The class collaborated with Parker to set prices for the trade show to demonstrate a ten percent profit . Classmates calculated the percentage with their fractional understanding of . After incorporating the feedback of classmates , Parker presented at the school-wide trade show . He communicated his mathematical thinking by creating posters for his booth that displayed his mathematical thinking and justified his pricing . He additionally brought sample products for students to review . When arriving at the trade show he realized that other students were presenting rainbow loom products . Competition between vendors selling the same items ensued during the tradeshow and led to detailed discussions on item quality and price point for buyers . A buyer observed , “ The Rainbow Loom Bracelet Company uses more bands per bracelet and offers more colors . The IMA Company has more styles of bracelets , but their looms are really loose .”
The tradeshow where students showcased their own handmade products led to fruitful discussions between vendors and buyers . The students tracked sales numbers for these items , maintained inventory , and made additional purchasing requests to vendors . Student interest in this aspect of the school store venture was apparent , as students asked to host a second product tradeshow .
Conclusion
Developing and conducting an authentic school store through an elective course or school club offers teachers an opportunity address financial literacy and mathematics in a creative and engaging way . Below are some suggested resources on financial literacy to help you get started :
• Dollars and Sense for Kids : http :// www . banksite . com / kidscorner /
• Financial Literacy ( U . S . Mint ): http :// www . usmint . gov / kids / teachers / financialLiteracy /
• Kidpreneurs : Young Entrepreneurs with Big Ideas !: http :// www . kidpreneurs . org / Heather Glynn Crawford-Ferre is a doctoral candidate in mathematics education and a teacher . Her professional interests include mathematical literacy , out-of-school time STEAM programming , and equity issues .
Stephanie Vega is a doctoral student in mathematics education and an elementary school teacher . She conducted this creative financial literacy project with her students . Her professional interests include equity and diversity , research methodologies , and teacher knowledge .
STEAMed Magazine
19
January 2017 Edition