The Indiana University East Center for Economic Education welcomes students to participate in the stock market simulation contest beginning Monday, September 30. The Center for Economic Education is a part of the IU East School of Business and Economics.
The stock market simulation is open to university students and high school students within the IU East region. The stock market simulation offers participants the opportunity to learn how the buying and selling of stocks affects their personal financial wellness.
Participants of the stock market simulation will be given $100,000 in virtual funds to buy and sell virtual stocks. Individuals or teams participating will be required to make three stock, bond or mutual fund purchases as well as to pay fees from the virtual funds provided.
High school students will participate and rankings will be shared with other high school students across the state of Indiana. IU East students will be ranked in comparison with portfolio values of students of Purdue University in West Lafayette.
“The main purpose of the stock market simulation contest is to provide financial literacy education. We plan to learn through pre- and post-assessment and reflection if students are learning financial literacy as a part of this simulation or if a basic knowledge of the stock market is needed,” Scales said.
Scales added the stock market simulation will provide students with the opportunity to research where to invest and how to manage funds.
Dean of the School of Business and Economics David Frantz said, “These types of simulations are usually effective ways to excite and engage students. It gives them some knowledge about what happens in the real world of finance.”
The stock market simulation will also provide an internship for an IU East student, Sam Wilson, a senior finance major. Wilson will serve as the stock market simulation coordinator.
Wilson said he is excited to be a part of the stock market simulation and he thinks that it will be a great learning tool for all the students who are participating.
“Earlier exposure to the stock market and the way it operates, I believe will strengthen their understanding of and comfort level with the stock market and financial literacy in the future,” Wilson said. “I have participated in stock simulations as a student and I am honored to now have this opportunity to help other students learn as I have through stock simulations and to also help guide them through the process.”
About the IU East Center for Economic Education
The IU East Center for Economic Education, in cooperation with the Indiana Council on Economic Education and the National Council on Economic Education, is dedicated to improving economic literacy. The center assists in setting standards; creates in-service training programs for K-12; prepares, disseminates, and evaluates course materials, teaching units, and curriculum guides for teaching economics; and much more.