1. Business Economics

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

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?

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?

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

14. 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. ★ 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

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

17. 1.Group Contract 2.Project Plan 3.Infomercial developed by team of students 4.Persuasive letter to celebrity by teams Driving Question: What could celebrities do to keep the paparazzi at bay?

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

20.  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.

22. 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. OPTIONS Decision Matrix Cookie 1 Cookie 2 Cookie 3 CriteriaWeightRatingScoreRatingScoreRatingScore Total

24. Decision Model Cookie 1Cookie 2 Cookie 3 Criteria WeightRatingScoreRatingScore Rating Score # of chips2482448 texture3263926 freshness515420315 Total 193329 RatingDescription 0 Unacceptable 1Poor 2OK 3Good 4Excellent RatingDescription Negative Impact 0No Impact 1Positive Impact RatingDescription 0No 1Yes

25. would you do business in China?

26. 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

27. Where would an ECONOMIST go on vacation?

28.  Focus: exchange rates, incentives  Driving Question: Given $4000, where would you go on a week-long vacation to get the most for your money?

29. 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

30. Sample Glog

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

33. 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 chart o Create economic timeline o Create short skit to teach 8 th graders about economics during time period o Write a one-page reflection about importance of learning about economy in the past

34. 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

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

36. Business Economics Course Guide: Project 5 Overview Student activities: ★ E at or drink ★ R ecord degree of satisfaction ★ Research the law of diminishing returns ★ Write a team report ★ Give a short presentation applying to business

38. ★ 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

39. Questions?