By now, you've probably heard the buzz about our classroom economy. It's certainly been one of the most highlighted learning experiences since the start of the new school year.
In a nutshell, our classroom economy provides an opportunity for students to learn the principles of economics and valuable financial life skills in an experiential way while promoting positive behavior. It not only teaches financial literacy and discipline but also the rewards that go with it. Students were very excited to learn that we'll be using it in The Hive for the entire school year. Students are:
- Taking part in a simulation of real-world economic activity
- Learning the responsibility that comes with completing a job and the value of earning a paycheck
- Learning how to budget their spending and make scheduled payments (i.e. weekly rent and utilities) as well as unexpected expenses (i.e. fines)
- Understanding the importance of saving money to reach their goals
- Discovering that every decision has an opportunity cost
- Learning that the cost of goods and services fluctuates based on supply and demand and the rate of inflation
- Preparing to be responsible citizens in our nation’s economic system
One of the benefits of a classroom economy is that our teachers follow the real world costs of rent and salaries. Another reason is that it keeps our class organized because the teachers don't have to do all the work of keeping our classroom neat and clean. One final reason is that the real-world costs of things are going up and down all the time and our classroom economy is preparing us for that. - @TheScienceGeek
Our classroom economy will help us be better mathematicians because we have an actual bank in our system. The bankers use their knowledge of addition and subtraction with dollars, and they pay salaries and collect rent each week. Even if you're not the banker one week, you still have to use addition and subtraction skills to keep track of your money and manage it so that you can use your money to buy rewards. - @Daisy
There are many benefits of having a classroom economy. One is that you can get awesome rewards for going above and beyond expected behaviors (even though the rewards are very pricey). I love how we pay rent and collect salaries each week and when we have to pay a fine, we don't get called out. I absolutely love this - it is such a creative activity. - @magician-of-icecream
I am learning that an economy is basically a system of money. Once the government prints the money, it goes to the banks and then gets borrowed by people to pay for things from other businesses. The businesses can then use that money to buy things and pay their workers. The workers use the money to buy stuff from other businesses and it keeps repeating. - @RockHam
One of the benefits of having a classroom economy is that you get to experience how real life works. For example, we have to pay rent and get a job that pays us a salary each week. Some jobs are easy and some are trickier than others and each job pays a salary depending on the type of job. - @softballgirl123
I am learning that an economy is like a chain of money. It all depends on what you spend and save. An economy is also kind of like an environment mainly because many people are part of an economy and use it together. -@booksrule
One of the benefits of having a classroom economy is that you learn how to figure out how to manage your money to spend on things you want (classroom rewards) and things you need (rent). - @soccerqueen6
Having a classroom economy is helpful because you will need to know how to spend your money and save it later in life. Let's say you work at Chipotlé and you're saving up for a new car. You have to learn how to save up and not get tempted by certain other offers. Once you get enough money, you should get a little more so that you can pay monthly for the car. You also have to do the same thing for a house and any other expensive items. To sum it up, our classroom economy is good because it gives us practice in managing money. - @RV17
One of the benefits of our classroom economy is that if you do your job each week, you get paid a salary. Also, you have to manage your money so that you don't get fined or can pay your weekly rent. You also learn how to save up money for rewards like Pajama Day, reserving the couch for a day, etc. These are just some of the benefits. - @Burt
One of the benefits of having a classroom economy is that you will have skills for when you get a job. It helps us learn how to manage money and to get used to doing different kinds of jobs. It's also good for teachers because we help them get the classroom organized and ready for the next day. - @ArcticFox
There are lots of benefits of having a classroom economy. First of all, we learn responsibility because we have to keep track of our money and take care of it. We also earn the trust of our classmates by paying our rent on time, paying fines if we owe them, and collecting our salaries for doing our jobs. - @writingmachine
I think our classroom economy will help us be better mathematicians for a couple of reasons. My first reason is that in the real world, you always need to know how much money you have and you have to count it. Another reason is if you're a banker, landlord, or store manager, you'll have to count money to make sure you are either paying people the right amount of money or collecting the right amount of money. - @Gamerhead41
One benefit of a classroom economy is that it teaches us to problem-solve and to spend our money wisely. Also, it helps us understand math better because we have to count how much money we have in our wallets and how to add or subtract money for fines or bonus cash rewards. This is helping us learn how a real economy works. - @Puppyonline
The classroom economy is teaching us how to manage our own money. It's also teaching us to become more independent and to work as a team to ensure we have a clean and organized learning environment. - @HarryPotter
One benefit of a classroom economy is that you learn how to spend your money. For example, you must know how to manage your money because you have to have enough left over to pay rent at the end of every week. Another reason is that it helps us grow in our independence. For example, you have to remember to do your job yourself otherwise you won't get paid. - @softballpiggy
I think our classroom economy is going to be a helpful experience because our classroom works like the real world and because it encourages everyone to be more controlled and well-behaved. We get paid a salary each week, we have to pay rent, sometimes we have to pay fines, and sometimes we can earn bonus cash by going above and beyond the expectations. Our rent and the cost of rewards can go up or down depending on the rate of inflation, just like the real economy. - @Potato
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