Finland's Yrityskylä program immerses sixth-graders in simulated business environments, improving their financial literacy.
This article is part of the FT’s Financial Literacy and Inclusion Campaign joint seasonal appeal with Magic Breakfast. The children scurry around from bank to café, supermarket, TV station and various municipal offices. A farmer drives by on his tractor taking produce to be sold, while nearby a photographer is earning money in their studio. This is not taking place in a real town but a make-believe one in a warehouse on the outskirts of Finland’s capital, Helsinki.
Dozens of sixth-graders, 12- and 13-year-olds, are taking part in Yrityskylä, a national network of business villages designed to improve their financial literacy. Fully 91 per cent of Finnish students take part in a 10-lesson programme, during which they learn how business, the economy and society work as well as how to apply for a job. Finally, they are let loose in the business village for a day to practice teamwork in their work uniforms, buy drinks and food with the money they earn, and even find out what happens if they spend too much and they need to make emergency cash. “It was so fun,” recalls Taika Smith, now a 17-year-old economics student. “It was the first moment I knew I wanted to do something in business. It was lovely to talk to people, and to do some maths related to economics.” Finland aims to achieve the best financial literacy in the world by 2030, and projects such as Yrityskylä are a big part of the push. Already in 2018, Finland placed second financial literacy at schools (behind Estonia) in the Pisa rankings from the OECD. The Financial Times launched the Financial Literacy and Inclusion Campaign in 2021 to democratise teaching about money and finance with free, engaging content for young people across the UK. This year’s seasonal charity appeal supports both FLIC and Magic Breakfast, a UK charity providing more than 200,000 young people a day with their first meal of the day
FINANCE EDUCATION FINANCIAL LITERACY YRKITYKYLÄ FINLAND
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Finnish 'Business Villages' Boost Financial Literacy Among YoungA unique program in Finland called Yrityskylä is helping to improve financial literacy among students. Sixth graders participate in a 10-lesson program where they learn about business, economics, and society. They then apply their knowledge in a simulated business village, where they earn money, make purchases, and learn about budgeting.
Read more »
KPMG Scholarship Programme Provides Financial and Mentoring Support to Queen's University Business StudentsKPMG has launched its fifth-year scholarship programme, offering £3,000 yearly financial support and two paid summer internships to selected Queen's University business students. The programme also provides mentorship opportunities and a strong chance of a graduate career at KPMG. The initiative aligns with KPMG's commitment to building a diverse workforce.
Read more »
Finnish authorities Board Tanker After Power Cable Goes DarkThe Estlink 2 electricity cable connecting Finland and Estonia was disrupted on Christmas Day, sparking concerns of another potential undersea cable sabotage incident in the Baltic region.
Read more »
Finnish Cops Storm Russian Oil Tanker Suspected of Spying and Cable DamageFinnish authorities boarded a Russian-linked oil tanker, the Eagle S, suspected of carrying 'spy equipment' and damaging undersea cables in the Baltic Sea. The ship is believed to be part of Russia's 'shadow fleet' and is accused of disrupting NATO communications and infrastructure.
Read more »
Finnish Police Seize Suspected Russian 'Spy Ship' in Baltic SeaFinnish authorities have seized a Russian-linked oil tanker suspected of carrying 'spy equipment' and damaging a key undersea power cable linking Finland and Estonia. The incident has prompted NATO to increase patrols in the Gulf of Finland.
Read more »
Finnish Investigators Link Russian 'Spy Ship' to Baltic Power Cable RuptureFinnish investigators have linked a Russian-linked vessel, the Eagle S, to the rupture of the Estlink-2 power cable in the Baltic Sea. The incident, which occurred on December 25th, follows previous incidents of damage to data cables and the Nord Stream gas pipelines, raising concerns about sabotage.
Read more »