Saturday, January 23, 2010

Economic Entrepreneurs

Lindy's Pet Store "Fur Real"

This week at the Miller Academy for "Troubled Youth" we are FINALLY ready to start our economics project. I started putting this together in November getting the idea from my homeschooling bible, The Complete Home Learning Source Book.

The purpose is to teach kids about economics in an interactive way. As suggested by the author, each child came up with a "company" that they were interested in. The first assignment was to design a logo and or a slogan on a poster to display in our school room. There was a great deal of thought on the type of business that would keep their interest for awhile and to come up with a catchy name. There was no way this project was happening without Erin participating so even she has a little business!

We all had fun working on our posters. Now the fun really begins. Next week will be the official start of their companies. They will each receive a ledger and a "bank account" with a beginning balance. Assignments will be age appropriate and get progressively harder. Kyle is in the oil drilling business so I can see quite some interesting twists with his and plan to tie in current pricing so he has research to do when answering questions.

Ethan is in engineering. He wanted to incorporate something that would work with his architecture and real estate interest. I am really excited about his too because some of his assignments will be designing things and then pricing various parts. And yes taxes, stocks, payroll, insurance, checkbook balancing, interest, and much more are going to be included in the boys.

A more down scaled version for Lindy and Paige. Personally Paige and I are going to have a ball. She created "Toppings" an Ice Cream Shop and since I have soo much experience in this field in product sampling, well let's just say there will need to be some taste testing going on. Lindy has "Fur Real" a Pet Store and Erin has "Goodies" candy and treats. Money management with lots of math will be the main focus for the girls but I hope to add lots of decision making for them as well some fun art projects. Not sure what Erin is going to do at this point but I can see a lot of drawing of cupcakes and such!

That's what we've been working on in a nutshell. It is definitely a bit of a time consuming project on my end to get together but the possibilities are endless and I am really looking forward to this being a very long term project that can grow with them. The amount they can learn from this makes it all worth it!

Kyle - Lonestar Oil Co. "Our Gas Gets You There Fast!"

Ethan took his middle name to create "Bryce Engineering".

Candy, cupcakes, cake, ice cream and Erin, what a combination!

Paige and "Toppings" which I think is a great name!


Gretchen said...

So creative!!!! Love the finished posters!!!

Laura said...

What a fantastic idea! They are going to have so much fun and learn so much with that!

Rob M. said...

LOCO Oil Co.? Texas??? Try www.cnbc for Oil information.

I like the name Bryce, go for it, Ethan!

"Toppings" -- I like the brown sprinkles -- put them on cupcakes for me! I used to eat that stuff by the spoonful!

Is the pet store for real pets, or stuffed animals? Anybody in the house have any stuffed animals!