Mini-Society ~ A teaching strategy that brings real economic experiences into our classroom!
Dear Families,
The purpose of this letter is to tell you about Mini-Society, the multidisciplinary program I will be implementing to teach our third grade economics curriculum.
What is Mini-Society?
In this innovative program students will establish their own society, spend and earn their own money, and open their own businesses. Students will decide on a product (may be a good or service) with supply and demand in mind to promote and sell in the classroom. This experience will help your child understand more about entrepreneurship, economics, government, and ethics in a fun and meaningful way. Key concepts students will learn about include: scarcity; goods and services; producers and consumers; profit; inflation; competition and monopolies; imports and exports; taxes; advertising; marketing; and money and currency exchange. In addition to subject-area learning, the children will experience several side benefits. They will work cooperatively and actively in problem solving—trying to find creative and workable solutions to the numerous problems that occur in any society.
What is your role as a parent?
· Your active interest and involvement will enhance your child’s learning. You will act as a business consultant for your child. He/she can come to you for advice, encouragement, marketing ideas, or problem solving. Your child may ask you to transport them to a particular store to purchase supplies, ask you to assist them in creating their products, or ask to use some of your supplies. You MUST be paid for anything you do on behalf of your child. You do not work for free! Your child may pay you with personal services, for example by helping to prepare dinner, or pay you with our classroom currency (remember, it won’t be fake money to them). Please do not do anything for your child without compensation.
· You will monitor the spending of real cash to acquire some special raw materials for their future goods or services. They will be able to use anything from our classroom “warehouse” supplies that they need for their business, but their product may also require a raw material, so it may be necessary to go out and purchase it for them. The total amount of real cash you and your child should spend is no more than $10.00.
Businesses Ideas That May Evolve from Mini-Society
Stationary and card shop; book rental; handmade crafts (jewelry, bookmarks etc.); newspaper; spa services (hair braiding, massage); musical performers; music lessons; game rentals; business consultant; tattoo parlor (temporary tattoos); clean-up crew; sport card exchange; printing and sign making; food/concession stand (store bought)…the possibilities are endless!
Keep in mind, Mini-Society belongs to the kids!
You and I don’t have unlimited checking or savings accounts. The kids in Mini-Society won’t either. Like all of us, they will learn how to make some challenging choices while gaining knowledge through economic lessons along the way. Don’t make decisions for them.
Other important information…
Our economics unit will begin next Monday, April 20. We will have two separate market days where the kids will get to open their business to sell their goods and services for “money”. Students will be graded on the project (see rubric on back) and will also have a final test on economic terms. The two sessions will be held on the following dates:
Wednesday, May 13 at 1:00 pm. AND Monday, May 18 at 1:00 pm.
Please look for emails from me for further information as we get closer to our market day. Please also complete the tentative business plan with your child. I will need to approve this plan prior to the starting of Mini-Society.
Thank you for your involvement. I am looking forward to the Mini-Society experience with your child!
Sincerely,
Mrs. Mehanja
Please complete the following form and return NO LATER THAN Friday, April 24.
Name:_________________________________
Business Plan:
· What good or service will you offer at your business? Explain.
____________________________________________________________________________
____________________________________________________________________________
____________________________________________________________________________
· What supplies are needed to run your business (purchased with real money on your own or supplies needed from our class “warehouse”)?
____________________________________________________________________________
____________________________________________________________________________
____________________________________________________________________________
· How much Mehanja Money do you plan to charge for your business? Explain.
____________________________________________________________________________
· How do you plan to advertise/promote your business? Do you have a slogan?
____________________________________________________________________________
____________________________________________________________________________
____________________________________________________________________________
· What will you call your business? Name?
____________________________________________________________________________
· Why do you wish to open this business?
____________________________________________________________________________
____________________________________________________________________________
· Anything else you wish to tell me about your business?
____________________________________________________________________________
____________________________________________________________________________
We have read the letter regarding Mini Society and understand the requirements.
Student Signature _____________________________ Parent Signature _______________________
Mini-Society Warehouse Suggestions
Look around your house! It is not necessary to buy anything for our warehouse. You may donate any supplies for our businesses from the list below. Our “warehouse” will be in one cabinet. Once it is full, we cannot accept any further donations. The students will have to be creative and stretch their imagination! Thank you for your contributions!
beads
clay
marbles
rubber bands
old greeting cards
flower pots
yarn, string, ribbon, thread
jacks
partially-used craft kits
clothes pins
construction paper
tape
glue
contact paper
wrapping paper
wallpaper
buttons
scraps of fabric, leather
tracing paper
stickers
water colors
paper cups
sports cards
pictures
old game pieces
shoe laces
craft sticks
artificial flowers
chalk
balloons
old magazines, maps
empty plastic bottles
straws
seeds
glitter
magic tricks
socks
birdseed
colored pencils
markers
puzzles
old jewelry
pom poms
wiggle eyes
pipe cleaners
foam sheets, shapes, etc.
paper plates
lunch bags
lace
Styrofoam balls
bubble wrap
shoe boxes
egg cartons
scrap booking scraps
shaped scissors
hole puncher
duct tape
masking tape
baby food jars
packing peanuts
Velcro
magnet strips
colored sand
coffee filters
paperclips
cotton balls
transparent tape (individual or for
tape dispenser)
glue sticks
masking tape