Students at Triangle Day School in Durham perform "The Credit Crisis: A Middle School Play." | Chris Privett
Financial Crisis Enters Stage Right
Fuqua professor writes play to explain economics to middle schoolers
Friday, October 17, 2008
Durham, NC -- How do you make something as complex as the current financial crisis simple enough for children to understand?
You don’t lecture them. You put it in their terms. That’s what Campbell Harvey did.
“Rather than lecture, I decided it may be more effective to have a play produced,” said Harvey, professor of international business at Duke’s Fuqua School of Business.
Harvey is recognized as one of the world's most distinguished scholars in finance, especially in the areas of portfolio management and global risk management – all areas relevant to the financial crisis.
He has criticized the government's actions to quell the financial crisis, and in recent weeks has been sought by international media outlets to provide commentary.
But it was a different story when Harvey was recently asked to talk about the financial crisis with students at Triangle Day School in Durham, where his son is a sixth-grader. By putting the confusing topic into the format of a simple play, Harvey translated the crisis into language that students understood.
“I knew that there was something bad going on, but I didn’t really know what was actually going on,” said seventh-grader Michael Lawson. He said he had a better understanding of the financial crisis after seeing the play.
The first performance of "The Credit Crisis: A Middle School Play," was Oct. 10, and afterward Harvey said he was impressed by the student’s attentiveness and their thoughtful questions.
“The goal of the play is to teach about risk and return,” Harvey said. “It’s important that children understand this and the overall crisis in real time – rather than trying to figure it out in history books years later.
“These children are the next generation. Hopefully, they will be in a position to avoid these financial mistakes in the future.”
