It is true what they say, you learn something new everyday. Teaching with Bizwiz!

Just last week I was introduced to a program called Bizwiz. By creating a video using go-animate and by researching into the program, I realized how important it is to teach students about economics from an early age. Until we started the unit on the economy I never realized how little students are learning about the economy when it comes investments, management, and finance. Even thinking back to when I was in elementary school, the only thing I ever remembered learning about the economy is about handling money. However, this is something that children need to learn in elementary school, middle school, and even high school. The sooner students learn about how our economy works, the better off they will be, and the more knowledgeable students will become. What is great about Bizwiz is that it is appropriate and beneficial for students of all ages! 

What is Bizwiz anyway? 

What is great about going to school in the 21st century is students getting introduced to all sorts of programs and technology that I could never have even dreamed of using when I was in elementary school. However, by taking education courses, this one in particular, I have been introduced and familiarizing myself with programs and tools that can be used inside of the classroom when it comes to engaging students. The day of lectures is over... and programs like Bizwiz is moving in. So what did I learned about what Bizwiz is? 

From my research, I have learned that Bizwiz is a project-based program that gives students the opportunity to explore the word of investing, and as I have mentioned before, teaching students about investing at  a young age is important because it teaches students about the real world. Additionally, students will learn the basics of investment types, portfolio management, and financial planning (ALL WORDS STUDENTS SHOULD AND NEED TO KNOW) as they engage in activities that reinforce all subjects such as math, social studies, language arts, and economics. Such as cooperative learning does, bizwiz emphasizes the values of teamwork, cooperation, and communication and is easily adapted to accommodate grades 5-8.... and the elementary and high-school grades too!!! 

What is in a Bizwiz kit?

The bizwiz kit contains materials that are needed to teach the program to students- what is great about giving each group (3-4) of students a kit is that they are working with authentic materials that provide students opportunities to work hands on and form interpersonal and business relationships! 

Materials inside the kit include: 

• Bizbucks a.k.a. monopoly money 
• Bizwiz Big Board 
• Wild Cards 
• Investment cards 
• Teacher manual and resource guide 
• Investment team packet 
• Correlations to national standards 

So, the materials included are for both students and the teachers. 

Additionally, the Bizwiz program is organized in fourteen sections, which makes it easy and simple for both teachers and students to follow. The scope ranges from pre-assessment and the learning about the investment world to evaluating investment strategies and post-assessment and evaluations. 

21st Century Learners 

Besides the fundamental aspects of Bizwiz this program is great for 21st century learners because by having students work in their own investment teams students learn at an early age how to develop teamwork and collaboration skills, team work skills, and gain a professional work ethic. To be completely honest, if I was given an opportunity to work with this type of program when I was younger, I may know more about the economy- besides what I have learned in textbooks and during lectures. This is a great and interesting way for students to learn how to manage money, develop financial strategies, and create investments... I was never given this opportunity. This is why students today are lucky. They learn how to use technology and authentic materials in order to be learners- then use what they have learned out in the real world... as a future teacher, I am learning a lot about this now.. and it is going to be helpful when I am a teacher... I will incorporate Bizwiz into my classroom! 

I worked with Felicia and Julia in order to write a script and record a video  on why Bizwiz is important. The conversation took place at a supermarket and was between a teacher (me) and Mr. and Mrs. Smith (Felicia and Julia). The scenario was that Mr. Smith loved Bizwiz and was glad that his seventh grader is using it inside of the classroom, while Mrs. Smith needed convincing. However, after explaining the benefits of Bizwiz, I convinced Mrs. Smith that Bizwiz is actually great to use inside of the classroom. 

Here are the links to both the go-animate video and link to the resources we have used in gathering information: 

Resources!

Our Bizwiz movie!

 

Eagerly Exploring Economics

What is economics? 

A body of knowledge developed by people in order to extend their scarce natural, human, and capital resources so that they can fulfill their basic needs and wants! 

With that being said... how is economics influential?

 Economics impacts the lives of all people, communities, and nations!

                     

                              How does economics impact people?

• It influences the way people spend money.
• Do we have enough money to buy the things we want? To support our families? To make a living? 
• People want more than they can afford, but there is an imbalance of wants and resources. The  term for this is scarcity, and it requires people to make choices. 
• What do I need more: The new I-phone or a new car? 
• Decisions.... decisions... 
• People are encouraged by economists to make decisions that  consider economic long and short-term consequences- it reduces snap decisions and impulse purchases!
• 
• People's personal economic decisions affect the economy through sales of goods, services, and the use of productive resources
• Votes influence the ways in which government spend and acquire money

                How do we help members of our community make good economic        decisions?

                                                   

Economic groups of professionals help everyone make important decisions when it comes to the economy, but they all share different perspectives!

                                         

•   One group  is composed of academics and they look at economics as a study of concepts, their relationships, and the decision-making process 
• One group is composed of members of business and labor communities who see economics as related to the importance of jobs, work, production 
• One group is composed of consumer advocates who help individuals get accurate  information to make personal decisions 
• One group is conservationists who want to save natural and human resources 

This is a great book for the elementary grade students (k-6) to read, because they will understand how economics and money influences people's lives! It gives children advice on why it is important to save and invest money, and helps children understand the responsibility of money. In addition,  it allows younger children to color in the pages and it can be used for all elementary school students. Teaching students about financial and economic matters at a young age will prove to be beneficial when they are older, and even at the age they are at now. It is never too soon to start learning about how the economy impacts our lives!  

                                           National Economic Concepts  

• Nations trade with one another because they want products and resources that other nations have
• Some nations provide a a good or service in better, faster, or larger amounts. 
• Nations seek a balance of payments between nations 
• Economic conditions within a nation can prompt the movement of both goods and people
• Many people migrate to countries such as the United States for economic opportunity, such as jobs 

                                         Check out the video!

  This video explains in a simple and easy  way what trade is, why nations trade with one another, and how it is beneficial for the economy.  The interviewer even asks students why they think nations trade, so we get different perspectives and a better understanding. 

Great Interactive cites for children to learn more about economics!