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Documented Problem Solving: Calculating Bank Reserves
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Documented Problem Solving: Calculating Bank Reserves
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The lecture focused on the banking system and included a discussion about total reserves, required reserves and excess reserves. Students practiced calculating each category in pairs and then compared their solutions with those of the instructor.

Subject:
Economics
Social Science
Material Type:
Activity/Lab
Provider:
Science Education Resource Center (SERC) at Carleton College
Provider Set:
Pedagogy in Action
Author:
Linda Wilson
Date Added:
11/06/2014
MoreLess
Documented Problem Solving: Calculating Gross Domestic Product
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Documented Problem Solving: Calculating Gross Domestic Product
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Gross domestic product (GDP) was introduced in class as a way to determine the value of a country's output. Consumption, investment, government spending, and net exports were discussed as the components of GDP. Items that are excluded from GDP were also discussed.

Subject:
Economics
Social Science
Material Type:
Activity/Lab
Provider:
Science Education Resource Center (SERC) at Carleton College
Provider Set:
Pedagogy in Action
Author:
Linda Wilson
Date Added:
11/06/2014
MoreLess
Documented Problem Solving: Calculating the Unemployment Rate
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Documented Problem Solving: Calculating the Unemployment Rate
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Following a lecture about unemployment, students are asked to calculate the unemployment rate. They will need to apply their knowledge about unemployment and the labor force in order to make the calculation.

Subject:
Economics
Social Science
Material Type:
Activity/Lab
Provider:
Science Education Resource Center (SERC) at Carleton College
Provider Set:
Pedagogy in Action
Author:
Linda Wilson
Date Added:
11/06/2014
MoreLess
Documented Problem Solving: Determining the Tax Structure
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Documented Problem Solving: Determining the Tax Structure
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Determining a Tax Structure - The different tax structures are reinforced through the calculation of the tax rate at two different income levels.

Subject:
Economics
Social Science
Material Type:
Activity/Lab
Provider:
Science Education Resource Center (SERC) at Carleton College
Provider Set:
Pedagogy in Action
Author:
Linda Wilson
Date Added:
11/06/2014
MoreLess
Documented Problem Solving: Gross Domestic Product Versus Gross National Product
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CC BY-NC-SA
Documented Problem Solving: Gross Domestic Product Versus Gross National Product
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The topic of gross domestic product (GDP) was introduced in class. The components of GDP - consumption, investment, government spending, and net exports - were discussed. The items that are excluded from GDP and the difference between GDP and gross national product (GNP) were also explained.

Subject:
Economics
Social Science
Material Type:
Activity/Lab
Provider:
Science Education Resource Center (SERC) at Carleton College
Provider Set:
Pedagogy in Action
Author:
Linda Wilson
Date Added:
11/06/2014
MoreLess
Documented Problem Solving: Identifying a Change in Demand and Its Impact
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Documented Problem Solving: Identifying a Change in Demand and Its Impact
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Students in an economics course are asked to write a doumented problem solution to explain how a change in a determinant of demand will impact the equilibrium price.

Subject:
Economics
Social Science
Material Type:
Activity/Lab
Provider:
Science Education Resource Center (SERC) at Carleton College
Provider Set:
Pedagogy in Action
Author:
Linda Wilson
Date Added:
11/06/2014
MoreLess
Documented Problem Solving: International Trade and Comparative Advantage
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CC BY-NC-SA
Documented Problem Solving: International Trade and Comparative Advantage
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The concept of comparative advantage is used to make a decision about specialization and trade. The microeconomic impact is also included.

Subject:
Economics
Social Science
Material Type:
Activity/Lab
Provider:
Science Education Resource Center (SERC) at Carleton College
Provider Set:
Pedagogy in Action
Author:
Linda Wilson
Date Added:
11/06/2014
MoreLess
Documented Problem Solving: Price Elasticity of Demand
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CC BY-NC-SA
Documented Problem Solving: Price Elasticity of Demand
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The concept of price elasticity of demand was introduced in class. Elastic and inelastic goods were discussed. The impact that a change in price will have on total revenue was also presented.

Subject:
Economics
Social Science
Material Type:
Activity/Lab
Provider:
Science Education Resource Center (SERC) at Carleton College
Provider Set:
Pedagogy in Action
Author:
Linda Wilson
Date Added:
11/06/2014
MoreLess
Documented Problem Solving: The Impact of a Minimum Wage
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Documented Problem Solving: The Impact of a Minimum Wage
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During the lecture, labor demand and labor supply were discussed and were used to determine the equilibrium wage rate. Then, the concept of a minimum wage rate was introduced and the impact of the wage rate on the labor market was demonstrated graphically.

Subject:
Economics
Social Science
Material Type:
Activity/Lab
Provider:
Science Education Resource Center (SERC) at Carleton College
Provider Set:
Pedagogy in Action
Author:
Linda Wilson
Date Added:
11/06/2014
MoreLess
Documented Problem Solving: The Long Run Competitive Market
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Documented Problem Solving: The Long Run Competitive Market
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During the lecture, the competitive market was introduced. A graph was used to demonstrate a competitive market in which there was an economic profit. The profit motive causes an increase in supply. As additional producers enter the market, the price of the product or service decreases. In the end, price will decrease until the long-run equilibrium situation is reached which means that the economic profit decreases to zero.

Subject:
Economics
Social Science
Material Type:
Activity/Lab
Provider:
Science Education Resource Center (SERC) at Carleton College
Provider Set:
Pedagogy in Action
Author:
Linda Wilson
Date Added:
11/06/2014
MoreLess