Unit 3
Demand
Artisanal Firewood: Be prepared to discuss this video using the principles of economics we've covered so far.
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Class preparation
Read Ch. 3 "Value and Demand" Lecture topics The law of demand Demand schedules & curves What causes changes in demand? The function of prices Normal, Inferior, and Complementary goods Activities 1. Widgets and Whajamas - to illustrate the Production Possibilities Curve or Frontier 2. Risk and Reward Game - a classroom simulation in stock & bond portfolio allocation Homework (refer to class emails for due dates)
Lecture slides
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