Economics Scrapbook Assignment

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Economics Scrapbook Assignment

• Mr. Tennant
• Esperanza HS / Senior Economics

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Contents

• 2. Resume
• 3. Sample budget for living in the OC
• 4. Shadowing a Career
• 5. What is a 401K plan? What is a Roth IRA?
• An Economic Song

1. Graph explanations - Surplus and Shortage -
AS / AD GDP growth - Phillips Curve - Lorenz
Curve - MS / MD curves - CFD - PPC
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Explanations of Econometric Models
The curve showing the relationship between the
tax revenue and the tax rate is called the
"Laffer Curve." It shows that raising tax rates
does not always increase tax revenues to the
government. In fact, if tax rates are already
high, raising them will reduce tax revenues (and
at some point, lowering them will increase tax
revenues).
of total Income
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In Billions
Like the example above, make an econometric model
(a graph) and offer an explanation of what the
model displays. Heres the list of the models you
need to have in your scrapbook Surplus and
Shortage AS / AD and GDP growth a Phillips
Curve a Lorenz Curve an MS/MD curve a CFD and
a PPC.
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Create a Résumé
The time to start compiling a Résumé is now.
Keen competition for careers means that almost
all paper screenings for employment positions are
done through the Internet. It will help you in
this process to begin thinking about this living
document that will grow and follow you all your
adult career. I will make a copy of this
document pictured at left available to you upon
request and you should also know that there are
numerous examples available on the Internet.
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Sample budget for living in the OC
You will use the spreadsheet that accompanies
this file. Change only the numbers in RED. Start
with how many hours you will work and your hourly
wage. Then figure your expenses. The spreadsheet
will figure the averages and you will see if you
have anything leftover at the end of the year.
Play with the numbers to get an idea of what kind
of income supports the OC lifestyle. You will
print this out and include it in your scrapbook.
Suggestion double check your numbers with your
parents.
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Shadowing a Career
Somebody today is doing what you want to do. They
are in the age range of 28 to 35 years old and
doing on a daily basis what you envision yourself
doing at that time in your life. Your task is to
find that person. Spend some time with them and
in some way, glean the following information
1. Why did you choose this profession? 2.
What education did you need to reach this level?
3. What obstacles did you overcome to reach
this level? 4. What are the downsides of your
profession? 5. How do you see your profession
changing in the next five years? 6. What is the
best advice you have to offer someone working to
enter your profession? Write this up, include
some pictures of the person you interviewed, and
give a reflection of your time shadowing them at
their workplace.
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What is a 401K? What is a Roth IRA?

• These financial devices will play a role in
  your future.
• Define each and write a reflective piece on
  each.

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Include a song with economic themes
Here is an example ... THE PRETENDER Jackson
Browne I'm going to rent myself a house In the
shade of the freeway I'm going to pack my lunch
in the morning And go to work each day And when
the evening rolls around I'll go on home and lay
my body down And when the morning light comes
streaming in I'll get up and do it again Amen Say
it again Amen I want to know what became of the
changes We waited for love to bring Were they
only the fitful dreams Of some greater
awakening I've been aware of the time going
by They say in the end it's the wink of an
eye And when the morning light comes streaming
in You'll get up and do it again Amen Caught
between the longing for love And the struggle for
the legal tender Where the sirens sing and the
church bells ring And the junk man pounds his
fender Where the veterans dream of the fight Fast
asleep at the traffic light And the children
solemnly wait For the ice cream vendor Out into
the cool of the evening Strolls the Pretender He
knows that all his hopes and dreams Begin and end
there
Ah the laughter of the lovers As they run through
the night Leaving nothing for the others But to
choose off and fight And tear at the world with
all their might While the ships bearing their
dreams Sail out of sight I'm going to find
myself a girl Who can show me what laughter
means And we'll fill in the missing colors In
each other's paint-by-number dreams And then
we'll put our dark glasses on And we'll go on
until our strength is gone And when the morning
light comes streaming in We'll get up and do it
again Get it up again I'm going to be a happy
idiot And struggle for the legal tender Where the
ads take aim and lay their claim To the heart and
the soul of the spender And believe in whatever
may lie In those things that money can
buy Though true love could have been a
contender Are you there? Say a prayer for the
Pretender Who started out so young and
strong Only to surrender I chose this song
because it reflects the reality of so many people
who become trapped in the consumerism of a
materialistic society. Browne uses vivid imagery
to show a rebel in search of a better way, who
sees children, old people, and young lovers
fighting against the push of a materialistic
society, who in the end, sell out for the
struggle of money and cover their eyes to the
deadening of their soul to the material world.
"Are you there? Say a prayer for the Pretender
Who started out so young and strong Only to
surrender."
This is a very MINIMAL example. I would expect
more discussion on a line by line basis for a
better evaluation. Choose a song, include the
lyrics, and write up a reflection (3-5 paragraph
essay) on the appropriate economic concepts.
Include it at the back of your Economic
scrapbook. For the scrapbook, use pictures,
graphs, and any other accoutrement you judge
would make the presentation appealing.
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Final Instructions
You can present this in a PowerPoint presentation
like this model, or you can put it in a
scrapbook, or a simple notebook, or use a mix of
all three. Your choice. Your due date will be
posted to you in emails. You will receive many
reminders. This represents 25 of your total
grade. It will take some time to do, so do not
wait till the last week to start your work. A
rubric for the project will be available at the
class website. Have fun.