One Red Paper Clip

What would life be like without a standard currency? Would the barter system actually work in our society? Check out the story of Kyle McDonald, a man with a red paper clip and a dream.

http://www.msnbc.msn.com/id/12353171/ns/technology_and_science-tech_and_gadgets//

The story does not end there though... check out the blog below to read what else Kyle was able to get with his bartering abilities. Be prepared to discuss how Kyle was able to get his house.

http://oneredpaperclip.blogspot.com/

Should we worry about the National Debt?

Many argue that the National Debt is growing too large that the United States will eventually be crushed under the weight of its own spending. Others feel that the debt is an acceptable and even necessary evil.

Below are two websites that might provide insight into the two sides of the issue.

http://welkerswikinomics.com/blog/2008/06/13/the-us-national-debt-level-is-the-sky-really-falling/


http://www.globalissues.org/article/29/causes-of-the-debt-crisis



Be sure to check out both sights before responding to the following questions:

1. Exactly who or what is responsible for the growing U.S. National Debt?
2. Is the debt a problem that we need to address immediately or is the debt a natural occurrence in our economic system.

Will The Invisible Hand Cut Carbon Emissions?

http://www.economist.com/world/britain/displayStory.cfm?story_id=14649058

"Can liberalised energy markets cut carbon emissions? Britain is starting to doubt it." Many are beginning to question whether an unregulated energy market can lead to a reduction in carbon emissions. Will market forces lead to an eco-friendly future? Think about the following questions as you respond to the article above.

1. Should the government play a role in determining how energy/resources are used? What should that role be?
2. How can the ideas expressed in this article be related to topics such as why many people don't recycle?
3. Is capitalism bad for the environment?

Living Wage Calculator

http://www.livingwage.geog.psu.edu/

"In many American communities, families working in low-wage jobs make insufficient income to live locally given the local cost of living. Recently, in a number of high-cost communities, community organizers and citizens have successfully argued that the prevailing wage offered by the public sector and key businesses should reflect a wage rate required to meet minimum standards of living. Therefore we have developed a living wage calculator to estimate the cost of living in your community or region. The calculator lists typical expenses, the living wage and typical wages for the selected location."

Market For Loanable Funds

The following links provide good information about the Market For Loanable Funds.

http://apcentral.collegeboard.com/apc/members/courses/teachers_corner/49477.html

http://welkerswikinomics.com/blog/category/loanable-funds-market/

Check out this SlideShare Presentation:

Loanable funds

Auto Bailout Debate

Well it is that time again; time for the Federal Government to fly in on the proverbial sled and deliver toys to the good children of America. And by toys, I mean millions of dollars. And by good children, I mean bankrupt corporations.

The question is do we really need to go down this road again? Is it the job of the Federal Government to bail out the Big Three Automakers? In answering this question, consider the following points:

1. What are the opportunity costs of NOT bailing out the automakers?
2. What message are we sending to other businesses by going through with the bailout?
3. Does this represent a fundamental change in our economic system?
4. Why should or shouldn't the government bail out the automakers?

Some links to help in your investigation:

http://www.nytimes.com/2008/11/20/business/20auto.html?_r=1&ref=automobiles

http://www.foxnews.com/story/0,2933,455286,00.html

http://www.forbes.com/opinions/2008/11/19/gm-economy-autos-oped-cx_bm_1119mcgarvie.html

http://www.reuters.com/article/GCA-autos/idUSTRE4AJ7YZ20081120

http://www.google.com/hostednews/ap/article/ALeqM5g9_YzIcykt_QqWPWLuCciw2ugCQQD94IHS9G0

GDP Review

What is GDP? How is GDP calculated?

GDP= ______+ ______ + _______ + ( ___ - ____ )

What does GDP not measure? (What is excluded and not taken into account)

Why is GDP not a good indicator of the standard of living in country?

What is GNP, and how is it different than GDP?

What is the difference between GDP and Real GDP?

What is the PI? What is measured by PI?

What is CPI? How/Why do we measure it?

What is the difference between planned and unplanned investment?