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NAEP tests show that general economics students who participated in a stock market simulation score significantly higher on economics tests. |
In their initial testing of economic theory among high school seniors, the National Assessment of Educational Progress (NAEP) reports that general economics students who indicated that they had participated in a stock market simulation scored almost 10% higher than students who had participated in a stock market simulation scored almost 10% higher than students who had not. A stock market simulation was the only economics-related activity (in class or as extracurricular)* that showed a statistically significant impact on student knowledge.
These results support earlier findings by the Jump$tart Coalition of the effectiveness of a stock market program in teaching economic and financial literacy.
* Activities listed: FBLA, DECA, Junior Achievement, economics-related clubs, academic competitions, a stock market game or simulation, a student managed store and a student managed credit union or bank
Other significant factors for student achievement:
writing long answers to questions or assignments
using the Internet at least once a week to gather economic data
inclusion of a required economics test or economics questions on a broader test
gathering information on personal finance, local, US and international economy
Applications to The Stock Market Game:
Incorporate the Stock Market Game in the curriculum for grades 4 – 12
Include participation in InvestWrite*, a national essay competition for students participating in the Stock Market Game (supports findings of effectiveness of writing long answers to questions)
Require students to access economic and financial information using the Internet at least once a week (an integral part of SMG, students need to research companies in their portfolio)
Utilize teacher resource materials provided through the SMG Teacher Support Center* to expand economics based projects and assessments (provides a variety of economic tests and assessments for easy use by teachers)
*The Stock Market Game is the only Wall Street simulation that offers these resources.
EconomicsPennsylvania provides free staff development and on-going technical provides free staff development and on-going technical support for teachers.
