Lannon students learn and earn during school Teacher's notebook
Steps involved in setting up a classroom economy: • Hold a class meeting to discuss the concept of classroom economy and brainstorm student ideas about jobs needed in the classroom • Create a job description sheet for each student • Discuss and hand out job applications • Conduct interviews and hire students • Allow for one week of on-the-job training • Monitor performance through a job reflection and financial survey
Lannon Elementary School students are learning through projects that promote 21st century skills including critical thinking, financial literacy, communication skills and community engagement. Fourth-graders in Katie Bernard's class have created a classroom economy in which students apply for jobs, earn a salary, pay for expenses, save money and participate in an end-of-the- year auction.
Students rent their desk for $500 per month, or they can save up and pay off their desk for $1,500. Students work at jobs such as answering phones, line leader, desk checker, party planner, banker and auditor. Students gained experience writing contracts, loaning and borrowing money, and agreeing upon interest rates. Bernard said the project brings a greater sense of responsibility to the students.
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