Did you know that we have an entire classroom full of pharmacists, social workers, architects, and more? I’m not talking about their futures, but rather the Economics Unit that 7th Grade students in a Social Studies class at GMS are working on. Ms. Blocks has created a classroom economy that requires students to get jobs, buy houses, and pay their living expenses all while maintaining a budget based on their income.
This real-world opportunity is supported by the use of the iPads and online tools such as mortgage/loan calculators as well as a great website called My Kids Bank (www.mykidsbank.org) to keep track of their money online in a realistic way. Each student has his or her own login information to access a bank account and is responsible for making deposits and withdrawals online to track their money.
Ms. Blocks says that students are extremely mindful about keeping track of their money and entering the amounts correctly. They are also extremely competitive. They want to compare their balances with one another and are beginning to realize that sometimes you cannot afford that puppy or a huge house!
This real-world opportunity is supported by the use of the iPads and online tools such as mortgage/loan calculators as well as a great website called My Kids Bank (www.mykidsbank.org) to keep track of their money online in a realistic way. Each student has his or her own login information to access a bank account and is responsible for making deposits and withdrawals online to track their money.
Ms. Blocks says that students are extremely mindful about keeping track of their money and entering the amounts correctly. They are also extremely competitive. They want to compare their balances with one another and are beginning to realize that sometimes you cannot afford that puppy or a huge house!
Students have been asking what they can do to get ‘bonus pay’ and have even made suggestions about things that they would like to see happen with the lesson, such as the ability to get a new job/promotion and even to continue the activity through the rest of the year! It has created an interesting, competitive mini-economy where students are motivated to work hard!
This lesson easily falls into Quad D on the Rigor and Relevance Framework. Students are required to analyze their budgets and prove that they can afford things, like houses, but they continuously have to evaluate and modify their budgets in order to make informed decisions. Next up, students will be buying cars and they can't wait!
Mary
This lesson easily falls into Quad D on the Rigor and Relevance Framework. Students are required to analyze their budgets and prove that they can afford things, like houses, but they continuously have to evaluate and modify their budgets in order to make informed decisions. Next up, students will be buying cars and they can't wait!
Mary
Reflecting with SAMR
Below are several of the documents that Ms. Blocks is using to support this lesson.
| Account Register |
| Apartment Application |
| Mortgage Application |
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