Economics is the focus of our new social studies unit. Students are learning by doing with our "token economy" We have brainstormed a list of ways to earn a dollar (this is pretend money), like being in school on time, signing up for "help wanted" during inside recess, earning a "drop" in the bucket, etc. We also created a list of reasons to have to pay a dollar like forgetting to turn in your homework or moving your clip to yellow. Our money will be saved until the end of the month when we will have a classroom sale. The pretend money can be spent on "needs" or "wants". I will have things like glue, crayons, books, multiplication flash cards, etc. as things that we need in the classroom. I'm asking for donations for the "wants" part of the sale. Typically parents send in things like; cans of soda, gel pens, bouncy balls, dollar store type toys or toys that your child no longer plays with, or candy. Children that have saved or earned more money will have more money to spend at the sale. Supply and demand will play a big part in our sale. Very popular items like a Taylor Swift poster may sell for $30 while a bouncy ball may sell for only $1. Our sale will be January 31. In about a week we will introduce the ideas of taxes and insurance. Taxes have to be paid each week (a small percentage of their tokens) and insurance will be an option. Those that buy insurance will be insured in the event of a "natural disaster". Lastly, students may earn a "desk lottery ticket" if they are found to have a clean desk. One lottery ticket will be drawn at the end of the month for a prize. This unit always proves to be an exciting learning opportunity.
Ask your child about: needs vs. wants, goods vs. services, natural resources, capital resources and human resources.
Ask your child about: needs vs. wants, goods vs. services, natural resources, capital resources and human resources.
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