Marketplace Unit

By now, you've likely heard your child talk about the economics unit we've been working on. Indeed, your child is part of a business group that is bringing a good or service to market on 6/10 when we hold the Market Day. My apologies for not contacting you sooner about this.

After having pitched their ideas to the class, 22 different goods/services were chosen to be created and brought to market. Students then applied to work for the different entrepreneurs and business groups were formed. Students have used their understanding of economics and media in order to put together business proposals and marketing campaigns. Some of the goods and services do involve start-up costs in order to bring the supply to market. Students have been instructed to determine how much they need and how the funds will be raised. In some cases, students said that they could split the cost among the group members, in other cases, they've determined they need to seek outside assistance. In that case, they have created business proposals to pitch to their potential investors (in other words, many of you) so that the investors can know the mission of the group, the description of the good/service, any costs needed, the  market research that has been conducted, and the timeline for making it happen. Students are responsible for tracking their expenses and revenue and must return money back to investors before calculating their profit. Like any investment, there is a risk. If a business does not bring in more revenue than its expenses, the investors will not be reimbursed. If you've  been asked to be an investor, we would appreciate you making sure your child is presenting his or her business proposal to you, then you are free to make a financially responsible decision.

We are assessing several speaking and listening standards this with this unit - being a member of a group, public speaking, changing your message depending upon your audience, etc. There is also a social studies standard that has been assessed by checking students' understanding of the unit terms and concepts. Ask your child to see his or her vocabulary book for more details on that.

You are all invited to the final Market Day. On 6/10 from 12:30-2:00pm, the middle school will be transformed into a shopping center filled with artwork, baked goods, phone cases, socks, music, services, etc. for sale. More details to follow.

Please let me know if you have any questions or comments about this unit or the Market Day event.

As always, thank you for your support.