International Bazaar Grades 4-6
Students arrive as immigrants on Ellis Island. 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.
Mini Town Grades 2 and 3
Mini-Town is a hands-on simulation in which students are consumers and producers of food and craft items. They demonstrate how people use money to buy and sell merchandise. It is important to know the combined value of various coins and currency and that money must be earned before it is spent.
At this age, children are learning to count money and make change, do personal cost-benefit analyses, and make financial decisions at the School of Economics.