[ER-ENG-01] Analysis of Economic Framework Data
(Kröll, M./Strothmann, M.)

Paula Groß is 17 years old and has just managed to graduate from secondary school. She found it very difficult because she had considerable problems with science related subjects. Her parents told her that school is not crucial for professional success.

For years, she has been meeting regularly with her friends Maria and Hans for creative cooking evenings. Now the three of them want to turn their shared hobby into a career. Since Paula and her friends don’t have a plan for how to realise their project yet and whether their idea might even have a chance of success in their region, they decide to look into the region’s realities.

Learning Goals

Rough objective: The young people will be able to identify and analyze economic framework data of their country/ region in order to derive indicators for employment opportunities and ideas. At the same time, the young people will acquire entrepreneurial and digital skills, which will be incorporated into their personal development plan.

Detailed objectives:

• The young people can decide for themselves from which perimeter economic data is relevant to them.
• The young people can determine the economic performance of their targeted region.
• The young people can analyse the demographic situation in the form of the distribution of age groups in the location using the attached template.
• The young people will be able to classify which businesses/ industries are headquartered in the targeted location and which businesses/ industries operate in the targeted location.
• The young people are able to determine the average cost of living in the targeted location.
• The young people can analyse the unemployment rate, average education level, disposable labour force, and average household income of the targeted location using the attached template.
• The young people can classify information about the number of different nationalities of people residing in the location using the attached template, inferring cultural preferences on demand.
• The young people can assess the potentials and risks of the location based on the data collected about the economy, businesses and society.

The young people can evaluate the personal suitability of the location for their business idea by comparing the opportunities and risks of the location with their requirements for a location to succeed in their business