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Stanleytown students cap economic study with fair
Stanleytown Elementary PALS tutor Meagan Craddock (left) checks out Caroline Pinnix’s Create-a-Card stand Monday during an economics fair at the school. First-graders planned the fair as a climax to a program on economics. (Bulletin photo by Vicky Morrison)
First graders at Stanleytown Elementary had a chance to learn about business management at their annual economics fair Monday.
The three classes of students finished an economics program by planning the fair, which allowed students to create a storefront that either sold goods or services.
“Economics is a little abstract, but this makes it more interesting for the kids,” said Andrea Davis, a first grade teacher.
In their classes, students defined goods and services and determined whether they would serve or sell to the public. The course also taught the difference between producers and consumers, and want versus need. Throughout the economics unit, students were awarded play money as positive reinforcement of good work, be it good behavior or a high test grade.
The play money was used as a demonstration for the children to see how one should save and keep track of money. Daily, the students checked on their “banks” (small plastic bags) to count the money and ensure its safety.
A letter was sent home to parents informing them of the event and requesting their participation, especially in helping students pick their store idea. Parents and students consulted on what popular products might be and which would sell the best.
Each student then prepared a trifold poster identifying their storefront and advertising their goods. They chose prices and packaging for their goods and services.
Many students assembled collections of candies or baked goods. Others offered nail painting or tattoo services. One student, Uriel Cornia Ortega, had homemade Mexican chips made by his sister. Ortega said his contribution involved counting the chips and bagging them. He sold chips either with or without salsa.
Dulce Lopez-Luna’s Bakery was another food shop in the first grader’s market. With a small glass case and shelves of doughnuts, cookies and cupcakes, Lopez-Luna donned a cook’s hair net and apron and served the sweets with a small set of tongs into plastic bags.
Once their “stores” were set up, individual classes took turns shopping the market and buying products with their play money. The money the students earned in their sales was saved in a separate bag from their bank bags.
After all sales were finished, the students compared how much money they earned initially in the classroom, how much they earned selling goods and how much they lost purchasing new items.