Helping School Administrators Understand The Stock Market Game
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These slides were presented at the 2014 Council for Economic Education National Conference as a part of a session on speaking convincingly to school administrators and superintendents about the positive impact of the SIFMA Foundation's Stock Market Game program.
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Helping School Administrators Understand The Stock Market Game
- 1. Helping School Administrators Understand the Impact of The Stock Market Game Program Vincent Young, AVP Curriculum Initiatives SIFMA Foundation Lisa A. Donnini, Ph.D. Financial Education Consultant SIFMA Foundation
- 3. Teams of 3 to 5 Virtual $100,000 Stocks, Bonds, & Mutual Funds + The Stock Market Gameâ˘
- 7. American Institutes for Research Study (2009) ⢠The Stock Market Game has a positive impact on â Student math achievement â Student financial literacy â Teacher investment behavior ⢠90% of Elementary students like playing The Stock Market Game. ⢠78% of Middle and High School students like playing The Stock Market Game. http://www.learningpt.org/smg/SMG_Study.pdf
- 8. Math Impact
- 10. âOf the list, the only activity that shows a positive and significant relationship with test scores was participation in a stock market game...â (Walstad & Buckles, 2008)
- 11. Since the data were first collected in 2000, it has been consistently clear that a full semesterâs course in money management does not improve financial literacy while playing a stock market game boosts financial literacy significantly. (Mandell, 2008)
- 12. A Well Rounded Education Mobile Learning Gamification
- 13. 21st Century SMG Skills Work in teams of 2 to 5 Take on leadership roles Create and Manage a $100,000 investment portfolio Suggest investments Evaluate portfolio performance Enter trades Look up stock quotes Read stock charts Read market news ELA Math Economics Financial Literacy
- 14. 21st Century Learning "A big choice for us is: we have this very flexible tool, much more like a Swiss army knife than a hammer. What do we want to use it for?" says Christopher Dede, Timothy E. Wirth Professor in Learning Technologies at Harvard University's Graduate School of Education. Source: http://www.ascd.org/publications/newsletters/education-update/feb11/vol53/num02/Can-Mobile-Devices-Transform-Education%C2%A2
- 15. The SMG App
- 16. For Example
- 22. CCR Reading Anchors ⢠Key Ideas and Details 1. Read closely to determine what the text says explicitly and to make logical inferences from it; cite specific textual evidence when writing or speaking to support conclusions drawn from the text. 2. Determine central ideas or themes of a text and analyze their development; summarize the key supporting details and ideas. 3. Analyze how and why individuals, events, and ideas develop and interact over the course of a text. ⢠Craft and Structure 4. Interpret words and phrases as they are used in a text, including determining technical, connotative, and figurative meanings, and analyze how specific word choices shape meaning or tone. 5. Analyze the structure of texts, including how specific sentences, paragraphs, and larger portions of the text (e.g., a section, chapter, scene, or stanza) relate to each other and the whole. 6. Assess how point of view or purpose shapes the content and style of a text. ⢠Integration of Knowledge and Ideas 7. Integrate and evaluate content presented in diverse media and formats, including visually and quantitatively, as well as in words. 8. Delineate and evaluate the argument and specific claims in a text, including the validity of the reasoning as well as the relevance and sufficiency of the evidence. 9. Analyze how two or more texts address similar themes or topics in order to build knowledge or to compare the approaches the authors take. ⢠Range of Reading and Level of Text Complexity 10. Read and comprehend complex literary and informational texts independently and proficiently.
