1.++Economic+Problem

= 1. Economic problem ﻿ = **Your task** 1. Press edit above 2. Move your cursor below your name (scroll down) - only work in the area under your name 3. Use Ms Stevenson's examplar as a guide

**Miss Stevenson's exemplar:** (note you can not use my topic! Go to your task sheet for more topic examples.)


 * ** Whose problem/issue is it: ** || My Grandmother who is 70 years old. ||
 * ** Key needs/wants: ** || Grandma wants a dog for companionship, exercise and security. ||
 * ** What are the technical aspects of the problem: ** || Grandma believes that pedigree dogs are superior to mixed breeds and accordingly will only consider pedigrees with papers ||
 * ** What are the financial aspects of the problem: ** || Grandma has $1,000 to spend on a new dog ||
 * ** What caused the problem: ** || Grandma has always had border collies and sadly her last dog died from old age. ||
 * ** Effects of the problem: ** || By spending $1000 on a dog, Grandma will have to rethink her Christmas budget for grandchildren this year as well as budget for ongoing dog maintenance and care costs. ||


 * Robbie Bigman**


 * Whose problem is it || Jimmy a full time worker ||
 * Key needs/wants: || a car to drive to work ||
 * What are the technical aspects of the problem? || a stylish car that is cheap concerning maintenance and fuel in the long run ||
 * What are the financial aspects of the problem? || $10000 dollars in bank account and doesnt get paid till next month ||
 * What caused the problem: || doesnt want to catch public transport anymore ||
 * Effects of the problem: || buying an expensive car will leave him with limited money till the next pay day ||

Ms Stevenson: Robbie - good start, your a dirty boss


 * Bill Bowlcut**

Ms Stevenson: Bill - we weren't in a recession - it was a downturn - you need 2 consectutive quarters of negative growth for a recession || 2. Purchase Rate 3.Cash Rate 4. Interest free days Ms Stevenson: With each of the above - be more specific - what limit does she want to balance transfer etc || Ms Stevenson: Rethink this ... I am not sure this is a valid reason ||
 * Whose problem is it? || A 35 year old mother has decided to spend more money and is looking for a better credit card to do so since Australia is on it's way out of a recession
 * Key needs/wants: || 1.Balance transfer
 * What are the technical aspects of the problem? || She wants a card with low fees and is able to spend more without paying extra money ||
 * What are the financial aspects of the problem? || Investing in a new credit card ||
 * What caused the problem: || Economy has changed ...
 * Effects of the problem: || Ms Stevenson: what will she be able to do once she has the credit card? ||

Ms Stevenson: Bill - good start - see comments above


 * Kelvin C**

Ms Stevenson: What is he going to use the computer for eg just school work or games or internet use etc etc so how much memory etc does he need? ||
 * Whose problem is it? || Jack has $2500 of savings to spend on a new computer for school. ||
 * Key needs/wants: || A new computer for school work. ||
 * What are the technical aspects of the problem? || A mac/macbook or another windows computer.
 * What are the financial aspects of the problem? || Price, mobility, quality, user friendliness, longevity. ||
 * What caused the problem: || Old computer was too outdated. ||
 * Effects of the problem: || Only have $2500 to spend, this money has been saved up. The cheaper the computer the more money i will have left over. ||

Ms Stevenson: Kelvin - see comments above


 * Luke C**


 * Whose problem is it? || Bob has ||
 * Key needs/wants: ||  ||
 * What are the technical aspects of the problem? ||  ||
 * What are the financial aspects of the problem? ||  ||
 * What caused the problem: ||  ||
 * Effects of the problem: ||  ||

Ms Stevenson: Luke - get started!
 * Arman C**


 * Whose problem is it? || Write your answers in here and below ||
 * Key needs/wants: ||  ||
 * What are the technical aspects of the problem? ||  ||
 * What are the financial aspects of the problem? ||  ||
 * What caused the problem: ||  ||
 * Effects of the problem: ||  ||

Ms Stevenson: Arman - get started!
 * Jonathan D**


 * Whose problem is it? || Write your answers in here and below ||
 * Key needs/wants: ||  ||
 * What are the technical aspects of the problem? ||  ||
 * What are the financial aspects of the problem? ||  ||
 * What caused the problem: ||  ||
 * Effects of the problem: ||  ||

