Economics · Lesson Plan
Introducing Currency into the Classroom Economy
Lesson 3 of the MoneyInstructor-nomics classroom-economy series puts money into circulation. Once students have bought into having their own society and currency, this lesson assigns classroom part-time jobs so MoneyInstructor-Bucks have value: students earn the currency through work and learn they’ll be able to spend it. It establishes the earn-and-spend cycle that drives the classroom economy.
For Teachers
Lesson at a glance
- Topic
- Classroom Economy
- Grade Level
- Grades 3–8
- Resource Type
- Lesson + Worksheet
- Estimated Time
- 45–60 minutes
- Format
- Lesson + activity
- Materials
- Printable lesson, worksheet, pencils
What Students Learn
Learning objectives
- Explain why currency has value in the classroom economy
- Connect earning currency to doing a job
- Apply for and take on a classroom part-time job
- Recognize the link between work and pay
- Prepare for spending earned currency
Materials
What you’ll need
- Printed lesson and activity (one per student)
- Classroom currency
- Job assignment list
- Pencils
Key Terms
Vocabulary
- Currency
- Money used to buy and sell within an economy.
- Value
- What currency is worth because it’s earned and can be spent.
- Part-time job
- A classroom role a student performs for pay.
- Earn
- To receive pay for work done.
- Economy
- A system of producing, earning, and spending.
- Wages
- Pay received for doing a job.
For Teachers
Lesson plan
Estimated time: one 45–60 minute class period.
Lesson sequence
- Why currency has value (12 min). Because it must be earned and can be spent.
- Classroom jobs (15 min). Introduce the part-time jobs students can take.
- Apply & assign (12 min). Students choose and take on a job.
- Activity (11 min). Students record their job and expected earnings.
Assessment
Assess whether students can explain why the currency has value and connect their job to pay.
Discussion
Discussion questions
- Why do MoneyInstructor-Bucks have value?
- How will you earn classroom currency?
- What part-time job did you choose, and why?
- How is earning currency like earning money in real life?
- What will you do with the currency you earn?
Printable Lesson & Worksheet
Introducing Currency into the Economy — Lesson & Activity
A printable classroom-economy lesson and activity: students take classroom part-time jobs to earn currency and learn the earn-and-spend cycle.
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