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Insurance costs:One-time yearly payment of: $1,200
or monthly payments of: $200
The classroom economy program is an effective and enjoyable way to teach your students fundamental financial literacy components without altering your curriculum.
Implementing the program is an easy three-step process:
As they perform their tasks, the students will help you manage the classroom and, in the process, learn valuable skills—such as responsibility, the value of saving, and delayed gratification—that they will carry with them throughout life.
The program is experiential so there is no need to formally teach the lessons. Your students will actively participate and learn as a result. As one teacher told us, there's a thrill in seeing "the lightbulb go on" when a student realizes he or she should have saved money for the next month's rent instead of overpaying for an item at the auction.
Through My Classroom Economy, students learn valuable life skills in an experiential way.
Specifically, they are able to:
At this grade level, students earn and spend dollar amounts of three and four digits to match their math skills. They are also given more responsibility to maintain financial records—for example, bank slips for deposits and withdrawals—to emphasize the importance of recordkeeping and attention to detail. The documents also provide key data for reflection during the year-end wrap-up.
For teachers of advanced Grade 6 students, consider adding advanced modules to the program, or even using the Grades 7–8 program as an alternative.