- 23. CCR Writing Anchors ⢠Text Types and Purposes 1. Write arguments to support claims in an analysis of substantive topics or texts, using valid reasoning and relevant and sufficient evidence. 2. Write informative/explanatory texts to examine and convey complex ideas and information clearly and accurately through the effective selection, organization, and analysis of content. 3. Write narratives to develop real or imagined experiences or events using effective technique, well-chosen details, and well- structured event sequences. ⢠Production and Distribution of Writing 4. Produce clear and coherent writing in which the development, organization, and style are appropriate to task, purpose, and audience. 5. Develop and strengthen writing as needed by planning, revising, editing, rewriting, or trying a new approach. 6. Use technology, including the Internet, to produce and publish writing and to interact and collaborate with others. ⢠Research to Build and Present Knowledge 7. Conduct short as well as more sustained research projects based on focused questions, demonstrating understanding of the subject under investigation. 8. Gather relevant information from multiple print and digital sources, assess the credibility and accuracy of each source, and integrate the information while avoiding plagiarism. 9. Draw evidence from literary or informational texts to support analysis, reflection, and research. ⢠Range of Writing 10. Write routinely over extended time frames (time for research, reflection, and revision) and shorter time frames (a single sitting or a day or two) for a range of tasks, purposes, and audiences. 11. Note on range and content in student writing
- 24. CCR Speaking & Listening Anchors ⢠Comprehension and Collaboration 1. Prepare for and participate effectively in a range of conversations and collaborations with diverse partners, building on othersâ ideas and expressing their own clearly and persuasively. 2. Integrate and evaluate information presented in diverse media and formats, including visually, quantitatively, and orally. 3. Evaluate a speakerâs point of view, reasoning, and use of evidence and rhetoric. ⢠Presentation of Knowledge and Ideas 4. Present information, findings, and supporting evidence such that listeners can follow the line of reasoning and the organization, development, and style are appropriate to task, purpose, and audience. 5. Make strategic use of digital media and visual displays of data to express information and enhance understanding of presentations. 6. Adapt speech to a variety of contexts and communicative tasks, demonstrating command of formal English when indicated or appropriate.
- 25. Standards of Practice ⢠Make sense of problems and persevere in solving them ⢠Reason abstractly and quantitatively ⢠Construct viable arguments and critique the reasoning of others ⢠Model with Math ⢠Use appropriate tools strategically ⢠Attend to precision ⢠Look for and make use of structure ⢠Look for and express regularity in repeated reasoning
- 26. NextGen ⢠Scientific Investigations Use a Variety of Methods â Students use various sources and research methods to build their portfolio. ⢠Scientific Knowledge is Open to Revision in Light of New Evidence â Students rebalance their portfolios based on economic, business, and market news. ⢠Scientific Knowledge Assumes an Order and Consistency in Natural Systems â Students consider trends and cycles in selecting. ⢠Scientific Knowledge is Based on Empirical Evidence â information that is acquired by observation or experimentation.
- 28. Upcoming Webinars ⢠4PM ET, Tuesday, October 21 The PNC Christmas Price Index â SIFMA Foundation SMG Challenge https://www1.gotomeeting.com/register/295502152 ⢠5PM ET, Thursday, October 23 SMG Stock Research Worksheet 201 https://www1.gotomeeting.com/register/856991888 ⢠5PM, Thursday, November 6 SMG and the Danielson Framework https://www1.gotomeeting.com/register/965520905
- 29. SMG Curriculum Directorâs Channel ⢠Introduction Videos â SMG 2.0 â InvestWrite ⢠Curriculum Training Videos â Stock Research Worksheet â Super Bowl Project ⢠Professional Development Videos â Itâs Your Company Too â Buy or Bail
- 30. Thank You & Stay in Touch https://www.facebook.com/sifmaFoundation https://twitter.com/SIFMAFoundation https://plus.google.com/110729834042312553884/posts
Hinweis der Redaktion
- It is sometimes easy to forget the broader purpose of school. I believe in David Labaree's vision of schools: to prepare children for their place in the economy to achieve democratic equality to nurture social mobility David is a professor of education at Stanford University who writes about the history and sociology of American education. Eduwonkette summarized his position well in her post at Sharp Brains: http://sharpbrains.com/blog/2008/03/14/schools-what-should-they-do-and-for-whom/ Abbott and Costello illustrate the importance of financial literacy in this clip from One Night in the Tropics.
- The SIFMA Foundation's acclaimed Stock Market Game⢠program is an online simulation of the global capital markets that engages students grades 4-12 in the world of economics, investing and personal finance, and prepares them for financially independent futures. More than 600,000 students take part every school year across all 50 states. The Stock Market Game has reached 15 million students since its inception in 1977.
