Help a High School with a Trading Project

You must have went to a better high school, because 99% of the teachers teaching economics don't know the answer.

I just got out my book, hmm, I guess it's been awhile since I read the intro. Labor Economics really demonstrated it for me.

Anyway, I'd still recomend asking the teacher that question.

There's better experiments out there, though.
 
Quote from theboxer:

bwolinsky, <i>everybody</i> learns that economics is the "allocation of scarce resources" - it's the first sentence in every economics textbook ever written! The challenge is teaching kids what that <i>means</i>. Seeing how a futures pit works is definitely not pointless - I disagree with you there - in some ways a futures pit is a microcosm of the larger economy (note: I said in some ways)
More...

So when all they see is a quote screen, do you think they'd learn how to trade?
 
Some people are too smart for their own good.

This exposes some kids to something that many/most would never be exposed to on their own. Maybe later while in college they'll think - I liked that pit trading thing, let me see what classes in college can teach me more about this.

That's it.

It's showing kids something different, unique and fun.

Let's look at some other subjects these kids will be exposed to - dangling participles, dodge ball, writings of Aristotle, and the ever important how to walk really fast, but not run, to your next class.

A good part of high school classes provide very little real world type stuff and this little project does that, even if the kids don't fully get it right now. Even if pits may be a dying breed.

These kids now know that futures contracts exist, people trade them in pits and some people make a lot of money and some lose a lot of money. That puts them way ahead of the game.

But some very smart individuals have posted here to illustrate what this exercise is lacking and that the kids are better off back in gym class throwing rubber balls at each other.
 
Quote from brownsfan019:


But some very smart individuals have posted here to illustrate what this exercise is lacking and that the kids are better off back in gym class throwing rubber balls at each other. [/B]
More...

It's interesting to note that dodgeball has been banned in many states because of the risk of injury and the damage done to self esteem by being singled out.

So much for teaching competition.

Maybe i'll bring the dodge balls into the pit and then we would have a valid educational experience. Just kidding by the way.
 
Quote from brownsfan019:

Some people are too smart for their own good.





A good part of high school classes provide very little real world type stuff and this little project does that, even if the kids don't fully get it right now. Even if pits may be a dying breed.

These kids now know that futures contracts exist, people trade them in pits and some people make a lot of money and some lose a lot of money. That puts them way ahead of the game.
More...

This is the premise of the exercise and to be fair when the students do come back they always remember this experience. It is framed with in the context of an entire class and is only part of what they learn. The days leading up to the pit section deal with hedging, suplly / demand, and market mechanics in general. They even go on to look at the social justice impact of trading studying the work of an Ethiopian economist who is bent on starting an exchange in Addis Ababa with electronic access to regional farmers to receive better prices for their coffee and maize.
 
Quote from bwolinsky:

So when all they see is a quote screen, do you think they'd learn how to trade?
More...


No, but it's not about teaching kids to trade. A simulated futures pit is a display of supply/demand and other factors affecting prices in real life. I may have misunderstood what you were trying to say though.
 
Quote from bwolinsky:

You must have went to a better high school, because 99% of the teachers teaching economics don't know the answer.

I just got out my book, hmm, I guess it's been awhile since I read the intro. Labor Economics really demonstrated it for me.

Anyway, I'd still recomend asking the teacher that question.

There's better experiments out there, though.
More...


I'm sure there are experiments that would be just as good or better, but I think kids will learn something from it; and the point is to teach them something. Facts that are read tend to be quickly forgotten, but demonstrations make a greater impression. It's not a pointless exercise at all, in my opinion.

By the way (and seriously just out of curiosity, I'm not trying to be antagonistic even though that's the normal tradition here), do you have an example of other experiments, which you think might be better?

Thanks...
 
Damn. I just came across this thread and wish I would have been able to help out.

If not because I have a daughter in high school, and I would love for her to be exposed to this, then to simply spite the seemingly endless string of jackasses on this board who know of nothing in life but to see the negative side of things.

Please count me in for next time.

I hope things went well this time around.

Jeff
 
Quote from theboxer:

I'm sure there are experiments that would be just as good or better, but I think kids will learn something from it; and the point is to teach them something. Facts that are read tend to be quickly forgotten, but demonstrations make a greater impression. It's not a pointless exercise at all, in my opinion.

By the way (and seriously just out of curiosity, I'm not trying to be antagonistic even though that's the normal tradition here), do you have an example of other experiments, which you think might be better?

Thanks...
More...

I'd like to know as well. We are always looking for opportunities to provide our students with great learning experiences.
 
You must log in or register to reply here.
Back
Top