Week one is done!

Update

The first week is finished and we are hitting the ground running in our Econ class. This past week and next students are learning about the basics of economics; Supply and Demand, the "Rational Man," incentives, and more. Students had an assignment due Friday (which is already in Gradebook) whereby they created Demand Schedules and Curves based on surveying the quantity demanded from their classmates (and perhaps even some of you) at five different price points in order to gain an understanding of how Demand differs from quantity demanded.

While we only talked about Demand and factors that influence it this past week, tomorrow we will look at Supply and Market Equilibrium. If students are having difficulty with these concepts, I'd recommend checking out Khan Academy's tutorial, which I think is really helpful.

Upcoming stuff

Next Wednesday (or Thursday at the latest) we will be having our first test on the basics of Economics.  Topics covered will include:

• Economics, basic definitions (Micro vs. Macro, types of economics, 'The 3 Questions')
• Demand
• Factors influencing Demand
• Supply
• Factors influencing Supply
• Market Equilibrium

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I hope you all are having a great weekend and look forward to our next (full) week at school on Monday!

Sincerely,

~Mr. Grieve
arch.grieve@wright.edu