Hi Everyone!
Over the next several weeks the third graders will be studying economics. They will learn to think critically about the way economics works in our everyday lives and how they personally have an influence on it. We will study concepts such as producers and consumers, supply and demand, opportunity cost, etc.
In order to really have an authentic and deep understanding of civics and economics, and how they both work together, the third graders will be creating their own “mini society” here at school. Each third grade class will be creating their own society with a unique class name, a class currency, laws and jobs, a system of earning money, a class motto, etc. They will even take out their own business loan. The students will be taking full ownership of their classroom societies!
First, students will need to apply for an additional classroom job that will help them earn money that will be used on Sale day. Students will need to fill out a detailed job application and have it turned in by Tuesday April 26th. Their product information and parent interview will need to be turned in by Tuesday May 3rd (this will come home at a later date.)
As part of our mini society, each third grader will be responsible for creating a product at home to sell here at school. Your child will need to create multiples of the product. For example, if your child has decided to create bookmarks, he/she will need to create several of those bookmarks to sell.
To keep the cost minimal and to keep the quantity and quality of products pretty even between the students, please give your child a budget of no more than $10.00 to spend on supplies for making the product at home. We definitely encourage the kids to use items you already have at home at to think through what can be found or recycled and used in a unique way. For example: One student collected sticks outside to make several slingshots.
We encourage the third graders to think outside the box, to be creative and innovative when they are making their product. The kids should think through what will set their product apart from others. What makes it a unique product idea? Will it attract buyers? Does it show creativity and innovative thinking? Please encourage your child to take the time to think of something different and unique.
On Tuesday May 31st all of the third graders will bring their products to school to sell. They will set their product price and open business. They will have earned money (our classroom currency) to shop and buy products from the third graders in their own classroom, as well as the other third grade classrooms. Our Gold Rush staff will also stop by to shop.
You are invited to come and participate in the shopping as well. Each parent will be given some class money to shop. Mark your calendars now for May 21st, and we will look forward to seeing you and celebrating all of the hard work your child has done to really understand economics.
Please let us know if you have any questions along the way! We can’t wait to see what cool products your kids create.
Thanks!
Your Third Grade Team,
Jessalyn Russell, Lara Castro, Naomi Meredith, Jeannette Shepperd, and Chelsie Schwartz
