Teacher: R Crawford
Lesson: APE 9.1 Review of Classical Theory
Textbook: pp. 312 -316
Material: 9.1 Lecture Notes
Article on John Maynard Keynes
short video introduction to John Maynard Keynes
Objectives: Review Classical Theory of Macro Equilibrium
Introduce Keynesianism and Monetarism
Concepts: AD/SRAS/LRAS model
aggregate demand
wealth effect
foreign purchases effect
interest rate effect
determinants of aggregate demand
aggregate supply
determinants of aggregate supply
long run aggregate supply
fiscal policy
monetary policy
Activities:
  1. Students will be quizzed on one of four micro market models
  2. Challenge students to graph S/D model and add aggregates
  3. Lecture
    1. Use chalkboard to change S/D to AD/AS model
    2. discuss changes from P to PL and from Q to GDP/EMP/NY
    3. use question #1 from Unit 8 test to discuss basic M1, M2, and M3
    4. show disequilibriums and cycles and see if students can give both Fiscal and Monetary solutions
Assessment Activity: Free response graphing quiz
Class discussion and participation