Principles of Business & Finance

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 Ms. Blount's Email


​                                   AGENDA
                         Mon., Nov. 7, 2016


            


                  Unit 5 PowerPoint Economic Decisions & Systems
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Bell Ringer


Assignment

5.02 ECONOMIC CHOICES 

  • Essential Questions
  1.     Describe the basic economic problem.
  2.     Explain the steps in the decision-making process

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5.03 ECONOMIC SYSTEMS
  1. ​    Differentiate among the main types of economic systems.
  2.     Describe the economic system of the United States.​​


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Tues., Nov. 8


5.04 SUPPLY & DEMAND
1.   Describe supply and demand orally and with graphs.
2.   Discuss how supply and demand affect prices of products and services.
Unit 5/1 Review
              

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Wed., Nov. 9

Webquest / Business and Global Economy Activity

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Thurs., Nov. 10

Comparative Economic Systems



Bell Ringer
Students will use the links below to review for Unit 5.0.  
1.  Review the terms
2.  Self-Access (Create a sample test)
       a.  Deselect the following items
                1.  Matching
                2.  Writing

Assignment

Introduction

Project 1
Project 2
  1. ​What would life be like in the North Korean economy?
  2. How would things be different in the economy of Chad?

  • In this lesson, you will have the opportunity to compare these two economies to the U.S. economy, and you’ll practice using some tools that can help you to study any economy in the world.
  • Task
    • In this lesson you will define market economies, command economies, and developing economies. You will also compare one country with another by reference to factors associated with economic performance.

  • Process
  1. ​First we need to take a moment to look at how economists categorize economies. A market economy is characterized by private ownership of the means of production (for example, farms and factories), and supply and demand are responsible for the price and allocation decisions. The United States, Hong Kong, and Germany are considered market economies. A command economy is characterized by government (or central) control ownership of the means of production, and with a central authority setting prices of goods and services and for most allocation decisions. North Korea and Cuba are command, or more specifically communist, economies. A developing economy is one which is not yet industrialized, but is developing. Chad, Ecuador, and Bangladesh are considered developing nations.
  2. In this lesson, you will compare several aspects of the economies of the United States (representing a market economy), North Korea (representing a command economy), and Chad (representing a developing economy).  Post assignment in Canvas - Unit 5-4.  Due at the end of class.
    1. Print the Comparative Systems Worksheet.
    2. Go to the CIA World Factbook website to find the information needed to complete the chart.  s
  3. Use the information from the worksheet to consider the following seven questions. 



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          Week -  Nov. 14 - 18

Mon. 

Bell Ringer:
  • Students will watch and provide a summary of at least two videos. Using the index cards distributed, write your summaries.  One on each side of the index card.  Remember to put your name at the very top right corner of the index.  When completed pass down to the middle of the of the isle face-down.  One of the Executive Team members will collect the cards for grading.  The link to the videos are below.
    • The Basics of an Economic and Financial Concept
      • Balance Trade and Balance Payments Video / Quiz
        • ​The goal is to get a minimum score of 85
        • Raise your hand - Ms. Blount will record.
        • Hands not raised - grade posting of 0.


​


Assignment:

Capstone Project(s)
5.01 How Much Does It Cost Now lesson
Here is a link for a great resource of CPI figures from 1913-present. 

A.
Credit goes to the CMS Team: due to size of the files I will post by Objective

B.
5.02 Math - Inflation CPI worksheet.docx

​
C.
 5.04 Day 1 Lesson.docx
 5.04 Govt Econ PPt layout (link within the State Curriculum).docx


D.
Credit goes to the CMS Team




            (Supply and Demand)
                   Those-Golden-Jeans


This lesson is designed to review the three types of productive resources-natural resources, human resources, and capital resources-needed to produce goods and services. Students will use the internet to identify examples of each - first in the production of pizza, then the mining of gold during the California gold rush.

Key Concepts: Demand , Natural Resources , Shortage , Supply , Surplus

Students Will (Students should be able to respond to items below after completing activities.)
  • Identify productive resources as natural resources, human resources, and capital resources.
  • Explain the laws of supply and of demand.
  • Explain how a market clearing price is established.
  • Define surplus and shortage.

Introduction
Every day bread arrives at grocery stores, toys are sent to toy stores, and raw materials are delivered at manufacturing facilities. Yet students have little understanding of how people decide how much of a good or service should be produced and at what price. In this lesson students review the productive resources used to produce goods and services, and they learn how decisions are made in a market economy through the interactions of buyers and sellers. With an understanding of how markets work, students will be better prepared to make decisions both as consumers and producers.
 Picture
  • ​


Resources





Process
Part I: 
Many things are needed to make a good or a service. These things are called productive resources.

