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"Takin' Care of Business": A Rock Band Finance Simulation
Suggested Grade Level: 7-12
This research guide serves as a resource for the Rock and Roll Hall of Fame and Museum's Education Department course, "Takin' Care of Business": A Rock Band Finance Simulation. For additional information on the course and for more teacher resources, see http://rockhall.com/education/inside-the-classroom/rockin/TCB/
Students know exactly what music is on their iPods, but they rarely understand that the artistry and glitter of superstardom depends upon a complex business network that must remain financially stable. This class will take students behind the scenes with a real-world simulation that puts them in the shoes of a rock band’s tour manager. In the class activity, students will apply mathematical and financial concepts to help manage a fictional band through a cross-country tour. This will involve weighing some serious financial concerns about profit and loss: What expenses might they have to budget for? Where will the money come from? How will they respond as managers when ticket sales are lower than expected? Any number of scenarios might affect the tour budget and thus their company’s bottom line.
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For Your Students
These resources, pulled from class discussion and selected from the Library and Archives' collections, will help you to:
Identify and describe the major components of the modern music industry, and the ways in which they are connected.
Describe the benefits of fiscal responsibility and recognize the accountability of financial planning in real-life applications.
Apply mathematical modeling to business and consumer situations.