Economics Project # 1 Price/Markets

Goal: To develop a product , production plan, and marketing strategy that can be used to recruit investors.

Step One: Select a Product

In groups, select which product you’re going to produce.

Identify any competing products currently on the market. How will this affect your plan of attack?

Step Two: Development

Your group will need to decide all of the following things:

-what resources are needed to produce the product?

-What is the total cost to produce the product?

-Where are you going to produce the product?

-What are you hoping to charge for the product?

-What is the supply schedule for your product?

Step Three: Marketing

Your group will need to decide all of the following things:

What groups is your product targeting?

What are their demographics?

Age? Income? Interests?

Where are you planning on selling the product?

How are you going to market? What mediums will be most effective given your audience?

Step Four: Final Project

You will turn in:

1. The answers to your production questions, typed.

2. The answers to your marketing questions, typed.

3. A model of your product (small scale; it doesn’t have to work)

4. 3 examples of marketing/advertising that your business is going to use. Examples can include:

a. A television commercial

b. A radio commercial

c. A website

d. A print ad

e. A mock-up of a billboard

f. Or anything else you can think of….

You will be presenting your product, production plan, and marketing plan to the class as if you were trying to get them to invest in your business.

Due Date___________________

Economics Final Project

Choose ONE of the following options for your final economics project.

·         Option 1 – Current Events News Cast (Group of up to 3)

·         Option 2-Create an Economics or Government Board Game (Group of up to 2)

Option 3 – Economics or Government Video (Group of up to 3)

·         Option 4 – Economic or Government Music Video (Group of up to 3

·         Option 5 – Complete a full budget for your first year of college (Individual)

·         Option 6 -Think of a project (First ask me to get approval) (Size varies with project, get approval first!)

If you choose to work in a group, remember that one group grade will be given.  If your group members do not work, it will be taken out on your group grade as well.

*Broken printers and computers will not be excused. Email if you can’t print it. The school has several computers and printers available for student use. Plagiarism will not be tolerated.

Be sure to cite all sources using MLA citations (visit www.citationmachine.net, if you do not you will receive a zero.

Option 1:  News Cast

Many events have perspired over the course of this semester, if not the school year. We have discussed a few of these current events in class.  Now it is your job to summarize a few of those current events in a simulated News Cast.

You need to take any FIVE current events topics related to economics (it may even be one that we haven’t really covered in class) and transform them into a newscast of at least five (5) minutes.  This does NOT include the previews or the credits or commercials. Watch the news a few times to get an idea of how it is supposed to look.

Requirements to be turned in as a hard copy:

ü Script: Must be typed

ü Print out of the Current Event topics.

Presentation: This project can be performed live in class if you do not have access to a video camera and editing software.  Remember this video is supposed to be informative in nature and can be used to teach students about economics and how it pertains to high school students.

Use the grading rubric to help you create your video. 

Option 2:  Board Game

Your task is to design and create a board game suitable for teaching the basic terms and concepts of economics or government to junior high students.  Try to create an original and enjoyable game, because you might be teaching actual junior high students to play it.

Use your textbook, the library, the Internet, and any other resources that are available to you to learn about these terms and concepts. Finally, construct the actual game, including all its components and a set of clearly written instructions. Rubric is available online at http://new.schoolnotes.com/msdicola/

Remember to keep your vocabulary on a level that is appropriate for the players.  Also, do not assume that they have any prior knowledge of economics or government.

Option 3:  Economics Video

Yes folks, you have had to sit through them in class, and complain about them in class, and wonder when they were last created. Well, now it is your turn to be the creative mastermind behind an educational economics or government video.

You can take any economic or government topic that you wish (it may even be one that we haven’t really covered in class) and transform it into a video of at least five (5) minutes (that doesn’t include the previews or the credits).

Remember this video is supposed to be informative in nature and can be used to teach students about economics and how it pertains to high school students.  

Option 4: Music Video

You can take any economic or government topic that you wish (it may even be one that we haven’t really covered in class) and transform it into a music video of at least three (3) minutes long (that doesn’t include shout outs or the credits).

You can take the words to an existing song and change them or create your own from scratch. Either way, be sure that it includes at least 15-20 different economic/government concepts/ vocabulary that are all relevant. 

Option 5:  Planning for College

GRADED COMPONENTS

All written work and research for your final MUST BE submitted as follows:

1.  Bound in a three ring binder

2.  All pages numbered except the cover page, table of

     contents, and resume page.

