CBSE 2023-24: Financial Market Subjects in 10th, and 12th Makes Excellent Debut

In a significant move towards empowering students with essential life skills, the Central Board of Secondary Education (CBSE) recently unveiled a new subject for the academic session 2023-24 - 'Introduction to Financial Markets.'

The subject is introduced at the secondary level (Class 10th) as 'Introduction to Financial Markets' and at the senior secondary level (Class 12th) as 'Financial Markets Management.' The debut of these courses has generated immense interest and curiosity among students and educators alike.

The schedule for the board exams, released promptly after the subject announcement, triggered a surge in searches for question papers. While previous years' question papers are readily available for most subjects, a unique challenge arises for the students opting for the new subject. With the subject making its debut in the upcoming board exams scheduled for 28-02-2024 (Class 12th schedule) and 16-02-2024 (Class 10th schecule), there is a group of students who won't find any past papers for reference.

The Minister of Education, Dharmendra Pradhan, presented a detailed overview of the new financial literacy subjects in the Lok Sabha during the current Winter Session. According to the minister, the subject 'Introduction to Financial Markets' received overwhelming attention in its very first year. A total of 13,083 Class X students from 302 schools opted for this subject, while 5,340 Class 12 students from 244 schools chose 'Financial Markets Management.'

Teachers are getting trained for Future

CBSE has been actively promoting financial literacy across various grades. Financial Literacy is offered as a Skill Module in classes VI-VIII. Moreover, the board has been conducting a 'Sensitization Programme on Financial Literacy and use of Digital Tools' for teachers. Dharmendra Pradhan highlighted that, from July 2022 to December 2023, 2,995 training sessions were conducted, engaging a total of 2,53,091 teachers.

The Education Minister emphasized that the National Higher Education Qualifications Framework, developed by the University Grants Commission (UGC) based on the recommendations of the National Education Policy (NEP) 2020, provides broad learning outcomes for different qualifications. This framework grants institutions and faculty the autonomy to innovate in curriculum, pedagogy, and assessment within a broad framework of higher education qualifications. Consequently, institutions are encouraged to incorporate financial education into relevant disciplines.

Real-world applicability of education

The introduction of 'Introduction to Financial Markets' and 'Financial Markets Management' aligns with the broader vision of the NEP 2020, emphasizing holistic development and real-world applicability of education. These subjects are not only expected to equip students with a foundational understanding of financial markets but also nurture a sense of financial responsibility and decision-making skills.

As the first batch of students prepares to face the challenge of the new financial literacy subjects in the upcoming board exams, the focus on practical and relevant education becomes increasingly evident. CBSE's commitment to financial literacy underscores the importance of preparing students for the complexities of the modern world, where financial knowledge is a crucial component of personal and professional success.