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Topic 4 - The Individual as Producer, Consumer and Borrower Topic 5 - The Private Firm as Producer and Employer MOTIVATING STUDENTS TO LEARN ECONOMICS.

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Presentation on theme: "Topic 4 - The Individual as Producer, Consumer and Borrower Topic 5 - The Private Firm as Producer and Employer MOTIVATING STUDENTS TO LEARN ECONOMICS."— Presentation transcript:

1 Topic 4 - The Individual as Producer, Consumer and Borrower Topic 5 - The Private Firm as Producer and Employer MOTIVATING STUDENTS TO LEARN ECONOMICS IN SECONDARY SCHOOLS

2 Conducting Interviews collect real data and develop their research skills improve their communication skills be able to practise social etiquette When conducting interviews, students will:

3 Students to brainstorm possible questions to ask Students to brainstorm possible questions to ask Teacher to go through the suggested questions and help refine them Teacher to go through the suggested questions and help refine them Students to prepare a form to record the data collected Students to prepare a form to record the data collected Some suggestions on conducting interviews

4 Students to rehearse the process of interviewing in class first Students to rehearse the process of interviewing in class first Some suggestions on conducting interviews - start by introducing themselves and explaining the - start by introducing themselves and explaining the purpose of the interview purpose of the interview - inform the interviewee as to how long the - inform the interviewee as to how long the interview will take interview will take - describe briefly what type of information is required - describe briefly what type of information is required - ask the prepared questions - ask the prepared questions

5 Some rules to remember: be polite at all times, even when people refuse to be interviewed be polite at all times, even when people refuse to be interviewed be fair, e.g. do not laugh or try to influence the interviewee be fair, e.g. do not laugh or try to influence the interviewee thank the interviewee at the end of the interview thank the interviewee at the end of the interview Conducting Interviews

6 Data is required on the following: Personal information (e.g. name, age, marital status) Personal information (e.g. name, age, marital status) Type of occupation Type of occupation Reasons for choice of occupation Reasons for choice of occupation Ranking of reasons (top 3) Ranking of reasons (top 3) Income per month Income per month Brainstorming the Questions What questions can we ask?

7 Let the interviews begin!

8 What did we find out?

9 Look at the reasons. Can you categorise them?

10 Factors affecting an individuals choice of occupation Wage factors Non-wage factors

11 Who earns the most?

12 Social Worker Social Worker General Manager General Manager Manufacturing Labourer Manufacturing Labourer Computer Engineer Computer Engineer How much do they earn? How much do they earn?

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17 How much do they earn? Computer Engineer S$4,165 Social Worker S$2,200 General Manager S$11,071 Manufacturing Labourer S$1,073 What do other stats say?

18 Why are there differences in earnings? Lets share our ideas! What do people do with their earnings?

19 Consumer spending, saving and borrowing Students can carry out interviews to find out more about how people spend/use their earnings Students can carry out interviews to find out more about how people spend/use their earnings They can also collect data by recording their own and their family members spending, saving and borrowing They can also collect data by recording their own and their family members spending, saving and borrowing

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23 1. According to the traditional theory of the firm, the profit maximization point the firm, the profit maximization point is where ____________. is where ____________. A. TR = TC A. TR = TC B. AR > AC B. AR > AC C. MC > MR C. MC > MR D. MR = MC D. MR = MC

24 2. What does the shaded area represent?

25 3. Which one of the following does not affect the demand for an input? affect the demand for an input? A. The price of a substitute A. The price of a substitute B. The demand for the final product B. The demand for the final product C. The organisational structure of C. The organisational structure of the firm the firm D. The time frame D. The time frame

26 4. True or False? All inputs are variable in the short-run. All inputs are variable in the short-run. 5. A perfectly-competitive firm is a price-_____________. price-_____________.

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29 Reasons for the different sizes of firms Get students to research on the history and growth of these big firms

30 Main reasons for the different sizes of firms Different business objectives Different business objectives Size of the market Size of the market Capital Capital External growth External growth Organisation Organisation

31 Horizontal Integration Primary Secondary Tertiary Soft Drinks Manufacturer Confectionery Manufacturer

32 Vertical Integration Primary Secondary Tertiary Dairy Farming Co- operative Cheese Processing Plant Vertical Integration Forward – acquisition takes place towards the market

33 Vertical Integration Primary Secondary Tertiary Retail Stores Manufacturer Vertical Integration Backwards – acquisition takes place towards the source

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35 Get It Right!

36 Interviewing Interviewing Handling real data Handling real data Circle of Knowledge Circle of Knowledge Quiz Quiz Simple calculation Simple calculation 4 Corners 4 Corners Rotating roles Rotating roles Activities & Strategies

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