Productive resources include human resources, natural resources, and capital resources.

  • Define human resources as the workers.
  • Define natural resources as things that come from nature and are unchanged by human hands. Think of examples of natural resources. [Water, air, trees, minerals, animals]​​
  • Define capital resources as man-made tools and equipment used to produce a product. Think of examples of capital resources.[Factories, equipment, and tools such as hammers, saws, and computers]


Students will read the art of pizza article. Students will use MS Word to record their responses.  They will use this site to find the following:
  1. An example o.f a human resource in the first paragraph. [Baker]
  2. An example of a natural resource in the fourth or sixth paragraph.[Herbs, tomatoes, garlic, onion]
  3. An example of capital resources in the fourth paragraph. [Mixers, oven]

Part II:​
Pizza is a very popular food. Americans eat 350 slices every second and consume 100 acres of pizza daily.

You will have $10 to spend. You will not have to spend the whole $10, but cannot spend more than $10. Think about how many slices of pizza you would be willing and able to buy at each of the following prices. Write the number of slices you would be willing and able to buy at each price in the chart.

You should have completed a copy of Activity 1. You are to ask three of your friends how many slices of cheese pizza they would be willing and able to buy at each of the various prices, if they had an extra $10 to spend.

After completed Activity 1, transfer the information to the Demand Schedule for Cheese Pizza. The table should show amounts for each student - how much each is willing and able to buy. Students should add how many slices their three friends are willing and able to buy at each price and determine the total amount demanded at each price and record it under the column labeled total.




Part III:
Students are going to apply what they have learned to blue jeans.

To learn more about the gold rush and blue jeans, students will use these these sites:
Inform the students that mining for gold required many productive resources. To find some of the resources used, students should access the Mining for Gold site.
  • Students will look at the picture and find an example of each type of productive resource-natural, human, and capital.
  • During the Gold Rush, Levi Strauss made durable pants for the miners out of canvas. Later he made the pants from a heavy blue denim called genes in France, which became "jeans" in America. Even today, consumers love to wear jeans.
Students are to complete Activity 2 Worksheet. Use the information from the Market Schedule for Blue Jeans to make their own graph.

​
Online Activities 
  1. Inflation Activities
  2. Would you demand it
  3. Using Systems of Equation with Supply and Demand


Conclusion
  • To review, instruct students to complete Activity 3.


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Tues.

FYI
Students interested in obtaining roles should see Ms. Blount.  

Positions Available
   1.  Project Manager (2)
   2.  Executive Assistant
   3.  Office Assistant
   4.  Quality Assurance Manager/Tester
   
Bell Ringer
Introduction

​Covey Habit#4 Think Win-Win - Win-win sees life as a cooperative arena, not a competitive one. Win-win is a frame of mind and heart that constantly seeks mutual benefit in all human interactions. Win-win means agreements or solutions are mutually beneficial and satisfying. We both get to eat the pie, and it tastes pretty darn good!

Thinking on the Real World
Asking:

Things to Consider:
  • Informed and voluntary exchange is a win/win situation for the traders.
    • Domestic and international trade, money, foreign exchange

  • How Markets work when they are in competition, incentives, information, and property rights exist.
    • Supply, demand, relative scarcity, relative prices, entrepreneurs, profit competition, and market failures


Project
Activity 1- Due at the end of class


                    MARKET TO MARKET  

              Project - The Colonial Economy from 1600-1750



INTRODUCTION:
England's policy of mercantilism deprived colonial landowners of opportunities to purchase luxury goods. Only bare necessities seemed to make it to the colonies. This lesson will introduce students to the types of goods that were available for purchase at a typical colonial store. Students will complete this project in sections: activity 1 - 4 to be compiled for their presentation to the class and to the school. Save/post all assignments in your folder Unit 5 on your desktop. 


Economic Principles:

Analysis Skills
Chronological and Spatial Thinking:  
  • (-20 pt.) Use complete sentences. Check your grammar and spelling. One page minimum.  Your name should be at the top right corner, your topic (Market to Market) - centered. Each paragraph should include at least five sentences. 

