ECONOMY CLOSE WRAP UP LESSON PLAN ACTIVITIES ECONOMICS WORKSHEETS ELEMENTARY SKILLS PROGRAM COURSE BASIC TEACHING LEARNING SAMPLE EXAMPLE HELP WORK STUDENTS TEACHER CLASS EXERCISE ONLINE GUIDE ACTIVITY

 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.

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...

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

 CLOSING ECONOMY Printable lesson worksheet and activity.

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