Average to above average fifth graders. Student access to calculators. Teacher access to an Apple computer and Appleworks , optional. The Cookie Factory unit starts with a student bake sale. The concepts of budgeting and mathematic predictions are extended with a simulation game.
Students determine how much it costs to make their bake sale items and they set a price.
Then they make change, count money, and determine profit. After the concrete experiences of the bake sale, students work in cooperative groups called cookie companies and compete during a simulation game. They estimate their company sales and calculate their budgeted profit. The budgets are then submitted to the teacher. Each team's sales are determined by formulae that are based on economic theory and team's actions.