Economics at GHS: A New Direction

Mr. Stephen Donachie

Mr. Michael Isseks

Mr. Robert Karchawer

Goals of Summer Curriculum

• Examine the NYS Economics curriculum

• Review GHS Economics curriculum map

• Review newly purchased textbook:

Economics: Principles in Action

by Arthur O’Sullivan (Prentice Hall)

• Evaluate other resources: newspaper articles, selections from periodicals, Internet sources, and related readings

End Result

A key objective of the Economics course is

to enhance understanding of economics

through practical experiences.

With this in mind, we have developed

an integrated program utilizing

“the Mini-Economy”.

Goals of the “Mini-Economy”

• Create a realistic economy that operates as the classroom management structure

• Use as a supplement to the traditional academic curriculum

• Incorporate as a percentage of the classroom grade (25%) based on participation in a real world economy and the acquisition of wealth.

Create currency denominations (1, 5, 20, 100, 500)

Create a “cash accounting sheet” for each student to record every financial transaction (money earned and money spent)

Create a list of classroom jobs with salaries: Hire students to take attendance, distribute

materials, collect homework, and so on Students get paid $100/day for attending class

Mini-Economy Construction

Mini-Economy Construction

• Students submit a resume and letter of application to apply for posted positions

• Salaries vary based on the level of responsibility • Desk space rental fees

Week one – Free!Row 1 - $50Row 2 - $75

Row 3 - $100 Row 4 - $200Row 5– $250

• Institute taxation: property tax, income tax, rental tax

• Add inflation: double job salaries and increase rent

• Levy fines: late to class, incomplete homework, “noise pollution” (classroom management)

• Create bills: desk rentals, invoices

• Entrepreneurship: ability to create their own businesses

Ultimately, we want to empower our students

to run the Mini-Economy!

Among the jobs that will become available this semester are:

Class Accountant: records, organizes and monitors individual student accounting cards

Environmental Engineer: maintains a clean and orderly classroom environment

Attendance Officer: takes daily attendance, records absences Peace Officer: monitors “noise pollution” and recommends appropriate fines

Bank Official: handles collection and distribution of all classroom funds Tax Collector: levies and collects taxes for the public good

Clerical Assistant: collects and distributes all materials

Conservationist: handles all recycling, including bottles and cans