LESSON:  MY DAD’S JOB

Lesson Summary

A young boy’s imagination takes over as he hears his father talk about his job as a stock market analyst.

Concept: Specialization

Definition:  People specialize when they produce only some of the goods and services they consume, then trade with others to get more of the things they want.  Specialization increases the amount of goods and services produced and the amount that people consume. 

People also specialize when they break down a production task into numerous separate tasks, such as on an assembly line, or when people in an office setting do different jobs.

Comprehension Questions

What special service does the Dad and his company provide?
He works for some kind of financial services company, one that specializes in financial work – buying stocks, futures, etc.

Describe what type of team Dad was on.
Dad’s “team” was a group of workers in his company who had special jobs and worked together to achieve a common goal.

How does your school illustrate a “team” of workers?
The people who work at the school all have special jobs and are a part of a team that deliver education to children – teachers, principals, secretaries, nurses, custodians, etc.  Teachers’ jobs are even more specialized – art and music teachers, gym teachers, math teachers, etc.

What do we call the people who work to produce goods or services?
Human resources

What difficult challenge confronted Dad at his job on Tuesday?
He had to fight off a hostile takeover - a forceful attempt by one company to take control of another company.

What special kind of job or skills would be necessary to fight off a hostile takeover?
Lawyers would especially be needed and also people with special knowledge in dealing with takeover issues.  Non-professional jobs also are important – secretaries, business office workers, etc.  It takes a team approach to tackle important challenges in the world of work!

One concern Dad had in his job was the wild ride the “bulls” and “bears” were giving everyone.  Are these real bulls and bears?  Explain.
A bull market is a market where prices are going up; a bear market is a market where prices are going down.

Explain what buying “futures” meant in the story?
Futures markets are where people make a promise to buy a product like orange juice, coffee, or heating oil at a specific price in the future.

In what way can work be “fun?”
Although work isn’t easy, it can indeed be fulfilling and enjoyable when challenges are met and goals are reached.

Extra Credit Question!  What do we call the special skills and training that people (human resources) have that help them in their jobs?
Human capital

Other Concepts:  markets, human resources

  Specialization 

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