Extra, Extra! LES Mini-Society is one memorable project!
They smile big when they grace the cover; they should. It is exciting to be featured on the front page of LES Entrepreneur Weekly for each student in Loveland Elementary School (LES) fourth grade social studies classes who gets the opportunity to do so. Students turn $100 of “class money” and a mini-society into an opportunity to open up a business and compete.
“Some students sell goods like arts and crafts, while other do carnival-type games with prizes,” said LES Teacher Andrew Price. “Students can also earn up to $5 each day for taking care of their usual school jobs like turning in homework and participating in class.”
Price said the classes come up with a name and a flag for their societies, and can apply for a government job like treasurer or paymaster. Taxes are even collected each week. For five weeks, about 45 minutes each day during social studies time, this is how Mr. Price instructs his class, and has done so for the past eight years.
“This is a way for students to really experience the lesson beyond a textbook – an idea that I originally got from Mr. Paul Tanaka, who has been doing it for many years,” said Price. “I want the students to experience the ups and downs of everyday life. Some of their business ideas are great, but since we do it for five weeks, even great ideas get old for the consumers. So I want to see how they adjust their business accordingly – like lowering prices or developing new ideas.”
Price creates the front cover to a fictional magazine – LES Entrepreneur Weekly – to celebrate a successful business each week.
“The students really strive to be on the cover and look forward to seeing which businesses are mentioned in the headlines,” said Price. “This project is probably the most memorable one for my students each year. When I have former students visit, even those in high school, they always mention how much they enjoyed this lesson.”
Photo caption: LES Fourth-Grade Student Riley Loomis made the cover of LES Entrepreneur Weekly during May.