All posts by Scorcia

Basic Fallacies, Laws and Theories of Economics

Review Normative and Positive Economics – activity

Learning Focus:

What you should be able to describe when we are done:

The Fallacy of Composition, The Post Hoc Fallacy, The Fallacy of Single Causation

Economic Laws and The Production Possibilities Curve

The Law of Increasing Relative Cost, The Law of Diminishing Returns, The Law of Increasing Returns to Scale

In Class Activity: Page 24  Communication Exercise 6 – in groups of three identify the fallacy in each scenario

Additional Practice and Review:

Read Pages  14-15

Complete Note Taking Worksheet

Celebration of Your Knowledge (Unit Test) – Mon.Sept.18th

Quiz Friday Sept. 15th

Unit Test Chapters 1-3 -Monday Sept. 18th

For the Multiple Choice  (Knowledge):

Review all of the material in the chapters including the check your understanding questions

For the Problems/Written Responses (Application and Thinking)

Areas to focus on:

  1. Production Possibilities Curves, how the PPC can be used illustrate the different laws of economics, calculating opportunity cost
  2. Political and Economic Systems

What is Economics?

Introduction to CIA4U- Things to Do:

  1. Review your TIMETABLE
  2. Read the Course profile
  3. Rules, Procedures and Expectations
  4. Get a textbook
  5. Watch the Intro Prezi

Additional Practice and Review: Read Pages 4-14

Welcome to Economics with Mr.Scorcia

Economics is about how individuals, governments, and business make choices. It involves an understanding of various economic concepts, models, and theories as well as an exploration of economic trends, policies, and practices. Through economic inquiry, you will develop your understanding of a range of economic issues, the interests and influence of different stakeholders, and the factors that influence the economic decisions of individuals and institutions.

I look forward to teaching and learning with you,

Good luck and have fun!

Please watch the following:

images: David Sutherland/Photographer’s Choice RF/Getty Images