Upcoming Test, Charts, and Current Events

We have a test coming up in the near future.  I will be asking you questions about PPF charts and questions such as:

• What do economists mean by "efficiency"?
• What are the "Factors of Production"?

I will also be asking you to identify items in various types of graphs:

For Example: How much more per year should you expect to make with a Bachelor's degree than if you only had a high school diploma?

Some current events involving economics:

The Fall of the Dollar as the World's Primary Reserve Currency:
http://www.moneynews.com/EdMoy/dollar-reserve-currency-economic/2014/07/23/id/584482/

How ISIS is exploiting the economics of Syria's Civil War:
http://www.vox.com/2014/6/12/5802824/how-isis-is-exploiting-the-economics-of-syrias-civil-war

Will Burger King move corporate offices to Canada?:
http://nyti.ms/1mFSS51

Yes, I paid $8.44 for a Diet Coke:
https://www.linkedin.com/pulse/article/20140823150555-20017018-yes-i-paid-8-44-for-a-diet-coke-the-ethics-of-pricing

The Economics of Having Babies

Even Sims Have Flour Babies!

This Research Project is due on Tuesday, 3/24 -- the day that you are required to bring your fully decorated, dressed "baby" to school for the first time.  We will do our first "Well Baby Checkup" on that day, then discuss the findings from your research on the topics below.  You will have Friday and Monday to research and compile your answers.

Open Microsoft Word and begin compiling information:
(Include links to online price sources)

UP FRONT COST:

• Prenatal Care: Including tests, diagnostic ultrasounds, doctor charges for the nine months of pregnancy. (Call physicians office)
• Prenatal Vitamins: Check Walmart, Kmart, or a local pharmacy for prices.
• Hospital Charges: Labor/delivery and anesthesia charges. (Call hospital)
• Pediatrician Charges: Well/sick visits and all immunizations. (Call pediatrics or physicians office)
• Nursery / Equipment: Crib, high chair, stroller, infant car seat, booster car seat, diaper bag, bottles, pacifiers, toys, baby/child-proofing supplies, diaper rash cream, wipes, shampoo, etc.

DAILY COST:

• Disposable Diapers (Kmart, Walmart).  Compare the same sizes from both stores and make a note of how many diapers are in each package.  Calculate how much each diaper costs and find an average price per diaper.
• Figure out how many diapers per day a baby uses (BabyStory, KidsGrowth, Babblesoft) -- Newborn / 1-3 Months / 4-6 Months / 7-9 Months / 10-12 Months.  Using the cost per diaper (above), how much will it cost per day (for each section) to diaper a baby.
• Figure out approximately how much [in ounces] baby formula a baby should use per day (BabyCenter) for a 6 pound baby / a 10 pound baby / a 15 pound baby / a 20 pound baby / and a 24 pound baby.  Compare that to the estimates for a Newborn / 2 month / 4 month / 6 month baby (KidsHealth).  On average, how many ounces (approximately) does a baby need each day?
• To prepare formula, you will mix one ounce of powdered formula with two ounces of water (to make 3 ounces of formula).  You will need to divide the total formula needed per day by 3 so you know how much powdered formula you need to buy.  Check out Amazon.com and find a good price for baby formula -- you might want to figure out the price per ounce to find the best bargain.  How much does each ounce of powdered formula cost?  
• How much is "baby food" (peas, carrots, applesauce, etc.)?  When do babies typically begin eating baby food instead of just breast milk or formula?  How much do they typically eat [up to one year old] per day?  What about "baby cereal"?
• What is your DAILY cost of a baby so far?  Add average costs of diapers, formula, wipes, baby food, cereal, etc.

ANNUAL COST:

• Annual cost of formula.
• Annual cost of diapers.
• Annual cost of baby food, cereal, etc.
• Approximate annual cost of baby clothes, shoes, coats, etc.
• What was your "Up Front Cost" (above)?
• What was the total cost of having this child for one year?

