Eisenhower High School Economics
Archive for May, 2012
Wednesday 5/30/2012
May 30th
- Finish explanation of Chapter 13 concepts such as inflation.
- It’s time for Europe to choose inflation over austerity article
- Explanation of requirements and how to use Prezi for Chapter 13 Measuring the Economy Project
- Project due Friday at midnight. Can be completed with a partner.
- See post below for links to graphs and infographics so you don’t have to type them in yourself!
Prezi Project links
May 30th
GDP graphics
- Real GDP http://research.stlouisfed.org/fred2/
- Real GDP Per Capita (1940-present) http://www.measuringworth.com/graphs/
- Real GDP (1940-present) http://www.measuringworth.com/graphs/
Unemployment graphics
- Civilian Unemployment Rate http://research.stlouisfed.org/fred2/ (in popular series tab)
- http://visualizingeconomics.com/2010/07/19/animation-of-unemployment-from-2007-2009-slate-com/
- Payroll employment http://research.stlouisfed.org/fred2/
- http://www.nytimes.com/interactive/2009/11/06/business/economy/unemployment-lines.html
Inflation graphics
- CPI http://research.stlouisfed.org/fred2/
- CPI Inflation Rate (1970-present) http://www.measuringworth.com/graphs/
- Inflation’s Little Parts http://www.nytimes.com/interactive/2008/05/03/business/20080403_SPENDING_GRAPHIC.html
- http://www.nytimes.com/2011/04/24/weekinreview/24food.html?_r=1
Miscellaneous economic graphs
- http://www.oecdbetterlifeindex.org/ (create your better life index)
- http://www.gapminder.org/world (create a gapminder chart of your choosing and click share graph. Place this link into your prezi.
- http://www.russell.com/Helping-Advisors/Markets/EconomicIndicatorsDashboard.aspx
- Core Inflation
- Employment growth
- Consumer Spending
- Economic Expansion
- University of Michigan: Consumer Sentiment http://research.stlouisfed.org/fred2/ (in popular series tab)
- S&P 500 (1970-present) http://www.measuringworth.com/graphs/
Tuesday 5/29/2012
May 29th
- Handed out Chapter 13 text
- Showed GDP and GDP per capita on a world map using WorldTouch app on iPad.
- Went through the text (as much as possible with the time left during the hour), identifying what to highlight from each section.
- Watched Hans Rosling’s 200 Countries, 200 years clip from The Joy of Stats video
Thursday 5/24/2012
May 24th
- Snyder, legislative leadersagree to state income tax break article
- Answer questions from Chapter 12 text questions assignment & internet tax assignment
- Collect Chapter 12 text questions assignment
- Collect internet tax assignment
- CHAPTER 12 TEST
- Board of Zoning Appeals meeting is tonight, 7pm at Sterling Heights City Hall
- Have a nice Memorial Weekend!
Wednesday 5/23/2012
May 23rd
- Time in class to work on computers to complete internet tax assignment, due Thursday
- Links to sites for internet assignment:
- FEDERAL TAXES (Use text to help you determine mandatory or discretionary on second chart)
- STATE TAXES
- LOCAL TAXES
- TAX FREEDOM DAY INFORMATION (select the correct link within each area after reading what the question is asking you to report)
- Passed out Chapter 12 text questions
- Complete for homework and turn in on Thursday
- CHAPTER 12 TEST THURSDAY
Tuesday 5/22/2012
May 22nd
- Passed out 1040 form and completed based off of my numbers.
- Went through 1040 and Schedule A, Itemized Deductions as well as MI-1040
- This was turned in, but students who were absent will be excused.
- Chapter 12 Test on Thursday
- Passed out Chapter 12 text questions to hours 4-6
- Due Thursday
Monday 5/21/2012
May 21st
- Michigan fruit industry reels from cold related crop loss article
- Passed out Chapter 12 text (Taxes & Taxation)
- Discussed numerous items as an overview of taxes, focused on page 241 of the text.
- Individual Income Tax
- Federal is progressive
- State is proportional for Michigan (varies state to state, some don’t even collect this)
- A few cities even collect an income tax
- Tax base is income
- Discussed how to legally hide income from taxation
- Retirement accounts/HSA/Deductions
- 1040 form and withholding as an estimate
- Payroll Taxes
- FICA
- You pay this, but so does your employer (something you never see on your paycheck)
- Property Taxes
- Funds local government
- Tax base is value of property
- Was lowered in Michigan in the 1990′s with Proposal A
- Emergency Managers being appointed due to rising costs and falling revenues as the tax base falls.
- Sales Taxes
- A regressive tax.
- Tax base is value of the item
- Most states have a sales tax, ours is 6%, was raised from 4% with Proposal A
- Corporate Income Taxes
- A tax on company profits
- States offer abatements to draw a company like A123 Systems into the state to create jobs and try to grow an industry.
- Excise & Luxury Taxes
- Sales, Gas, & Cigarette taxes by State
- Includes sin taxes.
- What happens when the gas tax, which funds road repair, doesn’t generate enough money because cars get better fuel mileage or go electric?
- User Fees & Tolls
- Such as turnpike cost when you go to Cedar Point
- Estate & Inheritance Taxes
- This is why people with a lot of money set up trust funds and wills, etc. to avoid government taxes of their wealth.
- Remaining time in class was given for some hours to begin reading the chapter.
- Chapter 12 Test will be on Thursday (around 25 questions)
Friday 5/18/2012
May 18th
- Finish going through Facts/Statistics/Definitions about Unions Google Presentation and worksheet
- Turn in completed worksheet after taking Chapter 10 Test
- Chapter 10 Test
Thursday 5/17/2012
May 17th
- CHAPTER 10 TEST FRIDAY
- Get into groups by rows and complete a Guess the Wage worksheet for your team. Extra credit will be given to the team with the most points.
- Give correct answers for Guess the Wage game and collect TEAM SHEETS ONLY.
- People absent on Thursday will be excused from this.
- Passed out Facts/Statistics/Definitions about Unions assignment
- Went through a Google Presentation that shared the information that needs to be filled in on the assignment.
- Each hour got about half done with this assignment, it will be completed and turned in during class Friday prior to the Chapter 10 test.
