Economics is considered part of the elementary social studies curriculum. The classroom economy can serve as a fun way for students to act as both consumers and economists in a real world setting. A well-run classroom economy has the ability to teach students economic principles while also serving as a behavior management system in which students are essentially responsible for themselves.
How does it work?
Students will begin to earn classroom cash starting on day one. Students can earn money for getting to school on time, turning in homework, on task behavior, following class rules and performing assigned classroom job. On the flip side, students can also be fined for missing/late/incomplete homework, misbehaving in and out of the classroom, off task behavior and/or not performing their job responsibilities.
How do students keep track?
Students will earn a weekly paycheck. They will have the banker check their Credit/Debit slips they have kept throughout the week. Then cash their check and give them their credits or debit their fines. Students will be given a class wallet to keep all money safe.
What are classroom jobs?
The main way to earn money is by performing a classroom job. These jobs were designed to help students learn responsibility and respect for their classroom community. Students will apply for the job they wish to perform. This job will be kept for one month and changed to give other students the opportunity to change jobs and experience various responsibilities.
What is the money used for?
Students will use their money to purchased items at our class store. In May, we will have an auction. All donations are welcomed for the store and auction.