Welcome to Economania!
Welcome New Economania Citizens!
By taking this class, you have become a part of a community complete with its own mini-economy. Along with the economic concepts covered throughout this course, we will examine some financial literacy topics through a simulation called Economania. Economania is a fictional town where the citizens work at various classroom management jobs, pay rent to use their desks, pay utilities and taxes and practice with investing money.
Your primary job is to be the best student you can be and you will be paid accordingly. As with many jobs, you will not be paid for absences and you will be docked pay if you are late to your job. You will have many opportunities to earn money during the next few months including payment for As and Bs on tests and grade reports, extra jobs, overtime, and investments.
Economania is an ongoing project with daily, weekly and monthly activities. Your main responsibility though is to manage your money by keeping accurate records of spending and income. You will do this by keeping a checking account register and reconciling it with the bank records every month. This will be for a major grade. Here is a breakdown of how the assignment will be graded:
v If you have money in your account and you have correctly reconciled your account, you will get a 100.
v If you have money in your account and you have attempted to reconcile your account but your account has not been correctly reconciled, you will start with a 90 and you will have 5 points deducted for each error not found in your account.
v If you have money in your account and you have not attempted to reconcile your account you will start with a 70 and will have 5 points deducted for each error in your account.
v If you have been overdrawn (negative balance) but your account is correctly reconciled, you will get a 85.
v If you have been overdrawn (negative balance) and your account has not been correctly reconciled, you get a 60.
Remember this is a TEST grade.
***At the end of the semester, everyone will liquidate their assets and the richest person from each class will receive a 100 on the Financial Literacy Exam! The second richest will get a 95 and the third richest will get a 90. Everyone else will have to take the test!
Take a minute to look over this packet and fill out the Employment Application. You have until Friday to return the completed, signed application. Extra jobs will be awarded on based on completion of application, persuasion, class grades and class behavior. For the first 6 weeks I will also consider applications in the order in which they are returned, so hurry and get that application in!
All Economania forms (including applications) are posted on my website in the Economania section if you need to print out extra copies.
Sincerely, Mrs. Lowry
Economania City Manager