Special Projects Process

The use of special projects to make clear the usefulness of the concepts of economic and financial literacy is best approached as a collaborative effort between teachers and students. Whether your project is large or small, for elementary or high school, the following steps provide a guide to getting started.

  • The teacher should act as facilitator, rather than as director.
  • Keep the object of the project relevant.
    • Relate it to existing curriculum.
    • Choose a project that utilizes the talents, skills or interests of your students.
    • Use it to supplement a neglected area of instruction.
  • Encourage students to make as many of the project decisions as possible. This will give them a sense of ownership of the process.
  • Define the goal, length of time, and funding necessary for your project.
  • Define the resources available for use in the project.
    • Dialogue with people in the community. They may be a source of material or in-kind resources.
    • Tap into school themes or community celebrations and events that you can leverage.
    • Talk with professionals in the field of the business you are simulating. Seek their insights and invite them to share their experiences with the students.
  • Determine clear, measurable responsibilities for each student or position.
  • Establish defined time periods to work on the project.
  • Establish a series of measurable benchmarks to help students learn the skill of achieving a larger goal by breaking it into small, manageable pieces.
  • Schedule a de-briefing session at the end of the project. This is a vitally important part of the process and must not be omitted.
    • Compare the project outcomes to the original goal.
    • Have students verbalize any problems or concerns they had during the course of the project.
    • Working backwards from the outcomes (both good and bad), determine the choices which led to those outcomes.
    • Have students brainstorm for solutions to any problems found.
    • Have students offer suggestions for any improvements which could be made in subsequent projects, from both an overall and an individual perspective.