Fun Add-On's

In its most basic form, Classroom Economics requires students to keep a ledgers that tracks income and expenses. Income is awarded by having students perform classroom jobs. Basic bills include a desk fee, materials fee, fines, and an offering.

There is much, much more that can be done with the program. Through the years, I picked up ideas from talking with other teachers and also from my students. Some turned out to be pretty fun. Feeling adventurous? Consider adding these options to your own Classroom Economics program:

  • Post Resumes: Teach students the importance of grammar, punctuation, and critical thinking by posting resumes.
  • Earn Extra Income: There are many ways kids can earn extra income. Here's a few that I used:
    • $25 per lap earned by running at recess time.
    • $500 per original story (final draft) outside of normal assignments
    • $25-$125 for cleaning the classroom
    • $25 per week tutoring service
  • Pay off a Mortgage: Students make monthly payments on their desks, just like a home, but they can pay off their mortgages early at a lower cost (desk fee times 7). Students accomplish this by earning extra income beyond their monthly jobs.
  • Real Estate Investment: The entrepreneurs in the classroom love this one. Students that have paid off their mortgages are eligible to purchase the deeds to other students' desks (desk fee times 7). These students will then pay monthly fees to their landlords rather than the teacher. This continues until payments are made in full. Landlords may not raise the monthly payment on other students' desks.
  • Pay Taxes: Make students aware of tax season and practice saving by instituting a classroom tax. Spend time discussing why people have to pay taxes and what taxes are used for. I would recommend charging students no more than the equivalent of one month's salary.
  • Open a Savings Account: Have students set a goal to purchase a reward of their choosing. Ask students to calculate the amount of money remaining from their paycheck after paying monthly bills, and then estimate the number of months it will take to make that purchase. Have students transfer a portion of their checks into a savings account, set aside to for this later purchase.
  • Investing: I have to admit, I've never tried this one, but it looks super cool! Students can invest a portion of their disposable income into Vanguard's (My Classroom Economy Website) stock market simulator, which then tracks the grown / decline of their funds throughout the year. Check it out by clicking HERE.
  • Emergency Fund / Natural Disaster: Sometimes bad things happen! Teach kids about the value of an emergency fund by causing a natural disaster in the classroom. Typical clean-up costs are around $100 per student.
  • Classroom Auction: One of my favorite ending pieces of Classroom Economics. There is an entire page on this website dedicated to it. Check it out by clicking HERE.