1 / 16

Economics 101:

Economics 101:. What is it all about?. Making a Living. Job Market Supply & demand for workers Gross vs. Net Pay Lifetime Earnings Dropout - $18,900/year High School - $25,000/year ($1.2 Million) Bachelor’s - $45,000/year ($2.1 Million) Master’s – $2.5 Million

anoki
Download Presentation

Economics 101:

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Economics 101: What is it all about?

  2. Making a Living • Job Market • Supply & demand for workers • Gross vs. Net Pay • Lifetime Earnings • Dropout - $18,900/year • High School - $25,000/year ($1.2 Million) • Bachelor’s - $45,000/year ($2.1 Million) • Master’s – $2.5 Million • Professional - $99,000/year ($4.4 Million)

  3. Going on Vacation • Typical 7-Day Walt Disney World vacation (4 ppl): • Airfare + Hotel (Disney) = $1050/person • Park Hopper Pass + Water Park Option = $1286 (Total) • Food = $150/day • Total = $6300

  4. Health Care • Employee or government provided? • i.e. Cost of having a baby (Avg. in So Cal): • Natural delivery w/ hospital stay (3 Days): $30,000 • Prenatal appointments: $5,000 • Pediatrician visit (1st Year): $1,000 • TOTAL = $36,000

  5. Your “Dream” Home • 4 Bedrooms • 2.5 Bathrooms • 2 Floors • 2575 Square Ft. • $229,000 (in Tennessee)

  6. Your “Dream” Home (Cont’d) • 2 Bedrooms • 1 Bathroom • 900 Square Ft. • $400,000 (in California)

  7. The Cost of College • Cost of Attending a U.C: • Tuition: $8,374 • Room and Board: $13,848 (Double room w/ 2 meals per day) • Books: $1,240 • Personal: $1,266 (Clothes, entertainment, etc.) • Transportation: $566 (No car – visiting home during breaks) • Total: $25,308

  8. Monthly Car Payment • The economy affects interest rates • Interest rates affect your overall monthly car payment • Can determine what you can afford

  9. Immigration • California Proposition 187 (1994): • Illegal? = NO PUBLIC SERVICES! • Farming and labor industry • Tax burden? • $2.2 Trillion paid by taxpayers • $22,449 per person (per year) • American household’s lifetime tax burden: $1.1 Million

  10. Lottery • Desperation • Government Revenue (“Tax on Stupidity”) • Did you know? • A lottery ticket is only worth 1/3 of its purchase price. • After federal taxes, you only win 1/3 of the total prize money. • Odds of winning: If you buy one ticket per week, you would have to play for 269,000 years (quarter-of-a-million years) to win the jackpot once.

  11. Ticket Scalping • Pure supply & demand • UFC Fight - $5000 for a $250 ticket (tickets.com) • Laker season tickets (courtside) - $39,000 (stubhub.com) • Oscar de la Hoya vs. Floyd Mayweather - $49,000 for $500 (eBay)

  12. School Supplies & Materials • Lack of government funding • Administrative choices • Fish tank vs. books

  13. The Cost of Living • The expense of living the California Dream • Comparable living • Priorities of people… What’s most important?

  14. Wal-Mart • Jobs • 1.5 million employees • Sales Tax • How often do you go? • 138 million customers per week

  15. The Basics of Economics • Choices • Decision making • Efficient use of resources • Making the world a better place • Improving the quality of life

  16. The Never-Ending Struggle • Unlimited Wants vs. Limited Resources • Greed and human nature • Decision Making • Budgeting, choices, benefit vs. cost • Opportunity Cost • The trade-offs

More Related