2023 Recipients of Award for Excellence in Teaching Economics

 Two great educators are being recognised by the Bank of Canada Museum for their remarkable work in educating pupils about the economy.

The winners of the Museum's second annual Award for Excellence in Teaching Economics are Andre Boutin Maloney from Bert Fox Community High School in Fort Qu'Appelle, Saskatchewan, and Kim Dudek from Murdoch Mackay Collegiate in Winnipeg, Manitoba.

Through a teaching strategy that placed the students and their interests at the centre of learning about the economy, the two teachers assisted students in connecting general economic concepts to local and national settings. Students also gained financial and economic literacy skills from doing projects that set the bar for economics instruction.

Students of Andre's studied about the functions of Native American hunters and trappers. After that, the students created a role-playing game based on economic concepts including supply and demand, labour division, perceived value, and the free market. Students exchanged tokens made of beaver fur for resource cards during the game. Each resource card included restrictions that reduced the trapper's effectiveness, showcasing Indigenous creativity. At the Treaty 4 Gathering in their village, the pupils later instructed younger kids in the game.

To raise money for a neighbourhood women's shelter, Kim's high school pupils established a trading station and created presents and cultural mementos to sell. Kim, a Métis teacher, has taken on the challenge of raising money during the holiday season when people have more demands made on their time and money. The economy was taught to students through practical applications. Solving logistical and economic issues taught us about profit, profit-making, social responsibility, and payment procedures in free and mixed market economies.

Each winner is given $1,000 as well as a gift basket filled with goodies for their class. The Museum's website has further details about this year's winners.

A selection committee composed of Bank of Canada employees and specialists from non-profit organisations and governmental organisations in the domains of economics and education assessed nominations that were received from all throughout the nation.

“The jury was provided with some remarkably innovative approaches to teaching economic concepts," said Deputy Governor Sharon Kozicki. “What really stood out was the ability of Kim and Andre to get their classes to learn economics through activity, using perspectives sure to resonate with today’s students. With these approaches, it seemed likely that students would get excited about these topics and remember the economic lessons.”

Early in 2024, nominations for the next year's prize will be accepted.

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