During the school year, students will be participating in a classroom economic system called Stein Time Bank, which is based upon the bead economy. The bead economy will act as a representation of monetary value, similar to our economy. There will be 7 denominations of pebbles including $10, $25, $50, $100, $1,000, $5,000 & $10,000.
Students will be given two hundred dollars worth of pebbles every Monday. Students will have plenty of opportunities to earn more money throughout the week. Some examples include overachieving on a homework/classroom assignment, following class rules, keeping the desk/work space organized, getting along with others, using manners, remembering supplies when switching classes, receiving a praise by another teacher, and etc.
A student can also lose money throughout the week. For example, a teacher may fine a student for not completing homework, using inappropriate language, displaying negative hallway behavior, showing disrespect, forgetting supplies when switching class, poor behavior in the cafeteria, or not following any other class or school rule. Students will also have to pay a weekly $25 rent bill to use their desk and the teacher’s supplies. Furthermore, each student will have to file their taxes before April 15, 2014.
As the students continue to save throughout the year, they will have opportunities to learn how to invest their money into different saving accounts and even stocks. The students will learn about interest rates and even develop their own business, which will have it’s own website, business cards, flyers, commercials, and t-shirts! Please visit our business website which has more information about Stein Time Bank!
WEEKLY INCOME $200
* being prepared for school
* all homework in on time
* clean work area
* positive behavior
* completing weekly class job
WEEKLY TAXES/RENT $25
* use of work area, desk, supplies, playground, etc.
* hallway behavior $10
* missing homework $10
missing class supplies $10
talking at inappropriate times $25
* inappropriate language $50
misbehave in special classes $50
* aggressive behavior $100
During the school year, the students will be given opportunities to earn and spend their money. Every other Friday, the students will be given the opportunity to spend their money at a flea market. The flea market will help the children learn about economics. Your child’s homeroom teacher will let the student know what type of items they can bring to these flea markets. Remember, we have an inflated society. It is your goal to make as much money as possible so you can buy your classmate’s products. Please visit our website to see our flea market schedule.
In addition, the entire 4th grade will have a combined flea market twice a marking period. Each child can bring ONE school appropriate item to sell. We are asking that no children bring any baked goods for any flea market. The students will have only 5 minutes to sell their item and purchase something they want. There is no limit on the amount of items a student can purchase.
In order to participate in any 4th grade flea market, a child must have at least $250 saved in their money container, bring ONE item to sell, and most importantly, follow all directions during the flea market process. If a student does not meet all three of these required flea market obligations, they will not participate in our flea market.
Towards the end of the school year, each class will be looking for parent donations for our final flea market. We’ll need gift cards, and other used or new items such as books, toys, cool school supplies, card games, goofy costumes, CDs, DVDs, board games, or old video games. Please no baked goods, but candy is OK! Your teacher will let you know when you can start sending in these items at the end of the year, and we will store and sort them in time for our final flea market. Thanks so much for your support with our unique bean economy that will encourage excellent behavior and real-world applications of life skills.