S. Jeannie Thompson EBUS 350/351 April 8, 2008 Internet Learning Activity Package ***Accounting/Entrepreneurship/Life Transitions*** Let’s Travel and Discover the World! Introduction: This Internet Learning Activity Package is formatted to help students see and become apart of the many important aspects of traveling the world. Students will be given the opportunity to find out about Flight cost, Accommodation costs, and Health/Travel insurance, Budgeting, Planning activities/Itinerary in advance, Credit, Online Banking, and Career Opportunities. Objectives: Accounting Students will be able to come up with an accurate definition of a budget. Students will be able to express the advantages and disadvantages of budgeting. Students will be able to work with online banking and express the advantages and disadvantages of online banking. (Ex.) What kinds of crime can occur by using this method of banking? Students will be able to describe how Exchange rates change from country to country and how that can affect a travel budget. Students will be able to describe what an interest rate is and how it can fluctuate. Entrepreneurship Students will be able to describe Entrepreneurship Opportunities that maybe apart of the economy. Students will be able to assess the kinds of opportunities that are within one area that they are traveling to. Students will be able to see how networking may benefit businesses within the area. Students will be able to express Saskatchewan’s international trading status. Students will be able to describe some ways that Saskatchewan and the country in question could do business together. Students will be asked to try to come up with an opportunity abroad that involves them and a business that they would like to open. S. Jeannie Thompson EBUS 350/351 April 8, 2008 Life Transitions Students will be able to examine available banking options. Students will be able to examine the pros and cons money’s currency. Students will be able to explore different types of health/travel insurance. Students will be able to explore and implement a variety of interests in traveling. Students will be able to calculate the cost of traveling. (Ex.) Flight, accommodations, food, etc. Students will be able to come up with a budget for the trip and choose activities, accommodations, etc. that fit into that budget. Teacher Notes: This iLap is to give students a chance to see the skills that they already have as well as gain more skills and experience in areas that they may not feel comfortable within. Students that have finished all the required assignments can partake in this iLap as a way to enlighten themselves in areas that they may not know of already and that interest them. Each activity should take 10-15 minutes each, definitely no more than 20 minutes, and in some cases the answers to the activities may vary depending on the countries that the students wish to visit or the direction to which they take the activity. A teacher’s manual has been attached. S. Jeannie Thompson EBUS 350/351 April 8, 2008 Introduction: You have finally graduated from High School… Now what is the plan? Here is just a thought… Why don’t you say goodbye to your High School days by taking a trip abroad? By traveling abroad you will gain the experience of learning about other cultures, discover the key areas of what it takes to travel, explore many tourist attractions that you may have only heard about and manage your money in an effective manner. You will discover the answers to the following: 1. Flight Costs 2. Accommodation Costs 3. Currency of the country 4. Health/Travel Insurance 5. Preparing a Budget 6. On Line Banking 7. Planning Activities 8. Career Opportunities You will be using the Internet to acquire the information and the knowledge that you will need for this assignment. You will be acquiring knowledge in Accounting, Entrepreneurship and Life Transitions. Take this assignment seriously just in case you do want to take a trip to somewhere exotic one day… All this information could be extremely useful for you!!! This trip can become reality and treat it that way!! S. Jeannie Thompson EBUS 350/351 April 8, 2008 Get Ready to… S. Jeannie Thompson EBUS 350/351 April 8, 2008 Activity #1: Where are you going to Visit? In order to know what you are going to need for your voyage you need to decide where you are going to go on your journey. It is important to first decide how long you will be gone for… (Ex.) 2 or 6 months or anytime in between. Once that is decided you need to pick four places that you wish to travel to. Remember that all these places that you want to visit should be near one another so that they are super easy to travel to. As well as, your budget for your trip is $7000. Procedure: 1. Go on Google (www.google.ca) and look at different places that you have always wanted to go to. Here are some questions that you can ask yourself: a. What is it about this place that makes me want to go there? b. Are there any other places that I want to visit that are close to this one? c. What are the kinds of activities that are offered for tourists in the areas? (1 Mark for each answer 5 marks total) How long are you planning on going for? _____________________ Where are you going to go? 1. 