Real_World_Economics

 **Real World Economics** Design Activity EDC 665 – Group D
 * Abrash Khanmalek, Malika Viltz, Maria Johnson, and Matt Jackson**




 * __Executive Summary__**

Students learn about money at an early age, yet they are not exposed to modern day banking.

What is Economics?  The ultimate goal of the learning activity is to prepare today’s youth for tomorrow’s economy using technology. Our target audience for this activity is grade level 9 – 12. In the 21st century technology is an integral part of the learning process. Technology will serve as a vital tool for teachers, allowing them to bring real-time information into classrooms.
 * 1) The science of household affairs, or of domestic management.
 * 2) Political economy; the science of the utilities or the useful application of wealth or material resources
 * 3) The social science that deals with the production, distribution, and consumption of goods and services and with the theory and management of economies or economic systems.

There are many elements to real world economics that should be taught in schools today, some of them are outline below.  Once a student reaches their senior year of High School, they should have the basic knowledge and understanding of the bullets listed above. The learner would be required to pass an Economic test prior to graduating High School. Preparation (learning activity) for the test would consist of technology based programs with supplemental learning led by a teacher. A portion of this learning activity will be outlined in our goals for the learner. 
 *  understanding interest and avoiding and eliminating credit card debt;
 *  understanding the rights and responsibilities of renting or buying a home;
 *  managing money make the transition from renting a home to home ownership;
 *  starting a small business;
 *  being a prudent investor in the stock market and using other investment options;
 *  beginning a savings program and planning for retirement;
 *  bankruptcy;
 *  the types of bank accounts available to consumers and the benefits of maintaining a bank account;
 * <span style="font-family: Tahoma,Geneva,sans-serif;"> balancing a checkbook;
 * <span style="font-family: Tahoma,Geneva,sans-serif;"> the types of loans available to consumers and becoming a low-risk borrower;
 * <span style="font-family: Tahoma,Geneva,sans-serif;"> understanding insurance; and
 * <span style="font-family: Tahoma,Geneva,sans-serif;"> charitable giving.
 * Although there are many elements to real world economics, this Learning Activity will focus on; **
 * <span style="font-family: Tahoma,Geneva,sans-serif;">Obtaining and maintaining credit
 * <span style="font-family: Tahoma,Geneva,sans-serif;">What is a credit report and what’s your score and why is important?
 * <span style="font-family: Tahoma,Geneva,sans-serif;">Banking
 * <span style="font-family: Tahoma,Geneva,sans-serif;">Savings and Checking
 * The essential questions discussed for the learning activity are**
 * EQ 1**: How do you effectively budget with savings in mind?
 * EQ 2**: What are the benefits of maintaining financial stability?

The technology used in the learning activity is an enablement tool for the learners and not meant to be the sole means of learning. Some of the technologies we have identified for the learners to utilize are <span style="font-family: Tahoma,Geneva,sans-serif;">
 * Technology**
 * <span style="font-family: Tahoma,Geneva,sans-serif;">[|BudgetPulse]
 * Goals for our learning activity’s participants**

<span style="font-family: Tahoma,Geneva,sans-serif;"> <span style="font-family: Tahoma,Geneva,sans-serif;">
 * ======<span style="font-family: Tahoma,Geneva,sans-serif;">Savings Account ======
 * ======<span style="font-family: Tahoma,Geneva,sans-serif;">Checking Account ======
 * ======<span style="font-family: Tahoma,Geneva,sans-serif;">Account Balancing ======
 * __Goals for our team’s participants__**
 * ======<span style="font-family: Tahoma,Geneva,sans-serif;">What are we trying to learn from this activity. ======
 * ======<span style="font-family: Tahoma,Geneva,sans-serif;">Meet and exceed standards for the State chosen. ======
 * ======<span style="font-family: Tahoma,Geneva,sans-serif;">Ability to plan and design curriculum will help foster greater understanding of basic economics. ======
 * ======<span style="font-family: Tahoma,Geneva,sans-serif;">Teaching Student a basic life skill for success. ======
 * __Pre-Activity Requirements__**

=
<span style="font-family: Tahoma,Geneva,sans-serif;">//Each student is given a profession with a salary.// //The student will need to create a budget which reflects income/expenditures as well as savings if possible.// ====== <span style="font-family: Tahoma,Geneva,sans-serif;"> Please consider these two essential questions prior to starting the learning activity.
 * What is financial planning and why do we do it?


