Secondary school students gain first-hand experience on financial markets
DOHA, QATAR- Fifty secondary schools students experienced life on the trading floor and gained insight into financial markets at Tajer-Day, which was held at Carnegie Mellon University in Qatar last week.
The first Business Administration community outreach program, Tajer-Day saw students take to the trading floor in two simulated live trading scenarios. The event was sponsored by Al Faisal Holding and run by Professors Muhammad Farooqi and John O’Brien.
Each scenario took students through different market types, from “open outcry” trading in a pit to electronic markets. The students initially congregated on the trading floor, where they learned to negotiate face-to-face with other students over price. They later moved onto electronic stock markets using the Financial Trading System, where trading is connected by online networks and the result of negotiations are bids and asks. In these markets students were introduced to how news items impact prices and concepts related to momentum and market efficiency.
The overriding objective was for students to learn how markets work. According to O’Brien, associate professor of accounting: “Markets are all about negotiation and price discovery. Tajer-Day was designed so students could learn how both product and financial markets work, from personal negotiations and trading experience. That is, learning was by doing.”
A second objective was to encourage students who have an interest in studying business to apply. According to Farooqi, visiting assistant professor of finance: "Given that these students are in the process of applying to colleges and universities, I hope we were able to get them interested in the world of business and finance. Overall, I think this program was a great opportunity for the students to get a first-hand look at the different forms of markets, as well as for us to be able to speak to potential applicants and understand their backgrounds and expectations."
Carnegie Mellon’s Business Administration program has earned recognition for its approach to the study of business management as a science. Graduates of the program are well prepared to make a significant impact in business and in society.
Carnegie Mellon Qatar faculty are keen to build on the success of the first Tajer-Day and hope to expand the program in the future.
The application deadline for Fall 2014 admission to Carnegie Mellon is March 1, 2014. For more information about the application process, visit: qatarcmudev.wpengine.com/admission
