The+Go-Around+Dollar+Reinforcing+Activity

//The Go-Around Dollar// is a story that revolves around individuals making choices on how to spend their dollar. The teacher could set up a store at the front of the classroom. The products would include several things that all would deem necessary and several things that some would //claim// to be necessary. Everyone could start with fifty Monopoly dollars. There would be exactly two items to every student. The teacher could draw names randomly. When a student's name is drawn they would be able to choose one product that is on the table. After everyone has one product the teacher could take the highest bids for the rest of the products. The teacher would tell the students to keep in mind that these products are all that you will be able to buy at this time for you and your family during these hard economic times. Also, keep in mind that you can have more than two items if you offer the highest price on more than one item. The teacher would also have to tell the students to not yell out offers. The teacher will call out the offers and the students should raise their hand if they accept the bid.

Products that the teacher may want to include (there is really no limit to the number and variety of products you use, as long as they are appropriate and include some products that are necessary): toothpaste, winter gloves, jackets, snow boots, winter hat, sunglasses, canned food, bread, cell phone, laptop, etc.

To reinforce this activity the teacher could then have a discussion on why they chose the item that they did and hopefully the students will say that they chose the things that they would need rather than the things that they wanted. After a short discussion you could then go over key terms that were used in the activity and also talk about the simulation in technical terms of what is really going on highlighting opportunity cost, Scarcity and other important terms that relate to this exercise. Once you have highlighted key terms you should then connect this activity to the present day highlighting the fact that we are currently in an economic crisis.

Other standards that could be used to teach this book: Citizenship Rights and Responsibilities and People in Societies


 * Students should soon realize that luxury items included would not be as important during an economic crisis.