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Grades 11–12
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Grades 11–12

Connections to Financial Literacy Standards

My Classroom Economy is designed to help students learn financial literacy from an early age. This page will help you to connect common financial literacy standards with the experience of the classroom economy.

Our program addresses many of the standards included in the Jump$tart Coalition for Personal Financial Literacy's National Standards in K-12 Personal Finance Education.


My Classroom Economy

Financial responsibility and decision-making
Take responsibility for personal financial decisions.

Students are part of a microeconomy in which all of their decisions, such as whether or not to buy insurance, invest their money, or even pay their bills, affect their life in the economy.
Make financial decisions by systematically considering alternatives and consequences.
Students use their bank logs and budget logs to analyze their income and expenses and to set financial goals. They experience a loss of purchasing power on Inflation Day and must decide how their budgets are affected. They also owe taxes on their income throughout the year and must file a tax return on Tax Day.
Income and careers
Explore career options.

Students have the opportunity to start a business within the classroom economy. Before doing so, they must submit an application and business plan for approval.
Identify sources of personal income.
Students can earn income from their jobs, from bonuses, from investments, and from a business enterprise if they start one.
Describe factors affecting take-home pay.
Students can have taxes withheld from their pay throughout the year. They experience a loss of purchasing power on Inflation Day.
Planning and money management
Develop a plan for spending and saving.

Students use bank logs and budget logs to track their income and expenses and to meet their financial goals.

Through probing questions, the teacher illustrates how financial decisions can contribute to wealth-building throughout the year. Two examples: Students discover the benefits of purchasing instead of renting their desks and of contributing to a long-term investment portfolio.
Develop a system for keeping and using financial records.
Students must keep track of their bank logs and other important documents throughout the year.

The importance of maintaining good records is underscored by regular auditing.
Apply consumer skills to purchase decisions.
Students learn that if they save up to buy their desks, they will escape rent and have more money in the long term. Class auctions offer the possibility of overpaying for items or not having enough money to purchase items that are needed or desired. Students experience a loss of purchasing power on Inflation Day.
Consider charitable giving.
Students are encouraged to demonstrate charitable giving (both in time and classroom money) in order to receive tax credits.
Credit and debt
Identify the costs and benefits of various types of credit.

Students can learn about this important topic in the credit card assignment. They specifically research the cost of borrowing and other potential pitfalls.
Explain the purpose of a credit record and identify borrowers' credit report rights.
Students can learn about the importance of a good credit record in the credit card assignment. They research credit scores and the importance of having a good record in order to obtain a card.
Describe ways to avoid or correct credit problems.
Students can research the nature of credit records in the credit card assignment.
Risk management and insurance
Identify common types of risks and basic risk management methods.

Students experience property risk and the benefit of purchasing insurance through the insurance simulator.
Explain the purpose and importance of property and liability insurance protection.
Students experience property damage and the potential financial consequences through the insurance simulator.

Saving and investing

Saving and investing
Discuss how saving contributes to financial

Students learn that if they save, they will be able to buy their desks and have more money. They also can use their savings to acquire more wealth through the investment simulator.
Explain how investing builds wealth and helps meet financial goals.
Students can amass wealth through the investment simulator and can see how their earnings are affected by the factors listed. They are encouraged to build on their experience with the simulator by using teacher-provided websites to answer probing questions.
Evaluate Investment alternatives.
Students gain a basic understanding of risk and return by choosing an asset allocation and comparing results. They answer probing questions about diversification as they experience the results of their investment portfolio decisions.

Insurance simulator:

What's the damage?


Insurance costs:

One-time yearly payment of: $1,200
or monthly payments of: $200

Insurance simulator:

What's the damage?


Insurance costs:

One-time yearly payment of: $1,200
or monthly payments of: $200