Classroom Economics

There is nothing that will quiet a classroom more effectively than a student getting a $25 fine for talking when he/she was not supposed to be. In our classroom, we have instituted a classroom economics system.

Classroom Economics is just like it sounds. The kids apply for classroom jobs at the beginning of the quarter. When they complete their weekly tasks, they receive payment on Friday (in the form of Minion money, of course;)). They can also earn weekly or daily bonuses. For example, a 100% on a daily assignment or assessment earns you $25, as would perfect weekly attendance, getting your planner signed, or showing leadership, problem-solving, or kindness during the school day.

On the flip side, kids receive fines. They can be fined for being tardy, not turning in homework, rudeness, or not completing their job responsibilities.

We hold auctions once a month and the kids go NUTS over these! Today’s auction included microwave popcorn (to be enjoyed during our snack break), special chairs around the room for silent reading, and “lunch with a friend” coupons.

Kids are incredible. I was shocked to see how responsible many of the kids were with their money. Today, I instituted their property tax bill of $500, due on April 15th. Eight out of my twenty-one kids paid today! They chose to spend their money on their tax bill (that’s not due for another 6 weeks) instead of participating in the auction.

When it comes to kids and ownership…man, they are all about it. When we give our kids choices, they will make the right decision.

During classroom economics and many other aspects of the classroom, these kids continue to amaze me in their ability to think for themselves, plan ahead, and act responsibly.

If only I could be as responsible with my resources…

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3 thoughts on “Classroom Economics

  1. This is such a HUGE lesson that so many kids are not taught. I can honestly say that I never had an economics or budgeting class. I truly wish that I had. Great slice.

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  2. That last line is a clincher for me … wishing to be more responsible with resources. I start thinking of all of my resources – time, for example – and am convicted. What an excellent learning experience for your students.

    Like

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