WK1.Please write a few sentences describing a situation where you (or someone you know) has used their problem solving skill or agility skill to increase their human capital in order to get a better job or earn more income.WK2. Identify an investment decision that you or someone else has made. (This should be for goods or services for which one or more payments were made in order to receive increased benefits from those goods or services at a later time.) How do you think the concept of supply and demand impacted the investment decision? Now that you understand the time value of money, how would you use your problem solving skill (especially critical thinking strategies) to rethink the decision in the future? WK3.Most people have several jobs over their lifetimes. Give a brief description of two or more of the jobs you’ve already had. Without revealing private information, explain if the job was part-time or full-time and address the following questions.What skills were required to perform your best?To what extent were your agility, problem solving, and technology skills necessary for success?What new skills did you learn in each job?How did learning these skills contribute to improving your ability to be effective in your work?Did these new skills increase your human capital? If you haven’t started working yet, describe the type of career you hope to have after finishing school.How will your agility, problem solving, and technology skills be a vital part of your success in this type of career? WK4. Benjamin Franklin reportedly said, “In this world nothing can be said to be certain, except death and taxes.” In other words, taxes will always be with us. When we think of taxes, we often focus on the largest one, the federal personal income tax. But we also pay other taxes. Some are federal, and some are only in specific geographic areas (cities or states). Paying taxes can have a significant impact on our household budget. However, it’s also important to note the benefits we receive from services that are funded by tax dollars (public education, roads, parks, food assistance, etc.).Identify one tax (other than federal personal income tax) you pay and one benefit you utilize that is funded by tax dollars. How do both of these impact your life and your family member’s lives? WK5. Many consumers use checking accounts and credit, often in the form of credit cards. What are some of the advantages and disadvantages of having a checking account? What are some of the advantages and disadvantages of having a credit card? What are some strategies you could use to manage credit cards to avoid paying high-interest rates and fees? How can planning to manage your accounts lead you to be more productive and better equipped to manage your financial priorities? WK6 For many Americans, buying a home is a goal. But it is also expensive compared to renting. Explain some of the advantages and disadvantages of buying a home compared to renting. What are some of the key issues a first-time homebuyer should consider? Additionally, describe a housing-related goal that you may have for yourself. What types of financial information might you need to be able to create a starting point for reaching this goal? Will you consult a financial advisor, open a savings account, or reach out to someone you know who has purchased a home? Example of a housing goal: "I'd like to have 20% saved as a down payment on a new home.” WK7 Your webtext says, “In the world of finance, there is one certainty: you must take more risk to earn a higher return.” It then identifies the following types of risk: inflation risk, business risk, interest rate risk, and liquidity risk.Risk is a consideration in many of the decisions we make. Describe a risky financial decision made by you or someone else. What were the downsides of the decision? What were the upsides? How might your financial goals and personal financial plan impact the amount of risk you are willing to take on regarding a financial decision?Example of a risky financial decision: Withdrawing money from your retirement savings to fund a business start-up WK8. Economists talk about saving and investing as two separate steps. After an individual has saved some money, it’s time to decide on investments. Describe an investment that you or someone else could make. What are the advantages of this investment? What are the disadvantages? What types of information would you review or who would you consult to help inform your decision about this investment? Example of an investment: Deciding to enroll in your employer's 401K plan WK9. Insurance companies willingly take on our risks for a fee. Give an example of a risk that you or someone else has chosen to insure.How could you use your technology skill and Microsoft Excel to organize, analyze, and compare data to decide if a specific insurance is a good value for the example you gave? Think about the cost and consequences of not having insurance versus the cost of the insurance over time. WK10. Based on what you’ve learned this week about retirement plans, describe something you can do to increase your savings for retirement.

Problem Set #3 – ECON 100B intermediate Microeconomicswrtie all the steps and details.