Economics: Creation of Modern Banking Activity

Directions:

1. Read the story "The Recollections of Pine Gulch." Click here for the story: It takes about 20-30 minutes.

2. Then complete the multiple choice quiz online (Found here) and click submit, and I will receive your answers.

Fed Essay Information - What Are The Causes of Inequality?

Research: The links below are good places to get you started with your research and thinking about your thesis statement. You need good research and facts to back up your arguments. Before that, however, look over the tips below for a good essay:

• Thesis clearly presented
• Paragraphs well organized
• Effective transitions between paragraphs
• Argument follows a logical progression
• Strong evidence used to support thesis
• Sentence structure
• Punctuation
• Spelling
• Page numbers
• Bibliography and parenthetical references or footnotes follow a consistent style (MLA Format - use Easybib.com for citation)
• Cover includes required information
• First written page with title and no name
• Copy can be easily read—type is clear and dark

Sources: First check out the Fed Essay Website Bibliography Here. 

Here are some other sources about income inequality, as a serious problem and the causes:

• Income Inequality in 16 Charts.
• Globalization is increasing inequality. 
• The real cause of Inequality in the US. 
• Inequality: Growing Apart.
• Breaking Down the Causes of Inequality in the US. 
• How income taxes increase inequality. 
• Why College is Necessary but gets you nowhere. 
• Globalization and inequality.
• How welfare increases inequality. 
• Obamacare gives incentives to work less, not more
• The welfare cliff: How work is punished. 
• Economic mobility hasn't changed in 50 years.
• Economic mobility in the US: Not good.
• Education and inequality. 
• Taxes on the rich have decreased and caused more inequality.
• Do Fed policies (QE) cause inequality?
• The Fed and inequality.. Another here. 
• The Odds are stacked against the poor. Or why the poor stay poor. 
• How poor neighborhoods lead to generational inequality. 
•  How "rent-seeking" causes inequality. 
• (New) How less Economic Freedom means more inequality. 
• (New) Early Education inequality causes economic inequality. 

Articles arguing income inequality is actually overstated: 

• Negative Effects of the Minimum Wage. 
• Median Income is falling only because households work less. 
• Myths of Inequality. 
• Income inequality has not actually increased over the last 50 years.

Possible Fed Essay Topics: "The Future of the Fed"

Before choosing a topic, be sure to read the topic primer here.

1. Replace the Federal Reserve with the Gold Standard.
2. Stay the Course. ex. - No economic depressions since the Great Depression. We need a "lender of last resort" in a financial crisis.
3. Alternatives to the Fed: Use money besides the US Dollar: (ex. Bitcoin)

Fed Essay Sources

Click on the following articles for good info regarding your topic.
A good place to start: Resources on the Fed Essay page. Click Here.

• History of the Federal Reserve. 
• The Fed underestimates the financial crisis of 2008.
•  Did the Fed cause the housing bubble? 
•  A new bubble in stocks due to the Fed?
• Maybe the Fed isn't so powerful after all?
•  Bernanke Defends Fed Response to financial crisis. 
• The Fed Saved a 2nd Great Depression. 

End/Reform the Fed and the Gold Standard articles:

•  End the Fed? 
• Gold vs. The Fed: The record is clear. Gold wins
• Should we return to the Gold Standard?
• End the Fed? Now what? 
• Alternatives to the Fed.
• The Fed deserves blame for the financial crisis
• Fed assets reach $4 Trillion. 
• Will Bitcoin replace the Federal Reserve? 
• Limited Purpose Banking.
• GOOD! Ideas for reforming the Fed.
• Fed Policy hasn't worked to solve the financial crisis. 

Videos: 

• What is a gold standard? 
• Should we end the Fed? How can it be done, explained. 
• "60 Minutes" Interview w/ Fed Chair Ben Bernanke part 1
• "60 Minutes" Interview w/ Fed Chair Ben Bernanke part 2

FED ESSAY CONTEST IS HERE! TOPIC: THE FEDERAL RESERVE'S NEXT 100 YEARS.

Please click here for more info on the topic, and to read articles to help you write your essay. Due March 14th.

Also see previous winners of a $100 dollar bill from Armstrong.

Economics of Everyday Life Project Examples

The AC/DC Economics Review App is Here!

This app is highly recommended and the real deal, a great way to review for your tests and the AP Exam. Links to 100's of Mr. Clifford's Videos. Also, some outstanding review questions, written by yours truly. Apps work on you tablet, iPhone, or Android phone. If you search for AP Economics, you can locate the app by finding the AC/DC logo at the top left.

Macro: Find it on iTunes here.
Micro: Find it on iTunes here.
Macro: Find it on Google Play here
Micro: Find it on Google Play here.

Add caption

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Graphs 2 Know for the AP Macro Exam

Graphs 2 Know for the AP Macroeconomics Exam from MrRed

Common Mistakes on The AP Macro Exam

View more PowerPoint from MrRed

AP Macro Review Materials

Click here to go a friend's class webpage with lots of good review materials.

