Classroom Economy

The most prominent extrinsic motivator in my classroom is my class economy, or as I refer to it, my choices-based economy.  In this economy, all students have jobs, for which they earn a salary, they all pay rent for their desks, and they all have access to a class bank and store.  The currency used is called a "Jayner." Students are highly motivated to earn this money, and there are many opportunities for them to earn extra cash by making positive choices in the classroom: following directions; being respectful and/or helpful; etc.  Similarly, poor choices will cost you Jayners, hence the "choices-based" reference.

Jayners come in denominations of 5’s, 10’s, 20’s, 50’s, 100’s, and 500’s, and I usually carry around a stack of 5’s to pass out on the spot when I see good choices being made.  This serves two purposes: 1) It allows me to acknowledge students who are making good choices, and 2) It serves as a reminder to students who are not making the best choices.  I usually pass out small denominations, but on the occasion where I’m trying to make a point - like say only one person is following directions while all the others are not - I will pass out a much higher denomination or just unload my stack of 5’s on one person. It serves as a great attention-getter.

Every student needs to have a job (or at least the opportunity for a job) in this economy. It’s difficult to come up with 25 or so relevant jobs, so some jobs need more than one worker and some jobs require more effort  than others. Students are paid on the 15th and 30th of each month, receiving half their monthly salary each time. Students must apply for their job by submitting a job application, and jobs are changed every month or two. Students receive raises for a job well done and can be fired for not doing their job. 

Every student has an account at the class bank. The bank is open once per week for student deposits and withdrawals. On the 15th and 30th of each month, student salaries are put in their bank accounts (by the bankers). On the 1st of each month, rent is taken out of students’ accounts by the bankers. Bankers also subtract fees for messy desks and late homeworks, as reported on by the desk inspector and HW checkers. Students are responsible for keeping an account log at their desk so they know how much they have in the bank. 

Students have the opportunity to spend their Jayners at the class store. The store is open once per week at the same time the bank is open. Two cashiers work the store. They receive money from the bank to make change, and they sell items (erasers, pencils, books, etc.) that I acquire via donations or small purchases.

Every student pays rent for their desk. Rent is paid on the 1st of the month and covers the rest of that month. Initially, rent prices are set as high as students’ salaries to encourage saving. As the year goes on, rent is raised as salaries/earnings increase. Students also have the opportunity to purchase their desks at a price set by me. This price is usually something that is not attainable until some saving has occurred (i.e., 3 months salary, etc.) Once a desk has been purchased, no rent is taken from that student. Also, a student who has purchased their own desk will have the opportunity to purchase someone else’s desk once they saved up enough money. Students who purchase other students’ desks receive rent from that person, and they can set the rent price. However, the rent price can not be higher than the teacher’s rent price.

This economy teaches my students responsibility, forces them to apply math to a real situation, and teaches them the importance of money management.  It's also a great motivator for positive choices, as students see Jayners as real cash and are motivated to earn it.  Now if I could just stop washing wads of it in my pants' pockets.