Classroom+Economy+Description

We have established a classroom economy in Third Grade. Students have classroom jobs and will be “paid” for these jobs from the “Shoaf Savings and Loan”. We will be learning math skills and meeting the economic objectives for Social Studies during this “real life” economy. The classroom economy also teaches a way of becoming responsible citizens in a classroom community. Every student has a classroom job. They are paid a salary of $25. Payday is Friday. Students are paid with a check from the “Shoaf Savings and Loan”. On Fridays, the students cash their checks and are paid in our classroom currency “Shoafie Notes”. After the students have cashed their checks, the bills need to be paid. The students pay $1.00 for the rent of their desk and chair, $1.00 for utilities, and $1.00 for taxes. About every other week students may purchase items from the classroom store using the Shoafie Notes. These items are small trinkets, bookmarks, etc. Also included in the store are pencils, erasers, and other necessary school supplies. The school supply items may be purchased when needed by the student. At the end of each quarter an auction is held. The items for sale at the auction are larger items, are only one or two of a kind, and are not available in the store. Students bid on the items and the high bidder becomes the owner of a prize possession. Students may deposit their Shoafie Notes in the bank in a Savings Account and earn interest. If a student needs a loan, that is also arranged. Of course, interest accrues on the loan. Student employees may earn extra income in the form of bonuses. They can earn bonus money by participating in extra learning adventures and displaying outstanding citizenship. Student employees will be fined if procedures, “laws”, are not followed in our classroom community. There are also fees to be paid for various activities. Some bonuses, fines, and fees are payable immediately. Some will be included in the weekly paycheck as credits or debits. The students will keep track of their credits and debits on a Credit and Debit log. Only the teacher can add credits or debits to the log. The students are responsible for the calculations. I am confident that the students will benefit greatly from this Classroom Economy. It provides even more learning adventures for the third grade. We are always looking for donations to the class store or auction. Items like dollar store toys, pencils, erasers, homemade treats, and even gently used toys and books would be appreciated. Thanks for your help.
 * __ Classroom Economy __**