Governance and Living Standards

Wednesday April 27, 2011 – Periods 1, 5, 7                                                              Thursday April 28, 2011 – Period 2

Today we examined the relationship between governance and living standards. We broke into our groups and discussed our answers to the statndard of living analysis on page 23 that was assigned for homework. We completed pages 28 and 30 in our IES Player’s Guide.

Governance and Investments

Monday April 25, 2011 – Periods 1, 5, 7                                                                      Tuesday April 26, 2011 – Period 2

Today we examined the relationship between governance and investments. We completed pages 22 and 26 in our IES Player’s Guide. The Standard of Living Analysis on page 23 was assigned for homework. As part of our look at investments, we discussed the spread of multinationals in developing countries as a source of capital and jobs. We watched part of a documentary called Office Tigers, which looked at an IT company in India.

Office Tigers is a multi-national company that provides high-end support work to the world’s top legal firms, investment banks, and consultancies. It was started in the city of Chennai by two young Americans, and has grown to over 3,000 employees across three continents.

Shock and Awe Tour

Thursday April 21, 2011 – Periods 1, 5, 7                                                                       Friday April 22, 2011 – Period 2

Each group of economic advisors shared their data with the class. We compared each category and discussed which three categories would best describe the conditions or quality of life in a country. We completed the activities on page 18 and 20 in our IES Player’s Guide.

IES Research

Wednesday April 20, 2011 – Period 2

Research information for Country Fact Sheet on page 7 and IES Research Project on pages 11-14 in our IES Player’s Guide. You will also need to find a total of four current event articles (one per week for the next four weeks) for your IES Log on page 15.

Monetary Policy

Monday April 18, 2011 – Period 2                                                                               
Tuesday April 19, 2011 – Periods 1, 5, 7

The federal government uses monetary and fiscal policies to stabilize and keep the economy healthy. Monetarism and the monetarists believe that fiscal policy is not as important as monetary policy, which addresses how the Fed controls the rate of growth of the money supply. Supporters of monetary theory believe that the Fed should increase the money supply at a smooth rate each year. Monetarists believe that the main problem with fiscal policy is that it cannot be implemented effectively.

IES Research

Thursday April 14, 2011- Periods 1, 5, 7                                                                        Friday April 15, 2011 – Periods 1, 5, 7

Research country fact sheet and IES project.

Fiscal Policy

Tuesday April 12, 2011 – Periods 1, 5, 7                                                                Wednesday April 13 – Period 2

The two problems that destabilize the economy are unemployment and inflation. The federal government uses monetary and fiscal policies to stabilize and keep the economy healthy. The fiscal policy approach to stabilization involves taxation and government spending policies. John Maynard Keynes, whose ideas became known as Keynesian theory, believed that the government should intervene in an economic recession to stimulate demand. Keynesian economists think that a central problem during a recession is reduced demand. In contrast, supply-side economists see supply as the focus for economic stimulus. Supply-side economists think tax cuts stimulate private investment and employment.