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Teach and learn about creating a mini classroom economy.
 
 

MONEYINSTRUCTOR-NOMICS:
CLASSROOM ECONOMY

 

A series of lessons for creating and implementing a classroom economy. Students learn an introduction to economics by being actively involved in a mini economy, named MoneyInstructor-nomics.

This 10-week unit is compressed into 15 lessons.  Each lesson includes background, objectives for the teacher, a detailed, sep-by-step plan, a selection of student activities, questions, journal topics, examples, or templates. The lessons begin with an overview for the teacher, sample parent letter, background, objectives, and class activities.

 

 

 

CREATING A CLASSROOM ECONOMY
LESSONS AND WORKSHEETS

CLASSROOM ECONOMY INTRODUCTION

 

Classroom Economy Introduction

This lesson introduces the economics unit which will take students through the process of introducing currency into a classroom economy, applying for classroom jobs, and opening a business.

 

ATTACHING VALUE TO MONEY

Attaching Value to Money

An introduction to attaching value to money (the MoneyInstructor-Buck).  Students learn about barter and using money as an exchange for goods and services.

 

INTRODUCTING CURRENCY

 

Introducing Currency into the Economy with Part-Time Jobs

A lesson on currency, the economy, and part-time jobs.  Students learn to associate part-time jobs with currency that they earn.

 

GETTING A JOB

Getting a Job

Students generate a list of classroom jobs, fill out job applications, and interview for jobs.

PAYDAYS

Paydays

Students receive payment for their part-time job and begin to keep records of incoming and outgoing funds on an income and expense log.

 

GOODS AND SERVICES

Goods and Services

This lesson will help students distinguish between goods and services.

 

SUPPLY AND DEMAND

Supply and Demand

This lesson focuses on the ways that an increase in supply can effect demand and on the ways that an increase in demand can effect future supply.

 

TAXES

Taxes

Learn about sales tax, federal and state income tax, and the services that are paid for by tax dollars.

 

STARTING YOUR BUSINESS

Starting your Business: Prototypes and Service Demonstrations

Students will start their business by designing prototypes and working on service demonstrations.

 

BUSINESS EXPENSES

Business Expenses

Learn about many of the costs and expenses associated with starting a business.  Explore business licenses, locations, patents, taxes, and partnerships.

 

FOCUS GROUPS, MARKET SURVEYS, AND PRICING

Focus Groups, Market Surveys, and Pricing

Students will participate in focus groups and will conduct a market survey to determine product or service pricing.

 

PRODUCTION

Production: Assembling a Product, Preparing a Service

Students assemble products and prepare services and will discuss the terms: profit, competition, inventory, specialization, productivity, efficiency, and assembly line.



ADVERTISING

Advertising

Students learn about the different forms of advertising and will choose a way to advertise their product or service.



CLASS BAZAAR

Class Bazaar

The bazaar is the big event that students have been working towards.  Students will buy and sell their products and services.

CLOSING THE ECONOMY

Closing the Economy

Students figure their total profit from sales and pay a tax on it.  Also, they will participate in a white elephant auction.

   

 

 

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To teach and learn money skills, personal finance, money management, business, careers, and life skills please go to the Money Instructor home page.

Lessons appropriate for: 2nd 3rd 4th 5th 6th 7th Graders.  Second Grade - Third Grade - Fourth Grade - Fifth Grade - Sixth Grade - Seventh Grade - K12 - Special Education - Young People

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