Microeconomics Extra Credit Opportunities
YOU MAY CHOOSE UP TO 4 EXTRA CREDIE ASSIGNMENTS TO COMPLETE.
ALL EXTRA CREDIT MUST BE TYPED IN TIMES NEW ROMAN, 12 POINT, and MARGINS
1” ON ALL SIDES. YOUR NAME, CLASS PERIOD, & TITLE OF THE EXTRA CREDIT MUST
BE AT THE TOP OF EACH ASSIGNMENT.
#1) DEMAND
Petroleum and petroleum products are important to our every day lives. Find out how much oil is
demanded by United States each month and how much is demanded by one other country each
month. Make a comparison of the two and also determine if this demand is elastic or inelastic. Then
find one way each country is trying to develop alternative sources of energy and present all of the
information. It can be in written format, verbal format, or technological format or creating a public
service ad
Websites that may help you can include charts on world oil supply and demand, oil and natural gas, and
crude oil price analysis.
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#2) SUPPLY
Throughout history artists have looked for support from government and private patrons. Determine
what effect government and private donors to the arts have on the supply of arts in culture in this
country. Using the National Endowment for the Arts describe two national initiatives that help to
support the arts in our country.
This information is to be present in a written or visual format that can include the use of PowerPoint.
#3) CHANGES IN MARKET EQUILIBRIUM
Visit the website ShopTheNet.org (The Smart Shopping Resource).
Search costs are continually dropping as computers and the Internet make searching easier and
easier. Choose 3 items you plan to purchase within the next six months and find the best price using the
Internet. Create a “sales flyer” informing consumers where you found the products, the best price of each
product, and how they can purchase the products.
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#4) THE ROLE OF PRICES
Visit the The Mideast Oil Crisis website.
The gasoline crisis of the 1970’s is one of the most memorable supply shocks in recent history. Found
out why did it happen and how did it affect people’s lives. This information can be obtained in a variety
of ways including speaking with people who experienced the shortage. Currently the price of gas has been
fluctuating but with rising prices. Research to determine why you think the price of gas has increased so
drastically and how it is affecting people’s lives. Compare these two events and write a page summary
discussing these two events.
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#5) WAGES
Find ten of the highest-paying and ten of the lowest-paying full-time occupations in the United
States. Create a bar graph to display this information and write a summary on the relationships between
jobs, salaries, and education levels.
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#6) BUSINESS ORGANIZATIONS
Choose a partner and determine a business you both would like to form a partnership. Research to
determine what’s necessary to start your own business as you answer the basic economics
questions. Develop a summary of what type of business, what kind of partnership you would have, and
how you plan to start up your business. You will also need to create a motto and a logo for you business.
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#7) MONEY AND BANKING
Visit What is a Dollar Worth? at the Federal Reserve Bank of Minneapolis web site.
Think of the cost of three products you have purchased recently. Follow the directions on the site to find
out how much it would have cost to purchase those same products in 1930, 1950, 1976, 1999 (when Mrs.
Washburn was a high school senior), 2014, and determine how much these items would have cost the year
you were born.
Then using the mathematical formula from this same website under the section determining Consumer
Price Index and inflation rates, determine the rate of inflation from 1908 to 2008. Present the findings
in a visual organized format that can include a chart, graphs, or other visual method.
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#8) LABOR
Visit the Yahoo Careers web site.
Choose three different professions you think you may want to pursue in the future. Use the website to
compare the salaries between the different professions you have chosen. Then compare earnings from
these professions in three different locations in the country using the Salary Calculator feature on the web
site. Present this information in a visual format that can include poster, handouts, PowerPoint or another
type of visual format of your choice.