Free Expertise for Academics: Life on Minimal Wage


Nearly twelve years in the past I printed a Google Doc that outlines a private economics simulation that I carried out in my classroom. For a few years after that it was the most-requested Google Doc that I printed. Then for the previous couple of years I have not had any requests for it. In truth, I forgot that I had even printed 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 tough it’s to economize when your solely job(s) pay minimal wage with out advantages. To win at Life on Minimal Wage the scholars have to succeed in 5 monetary targets that they choose. To earn cash the scholars have to finish the duties of their assigned jobs. The scholars then should pay required payments earlier than utilizing cash for his or her chosen monetary targets. As the sport progresses college students might be issued “shock” playing cards which require them to spend cash on issues like dashing tickets, journeys to a well being clinic, and will increase in lease.

All the jobs in Life on Minimal Wage are related 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 consequences of a enterprise closing on a small city’s financial system.

Essential 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 e-mail me concerning the Browning rifle purpose card, please perceive that these had been targets chosen by my college students in a rural neighborhood through which looking is commonly a household custom. You are welcome to alter that card to be used in your individual classroom.

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