Pupils from 27 Edinburgh schools took part in this year’s Stock Market Challenge, and finished with investments of over £500,000 in virtual shares and currency.
The competition, designed as world-of-work initiative, was sponsored by Standard Life and delivered by Skills Development Scotland.
The challenge took place on November 18 at the University of Edinburgh and focused on teaching pupils how financial markets operate, while also promoting the values of communication and team working skills.
Working in small teams, the S3 pupils were challenged to use their skills to manage a portfolio of shares and foreign currencies. The participating teams made their investment decisions by interpreting and analysing information from the financial markets and simulated live trading was held over a two-hour period. The team with the highest portfolio at the closing bell was named the winner.
Edinburgh’s Drummond High School stormed the trading floor and came out on top finishing with an exceptionally well-managed fund of £132, 600. The runners up George Heriot’s School, also based in the capital were not far behind and made an impressive profit of £112, 300.
Teacher, Ms. Brenda Kerr said: “They practiced, had a strategy and I’m so proud they have come out on top.”
This year, the sponsors, Standard Life group, made this experience even more accessible by involving members of their staff who participate as “traders” at this exciting event, and also giving the participating schools a free year-long licence for the Stock Market Challenge online resource.
Tina Livingston, Education Investment Manager at Standard Life said: “What an amazing day! All of the competing schools have performed brilliantly. I’m sure that the skills and experiences they have gained from today will benefit them hugely throughout the rest of their time at school, and stand them in good stead into either a working environment or university or college.
Damien Yeates, chief executive of Skills Development Scotland, said: “The Stock Market Challenge looks set to be another great success and the hard work and determination displayed by the pupils who are taking part is terrific.
“The competition is a fantastic way to help educate pupils about the financial markets in an enjoyable setting.
“However, it also provides them with the opportunity to work as a team and improve and develop their communication and decision making abilities.
“These are important skills which are vital to help them get ahead when they leave school, whether they decide to go into employment or further education. “