Classroom Banking System

I have started a new system in my class that will run as an experiment for the rest of this semester and if it works I will use it for the next semester.  I feel that my students need a paradigm shift from the typical point system.  I must assign grades in my class with a number value.  I am mostly rubric driven in that point scale.  Most of my students never question a 10 out of 20.  They just accept it and move on.  They don’t read the rubric to see how they can improve because getting a 70 in the class is fine with them.

Enter paradigm shift.  I have substituted the word points for the word dollars.  Instead of a 25 point assignment I tell them that the assignment is worth $25.  I will “pay” them full price for perfect work.  I will withhold payment for incomplete work and will not pay for late work.  I will not pay full price for work that is not perfect.

This is simply a mind game that actually works.  The students are actually excited to get their “money”.  They question why they were not paid full price or why they received $0.  I may have found my student’s currency!

Enter my paradigm shift.  I actually pay more attention to the quality of my students work if I think they are being paid.  It’s kind of like the plumber coming and almost fixing my problem.  I don’t want to pay for crap work and if I am going to pay for work to be done, I want it done right.

So what do my students get with their money?  This is where I need suggestions.  Each point/dollar that my students receive is like money in the bank.  They can use that money to buy things from the “class store”.  I am in the process of stocking the shelves.  My students have suggested homework passes, points on exams, chewing gum in class, etc…  All of the items in the class store would have a point value and I would keep track of purchases.

I need some feedback on this idea.  Is this a good idea?  Is this a bad idea?  Is this a really bad idea?  What should I sell?  How much should I charge for items?  Creativity is crucial…

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