Hills – Economics
Hills – Economics
Boyne Economics Illustrated
Introduction:
Students will choose from a list of potential economic topics and create a two-part book entry on the term. Topics will be comprised of common economic terms that we have covered throughout the semester and require additional research and application.
Essential Questions:
1. How do Economists view the world?
2. What language do they use?
3. What can economists teach us about human behavior?
4. What can economists teach us about current events?
Task:
The first part of the project (“left side”) will contain definitions of the term and at least three examples of its application. The second part of the project (“right side”) contains an original article applying the economic term to a current event or facet of human behavior and a corresponding personally created visual. Additionally, each person will be responsible for creating three quiz questions for their term.
Expected Outcomes:
Students will know:
1. What economics is.
2. The basic principles of supply and demand.
3. Twenty-five to fifty economic terms; their definition, illustrative examples, and how they apply to human behavior and current events.
Students will be able to:
1. Conduct research about an economic term.
2. Develop three questions on their term to be used on a quiz taken by their peers.
3. Conduct research and write a non-fiction article about the application of an economic principle.
Timeline:
Day 1 - Choose topic begin research on definitions
Day 2 - Lab - 4 sourced definitions/4 sourced examples
Day 3 - Lab - 4 sourced definitions/4 sourced examples
Day 4 - Left Side – definition/examples
Day 5 - Peer Review – Left side Paper/Illustration work
Day 6 - Right Side article development
Day 7 - Right Side article review
Day 8 - Quiz development
Day 9 - Check for understanding Quiz – Left/Right Side Due
Topics:
Chapter 1: People choose
• Scarcity
• Productive Resources
• Production Possibilities
• Free Riders
Chapter 2: All choices involve costs
• Opportunity Cost
• Cost/Benefit Analysis
• Moral Hazard
• Externalities
Chapter 3: People respond to incentives in predictable ways
• Incentives
• Taxes
• Tariffs
• Productivity
• Equilibrium
• Complements/Substitutes
Chapter 4: Economic systems influence individual choices and incentives
• Allocation
• Choices
• Capitalism
• Communism
• Incentives
• Free Enterprise
Chapter 5: Voluntary trade creates wealth
• Specialization
• Markets
• Invisible Hand
• Monopoly
• Trade
• Supply and Demand
• Oligopoly
• Division of Labor
• Monopolistic Competition
Chapter 6: The consequences of choices lie in the future
• Unemployment
• Gross Domestic Product
• Inflation
• Standard of Living
• Public Policy
• Monetary Policy
• Diminishing Marginal Utility
• Fiscal Policy
• Unintended Consequences
Name Topic Left Side Right Side
Scarcity
Productive Resources
Production Possibilities
Free Riders
Opportunity Cost
Cost/Benefit Analysis
Moral Hazard
Externalities
Incentives
Taxes
Tariffs
Productivity
Equilibrium
Complements/Substitutes
Allocation
Choices
Capitalism
Communism
Incentives
Free Enterprise
Specialization
Markets
Invisible Hand
Monopoly
Trade
Supply and Demand
Oligopoly
Division of Labor
Monopolistic Competition
Unemployment
Gross Domestic Product
Inflation
Standard of Living
Public Policy
Monetary Policy
Diminishing Marginal Utility
Fiscal Policy
Unintended Consequences
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Boyne Economics Illustrated
The “Right Side” requirements:
Project: Develop an original contemporary issue article on the topic of your choice.
Overview: For this portion of the Boyne Economics Illustrated project, you will investigate a contemporary issue through the lens of your economic term. You will write a 2-3 page paper that will be condensed to fit the “right side” of our Economics book. You will also be creating an original illustration to go along with your article.
Topic Selection: When choosing a topic, be sure that it satisfies the following requirements:
1. The issue you are investigating has been in the news sometime in the past year (do a google search if you are unsure).
2. The issue is substantive (it should be meaningful in some way – not just “cute”)
3. The issue can be better understood by using “an economic lens.” In other words, your term helps shed light on the issue.
Sources: Follow these requirements:
1. You must use at least Five of these kinds of sources:
• Newspaper Articles (they can be online, but the publisher must be legitimate)
• Magazine articles (use Article First search at the Michigan Elibrary – and do a search for full text only articles: you can also try other online database searches at ). Suggested magazines – Time, Newsweek, The US News and World Report, and The Economist.
• Books
Proposal: For your proposal, write a one or two paragraph explanation of the following:
1. The issue you are to investigate.
2. How your economic term sheds light on this issue.
3. Your sources.
Outline: Once your proposal has been approved, begin writing a detailed outline. Aim for at least four paragraphs.
1. Your outline is due at the end of class on Monday Nov. 22nd.
Article: Expectations for your article:
1. Your article engages the reader’s interest
2. Your article leaves no doubt as to your topic and how is applies to your issue.
3. Your writing is clear and free from errors in grammar and spelling.
Print: Once your proposal has been approved, Find or create an image that corresponds to your topic. Use the following guidelines for your original illustration:
1. Your image should be completed on a standard size piece of blank sheet of white paper.
2. The image will be scanned and reduced to fit in with your “right side” article.
3. Your illustration should have a clear connection to your topic.
4. You image should be high contrast (black and white).
5. You should NOT use clipart.
6. You should NOT use (or need to use) any additional text.
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Illustration Examples:
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Hills – Economics
Boyne Economics Illustrated Grading Rubric
Introduction:
Students will choose from a list of potential economic topics and create a two-part book entry on the term. Topics will be comprised of common economic terms that we have covered throughout the semester and require additional research and application.
Task:
The first part of the project (“left side”) will contain definitions of the term and at least three examples of its application. The second part of the project (“right side”) contains an original article applying the economic term to a current event or facet of human behavior and a corresponding personally created visual.
Left Side:
Definitions - Score 5/
|5 - 4 = Well written/organized |3 - 2 = Appropriate definitions |1 - 0 = Incomplete or missing |
|definitions from reliable sources.|with questionable sources or |definitions with no or unreliable |
| |poorly organized/written |sources |
Examples – Score 10/
|10 – 8 = Properly formatted |7 – 4 = Examples are generally |3 – 0 = Examples are poorly written|
|(sourced) and grammatically |accurate in format (sourced) and |or missing. Several problems with |
|accurate written examples relevant |grammar. Topic tends to be |the format and grammar. Topic is |
|to chosen topic. Example leaves no|identifiable in most examples. |not easily identifiable with |
|doubt as to what the topic is. | |examples. |
Right Side:
Illustration – Score 10/
|10 – 8 = Original illustration with|7 – 4 = Original illustration |3 – 0 = Illustration somewhat |
|clear connection to topic. Printed|generally connected to topic. |related to topic. |
|on standard sheet of white paper |Printed on paper with contrast. | |
|with high contrast (black and |Mostly free of clipart images or | |
|white). No use of clipart or |additional text. | |
|additional text. | | |
Article - Score 25/
|25 – 17 = Approved original |16 – 9 = Original topic |8 – 0 = Topic is somewhat/not |
|contemporary topic (developed) |highlighting chosen term. Some |related to chosen term. Few facts |
|highlighted by chosen economic |research is evident with few |and little evidence of research. |
|term. Article is well developed |supporting facts. Generally free |Grammatical errors are present. |
|and researched (3 sourced |of major errors in grammar. | |
|resources) with supporting facts; | | |
|well written and free of errors in | | |
|grammar. | | |
Additional Scoring:
Peer Review of draft definitions and examples Score 5/
Rough Draft of Article Score 5/ [pic]
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