- InvestWrite is a highly successful extension of the Stock Market Game program designed to help students sharpen critical thinking skills as they compose essays on investment related topics. The program builds a bridge between classroom learning and potential real-world investments decisions. Students are provided a topic and an investment scenario, which requires them to assess, research, and then formulate possible solutions based on their own findings, logic and ideas.
- The Capitol Hill Challenge (CHC) is a special edition of The Stock Market Game⢠(SMG) program offered every spring. CHC matches Members of Congress with students, teachers, and schools benefiting from SMG in their respective district or state. Student teams manage a hypothetical $100,000 online portfolio and invest in real stocks, bonds, and mutual funds. The classroom learning focuses on the dynamics of the global marketplace and the importance of long-term saving and investing. The CHC acknowledges the accomplishments of the top 10 student teams and their teachers with a trip to Washington D.C. to meet their Members of Congress and tour financial landmarks and national monuments.  Since its inception in 2004, CHC has made over 1,700 matches of U.S. Representatives and Senators with schools, encompassing more than 45,000 students across the country.
- Invest It Forward⢠(IIFâ˘) is an industry-wide financial education and capital markets literacy campaign convening hundreds of financial firms that are committed to giving young Americans a solid understanding of the capital markets system and the invaluable tools to achieve their dreams. Complementing the SIFMA Foundationâs critically acclaimed national Stock Market Game⢠program, volunteers from industry firms will personally offer exciting, multimedia in-school and afterschool lessons to help our nationâs youth better prepare for their own futures as financially capable and engaged citizens.
- (p11) Most students reported that they enjoyed playing, and learned from, The Stock Market Game. Most students indicated that they enjoyed, and learned about, the aspects of finance addressed by the game, such as choosing which company to invest in and trading stocks on the computer. Nearly 90 percent of younger students (grades 4-6), and 78 percent of older students (grades 7-10), reported that they liked playing The Stock Market Game.
- (LPA ONE PAGER) Learning Point Associate year-long study found that elementary school students in Grades 4â6 who played The Stock Market Game scored on average above the 55th percentile on the mathematics tests, while students who did not play the game scored on average above the 43rd percentile. Students in Grades 7â10 who played the game scored on average above the 54th percentile, while students who did not play the game scored on average above the 46th percentile.
- (LPA ONE PAGER) Students who played The Stock Market Game also significantly outperformed their peers in their knowledge of financial concepts. In tests to measure investor knowledge, elementary school students who played the game scored on average above the 68th percentile, compared to an average score above the 42nd percentile for students who did not play the game. Students playing the game in both middle and high school scored on average above the 58th percentile, while their peers scored above the 42nd and 40th percentiles respectively.
- The 2012 NAEP Economics test results demonstrated improvements from the first NAEP Economics in 2006. In âThe National Assessment of Educational Progress in Economics: Findings for General Economicsâ by William B. Walstad and Stephen Buckles from the American Economic Review published by the American Economic Association (May 2008), the authors cite numerous in-class and afterschool that students participate in. They point out the particular benefits of stock market games like SMG. https://www.aeaweb.org/articles.php?doi=10.1257/aer.98.2.541
- The 2008 national Jump$tart survey of high school seniors was the sixth such biennial survey and completed the first ten years of measuring financial literacy in the United States. In 2008, the Jump$tart Coalition also conducted its first national survey designed to measure the financial literacy of college students. Since the data were first collected in 2000, it has been consistently clear that a full semesterâs course in money management does not improve financial literacy while playing a stock market game boosts financial literacy significantly.