 * What are the components of a household budget?
 * __Student Adventure:__**
 * From this activity the learner will learn to: Effectively budget their income with savings in mind.**

All professions are assumed to be single with no children. Taxes are not enforced. <span style="color: rgb(23, 54, 93); font-family: Cambria;"> =<span style="font-family: Tahoma,Geneva,sans-serif;">Instructions for Group D Learning Activity =

<span style="font-family: Tahoma,Geneva,sans-serif;">
**1)** Register with [|Budgetpulse], create a free account and begin by using the information provided below as a starting point.


 * 2)** Each participant has been assigned an occupation with a monthly salary. You will use this information to create a budget and manage your expenses based on your monthly income.

EQ 1: How do you effectively budget with savings in mind? EQ 2: What are the benefits of maintaing financial stability?
 * 3)** Here are some essential questions to keep in mind as you go through the activity. Please respond to these questions on the [|discussion page].


 * <span style="font-family: Tahoma,Geneva,sans-serif;">Name || <span style="font-family: Tahoma,Geneva,sans-serif;">Occupation/Annual Salary || <span style="font-family: Tahoma,Geneva,sans-serif;">Monthly || <span style="font-family: Tahoma,Geneva,sans-serif;">Annually ||
 * <span style="font-family: Tahoma,Geneva,sans-serif;">Anne || <span style="font-family: Tahoma,Geneva,sans-serif;">Coach/Scout $33,290 || <span style="font-family: Tahoma,Geneva,sans-serif;">$2,774.17 || <span style="font-family: Tahoma,Geneva,sans-serif;">$33,290.00 ||
 * <span style="font-family: Tahoma,Geneva,sans-serif;">Greg || <span style="font-family: Tahoma,Geneva,sans-serif;">Recreation Worker $ 22,950 || <span style="font-family: Tahoma,Geneva,sans-serif;">$1,912.50 || <span style="font-family: Tahoma,Geneva,sans-serif;">22,950.00 ||
 * <span style="font-family: Tahoma,Geneva,sans-serif;">Jaime || <span style="font-family: Tahoma,Geneva,sans-serif;">Skin Care Specialist $29,550 || <span style="font-family: Tahoma,Geneva,sans-serif;">$2,462.50 || <span style="font-family: Tahoma,Geneva,sans-serif;">29,550.00 ||
 * <span style="font-family: Tahoma,Geneva,sans-serif;">Edgar || <span style="font-family: Tahoma,Geneva,sans-serif;">Tire Builder $38,220 || <span style="font-family: Tahoma,Geneva,sans-serif;">$3,185.00 || <span style="font-family: Tahoma,Geneva,sans-serif;">38,220.00 ||
 * <span style="font-family: Tahoma,Geneva,sans-serif;"> [|Kathleen] || <span style="font-family: Tahoma,Geneva,sans-serif;">Travel Guide $30,840 || <span style="font-family: Tahoma,Geneva,sans-serif;">$2,570.00 || <span style="font-family: Tahoma,Geneva,sans-serif;">30,840.00 ||
 * <span style="font-family: Tahoma,Geneva,sans-serif;">Karen || <span style="font-family: Tahoma,Geneva,sans-serif;">Child care workers $18,820 || <span style="font-family: Tahoma,Geneva,sans-serif;">$1,568.33 || <span style="font-family: Tahoma,Geneva,sans-serif;">18,820.00 ||
 * <span style="font-family: Tahoma,Geneva,sans-serif;">Melissa || <span style="font-family: Tahoma,Geneva,sans-serif;">Computer systems analysts $72,230 || <span style="font-family: Tahoma,Geneva,sans-serif;">$6,019.17 || <span style="font-family: Tahoma,Geneva,sans-serif;">72,230.00 ||
 * <span style="font-family: Tahoma,Geneva,sans-serif;">Josephine || <span style="font-family: Tahoma,Geneva,sans-serif;">Graduate teaching assistants $30,190 || <span style="font-family: Tahoma,Geneva,sans-serif;">$2,515.83 || <span style="font-family: Tahoma,Geneva,sans-serif;">30,190.00 ||
 * <span style="font-family: Tahoma,Geneva,sans-serif;">Sonja || <span style="font-family: Tahoma,Geneva,sans-serif;">Janitors and cleaners, except maids and housekeeping cleaners $21,730 || <span style="font-family: Tahoma,Geneva,sans-serif;">$1,810.83 || <span style="font-family: Tahoma,Geneva,sans-serif;">21,730.00 ||
 * <span style="font-family: Tahoma,Geneva,sans-serif;">Andrea || <span style="font-family: Tahoma,Geneva,sans-serif;">Mental health and substance abuse social workers $37,980 || <span style="font-family: Tahoma,Geneva,sans-serif;">$3,165.00 || <span style="font-family: Tahoma,Geneva,sans-serif;">37,980.00 ||
 * <span style="font-family: Tahoma,Geneva,sans-serif;">Dan || <span style="font-family: Tahoma,Geneva,sans-serif;">Amusement and recreation attendants $17,530 || <span style="font-family: Tahoma,Geneva,sans-serif;">$1,460.83 || <span style="font-family: Tahoma,Geneva,sans-serif;">17,530.00 ||
