Review of the Federal Reserve and how it relates to unemployment and inflation. Discussion of Sustainability and the importance of Corporate Responsibility- Introduction to Consumer Behavior and how it affects Consumption Patterns including Marketing's integral role in Business.
Assignment
N/A
Session Minutes
45
Minutes Student Attended
45
Lesson Comments
Cameron has a good understanding of a very basic business plan model. He was enthusiastic when I began discussing Consumer Bahavior and how Marketing ties into all Business aspects.
Sources of information on how economy affects a certain industry
Lesson Outline
We reviewed one source of information on how a business would learn about how the economy affects the industry in which the business operates. The we examined the Midterm 1 information sheet.
Assignment
20 minutes a day studying Midterm 1 review sheet concepts
We viewed interest rate behavior on FRED (Federal Reserve Economic Data) site and Cameron did an excellent job calculating interest owed on a loan using two different interest rates.
Economic indicators important for a business person to know were introduced and shown on FRED (Federal Reserve Economic Data site of the St. Louis Fed).
As we move to discuss how business fits into the economy, we discussed scarcity of resources and how the U.S., as a mostly capitalist economy, decides what to produce with those resources.
Assignment 7 required a comparison of Sole Proprietorship and Corporations. At the end of the Assignment, Cameron decided he preferred to work at a smaller company compared to a larger corporation based on questions in the assignment.
We had an excellent discussion of an ethical dilemma involving Quiznos' treatment of its franchisees. Cameron then wrote out responses to ethical questions pertaining to the Quiznos' case study.
