The next time you wonder who thinks up new products and how they get to the marketplace, you may want to enlist the help of one of Sacred Heart's 1st graders who can walk you through the process! That's because recently the entire 1st grade class was tasked with creating a product that they would be able to sell to their classmates, marketing and financing it.
First, the students began by learning basic economic terms such as goods and services, needs and wants, producers and consumers, and supply and demand. Next, they took the economic concepts they were learning about and started to design a product with a team of four fellow students. Their assignment included creating a logo and advertising that would entice classmates to purchase their product.
Each student had been "hired" by the company Creative Paper Crafts (staffed by none other than the 1st grade faculty). And after learning about the expense, profit and loan side of business, students were asked to carefully choose what supplies they needed and decide how much money they would ask for from the school in order to buy what was required.
After making a budget, students visited "loan officers" in order to get receive the monies they needed to launch their product. Currently, they are working on making their products come to life in their "factories." Teaching Assistant Maria Rodriguez reports that they can't wait to sell them to their classmates on Consumer Day. She adds, "Overall, this has been a fun way to teach students economics through project-based learning. Students have had a lot of fun working together and using their problem-solving skills to create a successful business."