Programs & Events
USAID Market Simulations Teach Children the Basics of Business and Commerce
Kompong Cham Province
June 3, 2008
On most days, the courtyard of Krek Primary School, located in Krek village in Kompong Cham Province, is serene: children chat and play between classes as the teachers gather in the shade to discuss the day’s events. But on a recent weekday in early June, the energy level was closer to that of a busy indoor market in Phnom Penh.
Hundreds of students dashed between stalls that sold food like breakfast noodles, baguettes and candy, as part of a market simulation funded by the U.S. Agency for International Development (USAID). The event was designed to teach students the basics of commerce and business. Vendors touted their wares, buyers bargained and money changed hands, and although the currency was fake, the lessons learned were real. The event at Krek was one of 24 market simulations USAID organized this month in Kompong Cham, Kratie and Mondulkiri provinces.
“We really enjoyed the event, and we learned a lot of valuable lessons,” said Chiep Serey Net, a 12-year-old student at Krek. Chiep and four of her classmates sold sandwiches and made a 15 percent profit on the day. “We were so successful that we will take this product back to our village and sell it for real,” she said.
Market simulations teach children the basic skills they need to start a business. In the weeks leading up to the events, students collected fake currency for good attendance and doing chores like cleaning the schoolyard. They then used this money to devise business plans, procure supplies, and, if all went well, make a profit.
The events are part of USAID’s $4.45 million Educational Support to Children in Underserved Populations (ESCUP) program, which is implemented by World Education and the American Institutes for Research. The program is designed to improve the quality of, and access to, education for marginalized groups – including the very poorest, ethnic minorities and the disabled – by offering life-skill courses, student scholarships and teacher training. ESCUP’s premise is that fewer students will drop out of school if classes are more relevant to life in rural areas. The results speak for themselves: two out of three ESCUP-targeted schools reported reduced dropout rates since they started working with the program, and 71% reported a reduction in students repeating grades.
