By Ghadeer Ghloum
KUWAIT: In today’s rapidly evolving world, it is undeniable that financial literacy and business awareness are essential skills for young individuals to succeed in their personal and professional lives. As the future leaders and entrepreneurs of Kuwait, high school students must be equipped with the necessary knowledge and understanding of business and finance. Introducing these subjects in high schools not only empowers students to make informed financial decisions but also cultivates a mindset of entrepreneurship and prepares them for the challenges of the modern economy.
Kuwait Times interviewed business and finance teacher Mubarak Al-Enezi to delve into the importance of incorporating business and finance education in Kuwaiti high schools and to explore the benefits it brings to the students, the economy and society as a whole.
Kuwait Times: What is the importance of studying business and finance in high school?
Mubarak Al-Enezi: Clearly, the changing world in various aspects necessitates the improvement and development of subjects taught in schools.
This is due to advancements in technology, medicine, and economics. Studying business and finance in high school is crucial for students as it equips them with essential management skills, financial acumen, and the fundamentals of economics. High school students can gain an understanding of management systems and how global economic systems operate. Additionally, they can take their first steps in differentiating between the public and private sectors.
Kuwait Times: How can studying business and finance improve practical skills and critical analysis?
Enezi: Workplace activities are among the most effective methods of teaching business in high school. These activities enhance students' practical skills and allow them to practice real workplace competencies. Developing these skills prepares students for the actual workplace and equips them to handle diverse situations. Critical analysis case studies are another classwork approach that students engage in during business classes. These exercises help students improve their critical reading skills and foster teamwork in analyzing issues and proposing effective solutions.
Kuwait Times: What are the basic economic and financial issues that students can understand from learning business and finance?
Enezi: Studying business and finance can help students grasp common economic and financial issues worldwide. They can comprehend the significance and impact of inflation on the economy, fluctuations in interest rates, the influence of political conditions on the economy, and how Gross Domestic Product (GDP) can affect currency valuation.
Kuwait Times: What are the expectations of studying business and finance in high school?
Enezi: Education is the means of nurturing new members of society, making it vital for community improvement. Teaching business and finance to high school students can help create skilled and talented leaders, creative entrepreneurs, and ethical business owners who bear responsibility towards their society and country. Learning business and finance at this stage of a student's life equips them with early knowledge that guides decision-making for their future during college and assists in identifying a suitable career path.