James Penstone
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Posts by James Penstone
Basic Economic Problem – Part 1
Aug 21st
We are introducing some important concepts (ideas) in Economics while following the IGCSE Economics Syllabus which has the following requirements:
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To help us understand these concepts, we can use some very useful youtube videos and some interactive quizzes and other links.
The Economic Problem (Finite Resources and Unlimited Wants)
Needs and Wants by kathycassidy
Needs and Wants by alamberth
A quiz via http://www.businessstudiesonline.co.uk on Needs or Wants – click here.
Scarcity & Choice by mjmfoodie
Notice the definition given of Economics.
The Economic Problem is also nicely summarised here:
Scarcity by stephenmonrad
The above video has already introduced some of the resources we would need to make the things we want. In Economics, resources are referred to as the Factors of Production …
2) The Factors of Production
Resources by mjmfoodie
A very quick summary quiz on factors of production via http://www.dineshbakshi.com – click here
Unemployment Part 1
Aug 18th
Syllabus requirements (first part):
Unemployment
• Full employment and underemployment
• Unemployment rate
• Costs of unemployment
• Types of unemployment
• structural
• frictional
• seasonal
• cyclical/demand-deficient
• real wage
(Macro) Episode 18: Unemployment by mjmfoodie
(Macro) Episode 19: Types of Unemployment by mjmfoodie
Unemployment – Description of different types by jcsballoon
The Multiplier, Accelerator and Crowding Out
Aug 17th
These are Higher Level Extension Topics, and are listed in the following way on the 2005 IB syllabus:
• Multiplier
[including calculation of multiplier]
• Accelerator
• “Crowding out”
Here are some video resources and questions to help you understand these concepts.
Watch the following video and then answer the questions underneath.
MPC and the Multiplier by FitzEcon
1) Define the MPC?
2) What is the formula for the multiplier?
3) Define the MPS.
4) Record, in writing / notes, the example given by the speaker.
5) Extension – Check your text book’s entry and enhance your explanation of the multiplier, with particular attention to the concept of ’rounds’
Fiscal policy and the multiplier effect by pajholden
6) Why, in the example given, does the government want to boost Aggregate Demand?
7) What would be the trade-off of this economic goal?
8] Demonstrate the above on a sketch diagram.
9) What two fiscal policy options does the government have?
10) What does the theory of the multiplier effect state? (add to previous explanation)
11) Briefly summarise the example given of how an initial increase in spending on healthcare by the government leads to further increases in AD.
12) What are the difficulties mentionned which are associated with the multiplier effect?
13) Extension – think about it – why might cutting tax be different in terms of the impact on the multiplier compared to increasing government spending by the same amount of money?
MEC and Accelerator investment theories by pajholden
NOTE You only need to focus on the Accelerator Theory (4 mins 16 secs onwards) for HL IB Economics (although it is harmless to view the MEC theory section)
14) What are the two types of investment mentionned – explain the difference.
15) What is the Accelerator Theory in basic terms.
16) Enhance your notes by checking your text book and following links:
http://tutor2u.net/economics/revision-notes/as-macro-multiplier-accelerator.html
Bottom of this page: http://econ.la.psu.edu/~dshapiro/l18nov04.htm
http://cafehayek.com/2010/02/crowding-out.html
Crowding Out
Research and summarise information to include the following features under the topic of ‘crowding out’. Two useful videos and a slideshow are given at the end.
- Definitions
- Explanation of what it is
- Examples
- Diagrams
- Outline the difference between complete, partial and no crowding out.
(Macro) Episode 27: Crowding Out & Lags by mjmfoodie
Note that from c. 2mins 50 secs moves on to time lags – it is good revision of this separate topic!
A helpful animated slideshow:
Crowding Out Effect by reffonomics.com – click here
And finally, this is pure genius! …
Crowding-Out Effect Song (Heavy Metal Edition) by medicotube
Augmented Reality … #EdTech’s Next Big Thing?
Jun 19th
Try Augmented Reality out for yourself using your computer’s web cam
– details at the end of the post.
This is just around the corner. According to the 2011 Horizon Report, this technology will take a further two to three years before widespread adoption, but it’s well worth getting interested in it right now.
Augmented Reality (A.R.) has actually been around a long time but with today’s technology it means we can hold up our smart phone / tablet / any other camera-enabled device and view the real world surrounding us through the device’s screen as taken by its camera. This real view of the world around us, however, will be enhanced (augmented) with layers of digital information added on top.
So you are on a Geography field trip, you hold your smart phone up to the high street, and you view the types of shop and office in front of you as text labels overlaid on top of the real buildings. This video demonstrates a similar scenario to the one I have just described, explaining how a Dutch A.R. web browser called Layar works.
