Below are some links to more information about economics on the Internet. Below the links are some activities you may wish to do for fun and extra credit!
- FACS Journalists Guide to Economic Terms
- Museum of American Financial History
- STAWRS Kids (US Treasury Department)
- The Mint
- 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 analysis 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 purchases?
- 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 his/her job.
- 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 with words.
- 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 are doing.
- 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 businesses!
- 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…
Economics by Robert Heilborner
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