2. 3. 4. S. Jeannie Thompson EBUS 350/351 April 8, 2008 Activity #2: Flight Costs Now you need to come up with some costs on flights to the areas that you wish to visit. First decide which area you wish to start from and go from there. How much is the flight going to cost you? Are there any other choices from your list of places to visit that may be cheaper to start from? What is a location that you can afford? Remember the amount of your budget and keep that in mind. Procedure: 1. Click on these websites and find the most economical price for your first flight. a. www.expedia.ca b. www.travelocity.ca c. www.canuckabroad.com/cheapflights/cheapflights.shtml 2. So you are searching for your first initial flight… the one that takes you from Regina to your desired location. Lets say that your flight begins on July 2 nd, 2008… and you will be leaving from the same location that you are starting from but your return flight information will depend on how long you are planning on staying abroad. a. Cost of Flight b. Departure time/Arrival time… make sure that you also include the country that you are arriving in. c. Name of the Airline d. Is there a connecting flight? You need to have this information as well. e. Return flight: Departure time/Arrival time (1 mark for each answer 5 marks total) Cost of Flight Departure/Arrival Times Name of Airline Connecting Flight Return: Departure/Arrival Times Total Marks: S. Jeannie Thompson EBUS 350/351 April 8, 2008 Activity #3: Where are you Staying? Now that you have your flight booked, you need to choose where you are going to stay. Remember that your budget is $7000. There may not be enough money in your budget to allow for hotel costs so there is always the choice of hostels. Hostels are places that tourists stay for a reduced rate. Largely referred to as 'backpacking', this form of travel is usually done on a budget and is not for the faint at heart (www.hostels.com/en/newtohostelling.html). When looking on the site and booking a hostel for the trip remember that you are just booking for yourself and that the cost should only be for one guest. Procedure: 1. Click on the following site for hostelling information: www.hostels.com 2. Fill in the following information: (1 mark for each answer 4 marks total) Name of the City/Town that you are staying in. Name of the Hostel. How long is your stay? What is the rate/night at the hostel? Total Cost 3. Are there any interesting qualities to the hostel (Ex. Has a pool, provides breakfast, etc.)… Write down the ones that surprise or excite you? (2 marks) i. ii. iii. S. Jeannie Thompson EBUS 350/351 April 8, 2008 iv. Activity #4: Currency In this activity you will be looking at the Exchange rates and the currency of your money in the country that you are visiting. If there is more than one country than just choose the first country that you will be heading to. This activity will give you an idea of how currency can differ and change from country to country. Procedure: 1. Click on the following web site to figure out the exchange rate. www.xe.com/ucc/ 2. Write down all the information that will be needed from the currency converter site. How much is a Canadian Dollar worth over there? Is the Canadian dollar worth less than their dollar or more? Canadian Dollar amount Country of Interest Dollar amount How much can you get with $700 Canadian dollars? (1 mark for each answer 3 marks total) 3. Has the currency converter changed your mind for where you are going? Do you think that it is too expensive or are you ok with the amount of money that you can get with the exchange rate? (2 marks) S. Jeannie Thompson EBUS 350/351 April 8, 2008 Activity #5: Health/Travel Insurance When traveling abroad anything can happen and it’s always best to be completely prepared for those issues. In Canada we are lucky to have such a fantastic health care system but unfortunately that health care does not travel with us when we go somewhere. In this activity you need to get some information on Health and Travel insurance when traveling abroad. Take into consideration the amount of time that you are going to be gone and how long you are going to need extended insurance. Procedure: 1. Click on the following web site. http://www.insuremytrip.com/ca.index-1012-0-60075-0.html 2. You are looking for insurance that will suit you and your needs. Compare two different forms of insurance on the website and right some of those comparisons down in this table. (1 mark for each answer 7 marks) Insurance #1 Company Plan Name and Terms Plan Type Total Policy Cost Trip Cancellation Emergency Medical Expenses Which do you choose? Insurance #2 S. Jeannie Thompson EBUS 350/351 April 8, 2008 Activity #6: Preparing a Budget A key part of traveling abroad is having enough money to enjoy everything that you would like to do. Now remember that without a budget you may have the tendency to over spend. In this activity you are going to need to come up with a budget of what you are going to spend throughout your entire travels. You know the cost of your flight and of your accommodations so now you need to decide what is left over for food and leisure time. Always take into consideration the amount of time that you are going to be over traveling abroad. Procedure: 1. Click on the following web site. www.yourmoney.cba.ca 2. Go through the web site and read about budgeting and why you need to budget. Define the term BUDGET. What does budgeting do for us and who should budget? Answer these questions and print off your answers so they can be marked. (1mark for each answer 3 marks total) 3. Click on the following web site and go through the order of the budget. See how well you can budget the money that you have coming in monthly. www.yourmoney.cba.ca/tsam/en/tsam/budget/reality/ 4. By using the information that you have acquired from the web site above you can now determine the budget that you are going to use for your trip abroad. Take into consideration that all of the expense amounts are just going to be estimates since there are no real accurate numbers other than the flight costs, the accommodations and the health/travel insurance amounts. Remember back to when you were looking at places to travel to… you were looking at all the sites that you would like to partake in when at the desired destination. The following S. Jeannie Thompson EBUS 350/351 April 8, 2008 table will help you keep track of the money that you have already spent and that you will be able to spend abroad. Expenses Estimated Budget Flight Accommodations Food Health/Travel Insurance Leisure Activities Miscellaneous Spending ESTIMATED TOTAL (1 mark for each answer 7 marks total) 5. How much money should you keep aside for food? Calculate the amount of days that you are traveling and $30/day for food. A good way to save money while traveling is by buying your food from the local markets, which can be cheaper than from eating at restaurants everyday. However, you are going to want to do research on the cleanliness of the markets before you travel. (1 mark) ______ X $30.00 = _______ 6. Calculate how much miscellaneous spending money you have left over by calculating the difference between the money left over from the cost of the flight, the accommodations, Health/travel insurance and food. What ever is left over can be used for the activities that you are looking forward to partaking in. Remember though… it would be nice to come home with some money left over in your bank account. This way you are not struggling till the first paycheck comes through. S. Jeannie Thompson EBUS 350/351 April 8, 2008 Activity #7: On Line Banking While traveling abroad the easiest way to do your banking is on-line. This can save you from a lot of headaches and can help you budget your money a lot better. By seeing what you are spending you money on daily can really help you see where you can save more often. This way of banking is useful when your bank cannot be found in the city that you are staying in. You can deposit money from other accounts into the one that you are using and check your balance all in one step. This tool is also useful when you are running out of money and you need someone to deposit some more funds into your account for you. Procedure: 1. Click on the following web site and provide answers to the questions below. (10 marks total) www.bankrate.com/brm/olbstep2.asp What is Online Banking? What are 4 advantages with online banking? i) ii) iii) iv) What are 4 disadvantages with online banking? i) ii) iii) Iv) 2. “Online banking isn't out to change your money habits. It simply uses today's technology to give you the option of bypassing the time-consuming, paper-based aspects of traditional banking in order to manage your finances more quickly and efficiently”. S. Jeannie Thompson EBUS 350/351 April 8, 2008 How safe/secure is online banking? Is there anything that we should worry about when doing our banking over the Internet? Come up with some pros and cons for online banking. PROS: CONS: What are some crimes that can be committed to online bankers? Go to this web site and describe 3 key areas of crime that an online banker needs to be aware of. What is so important about these online crimes? www.ckfraud.org/whitecollar.html 1. 2. 3. S. Jeannie Thompson EBUS 350/351 April 8, 2008 Activity #8: Planning Activities While planning your trip abroad you are going to want to have an idea of where you are wanting to go to and what kinds of activities that you are going to want to partake in. However, you are going to want to remember that flexibility is also key since there will be issues like lack of money, meeting people that have ideas that sound like a lot of fun and transportation delays. Traveling is never going to be as smooth as it looks on paper… there will always be something that will delay you or get in your way but go with the flow and enjoy your time anyway!! Go and read this website for some ideas to help you plan your trip… www.canuckabroad.com/backpack/planning.shtml. Procedure: 1. Go back to Google (www.google.ca) and look up the places that you want to go to. Think about what the city/town or country has to offer and what are the main tourist attractions. Describe 3 places that you are going to go see and why. How much do they cost? (3 marks for each answer 9 marks total) a. b. c. S. Jeannie Thompson EBUS 350/351 April 8, 2008 Activity #9: Career Opportunities Through your travels you have learnt a lot about the culture and the way that the people do business in the economy. You have come to the understanding that you would like to come back and work in the chosen country. You have grown to love everything that the country has to offer and cannot see yourself coming back to Canada for very long. However, you need to come up with some way of making money. What kinds of businesses can you open/work for? Why do you think that a new business will succeed? These are just a couple questions that you are going to need to ask yourself when coming up a business plan. To begin the search for a job, Google career opportunities for the country that you are looking to get a job in (Ex. Career Opportunities for Germany). Through this Google search you will find a number of career opportunities within the country that you want to go to. You can be more specific and choose a city if you like. Fill in the information below: JOB #1: Position: Employer: Qualifications/Requirements/Education: Salary: JOB #2: Position: Employer: Qualifications/Requirements/Education: S. Jeannie Thompson EBUS 350/351 April 8, 2008 Salary: BUSINESS OPPORTUNITY: What is the opportunity? Is there a demand for this opportunity? Where will you open your business? Are there a lot of these kinds of businesses already in this community? S. Jeannie Thompson EBUS 350/351 April 8, 2008 Teachers Manual: Activity #1: Where are you going to Visit? In order to know what you are going to need for your voyage you need to decide where you are going to go on your journey. It is important to first decide how long you will be gone for… (Ex.) 2 or 6 months or anytime in between. Once that is decided you need to pick four places that you wish to travel to. Remember that all these places that you want to visit should be near one another so that they are super easy to travel to. As well as, your budget for your trip is $7000. Procedure: 1. Go on Google (www.google.ca) and look at different places that you have always wanted to go to. Here are some questions that you can ask yourself: a. What is it about this place that makes me want to go there? b. Are there any other places that I want to visit that are close to this one? c.What are the kinds of activities that are offered for tourists in the areas? (1 Mark for each answer 5 marks total) How long are you planning on going for? ____2 Months_____________ Where are you going to go? 1. Germany 2. Poland 3. Denmark S. Jeannie Thompson EBUS 350/351 April 8, 2008 4. Belgium Activity #2: Flight Costs Now you need to come up with some costs on flights to the areas that you wish to visit. First decide which area you wish to start from and go from there. How much is the flight going to cost you? Are there any other choices from your list of places to visit that may be cheaper to start from? What is a location that you can afford? Remember the amount of your budget and keep that in mind. Procedure: 1.Click on these websites and find the most economical price for your first flight. a.www.expedia.ca b.www.travelocity.ca c.www.canuckabroad.com/cheapflights/cheapflights.shtml 2.So you are searching for your first initial flight… the one that takes you from Regina to your desired location. Lets say that your flight begins on July 2 nd, 2008… and you will be leaving from the same location that you are starting from but your return flight information will depend on how long you are planning on staying abroad. a.Cost of Flight b.Departure time/Arrival time… make sure that you also include the country that you are arriving in. c.Name of the Airline d.Is there a connecting flight? You need to have this information as well. e.Return flight: Departure time/Arrival time (1 mark for each answer 5 marks total) Cost of Flight Departure/Arrival Times Name of Airline Connecting Flight $1545.90 6am leave Regina, 7:50am arrive Frankfurt Northwest Airlines Minneapolis and Amsterdam S. Jeannie Thompson EBUS 350/351 April 8, 2008 Return: Departure/Arrival Times Total Marks: 1:50pm leave Frankfurt, 10:30pm Regina Activity #3: Where are you Staying? Now that you have your flight booked, you need to choose where you are going to stay. Remember that your budget is $7000. There may not be enough money in your budget to allow for hotel costs so there is always the choice of hostels. Hostels are places that tourists stay for a reduced rate. Largely referred to as 'backpacking', this form of travel is usually done on a budget and is not for the faint at heart (www.hostels.com/en/newtohostelling.html). When looking on the site and booking a hostel for the trip remember that you are just booking for yourself and that the cost should only be for one guest. Procedure: 1.Click on the following site for hostelling information: www.hostels.com 2.Fill in the following information: (1 mark for each answer 4 marks total) Name of the City/Town that you are Frankfurt staying in. Name of the Hostel. Frankfurt Hostel How long is your stay? 5 Nights What is the rate/night at the hostel? $37/night Total Cost $185 3.Are there any interesting qualities to the hostel (Ex. Has a pool, provides breakfast, etc.)… Write down the ones that surprise or excite you? (2 marks) v. Breakfast and linen are included in the price. vi. There are security lockers. vii. There is a bar right on site. S. Jeannie Thompson EBUS 350/351 April 8, 2008 viii. Internet Access ix. Security Lockers Activity #4: Currency In this activity you will be looking at the Exchange rates and the currency of your money in the country that you are visiting. If there is more than one country than just choose the first country that you will be heading to. This activity will give you an idea of how currency can differ and change from country to country. Procedure: 1.Click on the following web site to figure out the exchange rate. www.xe.com/ucc/ 2.Write down all the information that will be needed from the currency converter site. How much is a Canadian Dollar worth over there? Is the Canadian dollar worth less than their dollar or more? Canadian Dollar amount $1.00 Country of Interest Dollar amount $0.626 EUR How much can you get with $700 $438.264 EUR Canadian dollars? (1 mark for each answer 3 marks total) 3.Has the currency converter changed your mind for where you are going? Do you think that it is too expensive or are you ok with the amount of money that you can get with the exchange rate? (2 marks) S. Jeannie Thompson EBUS 350/351 April 8, 2008 Activity #5: Health/Travel Insurance When traveling abroad anything can happen and it’s always best to be completely prepared for those issues. In Canada we are lucky to have such a fantastic health care system but unfortunately that health care does not travel with us when we go somewhere. In this activity you need to get some information on Health and Travel insurance when traveling abroad. Take into consideration the amount of time that you are going to be gone and how long you are going to need extended insurance. Procedure: 1.Click on the following web site. http://www.insuremytrip.com/ca.index-1012-0-60075-0.html 2.You are looking for insurance that will suit you and your needs. Compare two different forms of insurance on the website and right some of those comparisons down in this table. (1 mark for each answer 7 marks) Company Plan Name and Terms Plan Type Total Policy Cost Trip Cancellation Emergency Medical Expenses Which do you choose? Insurance #1 Travel Underwriters Standard Emergency Travel Medical $60.00 Not available Up to $2,000,000 I chose this one! Insurance #2 TIC All Inclusive Package Package $211.00 $2000 $2,000,000 S. Jeannie Thompson EBUS 350/351 April 8, 2008 Activity #6: Preparing a Budget A key part of traveling abroad is having enough money to enjoy everything that you would like to do. Now remember that without a budget you may have the tendency to over spend. In this activity you are going to need to come up with a budget of what you are going to spend throughout your entire travels. You know the cost of your flight and of your accommodations so now you need to decide what is left over for food and leisure time. Always take into consideration the amount of time that you are going to be over traveling abroad. Procedure: 1.Click on the following web site. www.yourmoney.cba.ca 2.Go through the web site and read about budgeting and why you need to budget. Define the term BUDGET. What does budgeting do for us and who should budget? Answer these questions and print off your answers so they can be marked. (1mark for each answer 3 marks total) BUDGET organized way of managing finances. A budget is always flexible and changing when traveling. Helps us afford our short term and long term goals. 3.Click on the following web site and go through the order of the budget. See how well you can budget the money that you have coming in monthly. www.yourmoney.cba.ca/tsam/en/tsam/budget/reality/ 4.By using the information that you have acquired from the web site above you can now determine the budget that you are going to use for your trip abroad. Take into consideration that all of the expense amounts are just going to be estimates since there are no real accurate numbers other than the flight costs, the accommodations S. Jeannie Thompson EBUS 350/351 April 8, 2008 and the health/travel insurance amounts. Remember back to when you were looking at places to travel to… you were looking at all the sites that you would like to partake in when at the desired destination. The following table will help you keep track of the money that you have already spent and that you will be able to spend abroad. ***ANSWERS WILL VARY ACCORDING TO EACH STUDENT*** Expenses Estimated Budget Flight $1545.90 Accommodations $183.00 X 6 = 1098 Food $1440 Health/Travel Insurance $60.00 Leisure Activities $1000 Miscellaneous Spending $1500 ESTIMATED TOTAL $6643.90 (1 mark for each answer 7 marks total) 5.How much money should you keep aside for food? Calculate the amount of days that you are traveling and $30/day for food. A good way to save money while traveling is by buying your food from the local markets, which can be cheaper than from eating at restaurants everyday. However, you are going to want to do research on the cleanliness of the markets before you travel. (1 mark) ___48___ X $30.00 = __$1440_ 6.Calculate how much miscellaneous spending money you have left over by calculating the difference between the money left over from the cost of the flight, the accommodations, Health/travel insurance and food. What ever is left over can be used for the activities that you are looking forward to partaking in. Remember though… it would be nice to come home with some money left over in your bank account. This way you are not struggling till the first paycheck comes through. S. Jeannie Thompson EBUS 350/351 April 8, 2008 Activity #7: On Line Banking While traveling abroad the easiest way to do your banking is on-line. This can save you from a lot of headaches and can help you budget your money a lot better. By seeing what you are spending you money on daily can really help you see where you can save more often. This way of banking is useful when your bank cannot be found in the city that you are staying in. You can deposit money from other accounts into the one that you are using and check your balance all in one step. This tool is also useful when you are running out of money and you need someone to deposit some more funds into your account for you. Procedure: 1.Click on the following web site and provide answers to the questions below. (10 marks total) www.bankrate.com/brm/olbstep2.asp What is Online Banking? The use of computer technology to take care of banking tasks and transactions. What are 4 advantages with online banking? i) Convenience ii) Transaction Speed iii) Efficiency iv) Effectiveness What are 4 disadvantages with online banking? i) Start-up may take time ii) Learning Curve iii) Bank Site Changes Iv) The trust thing 2.“Online banking isn't out to change your money habits. It simply uses today's technology to give you the option of bypassing the time-consuming, paper-based S. Jeannie Thompson EBUS 350/351 April 8, 2008 aspects of traditional banking in order to manage your finances more quickly and efficiently”. How safe/secure is online banking? Is there anything that we should worry about when doing our banking over the Internet? Come up with some pros and cons for online banking. PROS: CONS: What are some crimes that can be committed to online bankers? Go to this web site and describe 3 key areas of crime that an online banker needs to be aware of. What is so important about these online crimes? www.ckfraud.org/whitecollar.html 1. Bank Fraud To engage in an act or pattern of activity where the purpose is to defraud a bank of funds. 2. Computer Fraud Where computer hackers steal information sources contained on computers such as: bank information, credit cards, and proprietary information 3. Blackmail A demand for money or other consideration under threat to do bodily harm, to injure property, to accuse of a crime, or to expose secrets. Activity #8: Planning Activities S. Jeannie Thompson EBUS 350/351 April 8, 2008 While planning your trip abroad you are going to want to have an idea of where you are wanting to go to and what kinds of activities that you are going to want to partake in. However, you are going to want to remember that flexibility is also key since there will be issues like lack of money, meeting people that have ideas that sound like a lot of fun and transportation delays. Traveling is never going to be as smooth as it looks on paper… there will always be something that will delay you or get in your way but go with the flow and enjoy your time anyway!! Go and read this website for some ideas to help you plan your trip… www.canuckabroad.com/backpack/planning.shtml. Procedure: 1.Go back to Google (www.google.ca) and look up the places that you want to go to. Think about what the city/town or country has to offer and what are the main tourist attractions. Describe 3 places that you are going to go see and why. How much do they cost? (3 marks for each answer 9 marks total) ***Students Answers will Vary*** Activity #9: Career Opportunities S. Jeannie Thompson EBUS 350/351 April 8, 2008 Through your travels you have learnt a lot about the culture and the way that the people do business in the economy. You have come to the understanding that you would like to come back and work in the chosen country. You have grown to love everything that the country has to offer and cannot see yourself coming back to Canada for very long. However, you need to come up with some way of making money. What kinds of businesses can you open/work for? Why do you think that a new business will succeed? These are just a couple questions that you are going to need to ask yourself when coming up a business plan. To begin the search for a job, Google career opportunities for the country that you are looking to get a job in (Ex. Career Opportunities for Germany). Through this Google search you will find a number of career opportunities within the country that you want to go to. You can be more specific and choose a city if you like. Fill in the information below: *** Students Answers will Vary*** JOB #1: Position: Employer: Qualifications/Requirements/Education: Salary: JOB #2: Position: Employer: Qualifications/Requirements/Education: Salary: BUSINESS OPPORTUNITY: What is the opportunity? S. Jeannie Thompson EBUS 350/351 April 8, 2008 Is there a demand for this opportunity? Where will you open your business? Are there a lot of these kinds of businesses already in this community?