Tuesday, January 11, 2011

Day 82

Today's review went over the supply and demand of money involving interest rates, and how the Fed manipulates the interest rates. We also reviewed one of the principle causes of the Great Depression, i.e. the significant increase in the money supply beginning in 1914 with the bubble bursting in '29.

We learned about the entrepreneurial mindset of discovering one's comparative advantage as well as products/services that consumers want. Students were challenged to consider their passions and comparative advantages and which ones might lead to a product others would be willing to trade for.

After the break we watched a short controversial clip that claims that "Copying is not theft". The class was fairly split on their opinions of the clip after some somewhat heated debate.