Classroom Economy

Discussion in 'Elementary Education' started by JTeach619, Aug 9, 2008.

  1. JTeach619

    JTeach619 Companion

    Jul 30, 2008
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    Aug 9, 2008

    I'm going to try doing a classroom economy with my kids for the first time this year. This is going to be my 4th year teaching third grade and I think I'm ready to broaden my classroom management horizons :lol: I absolutely love Beth Newingham's idea of the class store with the bank and the paychecks that the kids "cash in" however, I was wondering how on Earth does she find the time to do all of this?? Does anyone implement her system?? Any pointers you guys can give to a class economy newbie? :thanks:
  3. cMcD

    cMcD Groupie

    Aug 3, 2007
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    Aug 9, 2008

    I did mini economy last year. I only did it second semester though. It's too much to do all year long. At my new school we're planning on doing it as well. I'll PM you my website on classroom econ.

    *Each student has a store (they can have a business partner). They must make and sell their own product or service. Decorated pencils, painted rocks, desk cleaning service, etc.

    *We put together banking folders. This included their ledger with all their checkbook transactions. They learned how to write checks, deposit checks, withdraw money from the bank, and cash checks.

    *I hired 3 bankers and 2 alternates to run the bank on Friday mornings. My bankers were my best math students.

    *We held stores every Thursday. We would invite other grade levels to come in (we gave $5 to each student) and purchase.

    *I charged my students rent on their desk and for their table at store time. I also gave out fines for behavior. I gave out rewards for good behavior.

    *At the end of mini economy (end of school year) we held an auction for the 4th graders. Parents and local businesses donated items and $$$. A local auctioneer came in and auctioned the items off. We followed with a luncheon with items donated by parents.

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