Gauteng schools dominated the South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) Schools Challenge once again.
The MPC Schools Challenge is one of the SARB’s outlets for educating students about how the MPC determines the repurchase (repo) rate. Learners have the opportunity to put classroom Economics into practice, so enhancing their grasp of how the economy functions and the role of monetary policy in ensuring the economic well-being of all South Africans.
Alberton’s Marais Viljoen High School came in first place, followed by Turffontein’s Horizon High School in second place. After them came Paarl Girls’ High School from Western Cape.
In collaboration with the Department of Basic Education, the SARB school competition is held (DBE).
Wednesday, the SARB announced that the Marais Viljoen High School would receive R35,000 for its accomplishment. Each participant from the school received R16 000 in addition to an iPad for themselves and their educator.
“The runner-up, Horizon High School, which placed sixth the previous year, got R25,000 for the school and R11,000 for each participant. The Paarl Girls’ High School, which placed fifth last year, won R18,000 for the school and R9,000 for each participant, according to a statement from the SARB.
The Challenge also tries to encourage interest in economics for post-high school courses, and this year it was also extended to private institutions.
The SARB stated that students must take Economics and Pure Mathematics as subjects. Each participating school forms an MPC team modeled after the MPC of the SARB. Students are provided with the materials and economic data necessary to compose their own MPC “statement” announcing their interest rate decision. A lengthy procedure of adjudication chooses the winning team.
In 2012, the tournament was trialled with 70 schools in Gauteng. Since then, it has expanded to a national competition involving more than 400 schools and has impacted more than 1,800 kids in all nine provinces.
The fourth-placed school, Horskool Garsfontein from Gauteng, won R14,000 for the school and R8,000 for each participant.
Horskool Waterkloof, also from Gauteng, placed fifth, receiving R11,000 for the school and R6,000 for each participant. The sixth-placed Midrand High Institution was awarded R8,500 for the school and R5,000 for each participant.
In eighth place, the Qedela Secondary School in Mpumalanga won R5,000 for the school and R2,000 for each participant. In seventh place, the Norman Henshilwood High School in the Western Cape received R7,000 for the school and R3,500 for each participant. – SAnews.gov.za