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Business Economics. Business Economics Course Description.

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business economics course description
Business EconomicsCourse 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.

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Driving Question throughout the semester…

Can economics solve these dilemmas?

business economics course guide overview
Business EconomicsCourse Guide Overview

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

business economics course guide overview planning guide sheet
Business EconomicsCourse Guide Overview: Planning Guide Sheet

Debriefing Questions

★ 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?

business economics course guide project 1 deliverables
Business EconomicsCourse Guide: Project 1 Deliverables

Driving Question:

What could celebrities do to keep the paparazzi at bay?

  • Group Contract
  • Project Plan
  • Infomercial developed by team of students
  • Persuasive letter to celebrity by teams
business economics project make the most of it
Business EconomicsProject 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
Business EconomicsCourse 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.
business economics course guide project 2 briefing decision matrix
Business EconomicsCourse 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.

business economics project 3 china dynasty deliverables
Business EconomicsProject 3: China Dynasty Deliverables

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 course guide project 4 overview
Business EconomicsCourse 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 overview1
Business EconomicsCourse Guide: Project 4 Overview
  • 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
business economics course guide project 6 overview
Business EconomicsCourse 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:

  • Research economic indicators and complete chart
  • Create economic timeline
  • Create short skit to teach 8th graders about economics during time period
  • Write a one-page reflection about importance of learning about economy in the past
business economics course guide project 6 in action
Business EconomicsCourse Guide: Project 6 in Action

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

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Business EconomicsCourse Guide: Project 5 Overview

Student 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

business economics course guide project 7 overview
Business EconomicsCourse 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

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