dec. 28, 2016
of children and adults clambered over tables in Liberty Elementary
School’s cafeteria last week after participating in the school’s
annual Mini Economy Day where squishy stress balls, glove buddies,
keychains and other products developed and sold by nearly 100
students littered the floor.
But the products were just the most visible part of the
mini-economies that students developed in their classrooms over
the past months, and while some items may be left behind, their
teachers and principals hope the skills and knowledge the students
learned will persist.
The mini-economy is a form of economics instruction in which
students participate in a classroom economy in order to simulate
real world economic activity. In a mini-economy, students earn
play money in a variety of ways and spend it at a class market
operated by their classmates.
The mini-economy program teaches students about entrepreneurship,
economics, and government through establishing a unique classroom
currency, performing classroom jobs and starting their own
Students determine needed resources and purchase them, calculate
expenses and profits, apply for classroom business licenses and
even convert between currencies when they come to Market Day,
which has its own currency and exchange rate to the classroom