Tip #1: Co-create your economy with your students.
Have your students create your classroom bonuses, fines (if you use them) rewards that they want to work towards, and jobs that would help your classroom run smoothly. This flips the model from "I am the teacher, do as I say" to a collaborative classroom environment where everybody plays a vital role and has a voice.
Tip #2: Utilize student jobs to run the show
Banker: Sends bonuses and other transactions to students
HR Department: Reviews job applications and hires students for classroom jobs, oversees if students are completing their responsibilities
Store Clerk: Manages your classroom store and passes out rewards to students
Tip 3: Regularly check in with your students!
Regularly check in with your students to see how everything is going, and if they would like to change anything. Just like our economy constantly evolves, so can your classroom economy!