Sunday, May 10, 2015

First Assignment of the 2015-16 School Year

So this is a big week as my students are in the their final preparations for their AP Micro and Macroeconomics' exams.  But as we get in our final review, I just saw this article in the WashPost looking at the economics of the water shortage in CA.  It argues that if the Colorado river dried up, it would eliminate 16 million jobs.   The above (if you want to tie it to government) video has one amazing fact stating that 90% of war torn areas in the world have water shortages (think Iraq, Syria, Lybia, etc.)

So my thought is that this article could have a recurring theme in my class.  For example, if the supply of water goes down, what impact does that have on price and quantity.   If it cuts 16 million jobs, what change occurs in wages.  What would that do to inflation and would that mean the central bank would pump in or take out money? How would that impact foreign exchange?   If some group comes up with a cheap way to desalinate water, what would their monopoly look like?  And on an on. I may change my find five times before September 8th (yes, that late) when we start the new school year, but at least I know I am looking for something to which I can continually refer all year and I may have found my answer.  

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