links on the **classroom wiki links**, the **AP Course Description** and/or **checklist study guide** to review and ask questions about difficult concepts or types of questions that are less clear. You may choose to review individually or together with others. Also, you are STRONGLY encouraged to ask questions as they arise.
 * Take at least 15-20 minutes to review the most troublesome/unfamiliar topics/graphs using the links on the right side.
 * Once you feel more comfortable with the content, complete the tasks at the following links:
 * http://www.reffonomics.com/TRB/chapter10/monopolyquiz.htm
 * http://www.reffonomics.com/TRB/chapter12/gametheoryquiz1.htm
 * Under the title COMPETITION GAMES, complete as many of the 4 competition question sets as you can before the end of class (they look like small jeopardy boards w/ true&false questions), but will help to differentiate the many different distinctions between the market structures. You must get to the point where your entire board is GREEN.

__**Self-Paced Review Lesson - Reviewing Unit 6 AND Previewing Unit 7**__

Part 1 -- Complete self-paced lesson on Factor Markets (MRP=MFC). Take notes only if it will be beneficial to you. LINK: http://www.reffonomics.com/TRB/chapter13/marginalrevenueproductmarginalfactorcost.swf

Part 2 -- Use interactive tables to practice with Factor Market Concepts LINK: http://www.reffonomics.com/TRB/chapter13/mrpmfc15.swf

Part 3 -- Complete questions 1-22 to prove that you understand the concepts. Show Mr. Meier your score when completed. If you score below 18/22, you need additional practice before the next exams. LINK: http://www.reffonomics.com/TRB/chapter13/factorsmarketquiz3.htm

Part 4 -- If you complete Parts 1-3, your next task is to preview the concept of the LORENZ CURVE (income distribution) - we will be discussing this along with positive and negative externalities in class tomorrow. LINK for LORENZ CURVE: http://www.reffonomics.com/TRB/chapter19/LorenzCurveLesson5.swf