The interview project was definitely an interesting way to find out my dad's, my aunt's, and even my own views of the economy. You get too not only see different peoples views based upon their opinions but you can see their opinions based upon the time period they grew up in. I was not able to interview the oldest person i have a relationship with but i was able to get my aunt, my dad, and myself.
My Dad is a very intelligent man, he is always up to date with everything that is going on around the world. He is a great when it comes to saving his money and using it purchase what is necessary and what is not. In his interview, he told me that he was mostly effected economically by the stock market crash and the housing bubble. To be honest, I am very close to my Dad and I never noticed a change in the way he went about life when these events occurred. He never showed weakness because he is a very hard working man and told me that even though he was effected by these events he pushed himself that much harder to earn back what he had lost. My dad also mentioned that in his lifetime the price of cars has doubled. I cannot even imagine going shopping for a new car and only paying fifteen grand for a brand new car because now a days you are paying upwards of thirty grand for a good car that is brand new.
My aunt (48) who is two years younger then my father obviously grew up in the same time period as my dad but experienced different economic events due to where she grew up. My aunt had mentioned that the one thing that was a big economic change for her was the increase in the price of gas. She grew up in central Massachusetts, which is very rural so to get to places you need to drive a good distance. Unlike my Dad who grew up just outside of Boston, where he did not rely much on a car for travel, as he used other means of transportation like buses and trains. My aunt also mentioned that with the economy being the way it is now a days she has to be very cautious when spending money. Which agrees with what my Dad had said.
When I went over the question with myself, I really had to think about it. I'm young still, so the economic event have not really affected me as much as my Dad and my Aunt. But I have still seen enough change to know that the economy is not very strong right now. The one change I have noticed is the gas prices. Before last summer gas was at a low $3.00. By the end of the summer the price had risen to just about $4.00 a gallon. And being a college student you dont necessarily have that much money, so paying for gas definitely burnt a hole in my pocket.
As I look at all three interviews, it is clear that everyone has been affected by the economy throughout their lives in one way or another. It was very interesting to see the different answers, I feel as though I learned a lot from this assignment and it has made me want to become more knowledgeable in economics and even global news.
Monday, April 15, 2013
Wednesday, April 10, 2013
Interview Project
DAD
My age is _50__________________
My gender is: (circle one)
Male Female
Please
make a mark in the box indicating your agreement with the following
statements
Mark
“not applicable” if you cannot answer the question given your experience with
the course so far.
|
strongly
disagree
|
disagree
|
neutral
|
agree
|
strongly
agree
|
Not
applicable
|
The government should regulate the
economy
|
X
|
|
|
|
|
|
Politics has a major influence on the
economy
|
|
|
|
X
|
|
|
Everyone should take an economics
class in high school
|
|
|
|
|
X
|
|
The drinking age should be lowered to
18
|
X
|
|
|
|
|
|
The government bailouts worked
|
X
|
|
|
|
|
|
The United States should have a
higher minimum wage
|
|
X
|
|
|
|
|
In 6 months the economy will be
better than today
|
X
|
|
|
|
|
|
I am well informed about economic
news
|
|
|
|
|
X
|
|
The recession personally affected me
|
|
|
|
|
X
|
|
Ask everyone the
following 8 questions:
1.
In your lifetime, what city that you
are familiar with has changed the most (both positive and negative)? Washington, DC
2. In your opinion, what president had the biggest positive impact on
the economy? In my lifetime - Ronald
Reagan Why? He governed with the
philosophy that allowed economy to flourish with less gov’t intervention…free
trade/free market to grow the economy.
3.
What is your first memory of a major
economic event impacting your life? The gas crisis in the 1970’s. What economic
event in your lifetime had the biggest impact on you? The housing bubble burst/stock market crash of 2008.
4. What tradeoffs in your life have you made due to economics (note
to interviewer/student: this question is about the concept of scarcity)? Downsize discretionary spending, to ensure
enough for fixed expenses.
5.
How do you get economic news? New radio and cable TV news. How has this changed over your life? Previously via newspapers during younger
years until I learned about the bias towards the left wing of politics
realizing I was not getting a balanced view.
6. How do you deal will rising prices e.g. substitute cheaper brand,
stop buying? Buy what is necessary and
shop when sales/discounts are available. Any examples? Christmas season sales are strategic to large savings.
7. What product or service has most changed over your lifetime? Cost of vehicles have doubled…cost of
gas…real estate values…college education…all of these!
8. How do you handle saving and how has this changed? Budget for large cost items vs. impulse
buying and more informed shopping to ensure highest quality for dollars spent,
especially on big items.
Choose 2 of the
following questions (or create your own):
1. What product or service has had the biggest price change in your
life? Real Estate.
2. What was your personal best year? Approx 1997-1998 How was the country doing? Well, as political parties on economic issues were meeting in the
center to get this accomplished.
3. What age were you when you got your first credit card? 1985…just out of college
4.
What was the price of gas when you got
your first car? 1985…guessing about
$1.25-$1.50/gallon
5.
