Grade 12 learners recently had a taste of what it’s like to be the Governor of the South African Reserve Bank (SARB) through the Monetary Policy Committee (MPC) Schools Challenge. Economics and Mathematics learners, who aspire to become future economists, compete in the annual MPC Schools Challenge. SARB Governor, Mr Lesetja Kganyago, announced the winners of the MPC Schools’ Challenge for 2021, in partnership with the DBE, during a virtual event on 31 August 2021.
Basic Education Minister, Mrs Angie Motshekga, congratulated all participating schools and learners saying, “Jointly with the Reserve Bank, we believe the MPC Schools Challenge can raise the understanding of monetary policy and contribute directly and indirectly to broad public economic education. The students who participate in the MPC Schools Challenge will have a better understanding of the role of the Reserve Bank. They can also become the bank’s ambassadors, explaining the role of the bank and monetary policy to their communities, thereby assisting in anchoring inflation expectations. It is also good for our learners as it broadens their career options while planting a seed of the importance of Economics and Mathematics in everyday life of our fledgling democracy”.
The programme provides learners with an opportunity to make important decisions, based on data they receive for analysis to prepare a monetary policy statement and to put economic theory into practice. The MPC Schools Challenge was piloted in 2012 by the SARB, in partnership with the Gauteng Department of Education, to improve financial and economic literacy amongst the youth. Since then, the challenge has been expanded to other provinces.
The winner of the MPC Schools Challenge is Glenvista High School in Johannesburg. The first prize consisted of a R15,000 cash amount per learner (in the team) and R30,000 for the school, as well as an iPad for each learner and the educator. In second place was Hoërskool Linden, also in Johannesburg, receiving a R10,000 cash prize per learner (in the team) and R20,000 for the school. Third place winner was King’s School, from White River in the Mpumalanga Province.