You and the Economy Classroom Based Assessment CAGE

You and the Economy Classroom Based Assessment CAGE 2007 - 08

Overview o o o o What is a CBA? Review Page 4: Directions to Students Review Page 5: Scoring Rubric Review Page 9: Career Organizer Review Page 12: Annotated Bibliography Review Page 17: Suggested Resource list Timeline/due dates

Section 1: Select careers o Select three careers you are interested in using: www. careercruising. com o Id: shelton o Password: career o Complete handout (p. 9) on best career choices. o Choose one career that you will base your CBA on. o Write Section 1 of your paper.

Three Career Choices Go to Careercruising. com and explore careers that interest you. Search for careers based on a variety of criteria. In the career selector box you can find careers by Earnings, working conditions or even school subjects. Choose three careers That Interest You: ü Title of Job ü What do they do ü How much do they make ü What training is necessary ü What are two related jobs ü Interviewers view of the future in this career

Example: Carpenter o Job description: Carpenters construct buildings, furniture, etc. from wood and metals. Skilled at building from beginning to end from plans or blue prints. o Income: $33, 000 - $56, 000 o Training: Apprenticeships, on-the-job training or carpentry and drafting classes. o Related Jobs: Architect, General Contractor o Future: Demand could decrease due to mass production of wood products, poor economy could cause reduction in new construction, concerns about environment could require new training and technology.

Section 2: Impact on local, national, and/or global economy o Using sources such as those included on page 17, research the impact your chosen career(s) will have on the local, national, and/or global economy. o Complete the graphic organizer “Impact on the Economy. ” (P. 9) o Write Section 2 of your paper, evaluating how your career choice(s) impact the economy with specific, supported examples

Example: Impact of Carpenter on the local economy Timber Industry: Logging, Scale, trucking, etc. Increase amount of homes available in county = growth Retail Sales: Lumbermans, Miles Sand Gravel Carpenter More people spending more money at Mc. Donalds and DQ More Tax Revenue for Mason County Revenue for local businesses like Roof Doctor.

Gathering information Search: Construction and the national economy http: //realtytimes. com/rtmcrtop/home. htm Realty Times The Economic Impact of Housing by Lew Sichelman It is well known that home ownership is important to the fabric of our society. But what may not be so well known is the importance housing has on the economy. Not only is it a key engine of national gross domestic product, it creates jobs at the local level, boosts tax revenues for state and local governments and increases sales for all kinds of businesses. According to the National Association of Home Builders, investment in housing -- that is, the creation of new subdivisions and apartment communities -- accounts for 4. 3 percent of GDP. And housing sector consumption -- expenditures for housing such as monthly payments and utilities -- was responsible for 9. 7 percent. That's a total of 14 percent, a share that "has varied little over the past 50 years, " says Kent Conine, a Dallas builder and first vise president of the 205, 000 -member trade group. But that's not all, according to Kent Colton, a senior scholar at the Harvard Joint Center for Housing Studies, who adds that if you include all spending for furniture, appliances and the like, housing's share of GDP is something on the order of 22 percent. At the local level, a positive economic impact is felt even before the first shovel hits the ground, and it continues for as long as the house is occupied by a household purchasing locally produced goods and services. NAHB's computer model estimates that the construction of 100 singlefamily homes generates $10. 7 million in new income to local businesses and workers in the year the house are built. And every year thereafter, they produce $2. 9 million in income. Building 100 new houses creates 257 jobs in the community where they are located and 75 jobs every year thereafter in support of the families who eventually occupy them. In 10 years, says Conine, the local impact is valued at $37 million. Building 100 apartment units doesn't generate as many jobs or as much revenue, but it still has a positive impact. It produces $5. 2 million in local income during the year of construction and $1. 8 million each year afterwards, for a total of $23 million over a 10 -year period. As far as work is concerned, building 100 multi-family houses creates 122 jobs during construction and 46 jobs every year thereafter. Conine and the NAHB also point out that the impact of building houses reached "far beyond" the construction sector into all phases of the economy. Local governments realize new revenue as not only builders expand pay taxes but so do the various and numerous businesses which serve the growing population. The big trade group, whose 205, 000 members employee something on the order of 8 million people, figures that over a 10 -year period, building 100 houses generates additional taxes and other revenues of $5. 4 million. For 100 apartments, the total is $3. 7 million. And of course, local government spends what it takes in from all this activity on new schools, new parks, police and fire equipment, pay raises and the like. Published: March 13, 2002 Copyright © 2007 Realty Times. All Rights Reserved Get this information from contact us information Realty Times 5949 Sherry Lane, Suite #700 Dallas, TX 75225

Example: Impact of carpentry on the national economy Increased production of industrial tools Transportation: Moving Goods between states State that is growing, draws more people and $ Carpenter New home = revenue for household goods produced Increased employment opportunities Gross domestic product increase for total output of goods and services

Example: Impact of carpentry on the global economy Increase in export of our natural resources Export of skill via Peace Corps Carpentry Trade Increase (tools, wood products)

Section 3: Investment in Human Capital o Human capital: Knowledge and skills, acquired on the job or through training and experience, that increase the employee's value in the marketplace. 1 o Opportunity cost: The cost of passing up the next best choice when making a decision. For example, if an asset such as capital is used for one purpose, the opportunity cost is the value of the next best purpose the asset could have been used for. 2 1. www. econoedlink. org 2. www. investorwords. com

Section 3: Investment in Human Capital o Identify the costs associated with securing a job in your chosen career path: n n n Education or Training Equipment Professional Development Dues or Fees Other? o Complete graphic organizer “Investment in Human Capital. ” (P. 9) o Write Section 3 of your paper.

Example: Investment in human capital needed for carpentry o Training: Initially start with on-the-job training or apprenticeship at a lower pay scale, as your skills increase your pay increases. o Equipment: Carpenters may start with a hammer and tool belt, but eventually an outlay in power tools and even heavy equipment will increase profits. o Professional Development: Keep abreast of new developments in building industry i. e. , Green homes, solar power, etc. by reading trade journals, attending conferences and working with master builders. o Dues: Union workers earn more pay and usually have better benefits but are required to pay dues. If self employed you will also need to invest in health insurance.

Section 4: Explain how laws or customs may affect your career choices o Using sources such as those included on page 17, research how laws or customs affect your chosen career(s). o Write Section 4 of your paper, using specific, supported examples. o Complete Graphic Organizers “ Effects of Changes in Laws/Customs. ” (P. 9)

Example: How laws/customs affect carpentry o In Washington: Growth Management Act. Mason County was out of compliance with regulations and as a result, permits were limited, causing a stall in growth of housing developments. o Environmental impact concerns could require the building of homes, using alternative power or advanced septic systems.

Conclusion o Write a conclusion to your paper. o Make sure you have used in-text citations following MLA format. o Revise and edit your paper using the scoring rubric as a reference point. o Type your final draft. o Attach your annotated bibliography. o Turn in your CBA on May 6, 2008.