Teachers, Try This: Use a 'Classroom Economy' to Teach Financial Literacy 

Shelby Lattimore, a third grade math and science teacher at Renaissance West STEAM Academy in Charlotte, N.C., introduced the idea of classroom jobs and a reward system to her students at the beginning of the school year. When she noticed how quickly they grasped the concepts, she slowly incorporated new elements-like rent, inflation, and currency exchange rates-to keep her students engaged.
The result is a classroom economy: a microcosm of real-world economics at play without real-world consequences if students make a mistake.
Here, Lattimore shares her tips for how other teachers can get started, and explains why it’s important to introduce younger students to these concepts.