This Roadmap is a remix of Michigan Open Book, MC3 and GIANTS put together all in one place. In this lesson students connect geography to economics as they explore how natural resources are used to produce goods and services in Michigan. They use specific examples such as the use of fertile soil to grow major crops. Students then use a Michigan product to dissect the resources necessary for production. In exploring Michigan products, the concept of entrepreneurship is introduced.
This Roadmap is a remix of Michigan Open Book, MC3 and GIANTS all in one place. In this lesson students connect geography to economics as they explore how natural resources are used to produce goods and services in Michigan. They use specific examples such as the use of fertile soil to grow major crops. Students then use a Michigan product to dissect the resources necessary for production. In exploring Michigan products, the concept of entrepreneurship is introduced.
The Roadmap is a remix of the Michigan Open Book, MC3 and GIANTS all in one place. This lesson begins with a scenario showing how scarcity results from the tension between limited resources and unlimited wants. Students then participate in a simulation involving economic decisions, choice, and opportunity costs. During the simulation, incentives such as sales are introduced. Students then apply these concepts to economic choices made in the state of Michigan by looking at how businesses and industries are affected by scarcity, choice and incentives.
This Roadmap is a remix of the Michigan Open Book, MC3 and GIANTS all in one place. In this lesson students continue to explore the concepts of scarcity, choice, and productive resources as they examine different types of economic activities in Michigan. They begin by identifying goods and services produced in their own local communities. Next, they explore a wide variety of Michigan products by playing a simple game and then categorizing the Michigan products according to economic activities such as manufacturing, agriculture, and mining. Next they take a brief look at service industries and tourism as well as research and development. Throughout the lesson, they use their knowledge of Michigan’s physical and human geography to answer the question: “Why is this economic activity located here?”
This lesson begins with students connecting back to second grade and brainstorming reasons that people specialize (e.g., they have a special skill or talent, availability of productive resources, etc.). They then examine how specialization results in trade with others as they complete a graphic organizer depicting the relationship among specialization, trade, and interdependence. They expand their thinking as they consider how states and countries also specialize and are interdependent through an exploration of Michigan imports and exports.
This lesson involves students using what they have learned about Michigan’s economic activities to explore Michigan’s economic future. Students are introduced to the importance of business development and entrepreneurship for Michigan’s economic future through a short, simplified newspaper article on a small company producing wind turbines. Next, they explore why wind turbine production and wind farms may become a vital part of Michigan’s economic future.
This Roadmap is a full year plan that covers the geography, economics, government and history of Michigan.
Recent developments in contract theory. Includes advanced models of moral hazard, adverse selection, mechanism design and incomplete contracts with applications to theory of the firm, organizational design, and financial structure.
Energy policy is typically evolutionary as opposed to revolutionary. We can look to historical policies to understand how we've inherited the policies governing our energy use today. But looking backward only tells us part of the story. In the face of climate change, we need to look ahead and instead envision a more revolutionary change to our energy systems and the policies that govern them. This class takes you on that journey to energy policies past, present, and future. We look at the political realities of addressing climate change at various scales of governance and work together to craft our own ideal scenarios of what a responsible energy future will be.
This course is an advanced course in macroeconomics that seeks to bring students to the research frontier. The course is divided into two sections. The first half is taught by Prof. Ivn Werning and covers topics such as how to formulate and solve optimal problems. Students will study fiscal and monetary policy, among other issues. The second half, taught by Prof. George-Marios Angeletos, covers recent work on multiple equilibria, global games, and informational fictions.
Topics change from year to year. Most recent topics include: optimal fiscal and monetary policy; optimal capital taxation; time inconsistency and incentive incompatibility of optimal policies; redistribution and political economics; heterogeneous agents and incomplete markets; Real Business Cycle models and new-keynesian models; endogenous growth; aggregate fluctuations and propagation mechanisms; recursive methods and robust control in macro.
This class examines how and why twentieth-century Americans came to define the ŰĎgood lifeŰ through consumption, leisure, and material abundance. We will explore how such things as department stores, nationally advertised brand-name goods, mass-produced cars, and suburbs transformed the American economy, society, and politics. The course is organized both thematically and chronologically. Each period deals with a new development in the history of consumer culture. Throughout we explore both celebrations and critiques of mass consumption and abundance.
The course is intended for people who would like a deeper understanding of the American housing finance system. The focus will be on providing necessary background knowledge rather than on evaluating specific policy proposals. Near the end of the course, participants will be encouraged to bring up policy issues and to discuss them in light of the information presented.
" This course focuses on alternative ways in which the issues of growth, restructuring, innovation, knowledge, learning, and accounting and measurements can be examined, covering both industrialized and emerging countries. We give special emphasis to recent transformations in regional economies throughout the world and to the implications these changes have for the theories and research methods used in spatial economic analyses. Readings will relate mainly to the United States, but we cover pertinent material on foreign countries in lectures."
Develops facility with concepts, language, and analytical tools of economics. Covers microeconomics, macroeconomics, and international trade and payments. Emphasizes integration of theory, data, and judgment in the analysis of corporate decisions and public policy, and in the assessment of changing US and international business environments. Restricted to Sloan Fellows. The fact of scarcity forces individuals, firms, and societies to choose among alternative uses -- or allocations -- of its limited resources. Accordingly, the first part of this summer course seeks to understand how economists model the choice process of individual consumers and firms, and how markets work to coordinate these choices. It also examines how well markets perform this function using the economist's criterion of market efficiency. Overall, this course focuses on microeconomics, with some topics from macroeconomics and international trade. It emphasizes the integration of theory, data, and judgment in the analysis of corporate decisions and public policy, and in the assessment of changing U.S. and international business environments.
Applied Macro- and International Economics uses case studies to investigate the macroeconomic environment in which firms operate. The first half of the course develops the basic tools of macroeconomic management: monetary, fiscal, and exchange rate policy. The class discusses recent emerging market and financial crises by examining their causes and considering how best to address them and prevent them from recurring in the future. The second half evaluates different strategies of economic development. Topics covered in the second half of this course include growth, the role of debt and foreign aid, and the reliance on natural resources.
Surveys research which incorporates psychological evidence into economics. Prospect theory. Biases in probabilistic judgment. Self-control and mental accounting with implications for consumption and savings. Fairness, altruism, and public goods contributions. Financial market anomalies and theories. Impact of markets, learning, and incentives. Some evidence on memory, attention, categorization, and the thinking process.
This is a look at how coins and bills are produced along with some practice with identifying and calculating using money.
Take students through process of making crayons and some additional activities. BrainVentures are engaging & interactive, digital, enrichment activities meant to supplement your standard aligned curriculum. They can be used as independent or collaborative practice as well as remotely or on campus.
There are several hundred thousand Brownfield sites across the country. The large number of sites, combined with how a majority of these properties are located in urban and historically underserved communities, dictate that redevelopment of these sites stands to be a common theme in urban planning for the foreseeable future. Students form a grounded understanding of the Brownfield lifecycle: how and why they were created, their potential role in community revitalization, and the general processes governing their redevelopment. Using case studies and guest speakers from the public, private and non-profit sectors, students develop and hone skills to effectively address the problems posed by these inactive sites.