3.  The following sections will be included in addition to the three

     aforementioned pages:

            a. Location description and rationale

            b. Job description and rationale

            c. Residence description and rationale

            d. Necessities description and consumer logic

            e. Final budget in addition to all “drafts” and/or “scrap” paper used

     to prepare it.

f. A “Discoveries” section (to be described later).

g. Visual aids

PROJECT DESCRIPTION

            YOU HAVE…

·         $500.00 cash

·         A major credit card with a $5,000.00 credit limit and a fixed APR of 18% on all categories.

·         A sufficient wardrobe

·         The following debt(s) in addition to any you incur to complete the project objectives:

a. If you choose to buy an automobile your insurance will be 

    $80.00 /mo.

b. If your residence does not INLCUDE utilities you must get

    a utilities quote from me.

c. If your job requires a degree/certification beyond high

    school you must assume the following debt load and 

    calculate the following to find the monthly payment:

ALL OF THESE BASED ON A 20 YEAR TERM

-          High school diploma              $0.00

-          2yr. College/Vocational         $18,000.00 at 10% APR

-          4yr College                               $36,000.00 at 8% APR

-          Beyond a Bachelors degree $75,000.00 at 6% APR

d. You CAN NOT get a job that requires more than a year’s

     experience unless you assume the highest level of education.

YOU MUST…

·         Get a job

·         Get a place to live and pay 2 months rent up front.

·         Complement your residence with at least five items IN ADDITION to a bed (an entire bed…frame, box spring, etc.!) within the first three months.

·         Provide yourself with viable transportation by either purchasing a vehicle (must be motorized) or finding a public transportation option.

      **You may only walk to work if you live within .5 of a mile of     

         your place of employment.**

·         Create an annual budget that will accommodate your life using the resources available to you.

YOU CAN NOT…

·         Live with parents, friends, relatives, etc., etc…YOU ARE ON YOUR OWN!

·         Rely on anything other than the limited list of things you HAVE above.

·         Live outside of the U.S.

·         Join the Armed Services

***NO USE OF ONLINE AUCTION HOUSES (EBay) FOR PURCHASES***

PROCEDURE

             

First, you must choose a city/town where you will reside and/or a career field you intend to peruse.  Once you know what job(s) you intend to go after you will want to create an up to date resume that addresses the qualities your new employer is looking for.  What kind of degree/certification have you attained?  Where did you receive it from?  What kinds of relevant experiences can you add?  Most of this is going to be fictional, that is the purpose!  Try to imagine yourself 3? 5? 7? years down the road.  Of course you may need to adjust this depending on where and what you intend to be doing however, once you decide it is complete you must have your resume reviewed and approved by Mr. Stein.

            Next, you will need to secure a place to live.  Also, you will need to provide transportation to and from your job and make the necessary purchases to complement your abode.  If you intend to use public transportation you must be able to document its viability, i.e. a bus schedule.  Buying a car means you’ll need to decide between new and used, make and model, and of course provide an actual cost analysis. 

For every aspect of this project you must provide ACTUAL documentation.  You will use newspapers, online postings, magazine classifieds, and college posting boards, etc. in order to do this.  Please make a Xerox copy (do not shred the newspapers of the library by cutting!) of the advertisement that includes the date and title of the source.  For example:

           

You intend to rent an apartment in Watertown.  You will

provide a copy of the ACTUAL classified ad or posting that proves the apartment exists.  As well, you will need to document its location and the associated cost(s).  If the advertisement you are looking at does not provide this you will have to either CALL (research) or find something ELSE.  You must provide a map of its location within the town/city.  (Mapquest.com)

*Find phone number origins using the AnyWho search (http://www.anywho.com/)

BUDGET

            You will need to create a monthly budget that reflects the following:

·         Gross income

·         Net income

·         Required expenditures

·         Additional expenditures

·         Discretionary income

You will also be required to calculate ALL of the interest that has accrued on your debts, as well as what your outstanding balances look like after the course of ONE year.

VISUAL AIDS

·         Map #1 (road map) – Madrid, NY to your new residence.

·         Map #2 (road map) – Your new residence to your place of

  employment.

·         A pie graph (like p. 25) that shows YOUR annual household budget

·         An “advertisement” of your life! 

-  this is very “open ended” and could be in almost any format.  The basic theme is “This is ME!”.  Most commonly this has been done in a collage style on poster board however I am STRONGLY encouraging people to look toward PowerPoint slide shows or music videos.  ALL presentations must exceed 3 minutes in length, be organized and coherent.

