Groups of 4
Select one of the following Economic Thinkers:
- Adam Smith
- Thomas Malthus
- David Ricardo
- Karl Marx
- John Maynard Keynes
- John Kenneth Galbraith
- Milton Friedman
- Paul Krugman
Prepare a brief outline of:
- The Times
- Ideas that Changed Economic Thought
All students are to complete a chart for each of the above:
Due: March 10th
You may select an issue in economics or a major event in economic history as your focus:
Some major events:
- The Great Depression
- Stagflation of the 1970’s
- The 70’s Energy Crisis and the Oil Shock of 1973
- The Savings and Loans Crises
- The Great Recession of 2008
- The Japanese Asset Price Bubble and the Lost Decade
- The Dot.Com Bubble
- The Greek Debt Crisis
- European Sovereign Debt Crisis
- Housing Affordability – Why are Prices Rising So Fast and What are the Consequences?
- Is Canada Getting Too Old?: Consequences of an Aging Population-An Economic Perspective.
- Organized Labor: Why Is Labor Unionism Declining?
- Women in the Labor Force: Are They Getting Their Due?
- Minorities in the Labor Force: Are They Getting Their Due?
- Canadian Tax Policy: Is the Canadian Tax System Fair?
- Poverty in Canada: Is the Middle Class Dream an Increasingly Impossible One?
- Modernization of Agriculture: Can Canadian Farmers “Make It” in the 21st Century?
- Socialism vs. Laissez-faire: What Direction for the New Millennium?
- Free Trade: are Free Trade Deals a Good Idea for Canada?
Due October 10th
1. Background Readings to be Completed: Pages 27-37
2. Additional Practice and Review: You should have notes that allow you to answer these questions or you can complete Check your Understanding 1-5 Page 34 & 1-4 Page 37
3. Class Discussion:
Who/What determines the economic system that a country uses?
Two main classifications : 1.Democracy 2. Dictatorship
Discussion: Communism, Socialism, Democracy and Fascism – which is the best for economic stability and growth?
Discussion: Every political-economic system attempts to establish goals and a focus for resources – what are those goals? Who should determine them?
4. Does economics/international trade help or hinder human development?
- Discussion: Gunder Frank and David Ricardo
- Marxism/Dependency/modernization debate
- Discussion: the North Atlantic Slave Trade Triangle and the Luddites
6. The Basic Economic Goals for Government:
Reduced Public Debt
Increased Productivity and Efficiency
Equitable Distribution of Income
Viable Balance of Payments and a Stable Currency
7. Group Assignment (Present Findings Thursday):
Complete the following chart for your assigned party (present findings on Thursday to the class):
Please post your first essay assignment to turnitin.com!
It is up and running, please excuse the delay.
Unit 1 test – Thursday Sept.21st
Tangible vs. Intangible Resources
The Environment for firms and individuals- economic systems
The 3 basic questions for any economy
The decision making framework:
- by tradition
- by command
- by market forces
Additional Practice and Review (30 min)
1.Read Pages 27-28
2.Read skill builder : Page 29 look at Questions 1-4
3. Come up with another example of adding value through additional processing or refinement of a product