Mr. Catania's Class Blog: economics

Showing posts with label economics. Show all posts

Tuesday, March 17, 2015

Biztown Field Trip

“Our favorite part of BizTown was advertising our raffle and products. We also liked how we could go to different businesses and buy actual goods and services.”

– Tampa Bay Rays

“Our favorite part of BizTown was being able to feel like an adult in the real world. We also enjoyed the idea that we were learning while still participating in a fun activity.” – Bank of America

“Our favorite part in JA BizTown was running the Hospital. We also enjoyed cooperating with our peers.” – Florida Hospital

“In our business, our favorite part of BizTown was at the end when we realized that we had made more than enough money. We also enjoyed walking around and buying stuff with the money we had earned.” – TECO

On Friday March 6^th, 2015 the entire 5^th grade class at Gorrie Elementary School visited JA BizTown. BizTown is a simulation town that is designed to teach children basic economic skills. It was a chance for the students to get a taste of the “real world.” Each class was assigned various businesses that they would need to run while we were visiting BizTown. Our class was assigned to run the Florida Hospital, Tampa Bay Electric Company (TECO), Bank of America and the Tampa Bay Rays. Students were ecstatic when they found out what business they were assigned and what role they would play in their business. The students did a phenomenal job following directions, balancing their checkbooks, using their debit cards and performing their duties throughout the day. We could not have had a more rewarding experience and greatly appreciate the help of the parents and the JA BizTown Staff. Gorrie cannot wait to visit BizTown again! Bring on MINI MALL!

-Ms. Ferguson

Wednesday, March 4, 2015

Biztown Interviews

For weeks, our class has been prepping for the much-anticipated trip to JA BizTown happening this Friday, March 6th. “JA BizTown is a program to help young people understand work readiness, entrepreneurship, and personal financial literacy”(BizTown Guide). Students have been working through daily lessons to learn about the circular flow of economy, balancing checkbooks, savings and checking accounts, and how to apply for their first job. Over the course of the past few weeks, the students completed a job application and applied to the businesses our class has been assigned. Students went on mock interviews with staff from various grade levels in our school. Between Mr. Catania, myself, and the notes from the teachers who interviewed our students, we were successfully able to place all of our students into their best role at one of the businesses. We are extremely proud of the hard work that our students have been putting forward thus far, and we hope they will work just as hard on the trip this Friday. Enjoy some pictures of our students who came in their business attire for their interview.
- Ms. Ferguson

Sunday, March 31, 2013

Mini-Mall

Mini – Mall Economics Project

Summary

A successful business takes a lot of planning and research. Understanding a market, then providing a service or product (on a limited budget) to meet the need of that market are benchmarks for success. This project will give each student a unique opportunity to experience the business world while incorporating math, writing, economics, and cooperative learning.

Objectives	Due Date
Introduce activity	March 27
Group Members and product submitted to teacher to be approved	April 1
Design a product or service and create a prototype or visual of the product	April 5
Create Budget	April 8
Fill out and turn in Loan Application	April 12
Develop ad campaign (create signs/create & rehearse commercial)	April 15 – April 19
Morning Show Commercial will be taped (be prepared)	April 22 – April 26
Posters due for ad campaign	April 29
Commercials will air on the Morning Show on the week of April 29****	April 29 – May 3
Conduct your business during Mini Mall	May 3
Chart profits/losses and complete evaluation	May 3 – May 10

****Machines are NOT permitted at Mini Mall due to the Hillsborough County Safety Guidelines. This includes: crock pots, fondue machines, popcorn machine, snow cone machine, blender, microwave, etc. Foods needing any of these machines need to be prepared at home ahead of time. Please see your teacher if you are unsure if you can use a machinenotlisted above.

In order to give the students a real life experience, we are allowing each business to borrow an amount, not to exceed $40.00 to berepaid with verification of receipts at the conclusion of the business day. They may borrow from a parent, use their savings, or the 5^thgrade fund. Each business will fill outONEloan application and haveONEco-signer (an adult).

We ask that you help keep the expenses to $40.00 to be fair to all students.

The profits that the students make will be donated to the Universal Studios Reward Trip Fund.

In lieu of cash profit payouts, awards will be given out for different categories such as:most creative, most items sold best booth, most profit earned, etc.

Each business will incur “business expenses”. They are as follows:

1. Rental of booth - $1.00OR $2.00 with electricity

2. Advertising fee - $1.00 for two12 inch by 18 inchsigns and a commercial on the Morning Show. Signs must be approved by the teacher andcannotbe posted prior to Monday, April 29th. Signscannotbe taped to any painted surface.

3. 10% tax on profit

4. Materials and supplies – with creativity you can keep this to a minimum