Business Economics. Business Economics Course Description.
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. . . 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.
Can economics solve these dilemmas?
Groups answer questions, plan for sale.
Groups prepare snacks, set up booths,
and sell snacks.
★ 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?
What could celebrities do to keep the paparazzi at bay?
★ Objective: Determine the best use of local vacant lot and opportunity costs of decision
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.
Focus: exchange rates, incentives
Driving Question: Given $4000, where would you go on a week-long vacation to get the most for your money?
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
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
★ Eat or drink
★ Record degree of satisfaction
★ Research the law of diminishing returns
★Write a team report
★Give a short presentation applying to business
★ 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