RCCA Students Learn Personal Finance
The seniors in the Civics course are working on a Personal Finance course that has them learning about topics that range from the economic way of thinking to career preparation and managing their money properly. It is an incredibly practical course that they have been very interested in as it is something they easily see the connection to in their lives. The idea is that when we finish this unit they will better understand the intricacies of how to make and manage their money while creating lucrative lifestyles for themselves.
In this particular activity, the students were learning about the circular flow of economics and how they fit into this system. This was a simulation where each student either had to play the role of a household or a business. The households had resources (human, natural and capital) that the businesses needed to buy in order to create goods at the “factory.” Once the businesses created the goods, they then had to return to the households to try and sell their wares. At the end of the simulation the household with the most goods won while the business with the most money won.
The students had fun with this activity, but more importantly, they really had a solid grasp of how prices become set because of supply and demand and understood their role in the economic system. We have some burgeoning entrepreneurs on our hands here at Clemente!