Uncategorized
Staff Reporter
In collaboration with the Department of Basic Education, the South African Reserve Bank (SARB) has once again tested learners’ competence in Mathematics and Economics.
Grade 12 learners participated in the 11th South African Reserve Bank Monetary Policy Committee (MPC) Challenge, and the top ten winners were announced at the Sandton Convention Centre in Johannesburg on 16 August.
The overall winners were Paarl Girls’ High School in the Western Cape Province, who took top honours. The four winners of the winning team each received a SARB bursary, a prize of R18,000 and an iPad, whilst their school received a prize of R36,000 and their teacher received a laptop. The challenge offered learners an opportunity to expand their understanding of monetary policy. It also provided them with an insight into how the economy works.
Basic Education Minister Angie Motshekga appreciated the opportunity given to the learners to apply classroom theoretical knowledge:
In its national scope, she said the Monetary Policy Committee Schools Challenge offers Grade 12 Economics learners a unique and transformative journey into the core of the South African Reserve Bank’s operations.
Participants emulate the real-world task of drafting SARB MPC statements and immerse themselves in a rich tapestry of resources, from traditional media to digital platforms, deepening their understanding of monetary policy.
“Beyond the accolades, the victors of this challenge emerge as esteemed ambassadors for the Reserve Bank, tasked with enlightening their communities about the nuances of our economy. The MPC Schools Challenge, whilst being more than just a competition, plays an indispensable role in basic education,” Motshekga said.
Motshekga added that, firstly, they transcend traditional classroom learning by providing a platform where theoretical knowledge meets practical application.
“Students gain hands-on experience and a deeper understanding of complex concepts by simulating real-world scenarios. This immersive learning approach enhances retention and develops a keen analytical mindset, allowing students to view problems from multiple angles and craft innovative solutions. Additionally, such competitions instil a spirit of teamwork, resilience, and perseverance.”
South African Reserve Bank Governor, Lesetja Kganyago, mentioned that the challenge participation has increased by 70% since 2022, with nine public schools and one independent school in the top ten winners. He further encouraged learners to consider pursuing careers in the field of economics.
Kganyago thanked the teachers for their dedication and support and for encouraging learners to participate in the challenge.
INSIDE EDUCATION