Mock Trial Instructions & Information

Important Skills for Trial:

1.  Deciding which points are the most important to prove your side of the case and making sure such proof takes place.

2.  Stating clearly what you intend to prove in an opening statement and then arguing effectively in your closing that the facts and evidence presented have proven your case.

3.  Following the formality of the court, e.g., standing up when the judge enters or when addressing the judge, calling the judge "Your Honor," etc.

4.  Phrasing direct examination questions that are not leading or asking so many questions on cross- examination that well-made points are lost. When a witness has been contradicted or otherwise discredited, learn to  limit additional questions, as they often lessen the impact of previously made points.

5.  Present relevant items as evidence to prove or disprove the case.

6.  Thinking  quickly  on your  feet  when  a  witness  gives  an unexpected  answer,  an attorney  asks unexpected questions, or a judge throws questions at you.

7.  Recognizing which questions  and answers are objectionable, offering  those objections  quickly, and providing the appropriate basis for the objection.

8.  Paying attention to all facets of the trial, not just the parts that directly affect your presentation. All information heard is influential! Learn to listen and incorporate information so that your presentation, whether as a witness or as an attorney, is the most effective it can be.

9.  The mock trial should be as enjoyable as it is educational. If the judge falls asleep in the middle of the trial….

Steps in a Trial:

Step 1 – Swear in Jury

Step 2:  Opening Statements (Prosecution/Defense)

Step 3:  Prosecution presents their case

•      Call witnesses (all witnesses need to be sworn in)

•      Present evidence

Step 4:  Defense presents their case

•      Call witnesses (all witnesses need to be sworn in)

•      Present evidence

Step 5:  Closing arguments

Step 6:  Judge give jury instructions and goes over rules & laws

Step 7:  Jury is dismissed to deliberate

People involved in the Trial

•      Plaintiff. The plaintiff is the person who begins the suit. In the complaint, the plaintiff states, or alleges, that he or she was injured by the conduct of another. The plaintiff usually is represented by a lawyer.

•      Prosecuting Attorney: In this case, the P.A. and the plaintiff will probably be the same person. The P.A. may represent the state (as in the case of murder) because the actual victim (or plaintiff) may not be available.

•      Defendant. The defendant is the individual sued by the plaintiff. In this trial, you will be presenting a criminal case. The defendant usually is also represented by an attorney.

•      DefenseAttorney: This person disputes the statements or allegations or may admit the allegations, but argue that he/she has a valid defense to the claims (such as self-defense).

•      The Judge. The judge decides which disputed facts (evidence), may be presented to the jury. The judge also tells the jury in "jury instructions" what the applicable law is. The judge decides the issues of law in the case. In this trial, your teacher will act as the judge.

•      Court Reporter. The clerk writes down all  questions  asked and the answers  to them as well  as any objections made.

•      The Jury. The jury is usually a group of ordinary citizens selected to decide the case. A jury usually is made up of a group of six or twelve individuals, depending on state law. In most states, a jury must reach a unanimous verdict. That is, all members of the jury must agree with the decision. Some states allow for less than a unanimous verdict in some civil cases. If less than the required number of jurors agree, then the jury is a "hung jury." That means that the jury was unable to reach a decision. In that case, the case can be tried again.

•      Witnesses.  Witnesses must have specific knowledge of what happened. Witnesses are generally not allowed to present hearsay testimony (such as gossip). Witnesses may detail objects the attorney puts into evidence. Expert witnesses may not know the specific facts in the case but may use their specialized knowledge to help the jury understand complex evidence.

•      The Bailiff. The bailiff is a court officer charged with keeping order in the court and helping the jury. A bailiff also may oversee custody of prisoners while in court during criminal cases and swears in the witnesses.

Bailiff’s Primary responsibility:

Calling court to order & swearing in witnesses. Additionally, the bailiff must bring a copy of the “Team Rulebook and Case packet,” should the judge need to clarify an issue or question.

· When calling court to order or swearing in witnesses, use language in case packet.

· remind audience to turn off all cell phones. There is ABSOLUTELY NO FOOD allowed in the courtroom. Water is OK. If guests must step outside they should do so quietly in order to avoid disrupting the participants.

                                             

Swearing in a Witness:

“Please raise your right hand.  Do you swear that the testimony you are about to give is the truth, the whole truth, and nothing but the truth, so help you god?”

