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