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The Bank of Canada Museum announces recipients of new Award for Excellence in Teaching Economics

OTTAWA — The Bank of Canada Museum is honouring two outstanding educators with a new award that recognizes exemplary work in teaching students about the economy.

Ms. Alysha Coates from Elijah Smith Elementary School in Whitehorse, Yukon, and Mr. Chris Moon from Vancouver Technical Secondary School in Vancouver, British Columbia, are the first-ever winners of the Bank of Canada Museum’s Award for Excellence in Teaching Economics.

The two teachers helped students connect broad economic concepts to local and national contexts through a teaching approach that put the students and their interests at the heart of learning about the economy. As well, students developed financial and economic literacy skills from projects that are exemplary in the field of economics education.

Ms. Coates’ class designed their own hot chocolate business, including a brand, logo and slogan. The students began by comparing prices for ingredients and then purchased their supplies with a small business loan of $20. Planning and prototyping were followed by a week-long sale to peers. Amid the fun, students learned about budgeting, price comparing and compound interest.

Mr. Moon’s students researched and developed a board game called “COVID-19-opoly.” The students analyzed the news reflecting the economic realities of the pandemic in an engaging and informative way. The game included mask requirements, lockdowns, subsidies and food delivery.

Each winner receives $1,000 and a gift basket filled with items from the Museum’s boutique for their class. More information on this year’s winners is available on the Museum’s website.

Nominations were received from across the country and were reviewed by a selection committee comprised of Bank of Canada staff and experts in the fields of economics and education.

“It was such a pleasure for me to be a judge in the first ever Economics Teaching Award offered by the Bank of Canada Museum. The submissions showed incredible innovation and a wide variety of approaches to teaching economic concepts. What great ways to build excitement among students about topics that directly apply outside the classroom! I was very impressed by the submissions and look forward to seeing what great ideas will be submitted next year” said Bank of Canada Deputy Governor Sharon Kozicki.

Nominations for next year’s award will open in early 2023.

Notes to editors

  • The Bank of Canada Museum in Ottawa, Ontario, explains how the Bank sets monetary policy, promotes a sound financial system, issues Canada’s bank notes and acts as fiscal agent for the Government of Canada.
  • The Museum supports teachers and students through free school programs, lesson plans and activities available on its Learn page.
  • For more information about the Museum and its services, visit the website.
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