Apr 6, 2009

From the Classroom volume 16

As I get ready to begin my personal finance unit, I find this activity, "Job Jungle", to be helpful in teaching my 18 year old students (who tend to have a pretty high regard of themselves) that workers are only worth what someone will pay them. The point of this simulation is to demonstrate that a firm will hire them only if they contribute marginal product and that their pay increases only if they become more productive.

Can you think of a more important lesson to teach young people who are about to enter the workforce in times like these?