 * <span style="font-family: Tahoma,Geneva,sans-serif;">Colby || <span style="font-family: Tahoma,Geneva,sans-serif;">Air Traffic Controllers $110,270 || <span style="font-family: Tahoma,Geneva,sans-serif;">$9,189.17 || <span style="font-family: Tahoma,Geneva,sans-serif;">110,270.00 ||
 * <span style="font-family: Tahoma,Geneva,sans-serif;">Donna || <span style="font-family: Tahoma,Geneva,sans-serif;">Baggage porters and bellhops $21,580 || <span style="font-family: Tahoma,Geneva,sans-serif;">$1,798.33 || <span style="font-family: Tahoma,Geneva,sans-serif;">21,580.00 ||
 * <span style="font-family: Tahoma,Geneva,sans-serif;">Mici || <span style="font-family: Tahoma,Geneva,sans-serif;">Chemistry Teachers $70,100 || <span style="font-family: Tahoma,Geneva,sans-serif;">$5,841.67 || <span style="font-family: Tahoma,Geneva,sans-serif;">70,100.00 ||
 * <span style="font-family: Tahoma,Geneva,sans-serif;">Brooke || <span style="font-family: Tahoma,Geneva,sans-serif;">Coil winders, tapers, and finishers $26,910 || <span style="font-family: Tahoma,Geneva,sans-serif;">$2,242.50 || <span style="font-family: Tahoma,Geneva,sans-serif;">26,910.00 ||
 * <span style="font-family: Tahoma,Geneva,sans-serif;">Erin || <span style="font-family: Tahoma,Geneva,sans-serif;">Dentists, general $140,950 || <span style="font-family: Tahoma,Geneva,sans-serif;">$11,745.83 || <span style="font-family: Tahoma,Geneva,sans-serif;">140,950.00 ||
 * <span style="font-family: Tahoma,Geneva,sans-serif;">Chris || <span style="font-family: Tahoma,Geneva,sans-serif;">Explosives workers, ordnance handling experts, and blasters $41,240 || <span style="font-family: Tahoma,Geneva,sans-serif;">$3,436.67 || <span style="font-family: Tahoma,Geneva,sans-serif;">41,240.00 ||
 * <span style="font-family: Tahoma,Geneva,sans-serif;">James || <span style="font-family: Tahoma,Geneva,sans-serif;">Marine engineers and naval architects $75,400 || <span style="font-family: Tahoma,Geneva,sans-serif;">$6,283.33 || <span style="font-family: Tahoma,Geneva,sans-serif;">75,400.00 ||
 * <span style="font-family: Tahoma,Geneva,sans-serif;">Diljah || <span style="font-family: Tahoma,Geneva,sans-serif;">Middle school teachers, except special and vocational education $49,470 || <span style="font-family: Tahoma,Geneva,sans-serif;">$4,122.50 || <span style="font-family: Tahoma,Geneva,sans-serif;">49,470.00 ||
 * <span style="font-family: Tahoma,Geneva,sans-serif;">Tanner || <span style="font-family: Tahoma,Geneva,sans-serif;">Physicians and surgeons, all other $142,220 || <span style="font-family: Tahoma,Geneva,sans-serif;">$11,851.67 || <span style="font-family: Tahoma,Geneva,sans-serif;">142,220.00 ||
 * <span style="font-family: Tahoma,Geneva,sans-serif;">Brett || <span style="font-family: Tahoma,Geneva,sans-serif;">Multi-media artists and animators $58,030 || <span style="font-family: Tahoma,Geneva,sans-serif;">$4,835.83 || <span style="font-family: Tahoma,Geneva,sans-serif;">58,030.00 ||
 * <span style="font-family: Tahoma,Geneva,sans-serif;">Abrash || <span style="font-family: Tahoma,Geneva,sans-serif;">Baker $23,710 || <span style="font-family: Tahoma,Geneva,sans-serif;">$1,975.83 || <span style="font-family: Tahoma,Geneva,sans-serif;">$23,710.00 ||
 * <span style="font-family: Tahoma,Geneva,sans-serif;">Maria || <span style="font-family: Tahoma,Geneva,sans-serif;">Fast Food Cook $15,960 || <span style="font-family: Tahoma,Geneva,sans-serif;">$1,330.00 || <span style="font-family: Tahoma,Geneva,sans-serif;">15,960.00 ||
 * <span style="font-family: Tahoma,Geneva,sans-serif;">Malika || <span style="font-family: Tahoma,Geneva,sans-serif;">Health educators $45,370 || <span style="font-family: Tahoma,Geneva,sans-serif;">$3,780.83 || <span style="font-family: Tahoma,Geneva,sans-serif;">45,370.00 ||
 * <span style="font-family: Tahoma,Geneva,sans-serif;">Matt || <span style="font-family: Tahoma,Geneva,sans-serif;">Watch repair $32,760 || <span style="font-family: Tahoma,Geneva,sans-serif;">2,730.00 || <span style="font-family: Tahoma,Geneva,sans-serif;">32,760.00 ||
 * 4)** Create a household budget with the following categories: (* denotes non-mandatory category)
 * Rent/Mortgage
 * Transportation
 * Utilities
 * Clothing
 * Food
 * Insurance/Medical*
 * Entertainment*
 * Savings*(Attempt to budget with Savings in mind)