How much does the stock market affect
your life? It impacts my investment
portfolio & 401K with regards to retirement planning with enough assets to
live comfortably.
6. What was your wage at your first job? Post college, 1985 = $15,800
AUNT
My age is_____48______________
My gender is: (circle one)
Male Female x
Please
make a mark in the box indicating your agreement with the following
statements
Mark
“not applicable” if you cannot answer the question given your experience with
the course so far.
|
strongly
disagree
|
disagree
|
neutral
|
agree
|
strongly
agree
|
Not
applicable
|
The government should regulate the
economy
|
|
|
x
|
|
|
|
Politics has a major influence on the
economy
|
|
|
|
x
|
|
|
Everyone should take an economics
class in high school
|
|
|
|
|
x
|
|
The drinking age should be lowered to
18
|
|
x
|
|
|
|
|
The government bailouts worked
|
|
x
|
|
|
|
|
The United States should have a
higher minimum wage
|
|
x
|
|
|
|
|
In 6 months the economy will be
better than today
|
|
x
|
|
|
|
|
I am well informed about economic
news
|
|
|
|
x
|
|
|
The recession personally affected me
|
|
|
|
x
|
|
|
Ask everyone the
following 8 questions:
1.
In your lifetime, what city that you
are familiar with has changed the most (both positive and negative)? Boston
2.
In your opinion, what president had the
biggest positive impact on the economy? Why?
Regan – turned the economy around
3.
What is your first memory of a major
economic event impacting your life? What economic event in your lifetime had
the biggest impact on you? Stock market loss
4.
What tradeoffs in your life have you
made due to economics (note to interviewer/student: this question is about the
concept of scarcity)? Can’t think of any
5.
How do you get economic news? How has
this changed over your life? Fox News
6.
How do you deal will rising prices e.g.
substitute cheaper brand, stop buying? Any examples? Shop around for best
prices.
7.
What product or service has most
changed over your lifetime? Gasoline
8.
How do you handle saving and how has
this changed? More cautious as to how
savings are invested
Choose 2 of the
following questions (or create your own):
1.
What product or service has had the
biggest price change in your life? gasoline
2.
What was your personal best year? How
was the country doing?
3.
What age were you when you got your
first credit card? 22
4.
What was the price of gas when you got
your first car?
5.
How much does the stock market affect
your life?
6.
What was your wage at your first job?
MYSELF
My age is_______19____________
My gender is: (circle one)
Male Female
Please
make a mark in the box indicating your agreement with the following
statements
Mark
“not applicable” if you cannot answer the question given your experience with
the course so far.
|
strongly
disagree
|
disagree
|
neutral
|
agree
|
strongly
agree
|
Not
applicable
|
The government should regulate the
economy
|
|
x
|
|
|
|
|
Politics has a major influence on the
economy
|
|
|
|
x
|
|
|
Everyone should take an economics
class in high school
|
|
|
|
x
|
|
|
The drinking age should be lowered to
18
|
|
x
|
|
|
|
|
The government bailouts worked
|
|
x
|
|
|
|
|
The United States should have a
higher minimum wage
|
|
x
|
|
|
|
|
In 6 months the economy will be
better than today
|
|
x
|
|
|
|
|
I am well informed about economic
news
|
|
|
x
|
|
|
|
The recession personally affected me
|
|
|
|
x
|
|
|
Ask everyone the
following 8 questions:
1.
In your lifetime, what city that you
are familiar with has changed the most (both positive and negative)? Taunton, MA
2.
In your opinion, what president had the
biggest positive impact on the economy? Why? Barrack Obama, ever since he has been in office the percentage of
college grads who get jobs has been on a downward fall.
3.
What is your first memory of a major
economic event impacting your life? The
real estate market went to shambles. What economic event in your lifetime had the
biggest impact on you? The stock market crash, It took a toll on
my parents and on myself. My dad almost
lost his job and I couldn’t find a summer job because there was literally
nothing at all.
4.
What tradeoffs in your life have you
made due to economics (note to interviewer/student: this question is about the
concept of scarcity)? I need to be
conservative with gas and can’t be driving around everywhere.
5. How do you get economic news? How has this changed over your life? I watch the news read Internet articles. I
grew up with these sources so it hasn’t changed.
6.
How do you deal will rising prices e.g.
substitute cheaper brand, stop buying? Any examples? Like I said before I use my gas conservatively.
7.
What product or service has most
changed over your lifetime? The only
thing I can think of is the prices of gas.
8.
How do you handle saving and how has
this changed. I just try not to spend very much money when I get my paychecks. I buy what is necessary and save the rest.
Choose 2 of the
following questions (or create your own):
1.
What product or service has had the
biggest price change in your life? Gas
2.
What was your personal best year? How
was the country doing?
3.
What age were you when you got your
first credit card?
4.
What was the price of gas when you got
your first car?
5.
How much does the stock market affect
your life?
6. What was your wage at your first job? $8.40
/ hour
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