Small group discussion 3 5 people
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Small Group Discussion (3-5 people). Discuss: Any previous experience with Economics Discuss and then turn in if appropriate: Any specific questions you would like addressed in the course Write down for yourself on the back of your syllabus, and then discuss with group:

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Small Group Discussion (3-5 people)

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Small group discussion 3 5 people

Small Group Discussion (3-5 people)

  • Discuss:

    • Any previous experience with Economics

  • Discuss and then turn in if appropriate:

    • Any specific questions you would like addressed in the course

  • Write down for yourself on the back of your syllabus, and then discuss with group:

    • Your Top 3 personal financial goals

      • Anything you would like to accomplish using monetary resources at some point in your life


And now

And now,

  • a POP QUIZ!

  • The group that gets the most answers right wins bragging rights for the entire semester

  • AND, a free reading packet

  • http://www.luxmac.com/?p=MoneyTriviaQuizAnswers


How many millionaires were there in 2007 in the u s

How many millionaires were there in 2007 in the U.S.?

  • A. 850,000

  • B. 1.9 million

  • C. 5.1 million

  • D. 6.7 million

  • E. 9.3 million


Small group discussion 3 5 people

  • According to CNN Money and Reuters, the answer is D (6.7)

  • Both estimates DO NOT include the value of a primary residence

  • http://www.reuters.com/article/domesticNews/idVSTRE52A71B20090311

  • http://www.luxist.com/2009/03/11/number-of-u-s-millionaires-falls-steeply/


Http money cnn com galleries 2007 pf 0704 gallery millionaire counties index html

http://money.cnn.com/galleries/2007/pf/0704/gallery.Millionaire_Counties/index.html


How many billionaires in u s dollars were there in the world in as of 2 13 2009

How many billionaires (in U.S. dollars) were there in the world in as of 2/13/2009?

  • A. 27

  • B. 793

  • C. 1125

  • D. 1782

  • E.  2899


Small group discussion 3 5 people

  • The correct answer is B

  • There are 793 billionaires in the world, according to Forbes. After losing the top spot to Warren Buffet last year, Bill Gates regain the number one spot in 2009.

  • http://www.forbes.com/2009/03/11/worlds-richest-people-billionaires-2009-billionaires_land.html

  • Richest people:

    • Bill Gates – 40 billion (down $18 billion)

    • Warren Buffett – 37 billion (down $25 billion)

    • Carlos Slim Helu – 35 billion (down $25 billion)


What is the highest denomination u s banknote ever issued

What is the highest denomination U.S. banknote ever issued?

  • A. $100

  • B. $500

  • C. $1,000

  • D. $100,000

  • E. $1 million


Small group discussion 3 5 people

  • The correct answer is D

  • Although the highest denomination in circulation today is $100, it has only been about 30 years since much higher denominations were available. High denomination notes of $500, $1,000, $5,000 and $10,000 were last printed in 1945, but continued to be issued for circulation until 1969. However, the highest denomination notes ever printed by the Bureau of Engraving and Printing were the $100,000 Gold Certificates issued in 1934. These notes were used for transactions between Federal Reserve banks and were not circulated among the general public.


What is the lowest denomination u s paper money ever issued

What is the lowest denomination U.S. paper money ever issued?

  • A. 3 cents

  • B. 5 cents

  • C. 25 cents

  • D. 50 cents

  • E. $1


Small group discussion 3 5 people

  • The correct answer is A

  • During the Civil War period, people hoarded coins because of their intrinsic value. This created a drastic shortage of coins for circulation. To deal with this problem, the Bureau of Engraving and Printing produced "fractional currency" starting in 1862. The lowest denomination in this series was three cents. Fractional notes were discontinued in 1876.


How many women have ever appeared on u s money

How many women have ever appeared on U.S. money?

