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School of Economics at UMB

UMB Financial Corporation - Kansas City, Missouri

2020 Community Commitment Awards Submission

  • Entry Category: Financial Education
  • Asset Size: Medium

School of Economics in Blue Springs, the flagship location, serves 12,000 students annually with 150 field trip days. The demand for the program is so great that the Blue Springs location has a waitlist. By opening a second location on UMB’s campus in downtown Kansas City, School of Economics is set to eventually double its reach. This central location makes School of Economics more accessible to students from across the bistate Kansas City metropolitan region and has a specific focus on reaching those from underserved schools and districts. Finance made fun describes the SOE experience for people of all ages and from varied backgrounds. From a financial education and economics standpoint, at School of Economics students’ cash and write checks; make deposits at the bank; apply for a business loan and pay it back, with interest. Participants see and experience, firsthand, supply and demand principals. Students also develop soft skills like teamwork and leadership and begin preparing well before they’re onsite, often creating resumes and interviewing for the jobs they’ll have during the simulation. Civic lessons are also incorporated as students can prepare speeches and run for mayor.