A team of four Grade 12 Economics and Accounting learners at Western Cape’s Paarl Girls’ High was dubbed the winners of the South African Reserve Bank’s (SARB) 2023 Monetary Policy Committee (MPC) Schools Challenge yesterday at the Sandton Convention Centre in Johannesburg.
In partnership with the Department of Basic Education (DBE), the MPC Schools Challenge aims to promote interest and deepen learners’ understanding of the economy and the role of monetary policy in improving the economic well-being of all South Africans.
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The challenge has successfully been running since 2012 and has grown to include 400 schools and 1 800 learners from both public and private institutions across all nine provinces.
Out of the top ten schools announced, only one was a private school, while the other nine were all public schools, SARB’s Governor Lesetja Kganyago told Moneyweb.
This year, groups of four learners from 181 schools submitted essays on monetary policy that qualified them for an assessment and entry into the challenge.
Shortlisted teams are given the opportunity to put theory into practise in round two by constituting their own MPC committee modelled on the SARB’s monetary policy decision-making body to discuss their reasons for interest rate decisions.
Students are provided with the resources and economic data needed to compile their respective MPC ‘statements’ announcing their interest rate decision.
A thorough adjudication process in which the teams present their decision and supporting arguments to a panel in a form that mirrors the action of the MPC press conference determines the winning team.
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Commenting on his thoughts on the teams’ presented statements, Kganyago said ‘the way in which they reason their decisions is a top plus. You can see that the future of economic discourse is actually bright if these kids follow the economics field’.
Under the support and guidance of Mrs Elmari Basson, Eloïse Opperman, Anopaishe Gowero, Lara Rabe and Meghan Damonse from Paarl Girls’ High School in the Western Cape took top honours.
The four learners of the winning team each received a SARB bursary, a cash prize of R18 000 and an iPad, while their school also received a cash prize of R36 000 and their educator received a laptop.
Mpumalanga’s The King’s School White River followed in second place and Gauteng’s Krugersdorp High School in third place.
Here are the ten MPC Schools Challenge finalists
- Paarl Girls’ High School – Western Cape
- The King’s School White River – Mpumalanga
- Krugersdorp High School – Gauteng
- Hoërskool Garsfontein – Gauteng
- Abbots College Rondebosch – Western Cape
- Qedela Secondary School – Mpumalanga
- Protea Heights Academy – Western Cape
- Glenvista High School – Gauteng
- Elsies River High School – Western Cape
- Portland High School – Western Cape
The finalists of the remaining nine schools also won cash prizes along with cash contributions to their respective schools and laptops for their educators.
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Picture: @SAReserveBank / Twitter