flvs economics 6 01 assignment

FLVS Economics

Assignments, Essays, and Projects by Morgan Steele

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Module 6 Project

06.05 Questions

1. Each solution meets the criteria because they are all viable options to reducing overpopulation of animals because it either limits the birth rate of the animals or helps house the extra.

2. The best solution to the problem is to have your pets spayed or neutered. It keeps shelters from over-crowding and having to euthenize pets and also keeps strays off the roads.

13 years ago Short URL Comments

Module 6: Project Milestone 2

Module 6: Project Milestone 1

Pet Overpopulation Flow Chart

Module 5 Project

Lesson 05.08 Questions

Short Response 

1. Which country do you think would have the best chance in meeting their economic goals from expanding trade with the United States? Incorporate a minimum of three economic indicators from 05.03 in your response.

Australia would have the best chance of meeting their economic goals from trading with the US. They would maximize resources and be more efficient, they would continue economic growth by increasing overall output of economic products, and they would have security from being able to have resources and materials during a crisis. 

2. Based on your information about comparative and absolute advantage, explain which country the United States would benefit from trading with the most and why.

The US benefits from trading with Australia because we already have a free trade agreement with them and we get things like meat, coal and gold from them. 

3. Considering the economic systems of your chosen countries,  which country do you think would be the most open to trade with the United States and why?

Australia would be the most open to trade because their economy is much more stable than Greece. 

4. Considering your research and data on barriers to trade and free trade zones, which country would be easier for the United States to trade?  Explain including a minimum of two pieces of evidence.

It would be easier to trade with Australia because we already have a free trade agreement and also because they have one of the most stable economies right now. 

5. How does inflation impact the society of your chosen countries?

Inflation impacts Australia and Greece by not allowing America to buy as much because the spending power of a dollar is decreased. 

Extended Responses 

6.  What other issues should the United States consider before entering trade negotiations?  Examples may be human rights concerns, war, geography, other political issues, malnutrition or disease, transportation, or climate.  In a minimum of one paragraph, discuss why these issues should be considered before beginning trade negotiations.

Before the US enters a trade agreement, they should consider the location and, therefore, the cost of transportation to and from the country they’re trading with. Secondly, they should consider political status of the country to make sure that they are conducting legal practices with other countries. Also they should consider the economic standing of the country to determine if the country is stable enough to trade with.

7.   To finalize, which country do you think would be a better trade partner for the United States at this time? Identify at minimum of three pieces of evidence that supports your decision.  Explain.

The country that I think would be a better trade partner with the US at this time would be Australia because they have a broader selection of produced goods, their economy is more stable, and therefore, more likely to hold their end of the agreement and there is already a free trade agreement established. 

Lesson 05.06

1. What is the current rate of inflation for the United States and your chosen countries?

United States – 3.4%

Greece – 2.9%

Australia – 3.5%

———————————————

Headline: Russian challenger urges joint currency with EU

Summary: Right now in Russia there is a very wealthy prime minister candidate trying to promote a global currency which uses only Euros.

Vocabulary: 

Sovereign Democracy – a society’s political life where the political powers, their authorities and decisions are decided and controlled by a diverse Russian nation for the purpose of reaching material welfare, freedom and fairness by all citizens, social groups and nationalities, by the people that formed it.

Common Currency – used to say that something is used by a lot of people or accepted by everyone.

European Union (EU) – an economic and political union of 27 member states which are located primarily in Europe.

Application: If Mikhail Prokhorov is elected and passes a nationwide currency for Russia, investments through Russia would change currency as well, changing their value.

Citation: “ Russian challenger urges joint currency with EU.” Associated Press (December 29, 2011).   http://www.google.com/hostednews/ap/article/ALeqM5gCbQAtLGR2HTYO9kQ4Ky3sSvJGaQ?docId=c043ea03992947e098d9166e39e33d70

Module 5 Project (Milestone 2)

Lesson 05.04

1. What industries are the most prominent in this country?

United States – Agriculture

Greece – Shipping

Australia – Dairy

2. Based on your research, through which products or industries might the country enjoy comparative advantage?

United States – Civilian aircraft

Greece – Sugar, coffee, and shrimp

Australia – Coal, gold, and meat

3. Does the United States already have a trade relationship with the country?

Greece – No

Australia – Yes (AUSFTA): lamb meat, sugar

Lesson 05.05

1. Compare and contrast  the economic  freedoms of your chosen countries.

Greece has the lowest economic freedom on the globe and Australia is very limited as well due to each country having budget deficits of billions of dollars.

2. Describe what trade barriers exist within your chosen countries.

The trade barriers that exist in Australia are technical oversees trade barriers and in Greece they are non-tariff trade barriers.

3. Is the country a member of any free trade zones?

Australia – Yes (AUSFTA)

Module 5 Project (Milestone 1)

Lesson 05.02

Name, location, geography 

1. Topographical Map

United States

2. Geographic features that impact production and trade.

United States 

• Mountain ranges (Appalachian, Rocky)
• Rivers (Mississippi, St. Johns)
• Oceans (Aegean, Ionian)
• Mountains (Voras, Zarkos)
• Deserts (Gibson, Great Victoria)
• Oceans (Indian, South Pacific)
• Great Barrier Reef

Economic System 

United States –  Mixed Economy

Greece –  Market Economy

Australia –  Market Economy

United States –  John Maynard Keynes (Capitalism protected by the government)

Greece –  Adam Smith (Anti-government)

Australia –  Adam Smith (Anti-government)