Use MS Word to complete the responses to the prompt below. 
  1. ​​Students will place key events and people of the historical era they are studying in a chronological sequence and within a spatial context; they interpret/create time lines (20% of grade).
  2. Students will explain how the present is connected to the past (20% of grade), identifying both similarities and differences between the two, and how some things change over time and some things stay the same.
  3. Students will judge the significance of the relative location of a place (e.g., proximity to a harbor, on trade routes) and analyze how relative advantages or disadvantages can change over time (20% of grade).
  4. Students will use the link below to begin / complete their project


​
Things to consider
Check your pockets, how much money do you have? What coins or paper money (dollars) do you have? Do you get an allowance? If you do, how much do you get? The last time you went shopping how much did you spend?



Activity 2 - Due at the end of class
mer·can·til·ism
ˈmərkəntiˌlizəm,-ˌtē-,-ˌtī-/
noun
  1. belief in the benefits of profitable trading; commercialism.
    • historical
      the economic theory that trade generates wealth and is stimulated by the accumulation of profitable balances, which a government should encourage by means of protectionism.




                 Eighteenth Century Shopping

Colonial Market Place (Main Street / Town Square) 
  • Students will create a Virtual Museum based on a colonial market place.
  • Students will research and create the merchants shops that they think might be found in a colonial town between 1700 and 1775.
  • Once they have decided on the types of shops, they will create the products that might be found in their shops and how to make them.

  • The following are some crafts/products options below:
    • The majority of these crafts can be found in COLONIAL AMERICA COOPERATIVE LEARNING ACTIVITIES and FELICITY books by American Girl.
    • Projects Amer1700
    • Trade - Market to Market
    • Supply and Demand
      • Students will create at least two of the crafts (poster and dish/meal).  
        • Dish / Meal (20% of grade)
          • Students will create colonial food recipes from colonial time.  
        • Poster (20% of grade)
          • The students will write a short description of the craft, how they made it, and why/how it was used in colonial times. Students will begin their posters for the remainder of the class.  Using notebook paper create a draft of your poster.  Share with Ms. Blount by 8:10 am. Students will begin on their projects for homework to be completed by Wed. Wednesday's Bell Ringer will be to complete their poster for their presentation on Wednesday during class.
    • Materials: 
    • Examples of Dishes/Projects
      • Colonial Food ideas
        • Rock Candy
        • Roasted Chicken / Stew
        • Fruit Pies / Tart
        • Corn on the Cob
        • Bread / Apple Butter
        • Stewed Pompian
        • Hobnob Cookies and ApplejacksCookies
        • Johnny Cakes
        • Baked Beans
        • Old fashioned Stick Cancy
        • Rock Candy
      • Thirteen Colonies Word Wall / Colonies
        • ​Poster
        • Games from that time
          • (puzzes, word search)
          • Hangman - quia
          • Terms,... - quizlett
      • ​​Tea
        • Create two types of tea for the School Tour on Wed. (SmartLunch A/B)
        • Create a poster (Boston Tea Party)


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Wed.



Activity 3

Recent North Carolina
Since the 1970s, North Carolina has grown far more diverse than ever before. The state has also become more integrated with the rest of the nation and the world. Traditional industries have declined, while new ones have grown up. The political landscape has changed, as the Republican Party became a major factor in the state for the first time since the 19th century. The natural environment, both as something to be protected and as a source of danger, has increasingly demanded attention.


The project combines primary sources with articles from a variety of perspectives, maps, photographs, and audio recordings to tell the many stories of recent North Carolina, using the references below. Students will create a colleague (20% of grade) of pictures, summarize (70%  of grade) and respond to the prompts below using complete sentences. Each paragraph should have at least five sentences.  Place your name at the bottom of your page, titled- Recent North Carolina (10% of grade)
  • the personalities, issues, and broad changes in the state’s politics
  • North Carolina’s role in a changing nation and world
  • the rise of new industries and changes in old ones
  • struggles to protect the state’s environment
  • the impact of Hurricane Floyd
  • the state’s growing diversity

​

References
  1. THE NATIONAL SCENE
    1. The Reagan years
    2. The presidency of George H. W. Bush
    3. The United States in the 1990s
    4. The war on terror and the presidency of George W. Bush
  2. POLITICS, PERSONALITIES, AND ISSUES
    1. Mapping election returns, 1960–2008
    2. Jim Hunt
    3. "Senator No"
    4. The 1984 Senate campaign
    5. Henry Frye
    6. Urban renewal and the displacement of communities
    7. Urban renewal and Durham's Hayti community
  3. THE CHANGING ECONOMY
    1. Research Triangle Park
      The Research Triangle Park (RTP) was founded by a committee of government, university, and business leaders as a model for research, innovation, and economic development. By establishing a place where educators, researchers, and businesses come together as collaborative partners, the founders of the Park hoped to change the economic composition of the region and state, thereby increasing the opportunities for the citizens of North Carolina.
      • Format: article
      • Relevant dates: 1956–2006
    2. The closing of a factory
    3. Key industries: Banking and finance
    4. Key industries: Biotechnology
    5. Key industries: Furniture
    6. Key industries: Hog farming
    7. Key industries: Information technology
    8. Key industries: Textiles & apparel
    9. Key industries: Tobacco


