For a great deal on 5 Economics products check out this bundle!
The Economics of Checks, Budgets, Stocks, College, and Savings - 5 Activities!
Think your students know how much money it costs to have the things they have at home? Do they know how important it is to budget their money? Do they know the facts regarding how much money they can gain or lose by deciding to further their education versus not graduating from high school? If you teach Economics at the middle level or high school level then this bundle includes activities that open the eyes of your students to the reality of budgeting, and how their education can literally pay off .
The Economics of Balancing a Budget with Monthly Incomes
In this activity students will practice calculating a budget using different monthly incomes with arbitrary percentages for expenses to figure out if someone with a certain monthly income will be at a surplus or shortage at the end of the month.
Students will then take part in a dice rolling activity (you provide the dice) to let fate decide for them what their monthly income will be for this activity. I usually have students come up one at a time and roll the dice under my document camera for the class to see. It hooks them because they want to see who gets the most money. Students will have to then calculate a monthly budget for the amount they rolled for, assess the information they've recorded, and make adjustments to balance their surplus or shortage to zero dollars.
Depending on the needs of your students you could also have your students partner up with someone so they can help each other by double checking their answers with each other and figuring out the calculations together. I've done this before and it has often helped the students who struggle with math. I always tell my students, "If you can push buttons on a calculator you can do this activity."
It usually takes me 2 to 3 days to do this activity with my students if I have them complete the extension activities as well. Look through it and do what is best for you and the students you teach.
There are also extension activities provided if you have time for students to figure out how much they can afford for a house and a car using standard formulas for such purchases. Then they actually have to find a house (or houses) and a vehicle (or vehicles) they can afford on their income. I would usually bring in free automobile sales magazines and free real estate magazines from the grocery store for kids to look through and cut pictures out of.
This is a great introductory activity for students because in my 15+ years teaching middle school I can tell you that most students start asking money questions after doing this activity. They are curious about how much money someone makes at the job they are thinking about doing someday. They start to ask questions about saving for retirement, how the stock market works, and how banks work. I absolutely love this activity and I hope you and your students do too.
The Economics of College – Is a Degree Worth It?
I use this product every year with my 8th grade students near the end of the year when they are about to embark on their journey to high school. Many of them are on the fence about school or simply don't see the value in their education. Their eyes are opened pretty quick when they see how much money they are giving up by not pursuing an education, or worse, by choosing to drop out of high school.
This activity has students doing math that directly applies to their future. Students will calculate how much money, according the U.S. Census, a person makes at varying levels of education. Those levels are:
-Not Graduating High School
-High School Graduate
-Some College - No Degree
For each level, students will find out the average lifetime income, the hourly rate, and the difference of income based on the different levels of education for American males and females.
This activity has always worked well for me in encouraging students to do their best in school -- their financial future depends on it!
Check out my other Economics Bundles:
The Economics of Balancing a Budget & The Economics of Saving Your Money
The Economics of Balancing a Budget & The Economics of Check Writing
The Economics of Balancing a Budget & The Economics of Investing in the Stocks
The Economics of Check Writing & The Economics of College
The Economics of Check Writing & The Economics of Investing in Stocks
The Economics of Check Writing & The Economics of Saving Your Money
The Economics of College & The Economics of Saving Money
The Economics of College & The Economics of Investing in Stocks
The Economics of Saving Your Money & Investing in Stocks
Here's even MORE Economics products:
Career Research Packet
Economics Bundle Pack - Stocks, Cost/Benefit, & 2 Invention Projects
Famous Inventors and Their Inventions Presentation
Opportunity Cost and Benefit Packet
The Cause and Effect of the Greatest Events or Inventions from 1950-1999 Project
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