- Participate in a classroom economy designed to mimic real world economic activity
- Compare economic systems over time and history
- Evaluate the importance of classroom jobs and daily responsibilities
- Perform classroom jobs to earn daily salaries
- Budget their money and balance their "checking accounts"
- Use a decision making model to make consumer decisions
- Reflect on the importance of saving money
- Discover that every decision has an opportunity cost
- Observe consumer behavior to understand the law of demand
- Discover how inflation works and the effect it can have on the classroom economy
- Study economic trends in the classroom economy
By the end of the year, students have learned diverse economic concepts while participating in an economy that mimics activity in the real world. They have become responsible and well-informed consumers who make good decisions and are familiar with typical consumer behavior.
You may decide that they are now ready to become entrepreneurs. During the last month of school, I allow students to sell goods they have created themselves. Students can choose what to make and sell in the class store. They need to determine an appropriate price based on the amount of money classmates are willing to pay. Students can also market their products by creating advertisements on poster board or even filming commercials.
Students will learn how the economy works in the classroom. They will also define classroom jobs and attach daily salaries to those positions. Credits and debits will be introduced.
Students will be introduced to the roles of banker and cashier. They will also learn to balance their credits and debits.
Students will use the class store to learn about economic concepts like saving, opportunity cost, supply and demand, and inflation.