Economics Activity: A Classroom Economy Simulation

Mister Harms
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TpT Digital Activity

PDF (5 MB|20 pages)
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TpT Digital Activity
Add notes & annotations through an interactive layer and assign to students via Google Classroom.
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TpT Digital Activity
Add notes & annotations through an interactive layer and assign to students via Google Classroom.
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Searching for Economics Activities? Are you looking for a way to make economics class more enjoyable or maybe you just want to improve classroom management? Classonomics is an interactive classroom economy that will boost student engagement and help reinforce the major concepts of a market economy. Create your very own classroom economy with this Social Studies simulation. Students love the chance to be an entrepreneur by owning items in the classroom, charging students usage fees, and having opportunities to make money by applying for classroom jobs. This economic simulation will help reinforce various economic concepts that are already being studied within your economics, government, or math classes. Classonomics has been such a great tool in helping students understand real-world scenarios such as credits, debits, rental costs, ownership, and more. It even helps improve student behavior and math skills! Economic concepts experienced in this simulation include: capitalism, entrepreneurship, ownership, supply, demand, addition, subtraction, scarcity, costs, benefits, and other market economic principles.

Classonomics is meant to run alongside your current classroom curriculum and procedures. This activity will not replace any lessons, rather it will only enhance your current instructional materials. I have found that it truly helps with classroom management too! Yeah! I know you and your students will come to love this engaging activity as it is a highlight for my students. Thanks so much for stopping by and if you have time, I'd love to hear from you through your comments and ratings - Enjoy!

What’s Included:

  • Detailed teacher instructions
  • Student instruction handout
  • Job application forms
  • Ownership application forms
  • Police officer log
  • Classroom fines and offenses form
  • Student grand totals form
  • Student transaction log form
  • Teacher documentation forms to keep track of all aspects
  • Sample examples are included for all aspects of the simulation to help understand how the simulation works.
  • Download the preview and zoom in to read all about it!

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to see state-specific standards (only available in the US).
Attend to precision. Mathematically proficient students try to communicate precisely to others. They try to use clear definitions in discussion with others and in their own reasoning. They state the meaning of the symbols they choose, including using the equal sign consistently and appropriately. They are careful about specifying units of measure, and labeling axes to clarify the correspondence with quantities in a problem. They calculate accurately and efficiently, express numerical answers with a degree of precision appropriate for the problem context. In the elementary grades, students give carefully formulated explanations to each other. By the time they reach high school they have learned to examine claims and make explicit use of definitions.
Use appropriate tools strategically. Mathematically proficient students consider the available tools when solving a mathematical problem. These tools might include pencil and paper, concrete models, a ruler, a protractor, a calculator, a spreadsheet, a computer algebra system, a statistical package, or dynamic geometry software. Proficient students are sufficiently familiar with tools appropriate for their grade or course to make sound decisions about when each of these tools might be helpful, recognizing both the insight to be gained and their limitations. For example, mathematically proficient high school students analyze graphs of functions and solutions generated using a graphing calculator. They detect possible errors by strategically using estimation and other mathematical knowledge. When making mathematical models, they know that technology can enable them to visualize the results of varying assumptions, explore consequences, and compare predictions with data. Mathematically proficient students at various grade levels are able to identify relevant external mathematical resources, such as digital content located on a website, and use them to pose or solve problems. They are able to use technological tools to explore and deepen their understanding of concepts.
Make sense of problems and persevere in solving them. Mathematically proficient students start by explaining to themselves the meaning of a problem and looking for entry points to its solution. They analyze givens, constraints, relationships, and goals. They make conjectures about the form and meaning of the solution and plan a solution pathway rather than simply jumping into a solution attempt. They consider analogous problems, and try special cases and simpler forms of the original problem in order to gain insight into its solution. They monitor and evaluate their progress and change course if necessary. Older students might, depending on the context of the problem, transform algebraic expressions or change the viewing window on their graphing calculator to get the information they need. Mathematically proficient students can explain correspondences between equations, verbal descriptions, tables, and graphs or draw diagrams of important features and relationships, graph data, and search for regularity or trends. Younger students might rely on using concrete objects or pictures to help conceptualize and solve a problem. Mathematically proficient students check their answers to problems using a different method, and they continually ask themselves, "Does this make sense?" They can understand the approaches of others to solving complex problems and identify correspondences between different approaches.
Produce clear and coherent writing in which the development, organization, and style are appropriate to task, purpose, and audience.
Establish and maintain a formal style and objective tone while attending to the norms and conventions of the discipline in which they are writing.
Total Pages
20 pages
Answer Key
Teaching Duration
1 month
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