Fifth grader Samuel Bellieveau displays his hard-earned ‘Kinney Cash.’

WEST HARTFORD – Students in Meagan Kinney’s fifth grade class at St. Thomas the Apostle School are learning firsthand how to survive in a challenging economy. Through the creation of a "classroom economy," the students are experiencing what it’s like to hold down a job, manage their money and purchase commodities.

The project began with the students’ writing a proposal to the teacher stating which classroom job they wanted and how they qualified for the position. After consideration of the proposals, Ms. Kinney awarded each student a job with a weekly salary of $690, payable in "Kinney Cash," for a job well done.

The job possibilities include a floor monitor, who makes sure people keep the floor around their desks neat and paper-free; librarian, who manages the classroom collection of books; flag person, who raises the flag in the schoolyard at the beginning of each school day and takes it down each afternoon; newspaper editor and reporters, who publish a weekly classroom newspaper; and coat room monitor, who ensures that backpacks and coats hang neatly on their hooks each day.

Students also have opportunities to make additional money by sharing their journal entries aloud, demonstrating good behavior and working overtime.

Fifth grader Seamus Sullivan, the shelf monitor, makes sure shelves and cubbies stay tidy.

"If someone’s cubby is messy, I give them a warning. If it’s not cleaned up by the next time I check, they get a $35 fine," Seamus explained.

There also are bank assistants in the classroom whose job it is to pay every employee each week and keep track of fines incurred.

"Although the job is important, it’s the managing of the money that is the lesson for these students," said Ms. Kinney. "Will students save enough money to purchase their own desk instead of renting it? After saving up the $800 to purchase a desk, will they be able to buy more property, such as classroom computers, and rent them to others?

The students have found that it’s easy to spend their wealth frivolously, especially when there’s no homework, she said.

"Each day, I have discovered something new my students have done with their money. They are taking the initiative and finding smart ways to make their money grow," said Ms. Kinney.

"For example, Michael offered to manage another student’s money," she went on. "He manages this student’s money for a weekly fee by keeping track of it and helping her to make good financial choices.

"Ava sold her desk to Sean for a large sum of cash in order to buy a more lucrative property, the back resource table. However, Ned put in the highest bid for the back table, so he purchased it and has already made almost half his money back.

"It is also interesting to see which students are being very conservative and which ones are taking the big risks. It is great to see my students take ownership over the classroom during the last weeks of school," said Ms. Kinney.