Ms Stevenson: Arman - get started!
 * Cam E**

Ms Stevenson: Cam E - get started!
 * Whose problem is it? || Write your answers in here and below ||
 * Key needs/wants: || New speakers ||
 * What are the technical aspects of the problem? ||  ||
 * What are the financial aspects of the problem? ||  ||
 * What caused the problem: ||  ||
 * Effects of the problem: ||  ||


 * Tom Goon**


 * Whose problem is it? || Write your answers in here and below ||
 * Key needs/wants: ||  ||
 * What are the technical aspects of the problem? ||  ||
 * What are the financial aspects of the problem? ||  ||
 * What caused the problem: ||  ||
 * Effects of the problem: ||  ||

Ms Stevenson: Tom G - get started!


 * Christian H**

Ms Stevenson: what does he want out of his investment eg capital growth v dividends etc ||
 * Whose problem is it? || My friend of 24, Darren ||
 * Key needs/wants: || He wants to start his portfolio of shares, and is deciding between three businesses to invest in. ||
 * What are the technical aspects of the problem? || He only wants to invest into one business, as he believes it is safer to have all his money in one set of stocks.
 * What are the financial aspects of the problem? || He only has $10000 dollars to spend on the shares. ||
 * What caused the problem: || He has left university, and would like to start his life on a positive financial note. ||
 * Effects of the problem: || He will have to sacrifice purchasing a new house, and will have to continue living with his parents, as well as the price for ongoing maintenance costs. ||

Ms Stevenson: Christian - great start!


 * Jackson H**

Ms Stevenson: Jackson - make sure you have 3 cars to chose from ||
 * Whose problem is it? || My problem ||
 * Key needs/wants: || I want a new car for transport and independance. ||
 * What are the technical aspects of the problem? || I want a Nissan or toyota car as they are the best car for their price in terms of performance.
 * What are the financial aspects of the problem? || I have $15 000 to spend on the car. ||
 * What caused the problem: || I need a new car for transportation and independence. ||
 * Effects of the problem: || By spending $15 000 on a car I will have to re-think going on holidays, as well as a budget for ongoing maintenance costs. ||

Ms Stevenson: Jackson - great start!


 * Sam K**


 * Whose problem is it? || Jonah, brickie, 27 ||
 * Key needs/wants: || Modest House for his growing family ||
 * What are the technical aspects of the problem? || 3 Bedrooms, Good sized backyard, 1 Bathroom is fine but preferably 2, a space for tools etc. can use garage, but there has to be an under cover space for the ute as well, Outer-eastern suburbs of Melbourne and made of bricks! ||
 * What are the financial aspects of the problem? || $250,000 Budget ||
 * What caused the problem: || Wife had another kid and they need to move out of the apartment and into a house so they raise their growing family ||
 * Effects of the problem: || By purchasing the house, Jonah and spouse will be on very tight budget for a while as they begin to pay off the mortgage ||

Ms Stevenson: Sam - good start!
 * Harry K**

Ms Stevenson: is he after capital growth or dividend yield? Is this a short term or long term investmenet? ||
 * Whose problem is it? || A student doing economics at university has $10,000 wishes to invest in a company to gain a much money as possible to spend on buying tuition fees. ||
 * Key needs/wants: || To get as much money as possible. His tuition fee for university. The most reliable stock that he could keep for a year to decrease the outtake tax. ||
 * What are the technical aspects of the problem? || Researching a large and safe company that he can invest in and receive a positive surplus and attain more money for the future.
 * What are the financial aspects of the problem? || $10,000 to invest. Looking for best record of investors gaining money after investment. ||
 * What caused the problem: || His parents are trying to give him a chance of becoming an adult and look after himself. Also he is developing skills he could use later to get money. ||
 * Effects of the problem: || There could be a massive risk if the company he invests in goes bankrupt and he would lose all of his money. Also demoralising. ||

Ms Stevenson: Harry - good start!


