Classroom Economy in 2nd grade?

Discussion in 'Elementary Education Archives' started by corps2005, Jun 29, 2007.

  1. corps2005

    corps2005 Cohort

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    Jun 29, 2007

    Okay, so after looking at Ms. Newingham's website and her classroom economy, I decided that I want to try that this coming up school year.

    I attempted it last year in first grade, but I used pennies, nickels, dimes, and quarters as money earned. My first graders had a hard time with it, and it was probalby poor planning on my part. I have a few questions though.

    1.
    I'm looping to second, but my class still has difficulty with money. Should I use the $1, $5, and $10 that Ms. Newingham uses or try the coins again? Or should I work our way to coins after they grow comfortable with it?

    2.
    Should I use the Check Registers that my bank offers or should I use the tally system that Ms. Newingham uses? Would they be capable of even using the check registers? Or perhaps the tally mark system would be better because it allows them to practice counting by 1s,5s, and 10s.

    I'm a bit apprehensive, since it didn't work that well last year. I really like the idea though. Any suggestions and tips, especially with the above questions?
     
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  3. ruralneteach

    ruralneteach Rookie

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    Jun 29, 2007

    I used the classroom economy in a mixed-age room of first to fourth graders last year. We started out using the check registers, but it simply took too much time for the first and second graders. They didn't really understand the process. I still issued checks that they had to cash at the bank. But instead of a classroom store, I did a monthly auction and sold off junk I picked up at garage sales. They loved it. Stuffed animals are a big hit and they're usually less than a dollar at garage sales. We also did two movie parties. I am absolutely opposed to movies in the classroom because of the copyright issues, but they begged and begged. I tied them in to what we were doing in class because I didn't have time to secure a license, but that didn't seem to matter. We sold concessions: pop, popcorn, candy bars, chewing gum and dill pickles. We ran out of dill pickles both times.

    I used bills: 1, 5, 10, 20, 50 and 100. They had to pay table rent and utilities and that was a hard concept at first. Especially paying even if they were absent. I also raised the utilities in January a substantial amount. They complained as much as we do as adults.

    Instead of using the credit and debit notebook to keep track of everything, I made up punch cards with fines and bonuses that they keep at their seats. I simply picked up their card and punched it if they were engaging in something inappropriate. The same went for if they were working hard. The bonus side would get punched. I also gave bonuses for compliments about the class from other people. Talk about a mannerly, polite class when visitors walk in. All the kids see is "fresh meat for a compliment"! If the class got a little loud, I'd pick up the punch and mention a class-wide fine. It worked like a charm.

    Send me a private message if you want a copy of my punch card or think of any other questions you might have. I think classroom ecomonies are a lot of initial work for the teacher, but the payoff is well worth it. My administrator is wanting to use it school wide next year.
     
  4. Mable

    Mable Enthusiast

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    Jun 29, 2007

    I use $10 bills from US Toy as my 2nd grade classroom economy and they love it. I've tried the punchcard system, but it's too time consuming for me personally. If I have to "fine" a student, I just ask for $10 or more. If I see kids that are doing something great, they might earn $10 or more. They can purchase treasure chest digs for $200 - which helps them learn how to save. I've used this system in 2nd, 3rd, 4th, and 5th, and I think it's great.
     
  5. I want to TEACH

    I want to TEACH Companion

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    Jun 29, 2007

    I'm doing this in my room, but I'm going to have "Dolphin Dollars" [Ocean themed] that are worth 10 points a piece. I'll let my students also go on a treasure dig once they have 200 pts of "Dolphin Dollars".
     
  6. corps2005

    corps2005 Cohort

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    Jun 29, 2007

    Thank youfor the replies so far! :) It does seem like everyone is sticking to using bills, which will be less frustrating for second graders, I believe. I think I'll use bills as well.

    I wasn't sure about using checkbook register, so it was good to hear about it from Rural. It reaffirmed what I was thinking. :p
     
  7. sophie1

    sophie1 Comrade

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    Jun 29, 2007

    Where is this website? I'd like to learn more!
     
  8. sayuri

    sayuri Rookie

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    Jun 29, 2007

    when i taught second grade i used nickels, dimes, quarters, and dollar bills. i created my own "bear money" and used different bear type symbols for each coin.

    at first we only worked with the quarters. they understood how to exchange into bear dollars quite easily. slowly i added dimes then nickels. it was difficult but i stuck with it and the students were able to make change later in the year.

    we had a monthly store (mostly student donated toys from mc donalds or other mini toys) and auctions (mostly stuffed animals i found at thrift stores or garage sales).

    now that i'm in 3rd grade my money has evolved to fractions. i use 1/20, 1/10, 1/4, and 1. my students have a difficult time understanding why 1/10 is worth more than 1/20. again, it takes a while for the students to understand the fraction system. once they get it, they get it! many of them are able to grasp the fractions section of our math much easier.
     
  9. bdteach

    bdteach Companion

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  10. bdteach

    bdteach Companion

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    Jul 7, 2007

    Rural - was the table rent/utilities for the desks and classroom utilities or are you referring to the movies?
     

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