Project #6 The Good Ol’ Days

The Good Ol’ Days project helps students to develop an understanding of economic policies and measures through a study of present economic indicators and past economic events.

Each student will individually measure the health of today’s U.S. economy, and each team will research economic events that took place during a different assigned time period in the past 100 years.

Each team will study what caused these events; how government, businesses, and the American family responded to these events; the overall health of the U.S. economy during the time frame; and how good (or bad) life was during the time period as a result of economic events.

After conducting extensive research, each team will prepare a presentation/skit that explains what they have learned. The team presentations will be video recorded, and the video will be shared with eighth grade social studies students.

Just how good were the “Good Ol’ Days”?

• How healthy was the U.S. economy during your assigned time period?
• What economic events took place during your assigned time period?
• What was their impact on the American family?
• How did the government cause and/or respond to the economic event(s) in your assigned time period?
• How did these government actions affect the American family?
• How did businesses respond?
• How did businesses’ responses affect the American family?
• What did the American family look like in your assigned time period?

Part 1 Team Project

1. Using the driving questions as guideposts, each team conducts extensive research of its assigned time period to develop an understanding of the health of the U.S. economy during that time frame, significant economic events that occurred, and the impact on the American family.  Each team will create a timeline using http://www.timetoast.com/ to identify the significant events in your assigned time period.
2. As a result of this research, each team develops a five-to-seven minute skit that answers the driving and supporting questions in simple terms. Team members should portray different members of an American family typical of the period.  It is important that each team learn who made up the typical American family during their time period, what jobs were common at that time, how people dressed and spoke during the time, etc.

Team Assignments

• P2 Good O’l Days 2017
• P4 Good O’l Days 2017
• P7 Good O’l Days 2017

Time periods

• 1900-1929   Team 1
• 1930-1959   Team 2
• 1960-1989   Team 3
• 1990-2017   Team 4

Part 2 Individual Reflection

Each student will compose a 2-page individual written reflection piece that requires him/her to consider the purpose of studying economic indicators, policies, and events of the past. Cite your sources as you answer the following questions:

• What’s the benefit of looking at economic indicators and policies over time?
• Why should we learn how government and businesses cause and/or respond to economic events?
• Why should we learn how the American family can be affected by economics?

Time frame

April 17 & 18 2017

•  Briefing – Taxes
• Project #6 Introduction Create a Project Plan and Team Contract
• Teamwork

April 19 & 20, 2017

• Objective Exam
• Teamwork

April 21, 2017

• Teamwork – Project Plan and Contracts Due

April 24 & 25, 2017

• Briefing on Inflation
• Teamwork

April  26 & 27, 2016

• Briefing – Consumer Spending
• Briefing – Economic Expansion and Contraction
• Teamwork

April 28, 2017

• Quiz 6A Gross Domestic Product, Economic Expansion and Contraction
• Teamwork

May 1 & 2, 2017

• Briefing – Unemployment Rates
• Teamwork

May 3  & 4, 2017

• Briefing – Interest Rate Fluctuations
• Teamwork

May 5, 2017

• Quiz 6B Consumer Spending and Unemployment Rates
• Teamwork

May 8  & 9, 2017

• Briefing – Briefing – Business Cycle
• Teamwork

May 10 & 11, 2017

• Briefing – Monetary Policy
• Teamwork

May 12. 2017

• Quiz 6C Interest Rate Fluctuations and Business Cycle
• Teamwork

May 15 & 16, 2017

• Briefing – Fiscal Policy and Government Expenditures
• Teamwork

May 17 & 18, 2017

• Teamwork

May 19, 2017

• Team  Presentations (Be ready to go at the beginning of class)
• Individual Reflections Due

May 22 & 23, 2017

• Final Exam Review

May 24, 2017

• To Infinity and Beyond

May  25 & 26, 2016

• Final Exam

 

Project #5 Seven Days and Six Nights

Project Overview: Students will explore international vacation destinations to develop an understanding of exchange rates and the value of the dollar in other countries. Each team will conduct thorough research of multiple vacation destinations outside of the United States and then select the one that team members believe would allow a person to get the most for $4000. The team will then develop a non-PowerPoint/Google Slides presentation that creatively explains their international vacation destination choice, incentives involved, the exchange rate, and expenses incurred during the week-long vacation.

