際際滷

際際滷Share a Scribd company logo

Economic Project

Download as PPTX, PDF
S
scamello

This 3 sentence summary provides the high level information from the document: The document is a 95 line poem by Stephanie Camello that was created for an economics class, which defines and explains key economic terms and theories such as opportunity cost, GDP, unemployment, Keynesian and Austrian economic theories, and factors of production. The poem uses rhyme and examples to make complex economic concepts more accessible and understandable for the reader.

1 of 15
Downloaded 15 times
By: Stephanie Camello Professor Carter, Econ. 1, Sect. 2244 Due: June 1st, 2010
The World of Economics, A Poem Economics is more than just dollars It deals with businessmen, families, and even scholars But what I never knew were the technical terms So change the slide to see what Ive learned.
Economics is the study of how Limited resources try to satisfy what we want right now. The factors of production Serve many functions. Physical capital provides the tools To allow workers to build homes and schools. Human capital is the knowledge that people can get from a place like college.
Entrepreneurs take the risks To start businesses and hire people to work shifts. Land is the space you might need, It includes animals, minerals, even trees. Labor is last and it includes The workers and effort to get you through.
There are many aspects of economic theory, So many it can make you weary. But there is always one thing everyone can relate to, Opportunity cost- what you give up and what you do.
Opportunity cost is when you choose To do one thing, and with another thing, lose. You can choose to hang out with one person or another Like your sister instead of your brother. Or if you choose to go the movies, It may be groovy But when you miss out on doing your project, When you get your grade, youll feel like a reject. Another example can be when You have to study and not hang out with a friend. The opportunity cost is having to study The opportunity lost is hanging out with a buddy. An opportunity cost, is an opportunity lost! Doing one thing means missing out on something else
GDP= Gross Domestic Product Now another thing to know about economics Is a little thing called gross domestic product. It measures all things that in one year were made But some things we dont count, like things we may trade.
GDP counts everything produced Like cars, clothes, even apple juice. If a computer was made right here in the States It counts in our GDP and everythings great. But if a car is made off in Italy It only counts in their GDP. Some other things GDP does not count Include stocks, welfare, even an inheritance account. So now that we know about GDP Lets talk about the guys who had theories about the economy. $$$ Inheritance $$$
The two main men who had economic theories Were like rivals regarding their philosophies. One was Keynes whom many believed, Which made the other, Hayek, sort of steamed. John Maynard Keynes Friedrich von Hayek
The British man Keynes had a theory that said The government should step in before the economy is dead. He also helped trade to flow freely, Saving the economy from becoming mealy. On the other side was Austrian man Hayek Who though his opposition was a little biased. Hayeks theory strongly believed That the economy should be free. He though the economy would cure itself And it should be alone, without the governments help. Keynes theory was popular from the 1930s-70s And Hayek then was not taken seriously. But recently, the tide has turned And now Hayeks theory is the one we know and learn. Free economyorgovernment help??
A final topic about economic theory Is one that can be kind of dreary Its the types of unemployment, A topic that is of less enjoyment.
There are many kinds of unemployment. Unemployment has happened in every place you ever went. One specific kind is called frictional which occurs When jobless people are currently looking for work. Another type is called structural And many times it is not optional Like if new technology or a machine takes your job Husking the layer off corn on the cob. Or if your job is outsourced to some guy Whos all the way in Mumbai.
Another kind is seasonal, which Means youre employed only for a season like Christmas. A final type is known as cyclical which occurs When people spend less and the economy is in a general downturn. Now that I know more about economic theory I no longer feel so weary.
Economics is exactly what we need To keep a country strong and free Without this knowledge you cant understand The simple law of supply and demand. Economics is the heart Of everything in a country, so do your part And understand That economics makes a country grand. If you get it, then youll know its true That economics affects everything single thing YOU DO!
Creative Project This 95 line poem has been a Stephanie Camello Production A student production of El Camino College Brought to you by Powerpoint

More Related Content

Economic Project

  • 1. By: Stephanie Camello Professor Carter, Econ. 1, Sect. 2244 Due: June 1st, 2010
  • 2. The World of Economics, A Poem Economics is more than just dollars It deals with businessmen, families, and even scholars But what I never knew were the technical terms So change the slide to see what Ive learned.
  • 3. Economics is the study of how Limited resources try to satisfy what we want right now. The factors of production Serve many functions. Physical capital provides the tools To allow workers to build homes and schools. Human capital is the knowledge that people can get from a place like college.
  • 4. Entrepreneurs take the risks To start businesses and hire people to work shifts. Land is the space you might need, It includes animals, minerals, even trees. Labor is last and it includes The workers and effort to get you through.
  • 5. There are many aspects of economic theory, So many it can make you weary. But there is always one thing everyone can relate to, Opportunity cost- what you give up and what you do.
  • 6. Opportunity cost is when you choose To do one thing, and with another thing, lose. You can choose to hang out with one person or another Like your sister instead of your brother. Or if you choose to go the movies, It may be groovy But when you miss out on doing your project, When you get your grade, youll feel like a reject. Another example can be when You have to study and not hang out with a friend. The opportunity cost is having to study The opportunity lost is hanging out with a buddy. An opportunity cost, is an opportunity lost! Doing one thing means missing out on something else
  • 7. GDP= Gross Domestic Product Now another thing to know about economics Is a little thing called gross domestic product. It measures all things that in one year were made But some things we dont count, like things we may trade.
  • 8. GDP counts everything produced Like cars, clothes, even apple juice. If a computer was made right here in the States It counts in our GDP and everythings great. But if a car is made off in Italy It only counts in their GDP. Some other things GDP does not count Include stocks, welfare, even an inheritance account. So now that we know about GDP Lets talk about the guys who had theories about the economy. $$$ Inheritance $$$
  • 9. The two main men who had economic theories Were like rivals regarding their philosophies. One was Keynes whom many believed, Which made the other, Hayek, sort of steamed. John Maynard Keynes Friedrich von Hayek
  • 10. The British man Keynes had a theory that said The government should step in before the economy is dead. He also helped trade to flow freely, Saving the economy from becoming mealy. On the other side was Austrian man Hayek Who though his opposition was a little biased. Hayeks theory strongly believed That the economy should be free. He though the economy would cure itself And it should be alone, without the governments help. Keynes theory was popular from the 1930s-70s And Hayek then was not taken seriously. But recently, the tide has turned And now Hayeks theory is the one we know and learn. Free economyorgovernment help??
  • 11. A final topic about economic theory Is one that can be kind of dreary Its the types of unemployment, A topic that is of less enjoyment.
  • 12. There are many kinds of unemployment. Unemployment has happened in every place you ever went. One specific kind is called frictional which occurs When jobless people are currently looking for work. Another type is called structural And many times it is not optional Like if new technology or a machine takes your job Husking the layer off corn on the cob. Or if your job is outsourced to some guy Whos all the way in Mumbai.
  • 13. Another kind is seasonal, which Means youre employed only for a season like Christmas. A final type is known as cyclical which occurs When people spend less and the economy is in a general downturn. Now that I know more about economic theory I no longer feel so weary.
  • 14. Economics is exactly what we need To keep a country strong and free Without this knowledge you cant understand The simple law of supply and demand. Economics is the heart Of everything in a country, so do your part And understand That economics makes a country grand. If you get it, then youll know its true That economics affects everything single thing YOU DO!
  • 15. Creative Project This 95 line poem has been a Stephanie Camello Production A student production of El Camino College Brought to you by Powerpoint