Economics students will showcase their own created products during lunch for the annual Econ Fair, March 13. Students will set up stations to promote their goods in hopes to sell most if not all of them to the high school student body.
Econ teachers Robert Foshee and Jordana Siebert prepare students and give them this project in the hopes that students would better grasp the concepts of supply, demand and competition as they relate to business.
“The point of this project is to give the students an idea of what it is to manage a business, work with a partner and sell a product,” Foshee said. “I have prepared my class for the past few weeks for the event.”
Foshee explains what the project entails as well as the requirements for the students.
“The task given to the students was to successfully produce a product and sell it,” Foshee said. “Students needed to think of an original product, promote it on social networks and create flyers, then sell the product at the Econ Fair.”
To make sure the students all go through the same process Siebert and Foshee work as one unity to put on the Econ Fair. The curriculum for this project is the same in both classes to lead the students all in one direction.
“Foshee and I work collaboratively together and we put on the Econ Fair as one,” Siebert said. “So the criteria for both classes is the same so it stream-lines the whole process; it’s equal for all.”
After being a participant in the Econ Fair last year Logan Rood, ’13, has been promoted to judge of the fair. Rood had a great time being a part of the fair last year but is excited to see what the students have come up with this year.
“I had a lot of fun doing the Econ Fair last year but it was extremely stressful,” Rood said. “It was a good experience and it was fun selling my product. I would advise people to make sure to advertise their products to all people and not just a specific group of people. I get to judge this year for the fair so I’m looking forward to that, it’ll definitely be different from last year.”
Siebert is excited to see the variety of products that seem to be overtaking the Econ Fair this year. She is interested in seeing the diversity that the students will bring this year, with the homemade crafts and food products.
“I’m really excited for this second year because I think we have a lot of different ideas,” Siebert said. “There’s going to be some very interesting food choices as well as a variety of backpacks. Backpacks seem to be a big thing this year so it’ll be interesting to see which ones sell.”
To further encourage serious participation in this project, Siebert and Foshee will be choosing two of the best products that sold the most and they will be used as auction items this year at the annual FCS auction.
“Something really cool we are doing this year is watching the students effort and success,” Foshee said. “Based on the revenue and quality of the product we will be choosing their product to be auctioned off.”
Not only does Siebert think it will be a fun experience for the students but also a great way to learn what is required of owning a business and all the hard work that comes with it. According to Siebert it provides a great hands-on project for the students to really get involved in.
“I think its important for kids to do the fair because it teaches them to be entrepreneurs and to think through the lens of owning a business,” Siebert said. “It’s a great experience to show them what it would be like to think through budgets, proposals and prototypes.”
Created items for the econ fair range from food items to blinged out cellphone cases to student calendars. Supporting your fellow students in the Econ Fair is appreciated. Senior Kristen Rosenthal is participating in the event and explains her excitement.
“This years Econ Fair should be really fun, the group I’m in is creating student calendars and hopefully we sell a lot of them,” Rosenthal said. “The goal was to make our product creative and humorous so come out and support us! We have worked hard to make our item.”
For information on the Economics Fair, email Foshee.
This writer can be reached via Twitter: @ShakeshaftEmily.
For more news, read the March 12 article, BREAKING: NSPA names Feather a 2013 Online Pacemaker Finalist.
