What is Economics?

 Economics was not my favorite part of social studies when I was in school. I found in confessing and hard to understand.  Now, as an adult student I find it a little easier to understand.  Doing this project I focused on the importance of teaching economics in the younger grades.

Economic is the study of production, consumption, and transfer of wealth.  It is the way our money is made, saved, and spent.  How companies produce and sell their products and what effects the raise and fall of products.

Setting up a economic system in your classroom is a interesting and engaging way to teach young students how the system works.  When introduce the topic, you need to spend time teaching the students how the economic system works, what jobs they will have and how money will be given out and saved.  You will create jobs, salaries, paychecks, banks, stores, pay rent and tickets.  When they students do their jobs they will receive a paycheck every week.  The students will then pay the bank for any tickets they have received throughout the week.  Tickets are given when a student breaks the classroom rules.  After, the student pay back any tickets, they can either save their money in the bank or they can spend it in the classroom store. 

This technique of teaching economic helps students develop:

• how to budget their spending
• balance a checking account
• make scheduled payments
• hold a job
• discover the importance of money