Hands on business learning for 4th graders
Print Edition
Extra! Extra! Read all about it! Fourth-grade entrepreneurs at Shanghai Community International School start up their own small businesses at the annual 4th Grade Market Day.
Grade 4 students have been hard at work studying economics. From visiting real businesses, to starting their own, these young businessmen and women have been learning what it takes to make it in today’s economy.
We began this unit at the Pearl Market. Students went on a photo scavenger hunt. In small groups, they were responsible for taking photos of different goods versus services, wants versus needs and even the way different vendors set up their stands. This was a great way to start the economy unit. After the field trip, the students analyzed the different photos and this led to some wonderful discussions about competition, target markets and advertisements.
After this, the fourth graders participated in different inquiry-based activities that helped solidify what they already knew about economics, and assisted in building new understandings. The diamond ranking activity for wants and needs led to some interesting discussions as well. The students had to rank order from most important to least. This activity really gave students a deeper understanding of the difference between wanting something, and needing something in order to survive.
Some other highlights from this unit included a visit from Samuel Ng, a real-estate professional in Shanghai. He spoke to one class about how he must analyze the economy daily for his job. We also watched many videos of young entrepreneurs and discussed why they were so successful. Finally, our reading selections, “Toothpaste Millionaire” and “The Lemonade War,” were especially beneficial. Both stories highlighted fictional young entrepreneurs and gave the 4th graders the needed inspiration for their own Market Day creations.
The unit culminated at 4th Grade Market Day. The students worked for weeks to design a business plan, create a unique product, develop an advertisement complete with a business name and slogan, and market their product to other classes by giving their memorized sales pitches. On the big day, the entire school was impressed by the hard work put forth by the fourth graders. This year’s Market Day was a huge success. Moreover, the students decided to donate 80 percent of their profits to Morning Tears, a local charity committed to housing orphaned children. The 4th graders at SCIS were able to present a check to this charity for 16,033 yuan (US$2,582).
These young entrepreneurs were truly able to grasp some challenging economic concepts and bring them to life through their own businesses. And, because of the work these fine students put forth, children that are less fortunate will benefit from their efforts. Is there any better way to end a school year? We are all extremely proud of you 4th graders.
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