Classroom Economy

1. Classroom Economy Courtesy of Mrs. G. and Mrs. Torrance

2. What is an economy? • Careful, thrifty management of resources, such as money, materials, or labor. • The system or range of economic activity in a country, region, or community. • Our classroom is our community!

3. What is a Job? • A piece of work, especially a specific task done as part of the routine of one's occupation or for an agreed price. • A post of employment; full-time or part-time position. • Anything a person is expected or obliged to do; duty; responsibility. YOU WILL ALL BE HIRED FOR A CLASSROOM JOB!

4. Jobs… • Pick your top three. • Write them down on a note card with your name. • Turn it in to Mrs. G’s drawer. • You will be given your job tomorrow!

5. Classroom Jobs • Helper - must be energetic and flexible. • Magnet/Timer – must be organized and intelligent. • Paper passer – must be quick and energetic. • Lunch bucket (2) – must be strong and reliable. • Energy saver – Must be efficient and reliable. • Surface surfer – Must be bossy and clean. • Messenger – Must be good with people and courteous. • Human resource (2) – must be good with people, money and honest. • Land Lord - must be fair and reliable • Supply manager – must be organized and good with money. • whiteboard cleaner – must be hard worker and clean. • Law enforcer – must be tough and loyal. • Work Monitor – must be fair and organized • Substitute - Must be reliable and never absent. • Lunch Setup (2) – must be strong and fast. • Door Holder – must be courteous and quick. • Banker – must be good with money and honest. • Bus people (2) – must be hard working and clean. • Attendance – must be dependable and on time.

6. What is a salary? • a fixed amount of money or compensation paid to an employee by an employer in return for work performed • An employee who is paid a salary is expected to complete a whole job in return for the salary Your salary for performing your job which includes the classroom job you are hired to do daily and your school assignments will be $50 dollars a week. This will be deposited straight into your checking account by the human resource department each Friday.It will be based on the performance of your job and your behavior . You may receive less; this can only be deter - mined by Mrs. G or Mrs. Torrance. For example if all of your assignments due on Friday are not turned in you may get docked 5 dollars.

7. What are Job Bonuses? • A monetary payment made to an employee over and above their standard salary or compensation package. • Bonuses are one of the ways employers reward their employees for a job well done. You may receive bonuses… 1 dollar for being caught with character This includes but is not only: Being trustworthy --Being responsible --Being a good citizen --Being caring --Being Fair-- Being respectful 5 dollars for being ontask This is only given when most of the others in the class have chosen not to be on task and you have chosen to be on task. Bonuses will not be given often; you are all expected to do your job and your school work. So only when someone has gone above and beyond will they get a bonus. Bonuses are given by your bosses Mrs. G and Mrs. Torrance. They are written up by the work monitor.

8. What are living expenses? • Living expenses are the costs that a family or individual faces on a regular basis. • These can fall into many categories and often have very different definitions. • Understanding and evaluating various living expenses is the first step toward maintaining a healthy financial life. • In difficult times, many individuals also need to find ways to reduce or even eliminate some living expenses to remain within their budget.

9. Your classroom living expenses… • Rent of your desk – 30 dollars a week • Collected every Monday morning by the Land Lord. Based on the condition of desk you may be charged additional costs. • Keep your desk clean, organized and in good condition. • Supplies – must be checked out with supply manager • 1 dollar for a pencil • 5 dollar rent for any of Mrs. G's supplies. You will sign a rental agreement and will owe me 5 dollars if you don't return it. If you do return it in good condition you will only owe 1 dollar. • Community supplies are free to use. But you may be charged a 1 dollar fee for breaking or being careless with them so BE RESPECTFUL!

10. What is currency? • Something that is used as a medium of exchange; money. Our Classroom currency will be a Debit card and a savings card. • Get two note cards. • Write in the middle of one name and then Debit Card. • Write in the middle of the other one Name and Savings Card. • Place the Debit card in your name holder • Put your savings card in to Mrs. G Drawer.

11. DEBIT CARD • A Debit card is linked straight to your checking account, and therefore you need to have the money available in your account before you can use it for payment. • Each time you earn money your debit card will be punched. • Circle for 10 dollars • Star for 5 dollars • Heart for 1 dollar • Each time you spend money your debit card your punches will be cut. • Watch Demonstration

12. Saving Card or Account You Savings card will work like an account. If you decide you want to start saving some of your money each week for the 120 dollars needed for the premier tickets and pizza you can transfer from your debit to your savings. This can only be done on Fridays and can be done by the banker . You will earn 3% interest a month. See demonstration…

13. What is the responsibility of a community or classroom member in an economy? • For any economy to run smoothly each member must do their job and also they must abide by certain laws. • If a member of the classroom breaks a law the consequences can be tickets. Just like when you are caught speeding you get a ticket and must pay for that mistake. • Tickets will be issued only by Mrs. G and Mrs. Torrance but written and delivered by the law enforcer. • 1 dollar for disorderly conduct • This includes but is not only: Shouting out --Speaking rudely to a member of the community --Interrupting while another member of the community is speaking-- invading others personal space or property --Being in the problem book • 5 dollars for Disturbing the peace • This includes but is not only: Talking during a level 0-- Not being on task during class work • Tickets will be written each day but deducted from your account only on each Monday.

14. Why Save? • At the end of the year you will need to have 120 dollars on your debit or savings card in order to buy tickets to our premier movie and pizza lunch. GOOD LUCK!!

15. ANY QUESTIONS?