Category: Economics

I published this about a year and a half ago, but with April’s focus on financial literacy, it’s time to repost.

When kids read that America’s $18 trillion+ debt is accepted by many experts as ‘business as usual’, I wonder how that news will affect their future personal finance decisions. Do they understand the consequences of unbalanced budgets? The quandary of infinite wants vs. finite dollars? Or do they think money grows on some fiscal tree that always blooms? The good news is: Half of the nation’s schools require a financial literacy course. The bad new is: Only half require a financial literacy course.

If your school doesn’t teach a course about personal economics, there are many online sites that address the topic as mini-lessons. Some are narrative; others games. Here are eight I like. See if one suits you:

Banzai

Banzai is a personal finance curriculum that teaches high school and middle school students how to prioritize spending decisions through real-life scenarios and choose-your-own adventure (kind of) role playing. Students start the course with a pre-test to determine a baseline for their financial literacy. They then engage in 32 life-based interactive scenarios covering everything from balancing a budget to adjusting for unexpected bills like car trouble or health problems. Once they’ve completed these exercises, they pretend that they have just graduated from high school, have a job, and must save $2,000 to start college. They are constantly tempted to mis-spend their limited income and then must face the consequences of those actions, basing decisions on what they learned in the 32 scenarios. Along the way, students juggle rent, gas, groceries, taxes, car payments, and life’s ever-present emergencies. At the end, they take a post-test to measure improvement in their financial literacy.

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When kids read that America’s $18 trillion+ debt is accepted by many experts as ‘business as usual’, I wonder how that news will affect their own personal finance decisions. Do they understand the consequences of unbalanced budgets? The quandary of infinite wants vs. finite dollars? Or do they think money grows on some fiscal tree that always blooms? The good news is: Half of the nation’s schools require a financial literacy course. The bad new is: Only half require a financial literacy course.

Banzai is a personal finance curriculum that teaches high school and middle school students how to prioritize spending decisions through real-life scenarios and choose-your-own adventure (kind of) role playing. Students start the course with a pre-test to determine a baseline for their financial literacy. They then engage in 32 life-based interactive scenarios covering everything from balancing a budget to adjusting for unexpected bills like car trouble or health problems. Once they’ve completed these exercises, they are dropped into a scenario where they have just graduated from high school, have a job, and must save $2,000 to start college. They are constantly tempted to mis-spend their income and then face the consequences of those actions, basing their decisions on what they learned in the 32 scenarios. Along the way, students learn to handle rent, gas, groceries, taxes, car payments, and life’s ever-present emergencies. When they finish, they take a post-test to measure improvement in their financial literacy.

Teachers register as many classes as necessary. Their dashboard lists all students in each class and a summary of which activities they have finished. Student work is graded by the website and updated on the teacher dashboard.

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Second graders (sometimes first graders) learn about money. The only way to really ‘get it’ is repetition. Here’s a list of websites to provide redundancy for each type of learner:

1. Coin Counting
2. Counting Money
3. Money—counting
4. Piggy Bank
5. H.I.P. Pocket Change
6. Cash Out

For a longer list that includes concepts like ‘economics’, try these:

Coins and Counting Money

1. Brain Pop Learn about Money
2. Cashtivity
3. Coin games—from US Mint
4. Count Money
5. Face on money
6. Face on money–from Lunapic; lots of options
7. Make change
8. Money—counting
9. Moneyville
10. Money Flashcards–APlus Math
11. Mr. Bouncy’s Money collection–lots of websites
12. US Mint virtual tour (a slideshow)

Economics–for youngers

1. Brain Pop Learn about Money
2. Coffee Shop Game
3. Rich Kid Smart Kid
4. Spent–living at minimum wage: the game
5. Three Jars–kids learn to use money wisely
6. Tykoon Kid–earning with a purpose

Do you have any to add to this list? These are mostly for youngers–I’d love some for older age groups. (more…)

Wide variety from formative to summative, from quizzes to games. See what works for you:

1. 60-seconds Adventures in Economics–videos from Open University
2. Basic Economic Terms
3. Basic Economics Jumbled
4. Be Your Own Boss
5. BrainPop—money movie
6. Business and Profit Millionaire Game
7. Coffeeshop Game
8. Economic Concepts
9. Economics in Plain English–from Atlantic Monthly–videos
10. Economic Systems
11. Economic Terms
12. Economic Terms Mini-Quiz
13. Economics Flashcards
14. Economics Flashcards
15. Economy Terms
16. Hands on Banking for Kids
17. It’s My Life:PBS Kids – Click on Money
18. Lemonade Stand
19. Making Money
20. NASDAQ
21. New York Stock Exchange
22. Stock Market Game
23. US Economy
24. You are here—sim of the consumer world

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Economics is an authentic topic that can be intimidating if not presented correctly. Here are 4 websites that do a good job of addressing this topic in 3rd grade terms.

1. Coffeeshop Game–students learn the economic ins and outs of running a coffee shop
2. Moneyville–Students learn how to thrive in a community as they make and spend money.

You can scale this up or down, depending upon the scaffolding your student group has for understanding this topic.

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What are we as parents and teachers most worried about over the summer? That kids will lose that education sharp edge. It will be dulled by sun and sand and something else.

Worry no more. Here’s your cure: learning disguised as play (inspired by the fascinating website, Playful Learning). Kids will think they’re playing games, but they’ll actually be participating in some of the leading [mostly] free simulations available in the education field. A note: some must be downloaded and a few purchased, so the link might take you to a website that provides access rather than play:

• Bridge Builder—learn how to design and test bridges
• Dimension U–games that focus on math and literacy–fee-based
• Electrocity—how does electricity contribute to the growth of communities
• iCivics—experience what it means to be part of a democracy
• Second Life—simulates just about anything if you can find it
• West Point Bridge Building Contest–build a bridge for the right price and win a contest

Economics/Money

• Admongo–explore, discover and learn about online ads while playing a game
• Coffee Shop—run a coffee shop business
• Lemonade Stand—run a lemonade stand business

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This post is from 2014 so has lost a few of the links. You’ll find good replacements on this list of of money and economic websites for K-8 here. It is always updated.

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Teaching about money is a balancing act–doing so responsibly. I’m always on the lookout for new sites that accomplish that difficult goal. I must confess, they’re hard to come by.

Until Isreal Defeo, new Ask a Tech Teacher contributor, came up with these six. I hadn’t heard of any of them except Planet Orange (which might be going away. I left it in hopes it would survive). Check these out. I think you’ll like them:

It’s never too early to teach your kids about the value of saving money. Some child experts say that as soon as your child can do basic math, that’s a good time to start. You’ll want to begin as early as you can to make those money-saving skills stick: The ideal situation is that it’ll become as ingrained and second nature as brushing your teeth or changing your underwear.

Here are some websites that can help make learning about money fun.

Planet Orange’s

(Literally) out-of-this-world game takes kids by the hand to guide them through basic financial concepts. After signing up, kids pick out an astronaut name and password, and start their interplanetary travels. Tasks must be completed at every planet to earn money (or “Obux”) for gas.

Besides teaching kids that money is necessary for certain activities (like decorating their spaceships), it also demonstrates the concept of bartering, or exchanging goods for other goods.

ING Direct assures parents that the site is purely educational and free to join.

Gone… how sad…

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As a passionate Economics major in college (which grew into an MBA), I find Econ at the root of much of the world around us. It starts with counting coins in first and second grade and grows up to a peek into NASDAQ and other adult subjects in middle school.

Here are my favorite websites (check here for updates to links):

Coins and Counting Money

1. Brain Pop Learn about Money
2. Cash Out
3. Coin Counting
4. Coin games—from US Mint
5. Count Money
6. Counting Money
7. Face on money
8. How much money
9. Make change
10. Money—counting
11. Moneyville
12. Pick A Coin
13. Piggy Bank
14. US Mint virtual tour (a slideshow)
15. World of Money—registration required

Economics–for youngers

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