Activity 4 - Due at the end of class
Students need to set up their shops and make trade signs to advertise the goods in their shops. Once they have set up their shops, they will conclude their project with one of the options below - See Ms. Blount for approval, before beginning to receive credit.
  1. Students may include a skit ( 10 students),
  2. Students can create a poetry or rap (1)
  3. Students can perform dances of that time (8 students).
  4. Careers of colonial times (9 students)
    1. ​They will compare careers of colonial times with careers of today by identifying and explaining:
      1. Requirements
      2. Training needed
      3. Responsibilities
      4. Salary / Cost of living
  5. They will invite the rest of the school to come and browse their shops during SmartLunch A / B (Wed.)


Students will:
  1. Use all project activities 1 - 4,
  2. Create a poster (Tri-fold) for our class
  3. School presentation scheduled for Wed.


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Thurs., Nov. 17



WHAT'S MY LINE (25 min.)

Object of game:
  • Students will recognize skills and services related to various colonial Occupations.

Materials:
Procedure:
  1. Students will work in groups of four. Each members secretly draws an occupation from the Occupation Cards.
  2. Group members take turns asking one student questions about his occupation. After each student has asked one question, each has a chance to guess the occupation or continue asking questions. The person who guesses the correct occupation is the next to be interviewed.
  3. The winner is the group that guesses the occupations of all members with the fewest questions.



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THE BARTERING GAME (25 min.)

Object of game:
  • Students develop an understanding of the trade/barter system of the colonies

Materials:
  • Actual objects, such as colonial crafts the students have made, or pictures of objects to trade.

Procedure:
  1. Students develop a Barter Agreement.
  2. The name of shopkeeper, items to exchange/barter, and the name of the customer should all be included on this agreement Shopkeepers make signs for store and set up store.
  3. Customers/Students will go from shop to shop to try and make best trades

Assessment:
After the game is over the class gathers to discuss trades they made and Shopkeepers
discuss their trades.


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MATCH GAME  (25 min.)
  • Students match occupations with products using Occupation Co-op Cards.



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​Mon. - Wed., Nov. 21 - 23

Capstone Project(s)


5.01 How Much Does It Cost Now lesson
Here is a link for a great resource of CPI figures from 1913-present. The excel spreadsheet that you download from the website listed in the How Much Does It Cost Now lesson did not have some of the years needed to complete the work problems (or maybe I downloaded it wrong!). Either way, this is a great resource.


Credit goes to the CMS Team: due to size of the files I will post by Objective
 5.01 Consumer Price Index Day 6.xlsx
 5.01 Day 1 Lesson.docx
 5.01 Day 2 Lesson.docx
 5.01 Day 3 Lesson.docx
 5.01 Day 4 Lesson.docx
 5.01 Day 5 Lesson.docx
 5.01 Day 6 Lesson.docx
 5.01 Notes.pptx
 5.01 Student Note Guide.docx


 5.02 Supply and Demand Answer Key.docx
 Math - Inflation CPI worksheet.docx


 5.04 Day 1 Lesson.docx
 5.04 Govt Econ PPt layout (link within the State Curriculum).docx

Credit goes to the CMS Team




Fri., Nov. 16


  • PREP FOR PRESENTATIONS


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  1. Shark Tank Project
    1. This is an independent activity.  You will not be in groups.

​Sharks are Coming!!!
https://sites.google.com/a/chccs.k12.nc.us/mcswain/classes/Principles-of-Business--Finance/unit-2-00
​https://sites.google.com/a/pender.k12.nc.us/mignogna/marketing
​https://sites.google.com/a/chccs.k12.nc.us/mcswain/classes/Principles-of-Business--Finance/unit-2-00






​
  1. http://www.montgomery.k12.nc.us/Page/6350
  2. http://www.practicalmoneyskills.com/games/trainingcamp/ff/inc/lang/en/modules/web_modules/PRO.pdf
  3. FGames - http://www.practicalmoneyskills.com/games/trainingcamp/ff/play/ 
  4. SGames - http://www.financialsoccer.com/play/play.php
  5. Moneygames - http://www.practicalmoneyskills.com/games/