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The Classroom Economy: Teaching Fourth Graders About Inflation

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By Lauren Almond

At the school in Philadelphia where I teach, we have a very robust classroom economy. My students are required to pay “rent” on their chairs, which is due on the first Friday of the month.

Unfortunately, I have some bad news for my fourth-grade students: thanks to inflation, which is causing prices to skyrocket across the country, their rent is about to increase from $5 to $7 a month. It seems only fair, since across the U.S., the average rent is up 12.3% over February 2020.

The dollars themselves might be fake, but the lessons they teach are very real: ways to manage money and keep track of a budget, how to decide whether and when to buy something, what it feels like when inflation suddenly makes daily life more expensive, and how to minimize the impact of these unexpected costs.

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Lauren Almond is a fourth-grade teacher at Perelman Jewish Day School.

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Lauren Almond
Lauren Almond
Lauren Almond is a fourth-grade teacher at Perelman Jewish Day School.

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