Watkins

Economics

Point Possible: 100

Late Projects: 10% deducted per day late (if you will be absent, send your project to class with someone else).

You are on your own. Now must now begin to organize your new life. This report will reflect constant economic decision making regarding opportunity costs and values.

Create a person you would like to be with a BA or BS degree, who has just graduated from college and has no practical experience, OR graduated from high school with four years of job experience. You may choose the occupation to research, but all occupations must be approved by the teacher. Find a job using resources like Choices 2000 (available in the library), the classifieds or personal research. Support your salary by attaching your printout showing job description and salary, or attach an ad from the classified pages, or a letter from a firm who would hire you. Income may not exceed $50,000 a year.

You are truly on your own. You are still owner of your current personal property that you have purchased but you can expect no financial help from any of your relatives. In other words, there is no mooching from your folks! Not even laundry services or food!! You may not borrow money!!!

The project is divided into two sections: Research and Narrative.

Research will consist of finding a job, arranging housing, paying utilities, buying a car, insurance, and other needs. Also you have leisure time and entertainment interests. All research must be supported by ads, signatures, brochures, telephone journals, letters, and in class planners. Some costs may be shared with a roommate.

Research must include, but is not limited to, the following:

Salary Calculations

Job description

Budget

Housing, (two bedroom if shared) attach ad

Food (one months plan in detail - list prices of goods and eating out costs)

Transportation (Car payments, insurance, gas, oil, repairs, licenses, and auto club)

Utilities (Telephone, Gas, Electric, Water and Trash, Cable)

Insurance (Car and medical)

Entertainment (gyms, recreations, movies, videos, CD’s, dates)

Clothes ( purchases and cleaning)

Hobbies and Incidentals (cosmetics, hair care, subscriptions, pet care, charities, church, gifts, etc.)

Monthly payments (refrigerator, furniture)

Vacation, travel (future planning)

The Narrative will consist of a first person summary of your research and your life on your own. This typed portion should be approximately 3-5 pages in length and follow the following outline:

A. Basic personal information (Who are you? What are you doing? What skills do you have?)

B. Career Information

C. Overview of research

D. Lifestyle

E. Summary of what your discovered or learned. Discuss priorities, surprises, and opportunity costs.