Economis is a web-based application that creates a virtual token economy/system for the purpose of teaching students basic concepts of economics, with a special emphasis on money management skills. By using Econ, students gain experience in using a credit/debit card, earning, spending, and online banking. They learn about taxes and even payroll. This experience takes place in a “testing environment” and is a powerful behavior modification tool.

THE FACTS

It’s critical that we ensure that all children have the opportunity to become productive members of society. Children who grow up in poverty are more likely to experience many undesirable outcomes in such areas as health, education, and emotional welfare. The Percent of Children in Poverty is perhaps the most global and widely used indicator of child well-being.

Children in Poverty

• National: 20%
• Delaware: 13%
• New Castle County: 12%
• City of Wilmington: 22%

Source: Kids Count in Delaware (2010 Report)

published by the University of Delaware.

How Does Econ Work?

THE SWIPE: Students are issued an Econ card. The card has the student name and magnetic stripe with bar code. The card is used by the student to clock in and out of a meeting or activity. “Credits” are earned at an hourly rate for the time in attendance.

The hourly rates can vary, from smaller amounts for recreational activities to larger amounts for educational programs, thereby creating an incentive for students to attend meetings and activities which are more learning-oriented.

ONLINE FINANCES: Students login

@ www.myeconomis.com to view their “finances” such as:

• payroll check – pay stub showing the “Hours and Earnings”, “Taxes and Deductions” (such as FICA, state, city and federal taxes), and gross and net pay
• stock purchases
• student checking account
• student savings account
• Certificates of Deposit (CDs)

THE INCENTIVE: Students use their credits to purchase items. Items range from items such as snacks and drinks, pre-paid phone cards and iPods. Students can also pay for events, such as camping trips.