How much would you like to earn????? Advanced Degree $54,600 Bachelor’s Degree $42,796 Associate’s Degree $30,940 High School Diploma $26,208 High School Drop Out $18,876

How much would you like to earn????? Calculate the lifetime earnings of each level of educational attainment using the table. Assume each person works until 70 years of age. Other assumptions include: The high school dropout begins full-time work at age 16. The high school graduate begins full-time work at age 18. The graduate of the two-year college begins full-time work at age 20. The graduate of the four-year college begins full-time work at age 22. The graduate with a master’s degree begins full-time work at age 24.

  High School Dropout High School Diploma Associate’s Degree Bachelor’s Degree Advanced Degree Annual Income $18,876 $26,208 $30,940 $42,796 $54,600 Years Worked Life Earnings What are some benefits for people who choose to further their education level? _______________________________________________________________________ What some opportunity costs people have when they choose to further their education level? What kinds of jobs do you wish to pursue? What education level is required for those particular jobs?

How much would you like to earn????? Calculate the difference in salary between the following from one year’s worth of work: ***a high school dropout and a high school graduate _______________________ ***a high school graduate and a graduate from a two-year college (associate’s degree) _________________________ ***a two-year college graduate and a four-year college graduate (bachelor’s degree) _________________________ ***a four-year college graduate and an individual with an advanced degree (master’s or doctorate) _______________ ***a high school graduate and a graduate of a four-year college graduate (bachelor’s degree) ____________________

Savings is income not spent now Savings is income not spent now. The accumulated amount of money saved over a period of time is called savings. Suppose there are 180 days in a school year, and you begin saving $2.00 each day in your bank beginning in the 7th grade. You save all the money each year. Your bank fills up and you start saving in an old sock. Calculate the amount of savings that you have at the end of each year. Record your answers for each year in the “SAVINGS” column of the table below. GRADE LEVEL SAVINGS 7th grade __________________ 8th grade __________________ 9th grade __________________ 10th grade __________________ 11th grade __________________ 12th grade __________________

Interest Suppose that on the first day of eighth grade you receive the following message from Uncle Mort. “I am proud that you’ve been saving. I will pay you 10% on the balance that you saved in the seventh grade and 10% on the balance of your saving at the end of each year.” You have $360 in your bank. Calculate how much money you will have at the end of each year. Write your answers in the “SAVINGS” column in the table below. GRADE LEVEL SAVINGS 7th grade __________________ 8th grade __________________ 9th grade __________________ 10th grade __________________ 11th grade __________________ 12th grade __________________ How do the amounts you’ve calculated compare to your previous savings calculations? Why?

My Factory PICTURE OF YOUR FACTORY Where will you get the capital to start your factory? Where will your factory be located? Why would this be a good place for trade? What currency do they use there? Will trade barriers or free trade affect you there? PICTURE OF YOUR FACTORY

My Factory What products will you create? What machines or technology will you use in you factory to create your product? What human capital will your workers need? What natural resources will you use? Where will you get them?

My Factory Where will you sell your products? List the ways how will you market [advertise] your products List 2 ways to transport your products. Do you have any other ideas for your factory?

Create a vocabulary game with the following words: Credit Debit Profit Income Investing Saving Spending