Create an economists Hall of Fame
with pictures and a short biography on such figures as Adam Smith, John Stuart
Mill, Karl Marx, John Maynard Keynes, Milton Friedman, Alan Greenspan, etc.
Pick an industry. Cut out pictures
or download from the Internet advertisements from this industry. Rate the
effectivemess of the advertisements.
Create a feudal manor. Include
the manor house, the farms, serfs, the lords, etc.
Write a business plan of a product
you think that doesn't exist and should be brought to market. Include how
you would raise money for your product, materials and labor that would have
to be involved, how you would advertise the product to consumers, etc.
Tape a commercial you think is
effective and one that you think is very ineffective. Compare and contrast
the commercials as far as why think it is effective or ineffective in selling
the product to consumers.
Pick a stock. Follow the stock
for two weeks on the Internet, the newspaper and on television. Graph the
ups and downs of the stock on a spreadsheet or graph paper and write a short
anaylysis explaining the variations in the stock prices.
Watch a segment of a business
news broadcast such as "Wall Street Week" on PBS, "Neil Cavuto"
on Fox News, any CNBC or MSNBC presentation. Rewrite the news so young people
can understand what was said.
Keep track of your expenses for
two weeks. Note how much income you take in as a result of allowance, chores,
gift money, etc.. Also note how you spent your money. What percentages were
spent on needs and on wants? What industries were you supporting with your
If this is comfortable for your
parents ask them to review with you your family budget. Note how much is spent
on needs, wants. Note whether your parents pay rent or have a mortgage on
your home. Note cost saving measures they use to keep expenses down.
Go over a federal income tax form
with an adult (short form) and write up how it works.
When watching television for a
length of time, note which show or shows you watched, how many commercials
there are, how long they last and note what products are being pitched. Tell
why you think advertisers picked that show for placement of its commercials.
Get a catalogue from a college
that has a major in economics or go to the college's website. What courses
must you take for a degree in economics or finance?
Interview a local business person.
Ask what their job is, what goods or services their company supplies, what
goods or services it requires and must purchase, if the company has a labor
union, how and where do they advertise their products or services, how big
their company is, does it offer stock, what education you must have to do
Go to a company's website. Rate
if for ease of use, information it offers including contact information, graphics.
Many times adults receive invitations
to obtain credit cards. Go over one of these carefully with an adult and report
what you learned.
Compare five countries and report
if they have had a trade surplus or deficit over the past several year and
what their major exports are. You may do this with pictures and words or just
Make a chart of the currencies
of different countries and how they compare in value to the dollar. This can
be done with a web or print almanac or by visiting websites on that country.
Many businesses today are totally
"dot.coms" that is, they only do business on the web, some do business
both on the web and in traditional stores, etc and some do not do business
or have a web presence. Write a report or make a graphical display of the
types of businesses that are totally on the web, those that are both and those
that are not and give reasons why you think they are in these categories.
Design a website for a pretend
business. Choose colors, graphics, to make your business appealing. Watch
spelling, grammar, etc. - you want your customers to think you know what you
Write a letter or email a business
for further information such as stock reports, brochues, etc. Analyze the
stock reports with an adult and tell what you learn.
Many websites are also businesses.
Tell the websites you visit most often - tell if they are businesses, why
you visit them and how often you visit them - which do you have bookmarked?
Hint: AOL, Disney, ESPN, Internet Explorer (Microsoft), Yahoo, etc.. are all
Some businesses are non-profit
or not for profit. Find out some businesses that are non-profit and tell what
goods or services they provide. Why are they called non-profit?
Besides the resources above, other
items consulted for this site...