- Partnership for 21st Century Skills â Not really a trend but something that other trends point to or refer to when speaking about their programs. Mobile â from punch cards to the internet in the palm of your hand, teachers are asking do we or donât we in terms of allowing smart phones and tablets in their classrooms. Gamification â itâs a term youâll hear again and again and will come a term that risks being mucky and convoluted because everyone is using it. (from Wikipedia) âGamification is the use of game thinking and game mechanics in non-game contexts to engage users in solving problems. Gamification techniques strive to leverage people's natural desires for competition, achievement, status, self-expression, altruism, and closure.â Itâs like mom telling your sister and you âletâs have a competition to see who can do their chores the fastest. In econ you call it incentivizing. Common Core â Whatâs left to save? We are correlated to the national ELA and math (up to grade 7). People are complaining, they are unfamiliar with the teaching. It over complicates blah blah blah. Itâs like a math teacher telling me heâs been teaching math for 30 years this blah blah Next Gen Science Standards/ STEM â In 2007 the National Science Board released a report about how US students are lacking in science careers since then thereâs been a huge push to engage students in science. We donât teach science but we do teach habits of inquiry Danielson Framework
- The actions involved in playing the Stock Market Game engage many 21st Century Skills. Life and Career Skills: Todayâs life and work environments require far more than thinking skills and content knowledge. The ability to navigate the complex life and work environments in the globally competitive information age requires students to pay rigorous attention to developing adequate life and career skills. Learning and Innovation Skills: Learning and innovation skills increasingly are being recognized as the skills that separate students who are prepared for increasingly complex life and work environments in the 21st century, and those who are not. A focus on creativity, critical thinking, communication and collaboration is essential to prepare students for the future. Information, Media and Technology Skills: People in the 21st century live in a technology and media-suffused environment, marked by various characteristics, including: 1) access to an abundance of information, 2) rapid changes in technology tools, and 3) the ability to collaborate and make individual contributions on an unprecedented scale. To be effective in the 21st century, citizens and workers must be able to exhibit a range of functional and critical thinking skills related to information, media and technology. Core Subjects: Mastery of core subjects and 21st century themes is essential for students in the 21st century. Core subjects include: ELA, Math, Economics, History, Government and Civics. In addition to these subjects, we believe schools must move beyond a focus on basic competency in core subjects to promoting understanding of academic content at much higher levels by weaving 21st century interdisciplinary themes into core subjects: Global awareness, Financial, economic, business and entrepreneurial literacy, and Civic literacy   Â
- Christopher Dede is referring to mobile devices like smartphones and tablets. The articleâs author, Rick Allen, goes on to say, âCompared to laptops and computer workstations, mobile devices are cheaper, more portable, and physically less obtrusive, especially during collaborative work.â Dede goes on to say, âKids like working together with their cell phones in front of them more than their laptops. If you sit around a table and they all have their laptops, there's a sense of a wall.â
- The Stock Market Game is best played in teams because it helps students practice 21st Century Skills in Communication and Collaboration. The SMG mobile app removes the âwallâ that Dede speaks about and provides student with opportunities to collaborate outside of the classroom. The ease and convenience of access could potentially create a âfinancial literacyâ habit as students pursue research outside of the classroom, outside of their team, and after The Stock Market Game. The SMG App provides access to Account Summary, Enter a Trade, Transaction Notes, Pending Orders, and Market News. The mobile app does not replace the SMG team portfolio website. However, it enhances the SMG learning experience as a whole by providing additional convenient access to the portfolio and research.
- One night a student hears a story about Pepsi developing a new bottled water called âOmâ on the evening news. It sounded interesting. [CLICK] She quickly checks her teamâs Transaction Notes to confirm her team has attempted to purchase 600 shares of Pepsi.
- The next day, before class she meets with her SMG team. They talk about what she saw. One teammate confirms the trade they entered went through, another checks the market news, another index performance, and another prepares to enter a trade for more shares or sell some shares based on what the team decides. This is an example of what the mobile app could potentially produce in terms of student engagement, out-of-class time, and seeding a âlearning habitâ (learning outside of a structured school environment). From the 2011 ASCDâs newsletter, Education Update: âAt the cutting edge of mobile education technology research, Kâ12 students are using mobile devices to access digital information that overlays or infuses the real world around them; hence the term "augmented reality" (AR) to describe this model.â Source: http://www.ascd.org/publications/newsletters/education-update/feb11/vol53/num02/Can-Mobile-Devices-Transform-Education%C2%A2.aspx Describe how SMG is a simulation and the social issue (the lack of saving and investing) that it tries to solve.
- The Oregon Trail is widely acknowledged as the first real fusion of education and video games.
