Classroom Economy

This idea was inspired from Rafe Esquith's books, Teach Like Your Hair's on Fire and There are No Shortcuts. Thanks to Carolyn Klaus, a 5th grade teacher in Illinois, that sent me a word version of everything. I just need some time to tinker around with the application, banking forms, rent fees, etc. This plan is great because it is completely kid run, and it is not about earning money for some trinkets or candy. Besides, we first have to pay our rent! This system mimics real-life with a Monopoly touch. Students have already come up with such creative ideas to make this work...including pairing up with another student to begin purchasing property and renting out with shared profits.

2008-2009 Revisions:

Online Banking-This year we will incorporate online banking through www.mykidbank.com. Students will keep up with debits and credits and post this through online banking during technology time. A user name and password are given to each student, as well as an option to post details for each transition. Checks will be used as frequently as they are in real life. Not very often.

Trinkets Debate- I feel pretty strongly against extrinsic rewards, however, I do want to reward students that earn a lot of money because it equals hard work. This can only come from turning in all work, participating in the Extra Mile Club, doing extra jobs, etc. My solution is to offer the top 5 earners each 6 weeks the opportunity to select one "free coupon" of their choice. This includes a purchase of a book at our local bookstore, dinner with me and my family, a feature role in our next video production, exclusive rights to our couch for one week, or a free book for publishing. These type of rewards keep me and my students happy. Download our coupon sheet here. Top earners go first. One coupon per class (e.g. only one gets the couch coupon).

Quick Links (Not Working Yet): Job Titles/Descriptions----Application---Ways to Earn Extra Money(REVISION SOON) ----Ways You Lose Money(REVISION SOON) ----Ways to Own and Rent Property in the Classroom (coming soon)---How Does it Work? ---Blank Checks (Word)---Blank Checks (PDF)

MONTHLY PAY

Banker (5)

** Additional Requirement:  Needs a Letter of Recommendation from another teacher or adult to show that applicant is dependable, has a high level of integrity, and can handle this position. 

§     A banker keeps records for a single group of students.  This person must be good at arithmetic and a person of the highest integrity. 

§     The banker takes deposits and other checks from his/her bank customers and coordinates accounts with the other bankers and teacher.

$ 640

§     A custodian keeps a specific area of the classroom spotless. 

§     The duties are seperated into 4 equal portions in the room. Each custodian will be responsible for all surface areas, trash, and floors.

$650

Grader (2)

** Additional Requirement:  Needs a Letter of Recommendation from another teacher or adult to show that applicant is dependable, has a high level of integrity, and can handle this position. 

§     A grader will be responsible for correcting/grading papers in certain subject areas and for objective work only (multiple choice, True/False, fill in the blank, etc). 

§     One grader will grade math and reading papers.

§     One grader will grade grammar, spelling, and vocabulary work. 

$630

Police Officer (2)

** Additional Requirement:  Needs a Letter of Recommendation from another teacher or adult to show that applicant is dependable, has a high level of integrity, and can handle this position. 

§     The officer has a book with the names of all the students in his/her jurisdiction.  If a student breaks any of the class or school rules, the officer keeps a record of that infraction in the book. 

§     The officer helps the teacher collect all the fines that students pay for breaking rules. The officer will also monitor the restroom.

$610

§     A clerk passes out and collects papers, including homework, information to be sent home with students, and any other papers. 

§     The clerk also is responsible for general editing and involvement in the class newsletter published every other Friday.

§     The clerk makes sure the class always has a supply of sharpened pencils.

$630

§     The librarian is in charge of our classroom library and reading novels, and makes sure all book shelves are clean and in order. 

§     This student will maintain an up-to-date list of classroom library inventory.  Students go to the librarian for additional help.

$620

Teacher’s Assistant (1)

** Additional Requirement:  Needs a Letter of Recommendation from another teacher or adult to show that applicant is dependable and can handle this position. 

§     The teacher’s assistant has many duties. 

§     This student will take attendance in the morning , check for parent signatures on agendas as directed by the teacher, and perform any other tasks as requested by the teacher.

$600

§     The technology monitor makes sure the electricity/technology in the classroom is used wisely and efficiently. 

§     This student will be responsible for lights (main and floor lamp), CD player, Video/DVD player, air conditioner, fan, electric pencil sharpener, candle warmer, projection screen, and window shades).

§     This student also opens and closes the classroom door as the class comes and goes.

$540

§     This student will be responsible for all work/communication missed for absent students.

§     This student will also be responsible for cleaning the board, changing the calendar, and posting any information as told by Mrs. Bunyi.

$590

§     This position is responsible for greeting and initially assisting all guests and visitors that come into our classroom, as well as greeting them in the office when necessary. 

§     This person makes sure any substitute teachers are treated respectfully and helps the substitute teacher as needed.

§     This person makes sure that when students are lined up in or outside of the classroom, that they are quiet, giving the high-five, and ready for the next task.

$580

§     The emergency coordinator carries the emergency kit during monthly/bi-monthly fire or emergency drills.

§     This student will also keep the first aid station stocked and ready for use, as well as replenish sanitizer and tissues in the stations around the classroom.

$520

Botanist/Zoologist (1)

** Need approval from parent!

§     The botanist/zoologist waters and dusts the classroom plants, and takes care of our classroom pet.

§     Depending on the type of pet, this student may need to take the pet home on breaks for additional care.

$500

$575

When I first started the economy system, but I began with applications and a general overview of each job. I then accepted applications and conducted one on one interviews with each student (mainly recess time). This was followed with more one on one training for the different jobs. For example, custodians will have photos posted in their area to help find things that are out of order...bankers learn how to conduct business and handle difficult customers/challenges. Most of the money transitions will occur online through www.mykidbank.com.

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