Economy Simulation, Flee Market Day, Social Studies Standard (CO) 3.2.b and 3.2.c

Grade/ Subject:

5^th Grade, Economy Simulation, Flee Market Day, Social Studies Standard (CO) 3.2.b and 3.2.c Use of financial institutions to manage personal finances, Identify the products and services of financial institutions to include but not limited to: checking accounts, savings accounts, investments, and loans (DOK 1)

Compare and contrast financial institutions, their products, and services (DOK 1-2)

Prerequisites:

Students have participated in a whole year simulation of a economic system where they applied for jobs (see attachments), worked, got paid once a month, had to pay taxes, rent, and health insurance. They learned to save money and make financial choices to now be ready to participate in Flee Market Day.

Objectives (learning objectives): I can reflect on my personal financial decisions and understand the value in saving money and making smart financial choices.

Description of the activity:

Materials:

• Their checkbook with their saved amount to spend
• Blankets for each student to set up their market stand
• Items- brought in by students or made by students to sell
• Price labels
• Checks (two to three each) to allow buying items and keep track of spending (accountability)

Process:

Students bring items to ‘sell’.

Students set up their stands- two groups. (One group will be shopping first while the other sells- and switch after a little while).

Students have two to three checks to buy items. They will write a check and minus it in their checkbook to show accountability. The seller will keep the checks as evidence that payment happened- this money will be counted in the end and we will see who had the best business (maybe earning 10 minutes of free time with two friends).

When Flee Market Day is over, students reflect in a circle which will serve as assessment.

Assessment/ “Confirm it”:

Students will reflect in a discussion on what they learned about employment, saving, and spending. Can they make a connection between what they did and their future?

Support Materials:

https://drive.google.com/open?id=0B5agLQ-FYrzZSy1JWkZDaFlOR2c