- http://www.theatlantic.com/technology/archive/2014/04/beyond-screen-time-what-a-good-game-like-minecraft-teaches-kids/361261/ Minecraft is an âopen worldâ so players establish rules and regulations. In Minecraft players also build complex physical structures in addition to social structures and through a teacher with a guided lesson learn potentially sophisticated processes. Economic and financial learning simulations like The Stock Market Game do the same. http://playmakers.instituteofplay.org/minecraftedu/ A veteran computer teacher, Joel Levinâs first instinct was to get his students back on task. But then he thought, âThis is great. This is good. This should be happening.â So instead he opened a discussion with the whole class. The students began to compare physical and digital worlds, online and offline communities, and the behaviors suitable to each. Fifteen minutes later, they arrived at a pretty sophisticated understanding of what it means to be a good digital citizen, something Levin and others at the school had been trying and failing to get across for some time. âThat was my a-ha moment.â
- http://www.instituteofplay.org/about/ The Institute of Play - The real work of a 21st century education is to spark the passion for lifelong learning that our kids will need to navigate their way to a promising tomorrow. The Institute of Play creates learning experiences rooted in the principles of game designâexperiences that simulate real world problems, and require dynamic, well-rounded solutions. We support teachers and other learning leaders in making learning irresistibleâcreating for students a powerful need to know, and a hunger to learn more. We believe in making learning relevantâto the technologies that shape our kidsâ lives, the passions that fuel their ambitions, and the demands of life in the 21st century.
- https://www.youtube.com/watch?v=Ect-kgxBb4M Do you remember Susan singing âOne of these thingsâ? Itâs an example of an educational game. Not all educational games require an app or an Internet connection. One of these things is not like the others, One of these things just doesn't belong, Can you tell which thing is not like the others By the time I finish my song? Did you guess which thing was not like the others? Did you guess which thing just doesn't belong? If you guessed this one is not like the others, Then you're absolutely...right!
- Highlight how SMG is most effective meeting standards 1, 2, 4, 6, 7, 8, 9, 10.
- SMG achieves Standards 1, 2, 6, 7, 8, 9, 10 To build a foundation for college and career readiness, students need to learn to use writing as a way of offering and supporting opinions, demonstrating understanding of the subjects they are studying, and conveying real and imagined experiences and events. They learn to appreciate that a key purpose of writing is to communicate clearly to an external, sometimes unfamiliar audience, and they begin to adapt the form and content of their writing to accomplish a particular task and purpose. They develop the capacity to build knowledge on a subject through research projects and to respond analytically to literary and informational sources. To meet these goals, students must devote significant time and effort to writing, producing numerous pieces over short and extended time frames throughout the year.
- SMG achieves standards 1, 2, 3, 4, 5, 6 Note on range and content of student speaking and listening To build a foundation for college and career readiness, students must have ample opportunities to take part in a variety of rich, structured conversationsâas part of a whole class, in small groups, and with a partner. Being productive members of these conversations requires that students contribute accurate, relevant information; respond to and develop what others have said; make comparisons and contrasts; and analyze and synthesize a multitude of ideas in various domains. New technologies have broadened and expanded the role that speaking and listening play in acquiring and sharing knowledge and have tightened their link to other forms of communication. Digital texts confront students with the potential for continually updated content and dynamically changing combinations of words, graphics, images, hyperlinks, and embedded video and audio.
- Students do this every time they meet to discuss strategies and make trades.
- Source: http://www.nextgenscience.org/sites/ngss/files/Appendix%20H%20-%20The%20Nature%20of%20Science%20in%20the%20Next%20Generation%20Science%20Standards%204.15.13.pdf NextGen Science standards seek to set benchmarks for STEM. Students participating in the Stock Market Game employ skills comparable to some of the recently published Next Generation Science Standardsâ (NGSS) âUnderstandings about the Nature of Scienceâ (Appendix H): Â Scientific Investigations Use a Variety of Methods (Investor Research uses a variety of methods) Scientific Knowledge is Open to Revision in Light of New Evidence (Students rebalance their portfolios based on economic, business, and market news). Scientific Knowledge Assumes an Order and Consistency in Natural Systems (Investments are impacted by various cycles and trends). Thereâs one missing: Scientific Knowledge is Based on Empirical Evidence (information that is acquired by observation or experimentation).