topic 4 - the individual as producer, consumer and borrower topic 5 - the private firm as producer...
TRANSCRIPT
Topic 4 - The Individual as Producer, Consumer Topic 4 - The Individual as Producer, Consumer and Borrower and Borrower
Topic 5 - The Private Firm as Producer and Topic 5 - The Private Firm as Producer and EmployerEmployer
MOTIVATING STUDENTS TO LEARN MOTIVATING STUDENTS TO LEARN ECONOMICS IN SECONDARY SCHOOLSECONOMICS IN SECONDARY SCHOOLS
Conducting InterviewsConducting Interviews
collect real data and develop their research skills
improve their communication skills
be able to practise social etiquette
When conducting interviews, students will: When conducting interviews, students will:
Students to brainstorm possible questions Students to brainstorm possible questions to askto ask
Teacher to go through the suggested Teacher to go through the suggested questions and help refine themquestions and help refine them
Students to prepare a form to record the Students to prepare a form to record the data collected data collected
Some suggestions on conducting Some suggestions on conducting
interviewsinterviews
Students to rehearse the process of Students to rehearse the process of interviewing in class firstinterviewing in class first
Some suggestions on Some suggestions on conducting conducting interviewsinterviews
- start by introducing themselves and explaining the - start by introducing themselves and explaining the purpose of the interview purpose of the interview
- inform the interviewee as to how long the - inform the interviewee as to how long the interview will takeinterview will take
- describe briefly what type of - describe briefly what type of informationinformation is required is required
- ask the prepared questions - ask the prepared questions
Some rules to remember:Some rules to remember:
be polite at all times, even when people be polite at all times, even when people refuse to be interviewedrefuse to be interviewed
be fair, e.g. do not laugh or try to influence be fair, e.g. do not laugh or try to influence the intervieweethe interviewee
thank the interviewee at the end of the thank the interviewee at the end of the interview interview
Conducting InterviewsConducting Interviews
Data is required on the following:Data is required on the following: Personal information (e.g. name, Personal information (e.g. name,
age, marital status)age, marital status) Type of occupationType of occupation Reasons for choice of occupationReasons for choice of occupation Ranking of reasons (top 3)Ranking of reasons (top 3) Income per monthIncome per month
Brainstorming the QuestionsBrainstorming the Questions
What questions can
we ask?
Let the interviews begin!
What did we find out?What did we find out?
Look at the reasons.Look at the reasons.
Can you categorise them?
Factors affecting an Factors affecting an individual’s individual’s
choice of occupationchoice of occupation
Wage factors
Non-wage factors
Who earns the most?
Social Worker
Social Worker
General ManagerGeneral Manager
Manufacturing Labourer Manufacturing Labourer
Computer EngineerComputer Engineer
How much do they How much do they earn?earn?
How much do they earn?How much do they earn?
Computer Engineer S$4,165Computer Engineer S$4,165
Social Worker S$2,200Social Worker S$2,200
General Manager S$11,071 General Manager S$11,071
Manufacturing Labourer S$1,073Manufacturing Labourer S$1,073
What do other stats
say?
Why are there differences in earnings?
Let’s share our ideas!Let’s share our ideas!
What do people do with their earnings?
Consumer spending, saving Consumer spending, saving and borrowingand borrowing
Students can carry out interviews to Students can carry out interviews to find out more about how people find out more about how people spend/use their earningsspend/use their earnings
They can also collect data by They can also collect data by recording their own and their family recording their own and their family members’ spending, saving and members’ spending, saving and borrowingborrowing
1.1. According to the traditional theory According to the traditional theory of of
the firm, the profit maximization the firm, the profit maximization point point
is where ____________.is where ____________. A. TR = TCA. TR = TC B. AR > ACB. AR > AC C. MC > MRC. MC > MR D. MR = MCD. MR = MC
$
0
P1
A
C
B
2. What does the shaded area 2. What does the shaded area represent?represent?
3. Which one of the following does 3. Which one of the following does not not
affect the demand for an input? affect the demand for an input? A. The price of a substitute A. The price of a substitute B. The demand for the final B. The demand for the final
product product C. The organisational structure of C. The organisational structure of the firm the firm D. The time frameD. The time frame
4. True or False?4. True or False? All inputs are variable in the All inputs are variable in the
short-run.short-run.
5. A perfectly-competitive firm is a 5. A perfectly-competitive firm is a price-_____________. price-_____________.
Reasons for the different sizes of Reasons for the different sizes of firmsfirms
Get students to research on the history Get students to research on the history
and growth of these big firmsand growth of these big firms
Main reasons for the different Main reasons for the different sizes sizes
of firmsof firms
Different business objectives Different business objectives Size of the marketSize of the market CapitalCapital External growthExternal growth OrganisationOrganisation
Horizontal IntegrationHorizontal Integration
Primary
Secondary
Tertiary
Soft Drinks Manufacturer
Confectionery Manufacturer
Vertical IntegrationVertical Integration
Primary
Secondary
Tertiary
Dairy Farming Co-operative
Cheese Processing Plant Vertical
Integration Forward – acquisition takes place towards the market
Vertical IntegrationVertical Integration
Primary
Secondary
Tertiary Retail Stores
Manufacturer
Vertical Integration Backwards – acquisition takes place towards the source
http://www.bized.ac.uk/learn/learn.htm
Get It Right!Get It Right!
InterviewingInterviewing Handling real dataHandling real data Circle of KnowledgeCircle of Knowledge QuizQuiz Simple calculationSimple calculation 4 Corners4 Corners Rotating rolesRotating roles
Activities & StrategiesActivities & Strategies