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Mini-Economy Day: A Fun, Educational Experience for IPOD Students

This morning, our IPOD students experienced firsthand what it’s like to be a business owner during one of the most successful Mini-Economy Days in our program's history! The hard work and dedication our students put into their businesses paid off, not only in profit but also in the valuable lessons they learned about economics and entrepreneurship.


As part of an interdisciplinary unit on the economy, our 5th and 6th graders have been exploring key concepts such as scarcity, opportunity cost, supply and demand. They’ve been learning about how businesses operate, and today they were able to put those lessons into practice by running their own businesses in a simulated economy.




A Day of Real-World Learning

Each student was given a loan of 100 IPOD Bucks (IBs), which they could use to plan, prepare, and run their own business or form a partnership. This allowed them to create products or services, manage business records, design advertisements, and navigate the consequences of their choices within the Mini-Economy. To help them succeed, students had to make sure they paid back their loans before they could spend their profits on personal purchases at the event—adding a layer of financial responsibility and decision-making.

The most exciting part? Students weren’t just learning about economics—they were also contributing to a real cause. All of the money raised during the event went toward supporting Heifer International, an organization that provides sustainable solutions to poverty around the world. Our IPOD students raised a total of $650 to donate to Heifer International, which will be used to support initiatives like providing goats, bee hives, and clean water to families in need.



Encouraging Creativity and Resourcefulness

While some students may have asked for help purchasing materials or transporting items to school, the goal of the project wasn’t just to make purchases. It was to encourage creativity, critical thinking, and entrepreneurship with minimal investment. Students were encouraged to think outside the box and develop products and services that could sell for a profit without relying on large expenses.

Additionally, students had the opportunity to apply for a Green Grant, which rewarded those who used recycled or upcycled materials to create their products. This was an excellent opportunity to teach sustainability, showing students that businesses can be both profitable and environmentally conscious.

A Real Economic Experience

Today, students set up their businesses and opened for "business" from 8:30 AM to 10:00 AM. The event was designed to be a student-only experience, giving them the chance to interact with peers in an economic setting, sell their products, and make purchases with the IPOD Bucks they had earned. It wasn’t just about earning money—it was about learning how to manage it and understanding the dynamics of a marketplace.



Looking Ahead

Mini-Economy Day was a great culmination of our unit on the economy, but it also gave our students practical experience in entrepreneurship, financial literacy, and giving back to others. It’s an event we look forward to each year, and we’re proud of the creativity, problem-solving, and teamwork our students demonstrated throughout the project. Mini-Economy Day was a huge success, and we can’t wait to see what our students accomplish next!





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EAST CAMPUS

Students in Preschool – 4th grade

520 68th Street SE

Grand Rapids, MI 49548

Phone: 616-455-0310

 

WEST CAMPUS

Students in 5th - 8th grade

67 68th Street SW

Grand Rapids, MI 49548

Phone: 616-455-3860

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