OTHER COSTS:

• Imagine that you are a single parent and you decide to take three months off work to have the baby and get him/her started.  Now your savings account is about empty and it's time to return to work.  How much will it cost to have your child in daycare/babysitting each day?  Each week?  For the next 9 months (about 270 days)? 
• What other costs might be involved in having a baby for a year?

GETTING HELP:

• What is WIC?  Who qualifies?  How can they help?
• What other resources are available for parents who need help being parents? 

Beginning the Baby Project

Today we will be getting started with the Baby Project:

• Complete and turn in the Baby Costs project.
• Get your flour/sugar/masa/rice baby ready by making sure...

• it gets signed by Mr. Griffith.
• it has a face.
• it is dressed/protected.
• it is in a car seat with a restraint.
• Our first "well baby checkup" is today.
• You will be posting an entry on your Baby Blog Monday.

Remember some of these important items:

• If your baby becomes a distraction in other classes, you will lose points.
• If you receive reports of "endangerment", "abandonment", or "abuse" you may be assigned extra assignments -- mostly essays.
• If you need to leave your baby for any reason (work, sporting events, etc.) you need to secure child care at the rate of 50 cents per hour.
• If you drop, damage or break your baby -- come to me ASAP.

Good luck!

Ultrasound Tech: Baby Gender

You recently realized you were going to be having a baby, and you've been doing your best to prepare yourself.  You've begun the process of doctors visits, buying prenatal vitamins, and getting exercise.  Now it's time for your ultrasound -- and finding out what the sex of the baby is.

I will be the "ultrasound tech" and I will run the check to determine what it is you're having.  I'll be using a computer program written to give you very similar odds should you experience an actual pregnancy.  There's approximately a 50/50 shot that you'll either have a boy or a girl.  But it's important to remember that approximately 1 in 30 pregnancies is twins -- and 1 in 720 pregnancies is triplets.

The "spinner" I use will determine whether you're having 1, 2 or 3 babies -- and what gender(s) the babies will be.  I will write the list down on the roll sheet and you can then begin preparing for the babies we will have -- our "due date" being 3/24.  You will be going into labor on 3/21 (when you bring your materials in) and preparing over the weekend and bring the babies to school on 3/24.

Extra Credit Assignment: Flour Baby Project

I just wanted to give you all a "heads-up" that the "Flour Baby" / "Sugar Baby" / "Maza Baby" project is coming up next week.  You will build "babies" that you will carry with you for the entire week as if it was your actual child.

All materials are due in class by FRIDAY, March 6th.  If we are not here on Friday, you will need to bring them on Monday, 3/9 fully ready.  You will need to collect a few things by then:

• First and foremost, a 5-10 pound sack of sugar, flour, or maza (corn meal).  Checking in at a couple stores, I saw 5 lb. bags of sugar and flour for about $2.39.  If you care for your "baby" well enough, you can still use the flour or sugar when you are done with the project.

• Next you will need to bring a color picture to use as the "baby's" face.  You can find them in parenting magazines, advertisements, or on the Internet.  Try a Google Search (example) and print them on a decent color printer.  You can use some time today to look for these.

• You will also want to bring something to clothe the baby in.  I recommend a cheap "onesie" that you can pick up at a garage sale, a thrift shop, etc.  You may even know someone with a baby who has some old clothes they want to get rid of.  (Extra credit if you can bring extra's for your classmates)

• You will need a basket, car seat, stroller, sling, or other baby carrying device.  If you don't want to hold the baby all day during school, you will want something that you can sit quietly under [or along side] your desk.

• One diaper [unused].  We will go over the basics of diapering your "baby" in class.  If you are not familiar with the difficulty of disposable diapers, you may want to bring an extra.  (Extra credit if you bring extra's for your classmates)

Here are a couple examples from last year that I really liked -- the "parents" of these babies were a couple so their babies became "twins":

• Optional:  Items to decorate your "baby" such as doll arms/legs, pacifier, baby blanket, markers, construction paper, etc.  Here are a few examples of creative approaches to this project: