Category: Real Estate

EconVenture Discussion – Chapter #02
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About
EconVenture (Economics + Adventure) Discussion encourages you to explore economics from the perspective of five economic agents: an individual, a small business owner, a major corporation, a fiscal policy maker, and the monetary policy maker and engage in a discussion with your peers.
Estimated Time
An estimated 1 hour is needed to complete this activity.
Prompt
Economics, Macroeconomics, and Microeconomics
Economics is the study of how humans make decisions in the face of scarcity.
Macroeconomics looks at the economy as a whole. It focuses on broad issues such as growth of production, the number of unemployed people, the inflationary increase in prices, government surpluses and deficits, and levels of exports and imports. On the other hand, microeconomics focuses on the actions of individual agents within the economy, like households, workers, and business.
The key is that macroeconomics and microeconomics are not separate subjects, but rather complementary perspectives on the overall subject of the economy.
Given this, we will include both what are traditionally microeconomic agents (individuals, small businesses, and major corporations) and macroeconomic agents (fiscal policy makers and monetary policy makers) as agents that you select each week.
Economic Agents
There are five economic agents that you can select from:
Individual 👧🏾 👦🏼
Small business owner 👩🏽‍💼 👨🏽‍🍳
Major corporation 🏭 🏢
Fiscal policy maker 📜🏛️
Monetary policy maker 💵🏦
Individuals
Individuals are people like you and me. When we hear economics, concepts like scarcity, opportunity costs, utility, marginal benefit, marginal cost, supply and demand, and price and quantity, may come to mind.
Small businesses and Major corporations
Small businesses and major corporations are firms whose primary goal is to earn a profit, which means their total revenues are greater than their total costs. Firms differentiate on size and “size is determined by the amount of average annual receipts or by the number of employees.” See Part I: The Government Definition of a “Small Business”Links to an external site. and Table of size standards (sba.gov)Links to an external site. for more information on how this differentiation is determined.
Fiscal policy makers
Lastly, the government consist of fiscal policy makers and monetary policy makers. Examples of fiscal policy makers include federal, state, and local government elected officials and appointed officials.
Federal elected officials include Members of the U.S. House of Representatives, U.S. Senators, and the President. Appointed officials include Commissioners of the Federal Trade CommissionLinks to an external site., the Director of the Consumer Financial Protection BureauLinks to an external site., and the National Labor Relations BoardLinks to an external site..
State elected officials include members of state legislatures and statewide elected officials like state governors and state attorney generals. Appointed officials include leaders of departments, bureaus, and boards that oversee sectors of the economy, like the California Department of Real Estate, Links to an external site.CA Department of InsuranceLinks to an external site., California Bureau of Automotive Repair,Links to an external site. and Medical Board of CaliforniaLinks to an external site., to list a few.
Local elected officials include city council members, city mayors, and local board commissioners and trustees. Appointed officials include leaders of joint powers authorities, like San Diego County Association of GovernmentsLinks to an external site. or East County Advanced Water Purification JPALinks to an external site..
Monetary policy maker
As for monetary policy makers, they are called Central Banks. The Federal ReserveLinks to an external site. is the Central Bank of the United States.
Once you select an economic agent and read their very brief perspective on a chapter topic, you need to expand on the perspective with 2 or more sentences. How you “expand on the perspective” is open-ended, so there is no “right” or “wrong” answer. You are encouraged to bring in key concepts, terms, or equations from the chapter relevant to the economic agent, list another relevant question the economic agent would pose, or share a resource for the economic agent.
After your Post, you need to Reply to at least one peer by positively validating their post (1 sentence), declare whether you agree/like or disagree/dislike with their expanded perspective of the economic agent (at least 1 sentence), and state at least one reason why you agree/like or disagree/dislike (at least 1 sentence).
Instructions
Step 0: View Embedded PowerPoint
View embedded PowerPoint
Go to the slide(s) for the specific Week/Chapter of this discussion
Step 1: Select an Economic Agent You are Interested In
Individual 👧🏾 👦🏼
Small business owner 👩🏽‍💼 👨🏽‍🍳
Major corporation 🏭 🏢
Fiscal policy maker 📜🏛️
Monetary policy maker 💵🏦
Step 2: Read the Perspective of your Selected Economic Agent
For each chapter, each economic agent has a provided perspective.
Each perspective is a simplification of what an economic agent would think about the chapter topic.
Note: the simplified perspective necessarily ignores details and complexity of the chapter to allow you to focus on expanding the perspective.
Step 3: Write a Post that Expands on the Perspective
Declare which economic agent you selected (1 sentence)
Expand on the perspective of your selected economic agent (2 or more sentences).Recall: How you “expand on the perspective” is open-ended, so there is no “right” or “wrong” answer. You are encouraged to bring in key concepts, terms, graphs, charts, or equations from the chapter relevant to the economic agent, list another relevant question the economic agent would pose, or share a resource for the economic agent.
Step 4: Reply to a Peer
In 3 or more sentences, reply to a peer. Your reply, at a minimum, should include the following.
Positively validate your peer’s post (1 sentence).
Declare whether you agree/like or disagree/dislike with their expanded perspective of an economic agent (at least 1 sentence).
State at least one reason why you agree/like or disagree/dislike (at least 1 sentence).
Step 5: Proof-read for Spelling and Grammar
Please proof-read your work before submitting.
I do not grade on spelling and grammar. However, I will note whether your spelling and grammar is good or needs improvement.
If you see a needs improvement mark, please schedule an appointment with the Tutoring Center (cuyamaca.edu)Links to an external site..
Frequently Asked Questions
Do I have to choose the same economic agent week after week?
No. You have the flexibility to choose which economic agent’s perspective you will expand upon each week. In other words, feel free to explore a different economic agent each week.
Can I see my peers’ posts and/or replies before I post?
No. You will only be able to see your peers’ posts and/or replies after you have submitted your own post.
Can I write more than the minimum number of required sentences?
Yes. You are welcomed to write more than the minimum number of required sentences for a post or reply. I appreciate it when students contribute to a robust discussion.
Can I reply to more than one peer?
Yes. You are welcomed to reply to more than one peer. Again, I appreciate it when students contribute to a robust discussion.
Can I earn extra credit for additional sentences or replies?
No. I do not offer extra credit in any of my courses. I never have and I never will. When I teach my last class (sometime in the late 2040s, maybe 2050s), I will offer extra credit just to demonstrate to my students at the time to “never say never” :-).

About
During the Video Recording, the professor presents on a topic using lecture slides and students will watch to learn about the topic.
After watching the recording, you select a question to answer, and submit your assessment to the professor for evaluation/grading.
Estimated Time
An estimated 2 hours is needed to complete this activity.
Video Recording (Chapter 1 is from start to 33:45-minute mark)
Please note that Chapter 1 is covered from beginning to 33:45 minute mark. And Chapter 2 begins at 33:45 minute mark through end of recording.
Instructions
Step 1: Watch Video Recording.
In your assignment submission, clearly state which meeting recording you watched.
Example: “I watched the Meeting Recording on the topic of “International Trade”.”
Step 2: Respond to a Specific Question.
Select 1 of the following questions to respond to:
What did you find most interesting about the meeting?
What did you find most relevant to your daily life about the meeting?
What would you like to learn more about related to the meeting topic?
What did you find perplexing or challenging about the meeting topic?
Step 3: Clearly State your Question.
Be sure to clearly state this question in your assignment submission.
Using a question provided in the prior step, or a question that you ask yourself, be sure to clearly state this question in your assignment submission.
Step 4: Answer Question with 4 Sentences.
Write at least 4 sentences answering the question you selected.
Submission Template
To help you get started, below is the text outline. You can copy and paste this text to help organize your assignment submission.
### Start Copy and Paste ###
Meeting
[Declare the following statement:]
I watched the recording on [Topic].Example: “I watched the Meeting Recording on the topic of “International Trade”.”
Question [Choose 1 of the 4 questions below to answer.]
What did you find most interesting about the meeting?
What did you find most relevant to your daily life about the meeting?
What would you like to learn more about related to the meeting topic?
What did you find perplexing or challenging about the meeting topic?
Response to Question
Sentence 1.
Sentence 2.
Sentence 3.
Sentence 4.
### End Copy and Paste ###
Frequently Asked Questions
Why don’t you have real-time online lectures?
I don’t host real-time online lectures because our course is fully asynchronous online. Fully asynchronous online means there is no fixed day and time each week that we are required to meet online.
Are these video recordings from a prior semester?
Yes, these are video recordings of real-time online lectures from my Fall 2022 ECON 120 Principles of Macroeconomics course.
Can I schedule an appointment with you to discuss the video recording?
Yes, if you still have questions about concepts after watching the video recording, please feel free to schedule an appointment with me at www.ipolisci.com/appointmentLinks to an external site.. I am happy to chat with you in real-time online to answer questions, clarify concepts, and help you.
Rubric
Rubrics are “a guide listing specific criteria for grading or scoring academic papers, projects, or tests”. Every assessment in the course has a rubric. A table of this assessment’s rubric is provided below for students. However, this table is not accessible for some screen readers.
For students using a screen reader, an accessible version of the rubric table can be accessed by scrolling down further or clicking on the three vertical dots in the upper right corner of the assessment and selecting “Show Rubric”.
If you need additional help, visit How do I view the rubric for my assignment?Links to an external site.
RubricCriteria
Ratings
Points
Participation Sentence
Watched Recording
Missing
30
0
Question Stated
Yes
Missing
30
0
Answer to Question: # of Sentences
4
3
2
1
Missing
40
30
20
10
0
Rubric
Video Recording
Video Recording
CriteriaRatingsPts
This criterion is linked to a Learning OutcomeParticipation Sentence
30 ptsWatched Recording
0 ptsMissing
30 pts
This criterion is linked to a Learning OutcomeQuestion Stated
30 ptsYes
0 ptsMissing
30 pts
This criterion is linked to a Learning OutcomeAnswer to Question: # of Sentences
40 pts4
30 pts3
20 pts2
10 pts1
0 ptsMissing
40 pts
Total Points: 100

About
During the Video Recording, the professor presents on a topic using lecture slides and students will watch to learn about the topic.
After watching the recording, you select a question to answer, and submit your assessment to the professor for evaluation/grading.
Estimated Time
An estimated 2 hours is needed to complete this activity.
Video Recording (Chapter 1 is from start to 33:45-minute mark)
Please note that Chapter 1 is covered from beginning to 33:45 minute mark. And Chapter 2 begins at 33:45 minute mark through end of recording.
Instructions
Step 1: Watch Video Recording.
In your assignment submission, clearly state which meeting recording you watched.
Example: “I watched the Meeting Recording on the topic of “International Trade”.”
Step 2: Respond to a Specific Question.
Select 1 of the following questions to respond to:
What did you find most interesting about the meeting?
What did you find most relevant to your daily life about the meeting?
What would you like to learn more about related to the meeting topic?
What did you find perplexing or challenging about the meeting topic?
Step 3: Clearly State your Question.
Be sure to clearly state this question in your assignment submission.
Using a question provided in the prior step, or a question that you ask yourself, be sure to clearly state this question in your assignment submission.
Step 4: Answer Question with 4 Sentences.
Write at least 4 sentences answering the question you selected.
Submission Template
To help you get started, below is the text outline. You can copy and paste this text to help organize your assignment submission.
### Start Copy and Paste ###
Meeting
[Declare the following statement:]
I watched the recording on [Topic].Example: “I watched the Meeting Recording on the topic of “International Trade”.”
Question [Choose 1 of the 4 questions below to answer.]
What did you find most interesting about the meeting?
What did you find most relevant to your daily life about the meeting?
What would you like to learn more about related to the meeting topic?
What did you find perplexing or challenging about the meeting topic?
Response to Question
Sentence 1.
Sentence 2.
Sentence 3.
Sentence 4.
### End Copy and Paste ###
Frequently Asked Questions
Why don’t you have real-time online lectures?
I don’t host real-time online lectures because our course is fully asynchronous online. Fully asynchronous online means there is no fixed day and time each week that we are required to meet online.
Are these video recordings from a prior semester?
Yes, these are video recordings of real-time online lectures from my Fall 2022 ECON 120 Principles of Macroeconomics course.
Can I schedule an appointment with you to discuss the video recording?
Yes, if you still have questions about concepts after watching the video recording, please feel free to schedule an appointment with me at www.ipolisci.com/appointmentLinks to an external site.. I am happy to chat with you in real-time online to answer questions, clarify concepts, and help you.
Rubric
Rubrics are “a guide listing specific criteria for grading or scoring academic papers, projects, or tests”. Every assessment in the course has a rubric. A table of this assessment’s rubric is provided below for students. However, this table is not accessible for some screen readers.
For students using a screen reader, an accessible version of the rubric table can be accessed by scrolling down further or clicking on the three vertical dots in the upper right corner of the assessment and selecting “Show Rubric”.
If you need additional help, visit How do I view the rubric for my assignment?Links to an external site.
RubricCriteria
Ratings
Points
Participation Sentence
Watched Recording
Missing
30
0
Question Stated
Yes
Missing
30
0
Answer to Question: # of Sentences
4
3
2
1
Missing
40
30
20
10
0
Rubric
Video Recording
Video Recording
CriteriaRatingsPts
This criterion is linked to a Learning OutcomeParticipation Sentence
30 ptsWatched Recording
0 ptsMissing
30 pts
This criterion is linked to a Learning OutcomeQuestion Stated
30 ptsYes
0 ptsMissing
30 pts
This criterion is linked to a Learning OutcomeAnswer to Question: # of Sentences
40 pts4
30 pts3
20 pts2
10 pts1
0 ptsMissing
40 pts
Total Points: 100

Please Note: Once your assignment is submitted and graded, the grade will be final, no re-submissions will be allowed.
Questions:
CHAPTER 9 (Part 1 & 2) – Real Estate Lenders and the Secondary Mortgage Market
1. What does FICO stand for? What is a FICO score? What is the range of FICO scores?
2. Who are the large institutional Lenders? Who are the noninstitutional lenders? What is the difference between the two? What types of loans does each lender specialize in?
3. Compare & contrast the three types of government-backed loans. Name a few advantages and disadvantages of each program.
4. Where does the CAL-VET program get the money needed in order to lend out?
5. What is the secondary mortgage market? Who or what are Fannie Mae, Ginnie Mae and Freddie Mac? What is a conforming loan? What is a portfolio loan?

For this project, you will be taking on the role of a real estate investor. You may and should use resources to complete this project. You are buying the home where you now live from its current owners. You will take the title in your individual name and want the property to go to me after you pass away. Upon buying the property, you are going to lease this property to your
favorite celebrity at market rent and terms for a period of one year.
1. Prepare the necessary documents to accomplish the above. The documents should be complete and signature-ready.
2. List at least five precautions you should take and why it is important that you do so.
3. Explain in detail why you used each of the specific documents (forms) you used.
4. Explain in detail how you found the necessary information to complete this project.
5. Explain in detail how you determined how much rent to charge.

Please Note: Once your assignment is submitted and graded, the grade will be final, no re-submissions will be allowed.
Questions:
CHAPTER 9 (Part 1 & 2) – Real Estate Lenders and the Secondary Mortgage Market
1. What does FICO stand for? What is a FICO score? What is the range of FICO scores?
2. Who are the large institutional Lenders? Who are the noninstitutional lenders? What is the difference between the two? What types of loans does each lender specialize in?
3. Compare & contrast the three types of government-backed loans. Name a few advantages and disadvantages of each program.
4. Where does the CAL-VET program get the money needed in order to lend out?
5. What is the secondary mortgage market? Who or what are Fannie Mae, Ginnie Mae and Freddie Mac? What is a conforming loan? What is a portfolio loan?

Please Note: Once your assignment is submitted and graded, the grade will be final, no re-submissions will be allowed.
Questions:
CHAPTER 9 (Part 1 & 2) – Real Estate Lenders and the Secondary Mortgage Market
1. What does FICO stand for? What is a FICO score? What is the range of FICO scores?
2. Who are the large institutional Lenders? Who are the noninstitutional lenders? What is the difference between the two? What types of loans does each lender specialize in?
3. Compare & contrast the three types of government-backed loans. Name a few advantages and disadvantages of each program.
4. Where does the CAL-VET program get the money needed in order to lend out?
5. What is the secondary mortgage market? Who or what are Fannie Mae, Ginnie Mae and Freddie Mac? What is a conforming loan? What is a portfolio loan?

CHAPTER 8 – Introduction to Real Estate Finance:
1. What is Leverage? What is Usury? What is an Alienation Clause?
2. Describe the three types of promissory notes. What are their differences?
3. What is hypothecation? What is a deficiency judgment?
4. Name the three parties to a Deed of Trust. Describe each party (who are they)? Why do lenders in California prefer Deeds of Trust over Mortgages? Be specific.
5. Explain all of the steps that a lender must take to initiate a foreclosure once the borrower defaults.
Please number your responses to match the questions.

Please Note: Once your assignment is submitted and graded, the grade will be final, no re-submissions will be allowed.
CHAPTER 8 – Introduction to Real Estate Finance:
1. What is Leverage? What is Usury? What is an Alienation Clause?
2. Describe the three types of promissory notes. What are their differences?
3. What is hypothecation? What is a deficiency judgment?
4. Name the three parties to a Deed of Trust. Describe each party (who are they)? Why do lenders in California prefer Deeds of Trust over Mortgages? Be specific.
5. Explain all of the steps that a lender must take to initiate a foreclosure once the borrower defaults.
Please number your responses to match the questions.

Please Note: Once your assignment is submitted and graded, the grade will be final, no re-submissions will be allowed.
Questions:
CHAPTER 14 – Introduction to Taxation
1. Who is the County Assessor for San Diego County? Who is the County Tax Collector for San Diego County? Yes, you must name the two names !
2. What is an Ad valorem tax? 3. Describe in detail what Proposition 13 is and how property taxes are figured from it.
4. What is the fiscal year for San Diego County? When are property taxes due? When are they delinquent? (For both installments).
5. What are the special assessments, listed on the property tax bill ? Be Specific. Who or what is a Mello-Roos ?