Prior to the Field Trip:

Students will be given a job assignment from their teacher. Then, they will gather in groups based on their jobs to learn the goods or services they will be providing the economy. A loan application which shows the shop’s expenses will be prepared for each shop. Expenses include employee salaries, taxes, rent, utilities, interest, and supplies. Optionally, students may make signs and advertisements for their shops to bring on the field trip. Teachers may also practice identifying money, counting money, and making change with students. Mini-Town is limited to dollars and quarters. School staff will need to arrange for a minimum of 10 volunteers to assist during the field trip.

For the Field Trip:

Most days, a group of 2nd grade consumers will join the field trip later in the morning. They will be practicing their money and decision making skills through shopping at the 3rd grade producer shops. Parent volunteers from the 2nd grade group will set up and run a math carnival that will be available to all students.

The Field Trip:

School of Economics staff will first conduct a large group meeting to review the economic concepts that will be experienced, outline the schedule for the day, and set expectations and goals. At the end of the meeting, students will go to their assigned shops for production time where they will take out the shop loan, make food and craft items to sell, and arrange items for sale. Once production time is complete, students will receive their pay for working and take turns going on break. During their breaks, students will purchase items for their lunch, snacks, and other things for sale. They will experience opportunity cost as well as supply and demand. Once students have had one break, shops will take time to evaluate how close they are to paying off their loan. Then, students will have a second break where they will encounter scarcity as well as opportunity cost and supply and demand. At the end of the day, students will be responsible for making deposits to the loan department, cleaning their shops, and calculating whether their shop paid off their loan and made a profit or had a loss.

Prior to the Field Trip:

Students will have the opportunity to earn two paychecks at school which they will cash and spend during the field trip. How they earn the money is decided by their teachers. Teachers will need to arrange for a minimum of 5 volunteers to assist during the field trip.

The Field Trip:

Students will start by meeting with a School of Economics staff member and taking a window shopping trip through the shops. They will then cash their paychecks at the bank and choose where to spend their money. The shops will have food, craft, and toy items and there will be math carnival games to play. Part of their purchases will be their lunch. Just before loading the bus, students will have a group meeting to review the concepts for the day.

Prior to the Field Trip

The school attending each day will need to elect a mayor and place students in job assignments. Once students have their jobs, they will work in groups to prepare for the day. They will be given a budget with which to order supplies, fill out a loan application which includes worker salaries, rent, taxes, supplies, and interest, and a pricing guide to determine starting prices for their goods. Optionally, they can also make flags and advertisements for their shops.

Volunteer Policy

Every school is required to bring 11 volunteers. It is the responsibility of the school to background screen/verify volunteers that will be attending School of Economics. All school volunteers are required to ride the bus with the students. No late arrivals or early departures will be permitted.

The Field Trip

School of Economics staff will first conduct a large group meeting to review the economic concepts that will be experienced, outline the schedule for the day, and set expectations and goals. Following the meeting, students will head to their shop areas to produce goods, price items, and take out shop loans. Shop accountants will make paychecks for workers to cash at the bank and bankers will prepare the bank for business. Once production time is complete, students will receive their paycheck, cash them, and go on break. During their breaks, students will purchase items for their lunch, snacks, crafts, and other items for sale. Shops may raise and lower prices in response to supply and demand and scarcity may occur. Once students have had one break, shops will take time to evaluate how close they are to paying off their loan. Then, students will have a second break to purchase items. At the end of the day, students will be responsible for making deposits to the loan department, clean shops, and calculate whether their shop paid off their loan and made a profit or had a loss. Before loading the bus, SOE staff will conduct a closing meeting to review the concepts experienced through the day and name the shop with the highest profit.

Prior to the Field Trip

The school attending each day will need to elect a mayor and place students in job assignments. Once students have their jobs, they will work in groups to prepare for the day. They will be given a budget with which to order supplies, fill out a loan application which includes worker salaries, rent, taxes, supplies, and interest, and a pricing guide to determine starting prices for their goods. Students placed as accountants will write the first paycheck for each worker. Optionally, they can also make flags and advertisements for their shops.

The Field Trip

School of Economics staff will first conduct a large group meeting to review the economic concepts that will be experienced, outline the schedule for the day, and set expectations and goals. Following the meeting, students will head to their shop areas to produce goods, price items, and take out shop loans. Shop accountants will make paychecks for workers to cash at the bank and bankers will prepare the bank for business. Once production time is complete, students will receive their paycheck, cash them, and go on break. During their breaks, students will purchase items for their lunch, snacks, crafts, and other items for sale. Shops may raise and lower prices in response to supply and demand and scarcity may occur. Once students have had one break, shops will take time to evaluate how close they are to paying off their loan. Then, students will have a second break to purchase items. At the end of the day, students will be responsible for making deposits to the loan department, clean shops, and calculate whether their shop paid off their loan and made a profit or had a loss. Before loading the bus, SOE staff will conduct a closing meeting to review the concepts experienced through the day and name the shop with the highest profit.