Economics
BY RICK CABALLERO
In order to better prepare our students for
the future, technology must be implemented in our classrooms. We must produce
computer literate students who will be ready for the challenges of college
life.
Understanding Economics
Economics is the study of how people seek to satisfy their
needs and wants by making choices. Because people act individually and
as groups, such as, businesses, organizations and governments, economists study
each of these groups. In the world of economics, data is often collected
to be displayed in a graph so it can easily and clearly present a point
of view. Graphs may also illustrate patterns or trends over
time and show relationship between two or more variables.
Graphing the Main Idea
Students are required to graph several charts using the program
Excel. The graphs include: production possibilities, demand and supply, population,
and various others. A graph, like a picture, can present information in a
more concise way than words. Students who are visual learners enjoy seeing
the same information presented in different ways. After the information has
been interpreted, students write descriptions of the economic activity. They
analyze the data and look for trends. Students give an explanation for those
trends
and even make predictions concerning various topics.
Linking Tables and Graphs(Example)
Many people borrow money in order to purchase a car. The
terms of the loan might be anywhere from 2 to 6 years. The table below
shows the monthly payments on a loan of $10,000 at 9% :
Length of loan(yrs.)
|
2
|
3
|
4
|
5
|
6
|
|
Monthly payments($)
|
$456.85
|
$318.00
|
$248.85
|
$207.58
|
$180.26
|
|
1. What can you tell about the relationship between the length of the
loan and the monthly payments?
2. Graph the data.
3. Is it easier to see the relationship on a graph or in a table? Explain
your answers