Mr. Warren's Economics: 2014

Wednesday, May 14, 2014

Stock Market Game

Read the directions!

Follow the link to join in the stock market game. How much money can you make?

When you click the link you must first register. After you have registered you must enter the class password.

In order to buy stocks you first need to do some research about different companies. Go to http://finance.yahoo.com/ and look around on the main page for stories. Or if you know what kind of company you want to invest in, do your own research.

When you choose a stock you wish to buy, click on "trade now". Enter the amount of shares you wish to purchase and make the transaction. Everyone will start with $10,000.

You do not have to spend all of your money today, but you must buy stock in AT LEAST 1 company!

We will check back on your progress next week.

http://www.howthemarketworks.com/stock-market-game/join-a-contest.php?cid=49857

Wednesday, May 7, 2014

United States Budget

Use the following links to help you answer the questions about the U.S. budget.

Questions 1-9

http://www.nbcnews.com/id/41575850/ns/politics-white_house/t/obama-unveils-trillion-budget#.Us69a_TryA8

Questions 10 & 11

http://www.federalbudget.com/

Questions 12 & 13

http://www.mmb.state.mn.us/doc/budget/report-pie/general-mar11.pdf

Sunday, April 20, 2014

Personal Finance Webquest

Answer the following questions on your own sheet of paper.

1. Describe the following advantages of home ownership:

Scheduled savings-
Stable housing costs-
Tax benefits-

http://www.nfcc.org/housing/Advantages.cfm

2. Describe the following costs of home ownership:

Property taxes-
Risk-
Maintenance-

http://www.investopedia.com/articles/mortgages-real-estate/08/cost-of-owning.asp

3. Describe the following disadvantages of filing for bankruptcy:

Impaired credit and loss of credit-
Court costs and attorney fees-
Not all debt discharged-

http://www.attorneys.com/bankruptcy/disadvantages-of-filing-personal-bankruptcy/

4. What are five benefits of bankruptcy?

http://www.minyanville.com/investing/articles/bankruptcy-debt-chapter-7-13-individual/12/1/2009/id/25679?page=full

5. What is open-ended credit? Give one example. (use link on #6)

6. What is close-ended credit? Give one example.

http://www.wbsonline.com/resources/types-of-credit-closed-or-open-end/

7. What does IRA stand for AND what is it?

http://money.cnn.com/retirement/guide/IRA_Basics.moneymag/

8. Describe the following type of bank accounts:

Checking account-
Savings account-
Certificates of deposit (CDs)-

http://www.wisegeek.org/what-are-different-types-of-bank-accounts.htm

9. What is a mutual fund?

http://money.cnn.com/magazines/moneymag/money101/lesson6/index2.htm

Is it insured by the government?

http://www.sec.gov/investor/pubs/inwsmf.htm

MAKE SURE THAT YOU HAVE WRITTEN ALL OF THE ANSWERS. TURN IN YOUR PAPER WHEN YOU ARE FINISHED.

Monday, April 7, 2014

Credit Card Simulation

READ FIRST!!! THEN ASK QUESTIONS!!!

Today you will go through a simulation of using a credit card. You will look at several factors involved in signing up for a credit card such as fees and interest rates. Follow all directions and complete each step of the assignment.

1. Use your own sheet of paper and title the assignment "Credit Card Simulation".
2. First, use the financial dictionary (http://www.investopedia.com/dictionary/) to define the following terms:

credit card-
interest-
principal-
APR-

3. Open another tab or page and go to the following link: http://www.channelone.com/credit-card-simulator/
4. Select one of the three credit card choices.
5. Answer the following questions on your paper as you work through the simulation.

1. Which card did you select? Why?
2. Is there an introductory APR?
3. What is the fixed APR?
4. Which items did you buy on your shopping spree?
5. What is your minimum monthly payment?
6. How many months will it take you to pay in full?
7. Choose THREE of your items and tell me the following:
a) Original Cost
b) Interest Charges
c) Total Cost
8. If you doubled your minimum monthly payment, how many months would it take you to pay it off?
Answer the final question in AT LEAST 3 complete sentences.
9. Do you think that credit cards are a good idea or bad idea? EXPLAIN.

This will count as a quiz grade!! The more effort and work you put in, the better your grade will be!

Wednesday, March 19, 2014

Supply and Demand

Today you are going to look at different factors that create supply and demand. Follow each step and answer all questions on your own sheet of paper. If you have any problems please ask me for help. When you are finished please turn in your paper to me.

Introduction:

Access the following link; Supply and Demand

1. What is supply? Provide an example of supply.

2. What is demand? Provide an example of demand.

Part 1:

Access the following link; Supply and Demand of Oil

3. After reading the article, explain in your own words how supply and demand for oil is changing. Additionally, address what may be causing the increase in prices. At least 2 sentences!

Part 2:

Access the following link; Supply and Demand of College Football Tickets

4. After reading the article, explain in your own words, the supply and demand of college football tickets. At least 2 sentences!

Part 3:

Access the following link; Interactive Supply and Demand

Once you have read the information in regards to demand and supply, use Diagram 1 to answer the following questions listed under Get Interactive.

5. What would happen to quantity demanded in the following cases?

Price rises to 8.

Price rises to 9.

Price falls to 3.

Price falls to 1.

6. Scroll all the way down to the bottom of the page and click Part 2. Choose one of the factors affecting the level of demand from the drop down menu.

i. While moving the slider towards the + and -, pay attention to what is happening with price and quantity demanded. In your own words, describe what you are observing. What happens to the quantity demanded and the price?

Wednesday, February 12, 2014

Free Trade or Protectionism???

Free Trade vs. Protectionism

For today's assignment you will look at arguments for and against free trade and protectionism. Use the websites listed below to find the information you need to complete the handout. After you have looked at arguments for both policies, decide which of the two you think works better. On the back of your paper, in AT LEAST 3 complete sentences, tell me which policy you think is better and why.

Try the following sites to help give you some ideas on the arguments, or feel free to conduct your own search, just make sure your arguments are valid:

http://quizlet.com/14756749/arguments-for-protectionism-flash-cards/

http://quizlet.com/17710854/reasons-for-benefits-of-free-trade-flash-cards/

Thursday, January 30, 2014

International Trade

International Trade and Globalization Webquest

For classwork today, complete the questions below about the WTO and the IMF.

Hey Hey, Ho Ho! Why do we need the WTO?
www.wto.org

http://news.bbc.co.uk/2/hi/europe/country_profiles/2429503.stm

1. What is the World Trade Organization, (WTO)?

a. When was it created?

b. Why was it created?

c. Who are its members (in general) ? Who are the G20? (name them)

What is their role in the modern world? What do they do?

2. What is the International Monetary Fond (IMF);
http://www.imf.org/external/about.htm

a. when was it created?

b. Why was it created?

c. What does the IMF do?

d. How does it work?

e. What makes the IMF unpopular?