While many teens may be passing the time during the lockdown watching Netflix or playing video games, a hedge fund is introducing them to the stock market and investing.
On May 18, a digital financial literacy program called MarketWorks, focused on teaching high school students about the stock market, launched in New York City and nationwide.
The program started in 2018 is sponsored by the financial institutions Citadel and Citadel Securities and the education technology company EVERFI, and has successfully reached 13,000 students in some schools in NYC, Chicago and Dallas. Now, it will be available to any school or student in the city and across the country for free.
In total, 129 schools in NYC have used the program during the 2019-2020 school year, including 16 in the Bronx.
“We are passionate about providing educational opportunities in finance that open pathways for success,” said Gerald Beeson, chief operating officer of Citadel and the program’s executive sponsor. “We believe all students should have access to this curriculum that will impart critical knowledge and empower them with stronger financial decision skills in their everyday lives. MarketWorks has already expanded financial understanding for more than 13,000 students, and we are proud to bring this program to students, families and schools across the country, especially during this time when it is needed more than ever.”
Students who complete the program demonstrate, on average, a 55 percent increase in knowledge on key investment topics and 56 percent more students report feeling prepared to determine how current events will impact the markets and economy after taking the course.
According to MarketWorks, two-thirds of young adults lack basic knowledge about investing. MarketWorks takes students through a step-by-step learning curriculum that sets a foundation for building good financial health and capability. Through an interactive learning experience, students blend economic concepts with investing topics to learn how the government, corporations and individuals come together to participate in the financial marketplace.
“EVERFI’s work with Citadel and Citadel Securities reflects a deep commitment to students both ensuring they have equal access to education that will broaden future opportunities and preparing them for lifelong financial success,” said EVERFI’s founder and CEO, Tom Davidson. “With this shared goal, we are providing investing education to all high school students so they can begin to have a greater understanding and appreciation for global financial markets. The value of thoroughly comprehending financial markets from a young age cannot be overstated and allows students to tackle any future financial decisions.”
Students and families at home can access MarketWorks through the EVERFI Remote Learning Portal. To get started, select your state and student’s school, register, and navigate to the MarketWorks course.