ERIC Number: ED238761
Record Type: RIE
Publication Date: 1981
Reference Count: 0
Sold to Dominic for 1 Troy and 3 (24) Fin: An Economic Money System.
Williams, Sandra L.
Arranged in two sections, this paper details a project for incorporating ongoing economics study into a sixth-grade curriculum by creating an imaginary economic system. Section 1 highlights the main activities of the project, which include the following. A money system, based on units of 12 to enhance multiplication skills, was instituted, with students earning money for doing homework, working around the room, and serving as class officer; further, students spent money for misbehaving, failing to finish assignments, renting the room and desks, and using the room utilities. Following a 2-week freeze to enable students to accumulate capital, students were held responsible for all expenses. Biweekly auctions were instituted to teach about pricing, supply and demand, saving, and economic decision making. Class officers were elected for 2-week paid terms. During the second semester, the option of money market certificates and private enterprise (private desk washing services) were introduced into the system as economic incentives. Section 2 outlines class profile, project objectives, economic content, area objectives, and evaluation. Appendices contain a summary of the money system, weekly schedule, price indexes, money equivalents, and examples of money. (LP)
Descriptors: Awards, Cost Effectiveness, Costs, Economic Opportunities, Economics Education, Entrepreneurship, Grade 6, Income, Intermediate Grades, Investment, Monetary Systems, Program Descriptions, Simulation, Teacher Developed Materials, Units of Study
National Depository for Economic Education Awards, Milner 184, Illinois State University, Normal, IL 61761 (free).
Publication Type: Reports - Descriptive; Guides - Classroom - Teacher; Speeches/Meeting Papers
Education Level: N/A
Audience: Teachers; Practitioners
Authoring Institution: Lafayette School Corp., IN.
Note: Paper prepared at Washington Elementary School for the International Paper Company Foundation's 20th Annual National Awards Program for the Teaching of Economics (1981-1982).