Business Economics

Business Economics

Course 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.

Can economics solve these dilemmas?

Driving Question throughout the semester…

How do I make the most of the those

transient customers?

Can poor, little Justin Bieber ever stop the

paparazzi from stalking him?

How can I help my community?

What makes a good cookie good?

Would you do business in China?

Where would an ECONOMIST go on vacation?

Were the good ol’ days really so

good?

Is more of a good thing always a good thing?

When possibilities are endless, how do

you decide what business to start?

How do I make the most of the those

transient customers?

Business Economics

Course Guide OverviewSnack AttackDriving 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

Business Economics

Course Guide Overview: Planning Guide Sheet

★ 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?

Debriefing Questions

Can poor, little Justin Bieber ever stop the

paparazzi from stalking him?

Business Economics

Course Guide: Project 1 Deliverables

1. Group Contract2. Project Plan3. Infomercial developed by team of students4. Persuasive letter to celebrity by teams

Driving Question: What could celebrities do to keep the paparazzi at bay?

How can I help my community?

Business Economics

Project Make the Most of It

★ Objective: Determine the best use of local vacant lot and opportunity costs of decision

Business Economics

Course 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.

What makes a good cookie good?

Business Economics

Course 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.

OPTIONS

Decision Matrix Cookie1

Cookie2

Cookie3

Criteria Weight Rating Score Rating Score Rating Score

Total

Decision Model Cookie 1 Cookie 2 Cookie 3

Criteria Weight Rating Score Rating Score Rating Score

# of chips 2 4 8 2 4 4 8

texture 3 2 6 3 9 2 6

freshness 5 1 5 4 20 3 15

Total 19 33 29

Rating Description

0 Unacceptable

1 Poor

2 OK

3 Good

4 Excellent

Rating Description

-1 Negative Impact

0 No Impact

1 Positive Impact

Rating Description

0 No

1 Yes

would you do business in China?

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

Business Economics

Project 3: China Dynasty Deliverables

Where would an ECONOMIST go on vacation?

Business Economics

Course 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?

Business Economics

Course Guide: Project 4 OverviewResearch vacation destinations Determine most economical localeDevelop informative team poster with

vacation destination choice incentives involved exchange rate expenses incurred during a week-long vacation

Business Economics

Course Guide: Project 4 OverviewSample

Glog

Sample Animoto Video

Were the good ol’ days really so

good?

Business Economics

Course 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: o Research economic indicators and

complete charto Create economic timelineo Create short skit to teach 8th graders

about economics during time periodo Write a one-page reflection about

importance of learning about economy in the past

Business Economics

Course Guide: Project 6 in Action

Each team will be responsible for researching and presenting about a specific period of time:

Team 1: 1911-1927Team 2: 1928-1944Team 3: 1945-1961Team 4: 1961-1977Team 5: 1978-1994Team 6: 1995-2011

Is more of a good thing always a good thing?

Business Economics

Course Guide: Project 5 OverviewStudent 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

When possibilities are endless, how do

you decide what business to start?

Business Economics

Course 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

Questions?