The economy of EDP is carefully designed to involve ARS members in learning the economic cycle, by teaching them the values of work and helping them understand how the process of exchanging money for goods and services works.
Our Currency
Staters is a global e-currency.
Staters is the accepted e-currency of ARS Members. It is accepted by merchants in the Elite Development Programme’s virtual mall, HANGOUT. It is exchangeable and transferable via Staters ATM / Mobile / Web App.
Earn a salary
Earn a salary from a job or your own business
Earning Staters. As with any economic system, goods and services are purchased with money, and money in return must be earned as payment in exchange of work. Hence, ARS Members need to apply for a job and earn a salary. Salaries for different jobs vary according to the principle of supply and demand.
E-Card
Staters RFID Cards are touchless cards. Secure and easy to use use at home or school.
Staters ATM
Use the Staters ATM to check their balance ahead of making a purchase in the Hangout virtual mall.
Staters Mobile App
Only Staters Earned can be saved, spent or invested. All done on your personal Mobile or Web App.
Bonus | Fines | Rent | Loans| Others
INSURANCE
Insurance premium is deducted ahead of payment to ARS members accounts.
TAXES
The goal of financial literacy is complete when ARS members learn about how taxes contribute to the benefit of the community. A portion of their salary is discounted to cover their taxes, as in the real world.
BONUSES
In addition to the salaries that ARS members earn from their jobs, they can earn bonus money. The bonuses give ARS members more opportunities to succeed in the EDP.
FINES
In the EDP, the role of fines is to help students understand costs and consequences—it is not to punish them. The list of fines are short and direct, matching your classroom priorities. .
R E N T
The obligation to pay rent is central to the EDP. These are key concepts:
An ARS members salary should not quite cover the weekly rent. To make up the difference, students need to earn bonus money.
ARS members who do not meet their rent payments should face some loss of privilege within the system.
Those who make their payments and manage to save additional money reap benefits.
ARS members who miss a rent payment are excluded from auctions and other privileges. When ARS members miss rent payments, it’s important to get them back on track as soon as possible. Missed payment is an opportunity for a discussion about choices, then encourage the ARS members to earn bonuses so that they can catch up on rent.