Goals – This activity should help you Learn Effective Money Organization (learn how to effectively manage income) <span style="font-family: Tahoma,Geneva,sans-serif;">
 * <span style="font-size: 10.5pt; font-family: Tahoma,Geneva,sans-serif;">5) ** <span style="font-size: 10.5pt; font-family: Tahoma,Geneva,sans-serif;"> Explore the Chart/Graph functionality of [|BudgetPulse] and be prepared to present Charts in class, if necessary.
 * Savings Account
 * Checking Account
 * Account Balancing


 * __<span style="font-size: 10.5pt; font-family: Tahoma,Geneva,sans-serif;">Survey __**

[|Link to Survey] <span style="font-family: Tahoma,Geneva,sans-serif;">

**__Reference List__**

TEKS, D. (1998). Texas Essential Knowledge and Skills for Economics with Emphasis on the Free Enterprise Systems and its Benefits: Sub Chapter A. High School Learning. //Texas Education Code//, A1 – A8. <span style="color: rgb(51, 51, 51);">Economics. (n.d.). //The American Heritage® Dictionary of the English Language, Fourth Edition//. Retrieved October 23, 2008, from Dictionary.com website: <span style="color: rgb(85, 85, 85);">http://dictionary.reference.com/browse/economics <span style="color: rgb(51, 51, 51);">Economics. Dictionary.com. //The American Heritage® Dictionary of the English Language, Fourth Edition//. Houghton Mifflin Company, 2004. <span style="color: rgb(85, 85, 85);">http://dictionary.reference.com/browse/economics (accessed: October 23, 2008).
 * <span style="color: rgb(0, 58, 102);">*American Psychological Association (APA): **
 * <span style="color: rgb(0, 58, 102);">*Chicago Manual Style (CMS): **