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Nearly twelve years in the past I revealed a Google Doc that outlines a private economics simulation that I performed in my classroom. For a few years after that it was the most-requested Google Doc that I revealed. Then for the previous few years I have never had any requests for it. The truth is, I forgot that I had even revealed it. That modified this week when out of the blue I bought a number of requests for it. You may get a duplicate of my simulation, Life on Minimal Wage proper right here.
The aim of Life on Minimal Wage is for college students to acknowledge how troublesome it’s to save cash when your solely job(s) pay minimal wage with out advantages. To win at Life on Minimal Wage the scholars have to achieve 5 monetary objectives that they choose. To earn cash the scholars have to finish the duties of their assigned jobs. The scholars then must pay required payments earlier than utilizing cash for his or her chosen monetary objectives. As the sport progresses college students can be issued “shock” playing cards which require them to spend cash on issues like rushing tickets, journeys to a well being clinic, and will increase in hire.
All the jobs in Life on Minimal Wage are linked in order that if one enterprise slows manufacturing or closes, the employees of one other enterprise are additionally impacted. The purpose right here is to reveal the results of a enterprise closing on a small city’s financial system.
Necessary notes earlier than utilizing this exercise:
I created this exercise twelve years in the past and I’ve not adjusted it for inflation since then. You will most likely need to do this.
Earlier than you electronic mail me in regards to the Browning rifle purpose card, please perceive that these had been objectives chosen by my college students in a rural group wherein looking is commonly a household custom. You are welcome to vary that card to be used in your individual classroom.
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