Project #2 Assignment

Econ Project 2: There’s No Business like Your Own Business!

For this project, we are asking you to design a business with a group of your peers.  You may work in groups of 2-3 with people from your same class period. For this first portion, you will create a business that sells a unique, new product.

Step One: Design your Business

·        Write a business proposal.  Include the parts below, at minimum.

o   What will you make?  Decide what your main product/product line/service will be.  Describe what you will sell and who your potential customer is.  Include a drawn/designed mock-up of what your product will look like, or description of how you will train your employees

o   Figure out what type of business you will have.  Explain in at least a good paragraph why the type you chose is the most desirable.

o   Where will your capital come from?  How will you raise the money?

o   Where will you be located?  Choose a place in Cobb County where you feel you will be most successful.  Why is that building/location a good fit for you?  If you wanted to expand, how would you do it – add on to the building, take over next door, or start a 2^nd location?  Why?

·        Write a letter asking for money to start your business.  Describe your company and your business plan.  Why are YOU worthy of their money?  What will they get out of it?  Why is your company a good, safe investment?

·        FORMS!  You need to be official!  Go to the Cobb County Government Website, and complete the forms listed below.  You should print them out and neatly write on them in blue pen.

o   (http://comdev.cobbcountyga.gov/apps-downloads-permits.htm#busness-reg )

o   Affidavit Verifying Status

o   Occupational Tax form(s) that fits with your type of company – see me if you need help deciding which

o   Sign Application (complete form and requirements #1-5)

Step Two: Advertise your Product!

·        Create 4 Advertisements for your business/product line.

o   Design a billboard.

o   Create 2 print advertisements that could go into a magazine or newspaper.

o   Record a 30-second radio or TV commercial (your choice which, include a script either way)

·        For each of the 4 advertisements, describe your target audience, where the advertisement will be shown/heard/printed, when it will run, etc.

Step Three: Present your work in Class

·        Prepare and present an oral presentation of your business to the class, including viewing the commercial and seeing at least one of the print advertisements. Treat us like potential investors: Why are you the next great American company?  Why should we want to invest with you at the beginning?

·        All group members must participate.

·        The presentation should last 8-10 minutes.

Step Four: Turning Everything In

·        All parts of your project should be typed, single-spaced and bound together in a notebook or folder.

·        All parts should be completed fully, with good, detailed answers.

·        Written parts of the project are due March 7^th at the start of class.

·        Presentations will happen March 7^th and 8^th in class – we will sign up for times on Feb. 21 in class.

Week 7 Schedule

Honors Economics – Week 7 Schedule

19	Project #1 Due, Types of Business intro and clips
20	Project #2 Intro and Workday
21	Project #2 Workday
22	Chapters 8-9 Quiz, Labor I

A few reminders:

·       Your Project #1 is due on Tuesday 2/19.  Please don’t leave it to the last minute to get started!

·       We will start Project #2 on Wednesday and Thursday.  The written portion will be due at the start of class on 3/7, and groups will present on 3/7 and 3/8.

Project #1

Economics Project #1:

Choose Your Own Adventure – Inspecting the Economics Around You!

·        Pick Your Path:

o   Choose two things to do.  You will either complete the 2 tasks on the same row as each other or diagonal from each other. 

o   You may NOT choose a “vertical line”. 

§  So, choose tasks A1/A2, OR A1/B2, OR B1/A2, OR B1/B2… NOT A1/B1, NOT A2/B2.

·        Start early!  This CANNOT be done successfully the night before it’s due.

·        Everything should be typed, single spaced, and well-executed.  Proof-read your work! 

·        Think about how you will execute this – Is a chart appropriate to show data?  How will you use the pictures you took?  Would a transcript of your conversation be appropriate, or at least a list of questions?  Did you include names, addresses, and contact information as appropriate?

·        ASK if you have questions!  I’m happy to proof-read, brainstorm, or otherwise help in any way you need.

EVERYTHING IS DUE AT THE START OF CLASS ON FEBRUARY 19^TH!

	Task 1	Task 2
A	Do you know what you REALLY spend? ·   Compile a record of your economic activities for at least 10 days.  Keep track of what you earn in income or get from another source (like your parents, birthday presents, found a quarter, borrowed a dollar, etc.).  Also keep track of what you spend – look at it in various categories that make sense for your budget.  ·   Then, write an analysis of your spending habits – how are you doing?  Are you spending too much in a certain category?  Is there a place you could modify your spending habits to make things easier?  If a big purchase suddenly popped up, how could you afford it?	Meet and interview a small business owner! ·   Ask questions that are relevant: what the business does, how it got started, what the owner did before they started the business, what’s hard and easy about it, the impact of the recession, future prospects, etc.  (the specifics will be different depending on what you pick.) ·   Take a picture with him/her and get their contact info so I can send them a thank you note!  (email is best!) ·   Then write up what you learned.  What’s unique about their story?  If you were going to start a business, how could you apply their experience to your endeavors?
B	Have you planned for next year? ·   Prepare a detailed budget for your freshman year at college.   (if you haven’t made your final selection yet, pick your dream school!) ·   How will you spend money?  What will be the cost of tuition, books, lab fees, food, room, clothes, car, gas, insurance, travel, entertainment, club/sorority dues, etc? ·   Where will you get money?  Do you have savings?  Will your parents help? How often?  Will you have a job?  Where?  What does it pay? ·   If a big purchase suddenly popped up, how could you afford it?  What do you expect to be easy about this budget?  What will be hard?	Are “inferior goods” really inferior? ·   Pick 3 different stores near your home that sell similar products and visit each one!  Take a picture out front and then proceed inside to do your research. ·   Compare the “name brand” to that of the generic version of 8 products at three different stores.  (ex: Cheerios vs. the Publix-brand knock-off at Publix, Cheerios vs. Kroger’s generic version at Kroger, Cheerios vs. Wal-Mart’s generic version at Wal-Mart.).  Compare price, ingredients, nutrition info, serving size, packaging, etc. ·   Then, compare the prices of these 8 goods at three different stores (ex: price of Cheerios at Publix, Kroger, and Wal-Mart, and price of generic cereal at the same 3 stores).  ·   Analyze your findings… Are certain products more affordable at one store?  Are the generics always a better deal?  Where would you shop to get the best overall deal?

Week 6 Schedule

Honors Economics – Week 6 Schedule

11		HW & Quizzes Back, White board review
12		Unit 2 Essay
13		Unit 2 Test
14	WEB	Freakonomics
15		February Mini-Break

A few reminders:

·       Your project is due on Tuesday 2/19.  Please don’t leave it to the last minute to get started!