Directions: Choose one of the following projects to complete in its entirety to replace any low test grades.

Circular Flow Model Group Project - In Person Option Only

SSEMI1) The student will describe how households, businesses, and governments are interdependent and interact through flows of goods, services, and money.

Illustrate by means of a circular flow diagram, the Product market; the Resource (factor) market; the real flow of goods and services between and among businesses, households, and government; and the flow of money.
Explain the role of money as a medium of exchange.

Assignment

Students will design their very own Circular Flow Model that visually demonstrates the basic concepts of Microeconomics. Each person is responsible for one poster board diagram or any other “outside the box” model that shows in detail the flow of goods and services between and among businesses, households, and government; along with the flow of money. The student will present their project to the class and describe the process. Students may use the Economics Textbook, the Internet, and any other reference tool available to find the information. Students are encouraged to utilize the Media Center, computer lab (class), old magazines, or any other materials as pictures or models to illustrate the Circular Flow Model. Above all else, be creative and put effort into this project!

Opportunity Cost in Business (The Real World)- Virtual or In Person Option

Directions: Seven Flags Amusement Park has hired your firm to design its new amusement park. The owners are looking for the right mix of amusement that will maximize their profit.

Your instructions from the owners:
1. You must decide which rides should be included from the list provided.
2. The amusement park must not be any bigger than 20 acres.
3. Each ride will require a minimum amount of acreage. This is listed next to each ride.
4. You must decide which rides will make the cut and which rides will not.
5. Design the layout of your park using a sheet of graph paper.

a. Plan your 20 acres before drawing on the graph paper. Remember, 1 acre= 64 Squares (an 8x8 square or some combination that equals 64). So, a half-acre will equal 32 squares….and so on.
b. Once you’ve decided what will be included, draw your park. You may include walkways and anything else you feel is necessary for the operation of your zoo, but these areas do not count towards your 20-acre maximum. The 20-acres are for the rides only.
c. Please write what type of ride and the acreage used. You may name your ride as well. For instance, if I chose a Ferris Wheel, I will map out 1 acre and write “Ferris Wheel, “1 acre,” and the name I chose, “Wheel of Doom,” on my map.

6. Once you have completed the park, answer the following questions on a separate piece of paper.

Discussion Questions
1. Did every ride make it into your amusement park? How are you going to explain this to the owners?
2. List the rides is order of importance for your amusement park. What was the last ride to make the cut on your list? What is this called?
3. What ride just missed the cut? What is this called?
4. Did you choose the roller coaster that required the most acreage? If you did, what was the cost?
5. Did everyone in your group agree on the list of rides you chose? Explain why you agreed and/or disagreed with each other.
6. Would the park look differently if one park was given to the whole class to develop? Which park might be more profitable, your park or the one designed by the whole class? Explain why.
7. What ultimately drove your decision making?

Rides and Acreage
Virtual Reality Roller Coaster- 0.25 acres
4 Loop Roller Coaster- 2 acres
Wooden Roller Coaster- 1.5 acres
Log Flume Water Ride- 1.5 acres
Ferris Wheel- 1 acre
Steam Engine Locomotive (Sightseeing) - 3 acres
Sky Buckets- 1 acre
Bumper Cars- 0.25 acre
Haunted House- 1 acre
Midway-Carnival Games- 0.5 acres
Whitewater Rafting- 2.5 acres
Rock Wall- 0.5 acres
Carousel- 1 acre
Swings-kids- 1.5 acres
Kids Rides- 1.5 acres
Bungee Swing- 0.5 acres
Go-carts- 1 acre
Kid’s Roller Coaster- 0.5 acres
Tilt-a-whirl- 0.5 acres
Swinging Boat- 1 acres
Turbo Tower Drop- 1 acre
Super Speed Roller Coaster- 2 acres
Water Slide- 1.5 acres
4D Movie Theater- 0.5 acres

Tax Scenarios PowerPoint Project- Virtual or In Person Option

Part 1: Understanding Tax Forms

Understanding and completing tax forms can be difficult. To help you with this process, this class project will allow you the opportunity to complete simulations for various tax items such as W-4, the W-2, and the intricacies of filing taxes. You will be answering the questions based on the person described in the simulation.

Complete each item showing you did in fact complete each simulation.

Simulation 1: As the number of allowances increases, the amount of federal income tax withheld ________________________.

Simulation 2: Is the filer getting a refund or do they owe more taxes?

Simulation 3: What is on Line 12 on the 1040EZ form?

Simulation 4A: Can the person claim David as a dependent on their tax return?

Simulation 5: Based on the answers, you can the person use the qualifying widow(er) with dependent child filing status?

Simulation 6: How many exemptions can the filer claim on their tax form?

Simulation 7A: How much federal tax was withheld and should be listed on the 1040A?

Simulation 7B: Is the filer getting a refund or do they owe more taxes?

Activity 2: Preparing a 1040 Income Tax Form

Directions for the Activity:

Provide a title slide listing the name for your tax project, your name, and class block.
Provide a background to the description of what an income tax is and its history. (1-2 slides)
Complete the simulations. On each slide, give the background of each person’s filing and the answer to the prompt for each scenario (8 slides).
Provide a listing of positive and negatives to income taxes. What are they good for? Why do people view them unfavorably?
Use color, pictures, and gifs. Be creative!

Grading Rubric

SCALE CRITERIA	0-10 points (needs work)	15 points (improving)	20 points (meets standard)	25 points (exceeds standard)
Circular Flow Model Diagram Poster / Amusement Park Project/ Media Tax Project PowerPoint	Does not complete the Project	The project fails to meet the required guidelines included in the assignment	The project contains all necessary parts according to the assignment	The project contains all components, and the diagram includes interesting pictures, colors, and other unique ideas
Shows research and knowledge of the selected project	Student does not demonstrate any research or knowledge on the topic	Vaguely discusses the importance of the given topic in economics	Appropriately uses research to explain the given topic in economics	Effectively describes how Individuals, Businesses, and the Government are impacted in the given topic and its role in economics.
Group Collaboration & Appropriate Behavior (N/A for solo projects)	Group does not collaborate whatsoever: sleeping, talking off topic, loud and inappropriate & disruptive behavior	Group collaborates somewhat but very inconsistent	Group collaboration is evident, and group is respectful throughout the entire project, including other presentations	Group maximizes efficiency through division of labor and specialization; and behavior is exemplary throughout the entirety of the project
Professionally presents the project within the 2-5 minute required timeframe	Refuses to or fails to present the project	Presents but does not meet the 2-5-minute requirement and/or is not prepared on the presentation date	Student presents in a professional manner within the 2-5-minute timeframe	Professionally presents the project within the required timeframe in a knowledgeable manner and able to answer questions about the project