Classroom Economy

I started this system many years ago during my second year of teaching. Over the years, it has gone through a lot of tweaking and is now at a place that I love. This system is one I can't do without. The kids love it, and so do I. After the initial month of teaching it, the kids take over and the system is run almost entirely by them.  The below links go through how I did this system back in 2012. With the abundance of Social Emotional Learning research that has been put out since- I now use this mostly as a system to teach financial literacy. Students simply get a monthly pay check for their job- which is being a student.  Just like a real job, their job as a student comes with expectations.
​ All of the resources I use can be found here.

Before You Start        Setting up a System that Works for You        The First Days        Some Things to Consider

Benefits of a Classroom Economy:

1. If you spend time in the beginning setting it up, the system runs itself.
2. Provides a very motivating positive behavior management system.
3. Rewards students for working hard.
4. Allows students to take part in a real-world economic simulation. Students learn how to budget their money, balance a checking account and learn how to make payments on rent. Students learn the importance of saving money.
5. Encourages students to go above and beyond expectations.

Disadvantages:

1. This does take a lot of time in the beginning of the year to set up.
2. If the system is not taught properly, there will be problems. There was one year in my teaching where the bankers cheated and the homework checkers were making deals on the side- "I will say you did your homework if you give me $50 Scholar Dollars." My fault entirely, I didn't spend enough time in the beginning teaching them. I just dove right in.

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