After conducting extensive research, each team determines where in the world one individual could get the most vacation outside of the United States for $4000/person. The team must consider:

• round-trip transportation
• lodging for six nights
• three meals per day for seven days
• cost of tourist activities/excursions
• ground transportation in country

After determining the most economical international vacation setting, the team creates an presentation to explain the reasons for choosing their vacation destination.  Each team should choose how they want to present their choice using any presentation style other than a PowerPoint or Google Slide show

Include the following information in your presentation:

• List all of  the international destinations that were considered as possible vacation alternatives. (You must evaluate at least 3 locations)
• Explain the rationale for the vacation destination selected (use a Decision Matirx Template)
• The vacation destination, mode of transportation, type of lodging, source of meals, and possible tourist activities/excursions.
• Financial and non-financial incentives to go to the chosen international destination.
• Listing of expenses: transportation, lodging, meals, and any tourist activities that the team has selected in U.S. Dollars and the local currency.
• The vacation destination’s exchange rate. Click here for an exchange rate calculator. Express all expenses in U.S. Dollars and the local currency.
• An explanation of what created differences in money values in the U.S. versus the vacation destination.

One presentation alternative is an interactive Glog/digital poster using Educator Code 6BBCBU that “sells” your vacation destination. The Glog/poster must be creative.

Another alternative is Prezi

Or choose one of these 5 Prezi Alternatives

Presentations will be graded using Oral Presentation Rubric

Click here to join a team.  Each team must have 3 or 4 members.  You choose which team you will join.

Time Frame

April 4 & 5, 2017

• Project #5 Introduction
• Briefing – Organized Labor
• Teamwork

April 6 & 7, 2017

• Quiz 3B Fixed and Variable Costs, Breakeven Analysis, Organized Labor
• Briefing Exchange Rates
• Teamwork

April 10 & 13, 2017

• Teamwork

April 11, 2017 No Classes

April 12, 2017 (Periods 2 & 4 Only 30 Minute Classes)

• Teamwork

April 14, 2016

• Seven Days & Six Nights Presentation

Project #4 China Dynasty

Project Description:

Individually, students will conduct secondary research to develop a written report comparing the production of goods in the U.S. to the production of goods in China.

Part 1 Individual Report

Each student will individually conduct secondary research and develop a three-page written report (double spaced 12 pt Times New Roman font with cited sources and bibliography)  covering the following concepts that compare the production of goods in the U.S. to the production of goods in China:

• Comparison of China and U.S. workforces (size, education, income, union vs. non-unionized, trends in productivity, etc.)
• Reasons U.S. companies have goods produced in China and reasons China chooses to produce goods for U.S. companies
• How U.S. companies get goods produced in China (import/export from other companies, wholly owned subsidiaries, etc.)
• How off shoring impacts the domestic economy
• What problems U.S. companies encounter with goods produced in China
• How quality issues with goods produced in China could be addressed
• Sources to help you get started (you may use one of these and find at least three more on your own minimum of 4 cited sources)

• Doing Business in China: Five tips for Success
• Ten Principles for Doing Business in China
• American Manufacturers Should Get Ready to Each China’s Lunch
• Adjusting to China
• The China Vision

The report will be graded using this Written Report Rubric

The Oral Presentation will be graded using this Oral Presentation Rubric

Part 2 Team Work

After completing their individual reports, each team of students will be given a stuffed animal and assigned the task of determining where they want to produce that item—in China or in the U.S. To make their decision, each team will need to consider a number of factors, including:

1. How to produce the stuffed animal
2. What issues or risks might arise in production
3. How to deal with those issues and risks

After considering these factors, each team will develop and use a decision matrix to select where to produce its stuffed animal and then present an oral report explaining:

1. Where the team chose to produce the item
2. What risks are involved in making the stuffed animal in the selected location
3. How the team would deal with these risks.

China Dynasty P2

China Dynasty P4

China Dynasty P7

Time Frame

03/03/2017

• Test 1
• Project Introduction

03/06 & 07/2017

• Briefing Specialization of Labor &  Productivity
• Individual Research

03/08 & 09/2017

• Briefing on Fixed and Variable Costs
• Individual Research Continued

03/10/2017

• Briefing Standard of Living/GDP
• Individual Research Continued
• Individual report due next class

03/13 & 14/2017

• Briefing Nature of Quality & Quality Controls
• Individual Reports due
• Start Project #4 Group Contract, Group Plan China Dynasty Team Contract and Plan due next class
• Team work
  • Each team will receive their stuffed animals to determine it should be produced in the U.S. or in China.

03/15 & 16/2017

• Quiz 3A (Outputs, Productivity, Standard of Living)
• Briefing on International Business
• Teamwork Project Contract and Plan Due.

