I love our Classroom economy, and the kids do too!! It combines many of our curriculum goals from Social Studies and Math. It allows students to learn how to earn money, save money, and pay their bills. They will be adding, subtracting, multiplying, and dividing with money all year long. It also helps them learn about supply and demand and help students understand how economies work and change, and what drives those changes.
How students earn money
All students will have a job. At the beginning of the year these jobs will be randomly assigned. Students will be responsible for their job every day, and will get paid daily.( I will explain how they will get paid later) If they do not their job they do not get paid. As the year goes on students will be allowed to write requests for different jobs.
How students get paid
Students will have a account book that will be on their desks. They will have a check sheet for credits and debits of money equaling one dollar five dollars and ten dollars. I will put a tally mark for credits and debits.
What students will do with their money
Students must pay rent for their desk. Every student's rent will be the same. Rent will be prorated on months that we are not in school the whole month.
They will be able to use remaining money to buy things from the classroom store. Things in the store range from passes for homework, lunch passes, recess rentals, items in the store, comfy chairs in the room, seat cushions for chairs. .