Fourth Grade Economics Unit Update

From Ms. Flanagan

April 11, 2014

Our Community Name- Candy Land

Our currency- Funny Money

This week

  1. Named community
  2. Designed money
  3. Began work on unit vocabulary

Next Week

  1. Select treasurers
  2. Complete lessons on scarcity, opportunity cost…
  3. Take 1 economics quiz (which will be graded and earn students Funny Money)
  4. Learn about how coins and currency are made in America (will watch 2 short video clips)

Business License Applications are due by Monday, April 14th. Approximately 17 businesses have already been approved (several with partners).The students have had the application for two weeks.

Reminder: Businesses were first come, first served.We are at our limit for bakeries and food businesses. We have 7 bakeries, 2 popcorn businesses and a doughnut business. Since we only have 53 shoppers,the remaining students must come up with other products to sell. I am placing photo shows of the last three Market Days on my website. Please look there for ideas…remember, your child should have a minimum of 21 items to sell (7 per shopping session-more is recommended unless your product is expensive to make or extremely popular). The food businesses should think of incentives to get customers, and plan on packaging for taking items home. Shopping sessions are 20 minutes long and there will not be enough time for people to eat all the food they might purchase. You’ll want to find a way to encourage people to buy items to take home. The competition will be very tough for food items.

Mrs. Brumme has given us the gym for our Market Day on May 28th in the AM. Details to follow. Thank You!

Students will be able to earn up to 500 Funny Money by helping at home…you hire them and I pay them…pay sheet was attached to the Parent Note and extra copies can be located on my web site.

Students are earning Funny Money for “their work at school.” Most of the money comes from me and Mr. Nyenhuisand is paid using their pay sheets.

Next week- We will divide our sessions between Regions and Economics. Students will earn “money” for work in Social Studies, quiz grades, compliments, answering review questions, etc.

Please be in touch by email if you have any questions.