“South Lake Elementary School transformed into a bustling marketplace as students participated in the Shark Market. The primary goal of the Shark Market was to introduce students to project-based learning and provide them with a hands-on and practical understanding of basic economic principles. The Shark Market drew its inspiration from the book, EngiNerds, by Jarrett Lerner. As part of the ‘Deep Dive’ program, all South Lake families will have access to an audio version of “EngiNerds” to listen to.
Prior to the event, the 6th grade students were tasked with creating their own business plan, designing products, and developing their own advertisements. These young entrepreneurs drew in eager customers from kindergarten to 5th grade by showcasing an array of creative products from handmade jewelry and bookmarks to slime and plushies, and much more.
One of the key elements of the Shark Market was the autonomy given to students in setting prices for their goods. Through estimating production costs, they established price points ranging from as low as 50 cents to as a high as $3.00. This process not only taught them about pricing strategies but also about the importance of considering expenses and profit margins in business. It also ensured accessibility for all students, regardless of their budget.
As the day progressed, students in grades K-5 eagerly browsed the businesses, assessing products and making purchasing decisions. Meanwhile, the 6th grade students diligently manned their tables, engaged with customers, and made sales with many businesses selling out before the event’s conclusion.
As the event drew to a close, the 6th graders tallied up their earnings and assessed whether they turned a profit or suffered a loss. It was a lesson in accountability and financial literacy, as students grappled with real-world scenarios of revenue and expenses.
In the end, the results spoke volumes. The Shark Market proved to be a resounding success, generating a total revenue of $1,373.87. This impressive sum will contribute to 6th grade’s end-of-year field trip and celebrations.
Thank you to South Lake's Media Specialist, Mrs. O'Leary-Peacock, and Media Assistant, Mrs. Denton, whose stewardship and commitment were instrumental in organizing this extraordinary event.”