AP MIcro Diagnostic Test

Here is the link to a AP Micro Diagnostic Test and the answer key. Also, here is a site with LOTS of good review ideas.

eMentors Celebration at ING Minneapolis

The AP Econ Video Contest Results Are In

Watch the video for the winners, and don't miss the nice shout-out to Jackson and Kristian for their video: "Opposite of Econ"

And The Winner of 100 Trillion Dollars in the AP Econ Video Contest is...

Stay tuned... I watched some AWESOME videos this weekend as a member of the judging committee. The results are hidden in a secure location and I am sworn to secrecy, but you can check out AC/DC Econ's YouTube Channel later today to see the video announcing the winners. Click on the picture Below to see all of the entries.

"How should North Dakota Handle its Oil Boom?" - Resources for Your Essay.

The following list of articles should seen as a beginning, not an end to your research. Don't forget to check out the Essay website and list of sources there.

Every policy has trade-offs, opportunity costs. Externalities. Scarcity. A  good essay needs good research combined with sound economic logic. Why will your investment or ideas work? Prove it with research. 

In-Text Citations:
1. Read here for proper citation info.

NEW! What leads to a better economic future (economic growth)? 
1. Investment in human capital (education).
2. Infrastructure.
3. Natural Resources.
4. Investment in capital goods and technology.

Possible Topics: 

1. Invest in Education, Infrastructure... which lead to Future Economic Growth.

2. Invest Money in Better K-12 and Post Secondary vocational training, useful careers. Model on a German Education System. 

3. With so many Negative Externalities, ND should slow or stop Development - What role for Government? 

4. Invest in Alternative, Green Energy to provide a sustainable future. 

5. How to deal with labor, housing shortages?

6. Where have oil booms been successful? Been a bust? Examples for North Dakota. 

Research and History of Oil Booms:
1. The secret to Germany's low youth unemployment - their education system. Ideas for North Dakota.
2. Investing in Education - with Germany style vocational education and training.
3. Study on how investing in education leads to economic growth.
4. Study on how infrastructure spending helps economic growth.
5. History of past oil booms: How Texas invested its oil money in education, and other areas.
6. North Dakota will spend surplus on infrastructure, schools.
7. Could the boom go bust due to Government Regulation?
8. New: ND enjoys boom, but prepares for a slowdown.
9. ND Columnist's ideas for managing the boom.
10. NEW! How oil-rich Norway avoided the "oil curse"

The Boom!
1. $1.6 budget surplus.
2. Tax cuts, increased government spending in ND.
3. Importance of free markets learned in ND.
4. Economic impact of the boom. National Geographic.
5. Oil boom helps MN railroads.
6. Ideas how to manage the boom.
7. Possibilities to manage the boom.
8. Why Menards flies workers to N.D. every week.

Externalities:

1. North Dakota's struggle with population growth.
2. Video: Fight over Missouri River rights.
3. Boom leads to duck bust? Star tribune article.
4. More oil fracking regulation from Obama could lead to oil bust?
5. High cost of oil boom.
6. Growing pains of oil boom. PBS article and video.
7. Downsides of living in an oil boom.
8. A positive externality: North Dakota teen pregnancy rates lowest in the nation. The reason: OIL

The North Dakota Oil Boom...and Worries About a Bust

Second Row Slackers

AP Micro Exam Review Links

Here you can find some excellent review resources. Be sure to check out the Reffonomics review graphs at the bottom of the page.

Here is a dropbox link to some good review sheets.

ECO: Extra Credit Opportunity: Q and A with the Fed President.

Click on the picture below to register. You must register before the event and bring an ID to enter. 

60 Minutes: Unemployment

The Economic Recovery: W, V, U, or L?

Watch W, V, U or L: How Is the Economic Recovery Shaping Up, Literally? on PBS. See more from PBS NewsHour.

AP Micro: Price Ceiling and Price Floors

Econ Rap: AP Econ Academy Award Winner!

From AP Econ Classroom to the US Senate?

Here's a great story on US Senate Candidate Kurt Bills, who is a Minnesota State Represenative and still a AP Econ teacher at Rosemount High School.

Kurt Bills hopes to take his knowledge of the Phillips Curve knowledge to Washington

AP Macro Exam Questions and Unofficial Answers Here

Here are the questions, and the answers.

Graphs 2 Know

Graphs 2 Know For The AP Macro Economics Exam

View more PowerPoint from MrRed

AP EXAM REVIEW: PAST FREE RESPONSE QUESTIONS AND ANSWERS

Click HERE. Listed by topic as well.

2012 Global AP MACRO Review

Go here to get your last minute questions answered for the AP MACRO Exam

2012 Global AP MICRO Facebook Review

Go here to get your last minute questions answered for the AP MICRO Exam

2nd Place Finish in the Personal Finance Decathlon at the Fed - Great Job!!