AP Economics Summer Assignment
 
Purpose: To understand how foundational economic concepts are applied to your daily life.

1. Download a free digital copy of the course textbook, Principles of Economics 2e:
https://openstax.org/details/books/principles-economics-2e
(Click on Download a PDF)
2. Read the following sections in your textbook:
Chapter 1 - Section 1.1 and 1.4 ONLY
Chapter 2 - Section 2.1 ONLY. 
3. Create a three minute video based upon your choice of two economic concepts from the reading:
Chapter 1: scarcity, division of labor, traditional economy, command economy, market economy, and globalization
Chapter 2: budget constraints, opportunity cost, marginal analysis, and utility
4. Clearly define the two economic concepts using your own words. The focus of your video is how the economic concepts apply to your daily life using at least four examples (two examples for each concept). Each example needs to be thoroughly explained. For example, if you show that buying an item in a store relates to capitalism, that would not enough. You would need to go more in-depth and include how businesses decided what to produce and who owns the resources (as mentioned in the reading). 
Tips:
●	Find a creative way to present the information (e.g, skit, music video, or newscast). It should not just be you talking to the camera..
●	While this is an individual project, you may have others appear in your video. 
●	The video needs to be edited and look professional. You can choose any video editing software program such as Movie Maker or iMovie. There are several mobile video editing apps for iOS and Android.

Example video: http://tinyurl.com/apecon-summer-assignment 

5. The video is due on Friday, August 31. Submission instructions will be provided on the first day of class.

Grading Rubric:
______  /20		The two economic concepts are clearly defined using your own words
______  /40		Four thorough examples on how the concepts are applied to daily life
______	/ 25		Creative way to present the information
______  /10		Well edited and is at least three minutes in length (no longer than four minutes)
______   /5		Your name is included in the video and credits at the end show MLA citation of sources

______  / 100   	Total

Please e-mail me at wbetthauser@bishopoconnell.org if you have questions about the assignment. If you need help with editing the video, you must contact me well BEFORE the due date.