Activity 01
Budget Simulation: Gig vs. Traditional Employment
Students receive identical income scenarios for a gig worker and a salaried employee and calculate actual take-home pay, factoring in self-employment taxes, the cost of replicating benefits independently, and income volatility risk. They assess which arrangement is financially better under different life circumstances such as single, with dependents, or near retirement.
Explain the economic characteristics of the gig economy.
Facilitation TipDuring Budget Simulation, circulate with a timer and provide blank spreadsheets so students practice tracking irregular income streams, not just flat paychecks.
What to look forPose the following question to students: 'Imagine you are advising a city council on regulating ride-sharing services. What are the two most important economic considerations you would highlight regarding the gig workers who drive for these services, and why?'