International Bazaar in Blue Springs (grades 4-6)
Students arrive as immigrants did on Ellis Island in the early 1900s. They take out a loan from the School of Economics bank to open a store, purchase supplies, and produce and sell merchandise. The goal of this economic simulation is to pay back the loan with interest and to make a profit.
The student-run businesses must pay operating expenses including employee salaries, rent, taxes, fees, and interest on the loan. It is real-world, entrepreneurial practice. Financial success depends on understanding budgets, supply and demand, pricing, and opportunity cost.
Every student has a specific job and earns a salary for following work instructions. Paychecks are cashed at the School of Economics bank and income is spent as consumers of “needs and wants” in the marketplace.
The International Bazaar provides young people with experience earning money and making wise spending or saving decisions. It is reality-based education that prepares elementary school students to manage their financial future.
SOE Market at UMB in Kansas City (grades 4-6)
The SOE Market at UMB will offer a program and curriculum that is similar to the International Bazaar, but the setting is modern day Kansas City.