Before they head off into the world of lemonade stands and car washes, Andersonville elementary’s fourth graders are being prepared to know the value of a dollar.
In a three week economics unit students learned about supply and demand, the stock market and other basic elements of the economy.
‘The kids get an understanding of money they’ve never had before,? said Gary Garyamick, a fourth grade teacher at Andersonville Elementary.
At the end of the three week unit, the students put their knowledge to work as they take turns running a restaurant, hawking goods and making smart purchases. Students fill all the roles from owner to busboy in the restaurant, design and sell their own products and most importantly act as consumers for both food and goods.
For example on June 2, the final day of the unit, Allison Lindsey was the owner of ‘Allie’s Restaurant? a quaint little joint featuring both indoor and patio seating serving a wide array of drinks and food. Lindsey was approved for ownership of the restaurant due to her strong application and interview.
‘I practically take care of the restaurant. The biggest challenge is writing the checks,? said Lindsey, whose eatery’s theme was ‘people having fun.?
While Lindsey sweated out the details of food and labor costs, a dedicated staff busied themselves to ensure everyone got what they ordered in an appropriate amount of time.
‘We work as a team and we know where everything is,? said Abby Hartman, a short order cook at ‘Allies Restaurant.?
‘She works on one order while I take the other,? said Destiny Peickert, another cook.
While the servings of watermelon, pretzels and orange pop looked tasty, some patrons got even more refreshment from their choice of seating.
‘Inside it is really crowded and loud,? said Tori Coon, while enjoying her meal on the outdoor patio.
After making sure their bellies were full, another classroom offerred a bazaar of goods for purchase.
‘The kids produce their own product and choose the price. They are given an (imaginary) budget of $1,200,? said Stacey Sielinski, another fourth grade teacher.
The students were given examples of what they could sell, but the final choices, like what product and pricing, were left up to them.
‘Business has been really good,? said Kenny Teichmann, owner of a balloon stress ball boutique. ‘I get really mad at my brother a lot, so that helped me come up with the idea (to sell stress balls).?
Other students found out how important a price point can be in relation to how quickly items sell.
‘Most people were selling their stuff for $35. I used to have my plants at $30, but I changed it to $25 and now more people have been buying,? said Hannah Sentgerath.
By the end of the unit, everyone in the fourth grade rotated from seller to worker to consumer. Some people made money and some lost, but everyone gained important economic lessons.