 * Miller L**


 * Whose problem is it? || Write your answers in here and below ||
 * Key needs/wants: ||  ||
 * What are the technical aspects of the problem? ||  ||
 * What are the financial aspects of the problem? ||  ||
 * What caused the problem: ||  ||
 * Effects of the problem: ||  ||

Ms Stevenson: Miller - get started!
 * James M**

Ms Stevenson: think about what you want out of the car; fuel efficiency or safety features or boot space etc ||
 * Whose problem is it? || 28 year old male ||
 * Key needs/wants: || Good quality car but doesn't want to spend a lot of money ||
 * What are the technical aspects of the problem? || Holden Ford or Mazda
 * What are the finanical aspects of the problem? || Only $25,000 to spend on a quality car ||
 * What caused the problem? || His wife has just had kids and wants to update the family car which will be safe for the kids now and when they grow up ||
 * Effects of the problem. || With that $25,000 he could of kept the money and spent it on a holiday for .... ||

Ms Stevenson: James - good effort!


 * FTS Mosss.**

Ms Stevenson: so what does he want to use it for - just taking notes or gaming, skype, internet etc as well || Ms Stevenson: memory, battery life etc? ||
 * Whose problem is it? || Brad, a student who has just graduated high school and needs a good laptop for university. ||
 * Key needs/wants: || A decent laptop that he can do his work on at uni.
 * What are the technical aspects of the problem? || He can only choose a laptop as it has to be portable.
 * What are the financial aspects of the problem? || Brad only has $3,000 dollars, as that is only how much he earned from waiting tables over the holidays ||
 * What caused the problem: || His current computer is broken and he desperately needs one for uni. ||
 * Effects of the problem: || If he buys and expensive computer, he can't buy optional software upgrades. ||

Ms Stevenson: Moss - Great Start!


 * Dougal M**

Ms Stevenson: Well done Dougal!
 * Whose problem is it? || My mother is 40 years old. She is looking to invest in an overseas location. ||
 * Key needs/wants: || She wants this property to be specifically in Phuket, because of the location, for retirement in her later years ||
 * What are the technical aspects of the problem? || She thinks the suburb in Phuket is more superior than the two other houses evaluated in Phuket based on location to Bars, Beachfront, and Pools. ||
 * What are the financial aspects of the problem? || She is aiming to invest 500,000 to 1.500,000 dollars in the property ||
 * What caused the problem: || Shes always wanted a house overseas or anywhere else than Brisbane and the Gold Coast, and they thought it was time to make a change in their life. ||
 * Effects of the problem: || If she spends in her target price range, she will have to budget costs in the year, aswell as costs for schooling and university fees. ||


 * Lachie N**

Ms Stevenson: make sure you have three phones - are you mainly going to using it to call, or using the internet, texting, games etc || Ms Stevenson: Well done Lachie!
 * Whose problem is it? || Mine ||
 * Key needs/wants: || A new phone, ||
 * What are the technical aspects of the problem? || i will only have an iPhone, Blackberry, htc
 * What are the financial aspects of the problem? || I have $1000 to spend on a new phone ||
 * What caused the problem: || I broke my old phone ||
 * Effects of the problem: || By spending $1000 on a new phone i will have to rethink how much money i will take on holday. i will also have to take into account the money i spend on a phone credit and apps. ||


 * Daniel S**


 * Whose problem is it? || My Problem ||
 * Key needs/wants: || I want an new iPod to listen to music on the bus ||
 * What are the technical aspects of the problem? || I want only apple iPods not MP3 as i believe they are the best and most reliable. Either a touch, a nano, or a classic ||
 * What are the financial aspects of the problem? || Preferably under $300 ||
 * What caused the problem: || Boredom on the bus ride to and from school. ||
 * Effects of the problem: || Buy spending $300 on the IPod I will have to save up again if I want a console ||

Ms Stevenson: Ok Daniel ... make sure that you are picking products that are similarly priced as I really want to make a decision using a criteria other than price. Ms Stevenson: Where is he driving - just around town or ...? || ﻿Ms Stevenson: Does he want 3 doors or 5 doors, safety features, engine specs, fuel efficiency etc? ||
 * Hugo S**
 * Whose problem is it? || My best mate Peter, He has just finished University and is 24. ||
 * Key needs/wants: || A car for practicality, transport and independance etc. I will use the car to drive to my part time work, friends houses, home and courier job.
 * What are the technical aspects of the problem? || Ideally a 5 door car with extremelysafe features.However 5 doors is ideal, i will accept a 3 door if it excels in other criteria. Fuel efficiency is an important part of my problem as i do not want to have a huge fuel bill every week.Engine spec's do not blother me as long as it does not consume ridiculous amounts of fuel.
 * What are the financial aspects of the problem? || Peter has a budget of $18500, anything under is a bonus ||
 * What caused the problem: || Moved out of home, can't rely on his parents ||
 * Effects of the problem: || By spending the total of his budget, Peter will not be able to party/spend large proportions of money that is not necessary ( xbox games) ||

Ms Stevenson: Hugo - good start - make sure that the three cares you pick are similarly priced as I really want to make a decision using a criteria other than price.