  • A. none

  • B. one

  • C. three

  • D. four

  • E. twelve


Small group discussion 3 5 people

  • The correct answer is D

  • Martha Washington appeared on the face of the $1 silver certificate issues of 1886 and 1891, and on the back of the $1 silver certificate of 1896.

  • Sacagawea appeared on the $1 coin

  • Susan B. Anthony replaced Sacagawea on the $1 coin

  • Pocahontas is depicted on the 1869-1878 $10 note.


How many new u s banknotes are printed every day

How many new U.S. banknotes are printed every day?

  • A. 2.1 million

  • B. 6.4 million

  • C.13 million

  • D. 26 million

  • E. 81 million


Small group discussion 3 5 people

  • The correct answer is D

  • During fiscal year 2009, the Bureau of Engraving and Printing (BEP) printed 26 million currency notes each day with a face value of about $907million.

  • About 95% of the currency notes printed each year are used to replace notes that are already in circulation.

  • http://www.treas.gov/education/faq/currency/production.shtml


Who makes the final decision on who will appear on u s bills

Who makes the final decision on who will appear on U.S. bills?

  • A. The President of the United States

  • B. The Secretary of State

  • C. Congress

  • D. The Secretary of the Treasury

  • E. The First Lady


Small group discussion 3 5 people

  • The correct answer is D

  • The Secretary of the Treasury is responsible for making the final decision on who will appear on U.S. bills. Since U.S. law prohibits portraits of living persons from appearing on Government Securities, the Secretary has to ensure that the portrait is of a deceased person whose place in American history is well known.

http://www.treas.gov/education/faq/currency/portraits.shtml#q1


If you had 1 million in 1 bills how much would it weigh

If you had $1 million in $1 bills, how much would it weigh?

  • A. 225 lbs

  • B. 1,435 lbs

  • C. 2,203 lbs

  • D. 11,210 lbs

  • E. 22,650 lbs


Small group discussion 3 5 people

  • The correct answer is C

  • 454 $1 bills weigh one pound. A million one dollar bills would weigh 2,203 pounds.

http://www.moneyfactory.gov/document.cfm/18/106


Small group discussion 3 5 people

If you had $10 billion in one dollar bills and spent one every second of every day, how long would it take you to go broke?

  • A. 112 years

  • B. 229 years

  • C. 317 years

  • D. 378 years

  • E. 401 years


Small group discussion 3 5 people

  • The correct answer is C.

http://www.moneyfactory.gov/document.cfm/18/106


Small group discussion 3 5 people

  • Whew!

  • The quiz is over. How did you do?


Class project 1 retirement plan option

Class Project 1 – Retirement Plan Option

  • Follow the retirement plan process detailed in the reading packet

  • 4-7 page write-up explaining your findings and answering some questions


Class project 1 power pay option

Class Project 1 – Power Pay Option

  • Follow the Power Pay process of debt elimination as outlined in the reading packet

    • The person on whom you are completing the assignment must have at least 2 debts

    • The process must be completed on all debts

  • 4-7 page write-up explaining your findings and answering some questions


Class project 2 spending plan option

Class Project 2 – Spending Plan Option

  • Create a personalized spending plan (i.e. budget)

  • Track your income and expenses for a 2 month period

    • Account for every penny that comes in and every penny that goes out

    • If you are in a relationship with shared income and expenses, you must track this together

  • Formulate goals and a plan

    • It’s more than just knowing what is happening with your money, it’s creating a plan for what to do with your money

  • 4-7 page write-up explaining your findings and answering some questions


Class project 2 stock market option

Class Project 2 – Stock Market Option

  • Invest a fictitious $10,000 in the stock market

  • Track your progress over an 8 week period, with weekly updates

  • Buy and sell as you wish

  • Calculate the percentage increase/decrease weekly and overall

  • 4-7 page write-up explaining your findings and answering some questions

  • Some websites to get started:

    • Moneycentral.msn.com

    • Yahoofinance.com

    • nyse.com


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