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Business Economics

Business Economics. Business Economics Course Description.

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Business Economics

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  1. Business Economics

  2. Business EconomicsCourse Description . . . a project-based business course in which students expand their understanding that businesses are influenced by external factors that are often beyond their control. Consumer spending, government policies, economic conditions, legal issues, and global competition are addressed through practical, current applications to everyday societal and business life.

  3. Driving Question throughout the semester… Can economics solve these dilemmas?

  4. How do I make the most of the those transient customers?

  5. Can poor, little Justin Bieber ever stop the paparazzi from stalking him?

  6. How can I help my community?

  7. What makes a good cookie good?

  8. Would you do business in China?

  9. Where would an ECONOMIST go on vacation?

  10. Were the good ol’ days really so good?

  11. Is more of a good thing always a good thing?

  12. When possibilities are endless, how do you decide what business to start?

  13. How do I make the most of the those transient customers?

  14. Business EconomicsCourse Guide Overview Snack Attack • Driving Question: What is the economic potential in impulse buying? • Day 1: Groups answer questions, plan for sale. • Day 2: Groups prepare snacks, set up booths, and sell snacks. • Day 3: Debriefing

  15. Business EconomicsCourse Guide Overview: Planning Guide Sheet Debriefing Questions ★ Identify economic activities involved. ★ Identify production activities involved. ★ Determine how long snack preparation took. Why? ★ Identify the distribution activities. ★ Explain where snack stand was set up. Why? ★ How much did you charge for the snack? Why? ★ Identify the consumption activities. ★ How many snacks did your team sell? ★ What was the team’s profit? ★ Why were there differences in sales among groups? ★ How did you decide who would do what? ★ What did the group decide to do with the money? ★ How could the group have produced or sold more snacks?

  16. Can poor, little Justin Bieber ever stop the paparazzi from stalking him?

  17. Business EconomicsCourse Guide: Project 1 Deliverables Driving Question: What could celebrities do to keep the paparazzi at bay? • Group Contract • Project Plan • Infomercial developed by team of students • Persuasive letter to celebrity by teams

  18. How can I help my community?

  19. Business EconomicsProject Make the Most of It ★ Objective: Determine the best use of local vacant lot and opportunity costs of decision

  20. Business EconomicsCourse Guide: Project Make the Most of It Requirements • Create group contract and project plan. • Investigate zoning and assess surrounding area. • Compose interview questions—select the best. • Conduct interviews of at least two people in the area. • Compile listing of interviewees. • Brainstorm for specific uses. • Select the three best uses, and determine their opportunity costs. • Write individual diary of team activities. • Develop and use decision matrix. • Make oral presentation to Middletown Chamber of Commerce. • Develop team’s two-page written proposal for teacher and Chamber.

  21. What makes a good cookie good?

  22. Business EconomicsCourse Guide: Project 2 Briefing—Decision Matrix Decision Matrix Defined: A chart used to help identify the best option for a situation to aid in systematically narrowing selection of options when more than one factor impacts outcome.

  23. would you do business in China?

  24. Business EconomicsProject 3: China Dynasty Deliverables Student activities: • Individual written report on production of goods in U.S. and China • Team research/questions about where to produce stuffed animal • Team creates a decision matrix • Team oral presentation

  25. Where would an ECONOMIST go on vacation?

  26. Business EconomicsCourse Guide: Project 4 Overview Focus: exchange rates, incentives Driving Question: Given $4000, where would you go on a week-long vacation to get the most for your money?

  27. Business EconomicsCourse Guide: Project 4 Overview • Research vacation destinations • Determine most economical locale • Develop informative team poster with • vacation destination choice • incentives involved • exchange rate • expenses incurred during a week-long vacation

  28. Sample Glog Business EconomicsCourse Guide: Project 4 Overview

  29. Sample Animoto Video

  30. Were the good ol’ days really so good?

  31. Business EconomicsCourse Guide: Project 6 Overview Focus: economic indicators, affects of economic decisions on individuals, changes in the economy over time,monetary policy, fiscal policy, & effects of gov’t expenditures and tax policies on business Student activities: • Research economic indicators and complete chart • Create economic timeline • Create short skit to teach 8th graders about economics during time period • Write a one-page reflection about importance of learning about economy in the past

  32. Business EconomicsCourse Guide: Project 6 in Action Each team will be responsible for researching and presenting about a specific period of time: Team 1: 1911-1927 Team 2: 1928-1944 Team 3: 1945-1961 Team 4: 1961-1977 Team 5: 1978-1994 Team 6: 1995-2011

  33. Is more of a good thing always a good thing?

  34. Business EconomicsCourse Guide: Project 5 Overview Student activities: ★ Eat or drink ★ Record degree of satisfaction ★ Research the law of diminishing returns ★Write a team report ★Give a short presentation applying to business

  35. When possibilities are endless, how do you decide what business to start?

  36. Business EconomicsCourse Guide: Project 7 Overview ★ Group contract and project plan development ★ Decision matrix development to evaluate non-profit ideas ★ Application of matrix ★ Research to respond to Venture Feasibility Test ★ Oral presentation ★ Debriefing and VOTE

  37. Questions?

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