I considered installing Layar on to my android phone but the comments are loud in saying that it isn’t really ready yet (unless you live in Times Square New York, where a lot of augmented data already exists). Most folk who have commented live somewhere which lacks useful data layers at present and so I just know that this app won’t yield anything meaningful for me at this stage, living as I do in in Thailand.
But that’s the thing – this is an emerging technology – for most of us, it’s just around the corner (give or take a year or two) – not quite there yet for the mainstream. But when it fully arrives, I think it’s going to be huge and will need to be embraced in education. The young people we help to learn will be using this technology regardless of whether we bring it into their learning opportunities. Social networking will be all over this stuff, and here’s a current example of where it’s going with this …
Viewdle – Photo and Video Face Tagging from Viewdle on Vimeo.
Within education there will be countless opportunities to enhance learning. The thing that really excites me about this is that technology is already being developed to allow users to create the layers themselves, which has huge potential for education. Imagine if it is the learners who are creating the labels on top of the high street buildings, collaborating on layers they can share and compare with one another. And this need not be limited to text. Video, photographs and other images, maps, sounds, and 3D objects can all be augmented to our reality in this way.
Daqri is a new Internet start-up (which I came across via Richard Byrne’s blog) busy developing an online app to allow users to create Augmented Reality layers associated with “daqri codes” (which are basically QR Codes that could be printed and attached to any real surface). I’ve just requested and received a beta invite to this app, and am looking forward to some time to explore its potential first-hand. This video outlines what it involves:
And to see how this could actually work, Daqri have produced this short clip. Imagine these codes printed as cards placed around a classroom for students to explore:
And once you factor in 3D layers as in the above video, it will be possible for students to create and access 3D models and images layered on top of anything, whether it is their school surrounds or an image on a display board. And the 3D imagery could be fully animated. Taking this a little further, check out the so called ‘i-magic’ books in this (now dated) documentary clip from 2007 to see just how far this could be headed …
Interested? Why not try some Augmented Reality out for yourself? While writing this post I was led via youtube to the amazing Smart Grid site. If you have a webcam and printer, I hope it works for you, because I was seriously impressed:
To find out more, a great place to start is the section on A.R. in the above-mentioned 2011 Horizon Report, which includes some subject-specific examples (the report is primarily focused on tertiary education, but this seems just as relevant to primary and secondary education too).
New Technologies and the Future of Learning
Jun 17th
This is an informative presentation by Steve Wheeler (Twitter: @timbuckteeth) published to Slideshare on 15th June 2011. Wish I’d seen the original presentation. Check the key books referenced midway through – add them to the reading list.
Original post by Steve on his Learning with ‘e’s blog is here.
Revise IGCSE Economics
Apr 25th
Image: Some rights reserved by hirejoejohnson
IGCSE and GCSE Economics Section on Dinesh Bakshi’s site.
i-Study Students’ Page – Revision Material includes Interactive Games
i-Study IGCSE Economics main page – click on the section buttons to see revision material
A revision Document can be downloaded here via the The Business –TES wiki
Very, very condensed revision notes (hosted on Bangkok Patana School’s server, but be aware that these notes follow an older syllabus, so check the headings against the current syllabus)
Esafety: Geo-referenced Photos On Your Smart Phone
Apr 5th
Posterous–Easy Blogging With Huge Potential
Mar 30th
Posterous is great. I’ve just started using it, and am very excited at the potential it holds for connecting students to online learning in a meaningful yet easy way.
Lots of folk seem to be thinking similar things about this particular blogging platform, and not just educators …
This has got to be the simplest platform I’ve seen yet to allow people easy access to blogging and social syndication. I love the interface, flexibility and syndication of Posterous for the person who is trying to get their business setup with social marketing. Most people have mastered email and therefore can post mini blog entries via Posterous. The abiity to upload pretty much anything is terrific! Definitely hit “most impressive” list for me and tested it out by teaching two team mates today and they confirmed my thoughts. I’ll be teaching this to a lot of my clients.
Source: The Social Marketing Touch
This video gives a taste of what it can do:
I’ll post in due course with some reflections on how it can take learning forwards, but for now here are some links if you want to find out more.
1) Guides to using posterous as educators:
Easy classroom blogging with Posterous
Posterousing the Learner Voice
HOW TO: Get the Most Out of Posterous
2) Favourable reviews by educators:
Posterous: Easy Group Blogging
Posterous – A blog can be for a week
Posterous – A Simple Way for Students to Blog
3) Have iPhone? Posterous iPhone App Will Make You Finally Get A Posterous
All The World’s Flights In A Day
Mar 22nd
This video (of which there are several copies on youtube) could provoke a lot of interesting questions. Where in the world receives the most air traffic? Why? How does this reflect historical developments? Does the spread of daylight hours affect flight concentrations? Which two continents / regions are the most connected by flights? Again, why? How does the perspective of a 2D map affect the apparent speed of flights in different parts of the globe? How else might this data be shown?
Thanks to my colleague Darren for passing this on.