1. Introduction

The Ministry of Education, Youth and Sports currently has a strong policy to promote Local Life Skills (LLSP) activities in order to facilitate the holistic development of the child. Such programs can develop generic skills such as decision-making, critical and creative thinking. The child develops a sense of responsibility for their own development as well as having the opportunity to work in close cooperation with others to achieve common goals.

A Market Simulation (MS) allows students to use generic skills and specific technical skills developed through the community based life skills program. Students are given the opportunity to utilize budgetary skills in a simulated market setting in school related to buying, selling, bookkeeping, borrowing money and prioritizing purchases.

Market Simulation activities are based and depended on the existence of LLSP activities. In fact the Market Simulation activities are done after the completion of the LLSP. It's not essential that a functioning Student Association is present. However LLSP activities, MS activities and SA are mutually complementary.

2. Primary Objectives

• Assisting schools to visualize the Market Simulation concept
• Assisting schools to identify logistical issues involved in setting up a Market Simulation.

3. Information on Implementation

In the LLSP program, Grade 5 and 6 students have the opportunity to familiarize themselves with different skills in a ten week period. The Market Simulation will take place in week eleven and twelve. In week eleven and twelve a part of the children will be sellers and a part will be buyers. This depends on how much students there are in Grade 5 and 6. All students will be able to earn 'fake' money for certain activities such as cleaning, working in the garden, helping teachers, etc. and as an incentive for attending classes every day. Money can be saved starting from the beginning of the LLSP. After ten weeks a market will be organized. Students can offer the services that they have learned in the LLSP such as hair cutting, playing traditional music, sewing, repairing bikes, food processing, etc. They can sell products that they made by themselves or they can provide services supported by the school like serving food in a restaurant created for the market, watching animation video's, doing arts and educational games (puzzles and creative and critical thinking activities).

4. Resources Needed

• Materials for various events that occur during the simulation
• Food and refreshments