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Students learn basic economics with a classroom economy.

 

 


MONEYINSTRUCTOR-NOMICS
CLASSROOM ECONOMY:

Unit Wrap Up - Closing the Economy

In this final lesson, your students will figure their total profit from sales and pay a tax on it.  They will also participate in a white elephant auction and write a reflection on their experiences in MoneyInstructor-nomics.

Teaching Objectives:

  • Students will calculate their profit from the MoneyInstructor Bazaar.
  • Students will pay a business tax on their profit.
  • Students will participate in a white elephant auction.
  • Students will write a reflection on their MoneyInstructor-nomics experience.

Suggested Grades:

Fourth Grade - Fifth Grade - Sixth Grade

 
 

 

CLOSING THE ECONOMY LESSON PLAN

 


Teaching Materials

  • Lesson - Closing the Economy Lesson (see below for printable lesson).




Lesson Excerpt:

Activity:

1.  Students must now use their MoneyInstructor-nomics Business Tax From to calculate their business profit.   The basic formula is:

Number of products/services produced          _________
Average price                                       X    __________
                                                                       
                           Equals Total Sales          _____________

Number of products/services produced           __________
Total expense per item                             X     ___________

                        Equals total expense              ______________

Total sales                       ____________
Minus total expense    -  ____________
Equals total profit           ____________

 

Total profit x 5%  = MoneyInstructor-nomics tax

 

2.  The treasurer or tax collector will collect student tax forms along with their tax payment.

 

Continued...




 


Lesson Printable Materials - Worksheets

Print out the teaching lesson pages and exercise worksheets for use with this lesson:
  

CLOSING ECONOMY

Closing the Economy Lesson *

Printable lesson worksheet and activity.

 

 

 

 

 

 

 

 

Back to more Classroom Economy Lessons and Worksheets

 

 


 

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