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Young Entrepreneurs Learn Business Savvy at SUIS

June, 2014
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suis-young-entreprenuersAt Shanghai United International School, Hongqiao Campus, Grade 4 PYP students completed a challenging unit about business and economics that culminated in a bustling outdoor market on 24 April, which was more reminiscent of a weekend in the Yuyuan Bazaar than the school basketball courts, where the event was held.

This was the Young Entrepreneurs Fair 2014, a rigorous, relevant, and robust learning adventure. Students had their own stalls where they could hawk and peddle everything from hand-made jewellery to freshly squeezed juice. The atmosphere was thick with bargaining and the flow of money, which students handled with care and responsibility beyond their years.

Using the central idea that “supply and demand influences economic productivity in a community” the students’ financial literacy – in both English and Chinese – was put to the test. With a starting amount of 70 RMB loaned from the school, students were tasked with transforming raw materials into something profitable. Along the way they were exposed to basic knowledge about economics as well as given expert advice about money management from business-savvy parent volunteers and the SUIS teachers and leaders they interacted with during the proceedings.

Almost all items at the Young Entrepreneurs Fair sold out in just over 30 minutes, well before the event was meant to end – a lesson in supply and demand. Not only did students make more than enough money to pay back their loans, but they left with sound financial habits developed at an early age. Moreover, the bulk of the profits, more than 6000 RMB, will be donated to a needy charity, while the rest will be put towards a well-deserved class party. 

 

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