United States –  $14 trillion dollar deficit, recession, no money

Greece –  debt crisis, inflation of currency, job unavailability

Australia –  stable and competitive, consecutive growth since 1992

Lesson 05.03

Economic Indicators 

1. Current rate of unemployment

United States –  9.1%

Greece –  15%

Australia –  5.3%

2. Current rate of GDP per capita

United States –  $47,184

Greece –  $26,934

Australia –  $42,131

3. Current EFW Index

United States –  7.6

Greece –  6.5

Australia –  8.0

4. Current balance of trade

United States –  -44808.00

Greece –  -2561.10

Australia –  1826.00

Government Set Gas Prices

As gas prices continue to rise, many Americans find themselves thinking of ways to make driving more affordable. One way, in particular, is by having the government set a permanent gallon price for gas. Some agree with this proposition and some oppose. One thing we can all agree on, however, is the need for oil prices to decrease.

A standard gallon price for gas would make the economy more unstable. It would cause the push for gas-efficient vehicles to decrease, and it could potentially cause gas shortages among oil companies.

If the government were to set gas prices at a permanent and fixed price the economic problems that would cause would be catastrophic. One of these problems that would arrise would be an imbalance would be formed within the economy between the peoples demand for gas and the available supplied by the government. In order to have a permanent gas price the government would have to set the price at a low enough price so that the majority of Americans could afford the gas. In doing this the price of oil from the oil companies would still continue to rise while the price at the pump would remain constant and over time the price of oil would surpass the price at the pump and a deficit would then be created causing other prices and taxes to rise to compensate.

Over the last ten or so years there has been a strong push from the American people, congress, and even companies for the auto industry to make models with a higher fuel efficiency. If the government were to set a fixed price for gas this would make the American people less focused on buying fuel efficient vehicles because gas wouldn’t be rising.

Lastly, a fixed price for gas set by the Government would not be a good idea because it would ultimately lead to shortages in gas for people to buy. Once the price for oil exceeds the price the government is charging for gas the government would have to reduce the amount of oil being purchased and would therefore create a shortage throughout the nation.

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High Economics

Number of credits, estimated completion time.

1 Semesters

Pre Requisites

Algebra 1 recommended

Description

This course satisfies the Florida Economics graduation requirement, but does NOT satisfy the Personal Financial Literacy graduation requirement. 

Economic decisions affect us every day of our lives. Understanding economics means thinking about how scarcity, or limited resources, requires us to make choices and evaluate our options. In this course, you will recognize examples of economics in your daily life. You will understand how the economic choices of larger groups, like businesses and governments, affect you and others. As you progress through the course, you will recognize that the costs and benefits of choices connect individuals and groups around the world. Access the site links below to view the Florida Department of Education description and standards:

Regular course description: http://www.cpalms.org/Courses/PublicPreviewCourse575.aspx

Honors course description: http://www.cpalms.org/Courses/PublicPreviewCourse577.aspx

Topics and Concepts

Module 1  

• How economics influences our daily lives
• Three basic economic questions
• Wants versus needs
• Scarcity and opportunity cost
• Law of Diminishing Marginal Utility
• Cost-benefit analysis
• Demand and supply
• Equilibrium price
• Functions and characteristics of the money supply
• Money versus currency
• Gross versus net income
• Direct versus indirect taxes
• Progressivity of taxes
• Tax returns
• Savings and checking accounts
• Savings and investment types
• Relationship between inflation, nominal interest rate, and real interest rate
• Government's role in the investment market
• Risk and rate of return on investments

Module 2  

• Circular-flow diagram
• Factors of production
• Entrepreneurship
• Contributions of entrepreneurs to the developing United States
• Different forms of business organization
• Characteristics of different market structures
• Market competition
• Productivity and marginal cost analysis
• Factors that impact the earnings of workers
• Production possibilities curves
• Capital investments
• Positive and negative externalities
• Impact of externalities on consumers and society
• Wage and price controls
• Natural monopolies and the purposes of government regulation

Module 3  

• Phases of the business cycle
• Unemployment and inflation
• Gross domestic product (GDP)
• Tools and goals of fiscal policy
• Debt, deficit, and surplus
• National budget
• Organization and functions of the Federal Reserve System
• Relationships between consumers, banks, and the Federal Reserve System
• Tools and goals of monetary policy
• Theories of prominent economists
• Traditional, market, command, and mixed economies
• Role of society and culture in economic organization
• Broad economic goals
• Indicators of national economic health
• Absolute and comparative advantage
• Free trade and barriers to trade
• Protectionism strategies
• Consumer Price Index as a measure of inflation
• Effects of inflation on different levels of society
• International exchange rates

Grading Policy

Besides engaging students in challenging curriculum, the course guides students to reflect on their learning and evaluate their progress through a variety of assessments. Assessments can be in the form of practice lessons, multiple choice questions, writing assignments, projects, research papers, oral assessments, and discussions. This course will use the state-approved grading scale. Each course contains a mandatory final exam or culminating project that will be weighted at 20% of the student’s overall grade.***

***Proctored exams can be requested by FLVS at any time and for any reason in an effort to ensure academic integrity. When taking the exam to assess a student’s integrity, the exam must be passed with at least a 59.5% in order to earn credit for the course.  

Ready to start?

Courses subject to availability.

Pursuant to s. 1002.20, F.S.; A public school student whose parent makes written request to the school principal shall be exempted from the teaching of reproductive health or any disease, including HIV/AIDS, in accordance with the provisions of s. 1003.42(3). Learn more about the process and which courses contain subject matter where an exemption request can be made.

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