03/17/2017

• Briefing on Organized Labor
• Teamwork

03/20 & 21/2017 (30 min classes  PARCC Testing)

• Quiz 3B (Organized Labor, Fixed and Variable Costs, Breakeven Analysis)
• Teamwork

03/22/2017 (30 min classes  PARCC Testing)

• Teamwork
  

03/23 & 24/2017

• Team Oral Presentations

Project #3 Make the Most of It

Part 1 Team Project

Project Description: In this project, students will develop innovation and decision-making skills as they determine the best use for a vacant building in their community.

• Each team will interview 10 residents and business people to learn what members of the community would like to see done with the vacant building.
• Following these interviews, team members will identify the three best possible uses for the property and determine the opportunity costs of each choice.
• Finally, after developing and using a decision matrix, each team will give an oral presentation and submit a written proposal to the in which the team explains its best use for the vacant building and rationale for the team decision.
  • Written Report Rubric
  • Oral Presentation Rubric

Period 2 Make the Most of It

Period 4 Make the Most of It

Period 7 Make the Most of It

 Part 2 Individual Project Diary

In addition to team activities, each student will also keep an individual diary of events throughout the project to reinforce individual understanding of and participation in the project.  The diary should identify what the student did each day of the project and what they learned about making decisions that impact the community.

Time-frame

02/21 & 22/2017

• Briefing – Innovation Skills
• Start Project #3 Group Contract, Group Plan
• Project Team work

02/23 & 24/2017

• Briefing – Opportunity Cost & Decision Matrix
• Group Contract and Group Plan due
• Create Interview Questions and turn in.
• Click here for the Excel Decision Matrix Template
• Create a plan to interview businesses in the area of the property being developed
• Project Team work

02/27 & 02/28/2017

• Quiz over Innovation, Opportunity Cost and Decision Matrix
• Project Team work
• Click here to see the
• Survey Questions

03/1 & 2/2017

• Project Team work first 45 minutes
• Oral Presentations second 45 minutes

Helpful Links

Denver Zoning Code

Bing Maps

Google Earth

Part 1 Team Activities

In order to determine the best use for the vacant building, each team must complete a series of steps. The steps involved are:

1. Investigate zoning and assess the surrounding business community.
2. Compose interview questions that could be used to find out what locals would like to see in place of the vacant building. After each team has written its interview questions, the class should compare the questions and select the best questions to use for the interviews.
3. Interview people in vacant building’s neighborhood to learn what they would like to see in place of that vacant building. Each team member should interview at least two people in the neighborhood, and students should make an effort to get responses from both the business community and residents. Each team should compile a list of the interviewees’ names, addresses, and responses.
4. After conducting the interviews, use feedback and innovation skills to brainstorm for specific uses of the property.
5. Select the three best uses for the property from its list.
6. Determine the opportunity costs associated with each of the three possible uses for the property. Consider such factors as potential revenue generated, jobs created, aesthetics of neighborhood, etc.
7. Determine criteria for selecting the best use for the property.
8. Develop and use a decision matrix to determine the best use for the vacant building.
9. Develop a one-page written proposal to submit to the teacher. The written proposal explains the team’s decision about how to put the vacant building to best use and reasons why the team believes that is the best use for the property.
10. Deliver a five-minute presentation

Part 2 Individual Activities

To ensure that all team members are engaged in the project, each team member will keep his/her own written diary of events. Each student will compose a one-to-two paragraph diary entry each day describing team activities and his/her own contributions to the team.

Project #2 Photo Hounds January 30 – February 17, 2017

Driving Question:  What economic concepts could celebrities use to keep the paparazzi at bay?

Project description

Students will explore the world of celebrities and the paparazzi in order to develop an understanding of key economic concepts including supply and demand, the functions of prices, incentives, and the role of culture in the production, distribution, and consumption of goods and services. In teams, students will record infomercial videos that creatively address these key concepts as well as explain what they theorize celebrities could do to solve the problem of the pesky paparazzi.

Objectives of the project:

• Analyze the role of culture in the production, distribution, and consumption of goods and services (paparazzi photos, celebrity status,
• Discuss how incentives influence the economic behavior of individuals
• Explain the principles of supply and demand
• Describe the functions of prices in markets

Supporting Questions to be addressed in your team’s video:

1. How do the paparazzi work?
2. Why do the paparazzi hound celebrities?
3. Do celebrities need the paparazzi?
4. What incentives are at work here for celebrities? For paparazzi?
5. How does the U.S. culture impact paparazzi’s actions?
6. Why do the prices paid for celebrity photos fluctuate?
7. How do the principles of supply and demand apply to the paparazzi situation?
8. What could celebrities do to change the situation if they wanted to?
9. Why would your solution work?

