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On the Road: 7-12 "Takin' Care of Business": An Introduction to Financial Literacy

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TEACHERS SHOULD PREVIEW ALL CONTENT PRIOR TO SHARING WITH STUDENTS.

"Takin' Care of Business": An Introduction to Financial Literacy

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": An Introduction to Financial Literacy. For additional information on the course and for more teacher resources, see:  http://rockhall.com/education/distance-learning/courses/takin/  

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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Online Resources

Objectives

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,
 as
 well
 as
 their
 connections 
with 
one 
another.
  • 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.

Books

Audio

Video

Archival Resources

New to Archives? Check out:

YouTube Videos

Music Business 101 Bootcamp: Artist Management Music Business 101 Bootcamp: Record Labels Music Business 101 Bootcamp: Booking Music Business 101 Bootcamp: Law, Publishing &More Music Business 101 Bootcamp: Publicity
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