Learning about fiscal policy may seem boring to some. Add in a game of Monopoly and it’s a whole different story!
Immokalee High School teacher Diana McGowen found the idea online and was able to tweak the game to cover concepts taught in her 12th-grade Economics classroom. “Students have to write down data based on the components of Gross Domestic Product and then compare different years to find out if it is increasing or decreasing. The second part of the game has to do with what Congress does in different stages of the business cycle, for example recession or expansion.”
The students learn when Congress will increase their taxes (during an expansion) or decrease their taxes (during a recession).
McGowen’s Fiscal Policy Monopoly involves groups of five students:
• Mayor: Reviews the rules for Monopoly and ensures rules are followed.
• Banker: Handles the money.
• Real Estate Agent: Keeps up with property.
• Economist: Records spending and computes Gross Domestic Product.
• Recorder: Writes down properties and personal banks.
The assignment is to play Monopoly while keeping track of items that would be counted toward Gross Domestic Product. In addition to the real Monopoly rules, McGowen added the following:
What a creative way to make a topic come alive!