“I do.”

Objections Attorneys can use:

Each attorney can plan to purposely make mistake to keep the opponent on his toes.

1.  Ambiguous- question is vague, uncertain in meaning, or capable of being understood in more than one way.

2.  Asked and Answered- should be used to stop repetitive questioning.

3.  Argumentative- permits opposing counsel to badger the witness into changing his story even though he may not mean to do so.

4.  Assumes facts not in evidence-  the question  may trap the witness  into  affirming  the truth  of the assumed fact, without meaning to do so.

5.  Badgering- the attorney is asking questions in such a way that is intimidating or upsetting the witness.

6.  Calls for speculation- witness is asked to just guess at the answer.

7.  Irrelevant- unconnected with the case.

8.  Leading- should be made as soon as it becomes apparent that opposing counsel is testifying for the witness.

9.  Multiple questions- question is really a series of questions and the jury may be confused as to which question is being answered.

10. Repetitive questions- question needlessly repeats prior questions without adding to the evidence. The question has previously been asked and answered.  NOTE: An attorney, on cross-examination, may repeat a question asked on direct and may at times repeat his own question for emphasis.

What you need to turn in:

 A.   Information from both the prosecuting and defense attorney (each side in a separate folder)

1.  Opening statements

2.  Closing statements

3.  All witness questions

B.   Witness information (with the defense or prosecuting attorney folder)

1.  A 200-250 word affidavit (description using "I" and involvement in the case) from each witness

C.  Jury verdict

A 200-250 word explanation of the verdict and why  it was chosen. Include any information that made this clear to you without a reasonable doubt. (Due for each member of the Jury)

D.   Bailiff information

A 200-250 word paragraph of information you think should have been shown or questions you think should have been asked of the witnesses and comments on how the trial went.

PROCEDURE TO INTRODUCE AN EXHIBIT

1)   Request permission to approach opposing counsel (try to get his /her name) with the exhibit.

2)   Show exhibit (clean and unmarked!) to the opposing counsel.

3)   State:  “Let  the  record  reflect  that  I   am showing  Mr./Ms  A  (if  don’t  get  name –  then  say “prosecution/plaintiff/defense counsel”) the  X (state  what  the  exhibit is – e.g. “Dr. Monarch’s autopsy report”), which has previously been marked as prosecution/plaintiff/defense exhibit #.”

4)   Request permission to approach the witness. (Wait to get permission!)

5)   Hand exhibit to the witness.

6)   Ask the witness, “Do you recognize this document?”

7)   Ask the witness, “What is it?”

8)   Ask the witness, “Is this a fair and accurate copy of the original?” (If a report written by the witness, ask, “And is this your signature at the bottom?”

10) Say to the judge: “At this time I would like to offer prosecution/defense exhibit #     into evidence.”

11) Proceed to question witness about exhibit.

12)  At END of examination, state, “Your honor,  I have no further questions at this time.  Permission to approach the bench and publish plaintiff/prosecution/defense exhibit x.”

If Already in Evidence

State: “I am now referring to what has previously been admitted as prosecution/defense exhibit #.”

If a Demonstrative, You do NOT need to enter these into evidence – they are merely for DEMONSTRATIVE purposes, i.e. to help someone explain something, and make their testimony more clear.  Their testimony stands as evidence, not the demonstrative.

 Try to have  the  witness  mention  that they brought a chart/map/etc  with  them  to court to help

explain what they are saying.

·            Ask the judge, “Permission for the witness to use this chart/map/etc to aid in his/her testimony?”

·             IF   given   permission,   ask,  “Permission   for   the  witness   to  stand   and  make   use  of   the

demonstrative?”

·            Try to set up demonstrative PRIOR to the examination, so this doesn’t eat up your time.  Just set up the easel and place the demonstrative faced backwards on the easel, so it isn’t showing.

·            If opposing counsel used a demonstrative that you will not  be using, take it down  after they are done with their examination.

Reminders about Entering Evidence

·            When  requesting  permission  to  do anything,  you are  asking  the  judge  for  permission,  and

remember to wait for it!

·            Remember  which side you are on: plaintiff/prosecution or defense.

·             Try to find out what your opposing counsel’s name is.

·            Use numbers, not letters to identify exhibits.

·            Keep  track  of  ALL exhibits  and demonstratives  entered  or used on BOTH  sides  – write  them

down!!!

·            Remember to ENTER the exhibit INTO EVIDENCE before you begin asking questions about it!