Member Article

Local students rise to financial skills challenge

Kassim Darwish Grammar School for Boys (KD Grammar) in Chorlton took top honours at this year’s Stock Market Challenge for schools held at Manchester Business School. The competition is a joint initiative funded by HSBC and supported by Manchester Business School in partnership with 10 Lane Learning.

Schools from across the North West took part in the challenge, which saw 125 Year 10 pupils swapping classes for currencies as they traded in a simulated stock market. The challenge provided students with a chance to increase their business and economic understanding, put mathematics to the test and develop key skills such as team working, problem solving, critical thinking, analysing information and communication in a time-pressured and competitive game environment.

Teams navigated their way through fast-moving, constantly changing market conditions with the aim to maximise their investment opportunities based on quick and accurate analysis by all members of each investment team working together.

Shoaib Muhammed, a member of KD Grammar school’s winning investment team said: “We really enjoyed taking part as everything was so realistic and it gave us a chance to put what we’ve learnt into action. You could see how prices were affected by the news and also the decisions we made. The trading environment was fast-paced and challenged you to work as a team. It was intense, but exciting.”

Over the past few months, teams from the participating schools had been preparing for their day on the stock market using an online trading environment provided free of charge by HSBC. On the day of the challenge, staff from the bank also took part as ‘traders’ to recreate a real-time trading floor.

The student teams were tasked with managing a fund of shares and foreign currencies, with the team with the highest value fund scooping first place and a top prize – a trophy for the school and gift vouchers and Manchester Business School branded outerwear for the students.

Colin Hurst, retail branch manager at HSBC, said: “These challenges are a fantastic way for young people from schools and colleges to build their understanding of the business world, while developing their skills and having fun. The initiative gives pupils the opportunity to apply their learning at school to a highly realistic financial setting along with bringing their own fresh perspective.”

The students were also challenged to think about the role ethical investing has in financial markets.

Two students from Albion Academy in Salford and Audenshaw School in Audenshaw also received accolades for best ethical investment report and the best media analysis report.

Professor Fiona Devine, Head of Manchester Business School, said: “I’m delighted so many schools took part in the event this year and that the standard of entry was extremely high. Manchester Business School is committed to engaging schools across the North West in innovative projects such as this. Together, we can ensure pupils gain insight into the commercial realities of business as well as providing them with practical skills.”

The Stock Market Challenge offers a unique engagement opportunity between schools and local companies like HSBC and aims to build students confidence and capability. The initiative also supports the local financial services and IT sector in its need to create a world-class competitive workforce.

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This was posted in Bdaily's Members' News section by lianne tracey .