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THE South African Reserve Bank, in partnership with the Department of Basic Education, has announced the finalists and winners of the 2022 Monetary Policy Committee (MPC) Schools Challenge.
Marais Viljoen High School in Alberton, Gauteng, was announced as the overall winner.
Each participating learner from the school walked away with R16,000 as well as an iPad for each learner and the educator.
The Horizon High School from Turffontein, Gauteng, took the second spot.
They were followed by Paarl Girls’ High School from the Western Cape.
The SA Reserve Bank and the DBE introduced the MPC Schools Challenge to expose learners to the processes of the MPC in determining the repo rate.
The project offers an exciting opportunity for Grade 12 Economics learners and their teachers to become “members” of the monetary policy Committee for a few weeks.
“We are pleased that 225 schools attended the briefing sessions for learners and teachers, and 102 schools submitted essays that are required to proceed to the next level of the competition. These essays are prepared in the same format as the SARB MPC statement. The statement must reflect global and domestic economic conditions and factors, and reflect the decision of the learners on its Monetary Policy stance,” said SARB Governor Lesetja Kganyago.
He said the quality of their essays and presentations were evidence that the objective of expanding the understanding of monetary policy is being achieved.
“To our learners, remember that nothing of value comes without an effort. Your presence here as finalists bears testimony to your commitment, hard work and dedication. We encourage you to pursue careers in the field of economics and central banking,” he said.
Basic Education Minister Angie Motshekga said the Monetary Policy Committee Schools Challenge demystified the role and functions of the Reserve Bank.
“In other words, the winning team inadvertently become the bank’s ambassadors, explaining the role of the bank and monetary policy to their communities,” she said.
“Thus (they are) assisting in public education about inflation, financial markets and banking, among others. 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 country.”
The competition was initially piloted with 70 Gauteng schools in 2012 and has grown to a national competition which includes well over 400 schools and has impacted more than 1,800 students across all nine provinces.
The MPC Schools Challenge was launched in 2012 with 70 schools in Gauteng participating.
To date, it has reached over 3, 200 learners in over 400 schools.
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