Classroom+Economy+-+Rules+and+Regulations



**Class Economy – Rules and Regulations **


 * Welcome to the classroom economy of Izzyland. Part of your grade will be determined by your participation in the classroom economy. You have been hired to work for me (the government of Izzyland). Your job is to be the best economics student that you can be. Your pay is compensation for coming to class, participating in class activities, and completing classwork and homework. Payday is every Friday (when we meet as a class).


 * Bonuses can be earned in various ways. Exceptional performances on tests and quizzes, completing assignments in a high quality manner, and asking intelligent questions during class discussions are just some of the ways to earn extra cash. Some students may be hired to perform additional tasks in Izzyland, such as distributing handouts, passing back papers, or becoming a class accountant.


 * One of the first rules of economics is that nothing is free. This rule applies to the class economy as well. Tardies, using the bathroom, trips to your locker, disrupting class, failure to bring learning materials to class, and even the use of a desk will cost you some of your hard earned cash.


 * You are free to charge other residents of Izzyland for any goods or services you provide for them. If someone needs a piece of paper, you may charge them for it. The same is true for pens, pencils, etc.


 * Students who run out of money may attempt to get a loan from another member of the class, but lenders may (and are encouraged to) charge interest on the loan. Any such agreements must be done in writing with the signatures of all concerned parties, copies of which must be filed with the Bank of Izzyland.


 * Wages and prices for goods and services can change at any time without prior notice.


 * Your goal is to earn/save as much money as possible. You will eventually have the opportunity to invest in real estate and, possibly, the stock market. The total money you have earned/saved at the end of the year will determine your "Classroom Economy" score which will count as a homework assignment. The average wealth will be equal to a 75% and scores will be determined accordingly.


 * Each student will be responsible for maintaining an up-to-date Cash Accounting Page. Every time you receive or pay money, you must record the entry on your Page.


 * Each student will also be responsible for making sure that the amount of money listed on the Cash Accounting Page equals the actual amount of cash in his/her wallet. Any discrepancies (+ or -) will lead to a financial penalty.


 * You are responsible for your money. If it is lost or stolen, you are out of luck (and out of money).


 * Any business partnerships or corporations (teaming up with one or more people) must be approved by the government of Izzyland (no secret partnerships allowed). Potential businesses must complete the necessary paperwork and approved businesses are subject to appropriate business related taxes.


 * Any disagreements, problems, and confusion with the rules of the class economy will be settled by the government of Izzyland. All decisions are final and legally binding.