Parent Informational Meeting April 13, 2010 WOS Grade Three Teachers

 Welcome  Overview of Mini-Society (Economic Unit)  What is it?  Why this approach?  Educational Connections  How parents can help

Mini-Society is an experience-based instructional system targeted primarily for teaching entrepreneurship, economics, and citizenship concepts to students ages 8 to 12.

Mini-Society was developed by Dr. Marilyn Kourilsky. It has been refined over three decades, and it is in use by teachers and students in over 43 states. Mini-Society is endorsed by the U.S. Department of Education.

Mini-Society is NOT a simulation; it is a real experience for students. Thus, students are highly motivated to learn concrete economic concepts that affect them today, not abstract ideas that they’ll need to know sometime in the future.

In the Mini-Society, students develop an economic society under the guidance of their teacher. Children identify business opportunities and initiate entrepreneurship ventures to provide goods and services to their fellow citizens.

When in full swing, students will begin financial exchanges, form business partnerships, and encounter the dilemmas confronting members of any economic system.

 Personal as opposed to vicarious involvement. (Real life vs. simulation)  Active as opposed to passive roles.  Opportunity for decision making, the consequences of which students will bear.

 encourages independent, creative, self- directed inquiry learning  Develop and experience their own "real world" in the context of entrepreneurship  Acquire concepts and skills in multiple subject areas  Discover the importance of cooperation  Learn about setting and achieving goals  Develop understanding how scarcity and choice govern our economic decisions

 Class currency is infused into the “society” through an auction.  Items may be brought in to auction off. All sales are final! Students need written permission from parents/guardians to auction off their property. A permission slip will be sent home separately.

Spend no more than $10 over the course of Mini-Society on materials for your child. This is critical! As much as possible, we want students to be creative in using low- or no- cost materials. * Please…no selling of food or drink!

Materials you provide... and your work. If you help your child produce goods, negotiate a labor contract. Consultant fees Bartering services Allowance (class currency) If you give your child free labor, they cannot accurately calculate their profit margin. (Profit = Income - [labor+ materials + overhead capital])

Encourage entrepreneurship in your child. Help her or him find creative and innovative ways to make products (goods) or services with *little or no money. Recycle! Students are encouraged to use materials they already have to construct product.

 We will have several “Market Days” and invite you to come to one Market Day as well.  The dates/times of Market Days will be given in advance, including the one in which families are invited to.