|Scooped by Lauren Wigan|
I came across this description of the “Microcredit Fun Day” and immediately understood it to be something that is so beneficial for students, teachers and the wider school community in so many ways. The children featured in this Fun Day were encouraged to use the knowledge and understanding of money, consuming and producing. They actually physically engaged with this knowledge to enhance their understanding of it. As it states in the beginning of the article; “Each class decided on a product or service. They learnt about their product or service, undertook surveys to gauge the market and wrote a business plan. They applied for a loan from the School Council.” What we see here is a direct engagement and practice of producing responsibly as well as engaging with the “consumers” they targeted. Even though this activity involved children in Year 2 (Stage 1) this is still something that can be taken and implemented across any year or stage as it is a universal activity, it plays upon universal skills, ideas and concepts. We can use this global education case study and implement the same activity within schools that we may teach in. It allows for children to obviously exercise their mathematical knowledge, there is not doubt there. However it also works to promote social skills in that, children work to plan and set up their mini-business where they exchange ideas and work collaboratively to come to satisfying agreements. Problem solving is an area that must be practised and developed in children and this activity will surely require them to solve the problems that may arise in their businesses, for example; getting the right about of products to sell, what to do if the products arent popular; how to advertise better and attract customers. The PHDPE syllabus is clearly engaged in here in that, they are engaging in team work and relationship building/improving tasks. They also must be made aware of the fact that this is done all over the world, to ensure that they understand money as a universal and global phenomenon. The assessment here is the market itself, but a reflection activity to accompany it would do no end of good for the literacy and social skills aspect of this project. Children could produce diary entries for this task, explaining and reflecting on the positive and negative experiences, stating what could be done better. They could also, as a group, work out the total made from their “business” and answer a set of questions about its financial projections, for example, “If this store made the same amount every day for 5 weeks, how much would have been made altogether?” Or even questions like, “The cost of flour and milk (if the business is a cake stall) has risen by $2 per kilogram. How many kilograms did you use to make the cakes in your store? How much did it cost before and then after the rise in cost?”.