 

Period 2 Photo Hounds

Period 4 Photo Hounds

Period 7 Photo Hounds

 

Part 1 Team Infomercial Video Due on 02/17/2017

Each team conducts research and develops a 5-minute infomercial video creatively depicting their team’s answer to the driving question. To ensure that students master the economic concepts related to this project, students must also address the supporting questions through their video.

In addition to being evaluated by the teacher using the rubric, fellow students also screen and vote on each team’s video. The class selects the best idea for keeping the paparazzi at bay.   Videos will be evaluated using Video Rubric

Part 2 Individual Written Report Due on 02/17/2017

After completing the group portion of the project, each student writes a one-page report in which s/he applies the concepts of incentives and prices to businesses who are considering “going green”. What incentives influence a business’s decision to go “green?” How are prices influenced by a business’s decision to go “green?”  How will deciding to go “green” impact supply and demand for a product?  Written Reports will be evaluated using Written Report Rubric

Link your Individual Report to the assignment in Google Classroom.

Timeframe

02/1 & 2/2017

• Briefing – Incentives
• Group Assignments, Group Contract, Group Plan
• Teamwork on Video

02/6 & 7/2017

• Quiz 1A (Economic Activities, Culture Impact on Economics, Economic Incentives)
  
• Group Contract and Plan Due
• Teamwork on Video

02/8 & 9/2017

• Briefing – Supply & Demand
• Supply and Demand Project Assigned
• Teamwork on Video

02/10/2016

• Briefing – Prices
• Teamwork on Video

02/13 & 14/2017

• Quiz 1B (Supply and Demand, Prices)
  
• Teamwork on Video

02/15 & 16/2017

• Teamwork on Video

02/17/2017

• Team Video Presentations in class
• Individual Written Reports Due
• Supply and Demand Project Due

 

Project #1 Lemonade Stand January 23 – 26, 2017

 

Objective: Students will explore economic resources and decision making by running a virtual lemonade stand for a 30 day simulation.  Students will record their daily sales and costs on a spreadsheet and reflect in writing on their results.

Virtually every decision that you and your friends make involves economics.

Driving Question: How can something as simple as Lemonade involve economics?

Please read all of the information in this post before you begin.

Choose your own teams of two people.  Each group will strategize how to sell lemonade and determine the key economic activities needed to be successful;  Production, Distribution, Exchange, and Consumption.  

You will be completing two rounds of selling lemonade for 30 days.  Each day you will receive a weather forecast on the TV.  Know that the forecast is not always correct.  One person on your team will control the game and the other will record the results on the tracking sheet.  Use two computers to run your simulation, one for the game and one for the tracking sheet.

Switch roles for round 2.

Person 1: Click here to start the Lemonade Game.  Try it out for a few days before you start the full 30 day round.  When your are ready to start refresh your browser screen and start the game over.  If you close your browser you have to start over.

Person 2: Track your progress using this Lemonade Stand Tracking Sheet  Save a copy and share it with your partner.  When complete add the link to your Google Classroom assignment.

Each day you sell lemonade your team will need to answer these questions.

1. How much lemonade will we make?
2. How will we let our customers know about our Lemonade stand?
3. How much will we charge for the Lemonade?
4. What will impact demand?
5. How will we track sales?

Identifying the economic activities involved in the activity on page 2 of the Note catcher

• Identify the production activities involved in creating the product
• Identify the distribution activities.
• Identify the consumption activities.
• Determine how many products were sold.
• Determine the team profit or loss.
• Account for the differences in sales and profit for all of the 30 days.

When you have completed the simulation answer the reflection questions on the Note catcher.

Now that you are an expert at selling Lemonade, play the simulation again and record your results on the Second Round tab of the Lemonade Tracking Sheet.  Use what you learned in round 1 to see if you can improve your total Net Profit after 30 days.

Remember to switch roles in round 2.

You will have time next class to complete the simulation.  During the last 20 minutes of the next class we will debrief as a class.  Your team should be prepared to discuss the following:

• Identify the production activities involved in creating the product
• Identify the distribution activities.
• Explain how you decided on the number of signs used to advertise your stand.
• Identify how you decided on the price you charged for each day.
• Identify the external factors impacting consumption activities.
• Identify what your team did to counter these factors.
• Determine how many glasses were sold.
• Determine the team’s net profit or loss for each round.
• Account for the differences in sales each day.
• Describe the strategy changes you made in the second round.
• Did your second round net profit increase or decrease? Why?