Tuesday 5 June 2018

A new approach to learning economics









The teachers can not only teach the things they know the best but also inspire students to create something which might show them their future career paths. 



One of the innovative ways to teach students to apply the knowledge they gain at school during the theory lessons is to encourage them to participate in different projects.

The students from Vilnius Mykolas Birziska gymnasium took part in the project on economics which aim was to set up a real business, to manage it, to feel its successes and failures. In this project students have improved such skills as financial literacy, entrepreneurship and career education.

During the project students set up their business, collected a starting capital, planned what they would make and sell, then made the product and sold it, carried out the marketing research and finally closed their business. 

The project lasted for about one school year during which students had to complete all the stages of business. During these months students were closely monitored by their teachers who were ready to consult students but it was the students who always took the responsibility for their actions.

Our students set up a business which sold practical things such as dish sponges which have magnets to keep them attached to the sink or protective shoe soles which are attached to the shoes with the help of magnets.

Later the students participated in different Start-ups fairs in which they advertised the products and sold them for real money. After the project all of them claimed that that was the best lesson which they could have at school.

During the project students have learned not only theoretical knowledge how business works but also experienced everything by themselves. Such projects are the best lessons the student can get at school as they teach real life skills which will be necessary and applicable in the future.