Service Learning in Economics:Reality day
Professor Katherine SchuesslerMarian University
Economics Teaching ConferenceNovember 7, 2014
"Service-Learning [is] a credit-bearing, educational, experience in which students participate in an organized service activity that meets identified community needs and reflect on the service activity in such a way as to gain further understanding of course content, a broader appreciation of the discipline, and an enhanced sense of civic responsibility" (Bringle & Hatcher, 1996).
What Is Service Learning?
Reality Day- a personal finance simulation for high school students.
Video of “Mad City Money” https://www.youtube.com/watch?v=OMbwCUGm9L4
Service Learning in Economics
Staff the stations and advise high school students with the help of community members.
Research costs and provide the options for each station.
Role of College Service Learning Students
First step: Orientation for the high school students.
◦ High school students are assigned an occupation based on their expressed career interests and a “life status”.
◦ The life status includes such things as marital status, children, pets, student loans and credit card debt.
A Walk Through of Reality Day
First step: Orientation for the high school students.◦ Students complete the top of second page of
yellow handout.◦ Explain the tax withholdings and net pay, discuss
child support ◦ Have H. S. students enter the net pay into a
check book ledger.◦ Assist H.S. students in writing their first check –
usually student loans- and enter into the ledger.
A Walk Through of Reality Day
On to the stations: Visit the Financial Station to deposit paycheck
and pay student loan.
Next visit Real Estate and Automotive stations
Write a check or use a debit card or each payment and enter it into their checkbook.
A Walk Through of Reality Day
RENTALS
OPTION A
OPTION B
7 UNIT APARTMENT (For single persons only)
Bedrooms: 1 Bathrooms: 1 Living Area: 500 sq. ft. Parking: Off-Street Includes: Heat, Water, Trash Pick-up NO PETS ALLOWED Security Deposit paid with application
RENT: $450 per mo. ********************************** 3 UNIT APARTMENT Bedrooms: 2 Bathrooms: 1 Living Area: 1150 sq. ft. Parking: 1 Stall Garage Includes: Heat, Water, Trash Pick Up, Lawn Care. PETS ALLOWED Security Deposit paid with application
RENT: $590 per mo.
Students must: visit the remaining stations in any order.
stop at each station and receive a stamp even if it doesn’t’ apply to them.
visit the Checks and Balances after every five transactions to show that their check book balances.
A Walk Through of Reality Day
Students are required to pick up two Fate Cards These bring the recipient good or bad news….
A Walk Through of Reality Day
FATE CARD
Time for new brake pads on the car. Pay $175 at the Fate Table.
FATE CARD
You had a rummage sale and made $125. Visit the
Financial Station and deposit your money!
FATE CARD
You had a rummage sale and made $100. Visit the
Financial Station to deposit your money!
Optional stationsSOS : Help for students who run out of
money. It may be food stamps, or housing assistance or a payment from a charity.
Judge/Government – Pay any fines here
Bus tokens-an option for those who chose not to buy or lease a car.
A Walk through of Reality Day
Optional stations
Part- time Jobs: Can’t make ends meet and you don’t want to trade in the truck? Get a part-time job for 4-25 hours /week.
A Walk through of Reality Day
Random Events
Nurse cards: a nurse randomly gives out cards informing the unfortunate recipient of a medical problem and corresponding bill
Tickets: beware of the police officer writing tickets. Many students are fined for speeding, disorderly conduct or littering.
A Walk through of Reality Day
Budget Adjustments:Often the students run out of money and want to change the home or cars they have selected
A Walk through of Reality Day
College Volunteers write a two page paper reflecting on their experience and responding to the questions below. Their ideas are shared with the class.
What? What happened? What did you observe? What issue is being addressed in this event?
Reflection
So What? Did you learn a new skill or clarify an interest? How is your experience different from what you expected? What did you like/dislike about the experience? What did you learn about the people you served and those you worked with?
Now What? What did you learn from this experience? How does this learning relate to economics? How can you apply this learning? What changes if any would you make to improve this event for the various participants?
Reflection
Increased their understanding of the personal finance
Practiced skills in leadership,
communication and collaboration.
Connected with professionals and community members who they will learn from and may connect with again later for jobs or internships
Benefits to Students Volunteers
Have a more positive outlook on both the class and on service to the community
Had fun!
Benefits to Students Volunteers
H.S. students face tradeoffs in managing their scarce resources.
H.S Students have a better understanding of costs.
Students learn that their own human capital (knowledge and skills) is their most valuable resource and the importance of education and training in their future economic success.
How Does this Service Learning Project Relate to Economics
Grading Service Learning
Orientation of Volunteers
Background checks
Other Matters
“Students need to rethink their career paths. People with incomes under $2000/mo. expected it to go much farther than it did.”
“I was rather surprised by how, for lack of a better word, clueless some of the students were.”
“Young people have no idea how expensive it is to have a child. One girl told me her daycare was more than her house payment; I just sort of giggled because I know it is true.”
“The funniest thing to hear was all the complaining they did because of the huge expense of daycare and also, having to buy diapers.”
Comments from Service Learning Students:
“I worked checks and balances and I loved it. This is exactly what I will probably be doing in a very short amount of time so to be able to get this kind of experience firsthand really was great.”
“I learned that I was very capable of explaining the viable options that the students had in investing their money. I got one pointer from a community member. I told her that I was a little nervous and that I may not know how to explain the concepts to the students. She told me not to worry, that I already know more than they do and if I don’t, just fake it. As long as you sound confident in your explanation they will never question you.”
Comments from Service Learning Students:
“This opportunity is a great way for college students to get a glimpse of the realities that are to come after college…..teaching these students is a way for us to become better prepared as well.”
Comments from Service Learning Students:
Eyler, Janet, and D.E. Giles. A Practitioners Guide to Reflection in Service-Learning. Nashville: Vanderbilt University, 1996.
Implementing Service Learning in Higher Education Author(s): Robert G. Bringle and Julie A. Hatcher Source: The Journal of Higher Education, Vol. 67, No. 2 (Mar. - Apr., 1996), pp. 221-239 Published by: Ohio State
References
Thank you!!
Questions?? Suggestions??