 * Tristan S**


 * Whose problem is it? || Tristan, 18yrs, starting uni and left parents home. ||
 * Key needs/wants: || Tristan needs a credit card which has the best interest rates, lowest fees and has a wide range of compatible atm's. he is wondering if it is better - financialy - to get one or more credit cards or if it would be more benificial to not get one at all. ||
 * What are the technical aspects of the problem? || want something that will provide the best assistance and is easy to use. it needs to have a wide range of compatible atm's and ||
 * What are the financial aspects of the problem? || not all credit cards have the same amount of interest and fees. Some card companies have deals where for the first few months: the fees will be waved and they will give you a large interest rate. also Tristan isnt sure weather to get more than one credit card because the financial benifets may be better if he has more options. ||
 * What caused the problem: || There are many different branches. Commonwelth bank, suncorp, ANZ, westpac, citi and many more. they are all competitive and some may start out good then become expensive and inconvienient to use. ||
 * Effects of the problem: || some items Tristan wants or needs are unattainable as he cannot afford them on the spot and obtaining a credit card will allow him to get these certain items. ||

Ms Stevenson: Tristan - get started!


 * Cameron T**


 * Whose problem is it? || My problem ||
 * Key needs/wants: || A new laptop - can be a macbook or a windows - for school work and gaming. ||
 * What are the technical aspects of the problem? || The computer must have at least 600 GB hard drive space and at least 4 GB RAM or higher. Either a graphics card or a high resolution screen. The computer needs to be delivered. ||
 * What are the financial aspects of the problem? || I have $2000 to spend ||
 * What caused the problem: || A virus infected the old computer and it needs to be replaced. ||
 * Effects of the problem: || Less homework is getting done and cant play computer games ||

Ms Stevenson: Cameron - good work!


 * Grant T**


 * Whose problem is it? || Parents ||
 * Key needs/wants: || Thinking of buying a house in Pullenvale, Brookfield or Indooroopilly ||
 * What are the technical aspects of the problem? || 4 bedrooms, 3 garagae ||
 * What are the financial aspects of the problem? || Around 0.9mill ||
 * What caused the problem: || new place to live. ||
 * Effects of the problem: ||  ||

Ms Stevenson: Grant - not detailed enough - refer to my example and those of your classmates with favourable comments


 * Jayanga W**


 * Whose problem is it? || John, a middle aged married man with 3 teenage boys ||
 * Key needs/wants: || A faster and a more efficient broadband plan ||
 * What are the technical aspects of the problem? || must be ADSL2+ internet (expects to be fast) and must be over 100 gb of space. He is only interested in the 3 major internet service providers (Big Pond, Optus, iinet) ||
 * What are the financial aspects of the problem? || only prepared to pay a maximum of $60 a month ||
 * What caused the problem || monthly useage usually exceeds 100 gb (kids download a lot of music and movies) and the internet is generally slow ||
 * Effects of the problem: || difficuly of getting work done and the irritation of sitting in front of a computer for hours (time wasting). ||

Ms Stevenson: Jayanga - great start!


 * Nigel W**


 * Whose problem is it? || Write your answers in here and below ||
 * Key needs/wants: ||  ||
 * What are the technical aspects of the problem? ||  ||
 * What are the financial aspects of the problem? ||  ||
 * What caused the problem: ||  ||
 * Effects of the problem: ||  ||

Ms Stevenson: Nigel - get started!


 * Jackson Z**


 * Whose problem is it? || Write your answers in here and below ||
 * Key needs/wants: ||  ||
 * What are the technical aspects of the problem? ||  ||
 * What are the financial aspects of the problem? ||  ||
 * What caused the problem: ||  ||
 * Effects of the problem: ||  ||

Ms Stevenson: Jackson - get started!