Source: Jens Kastner (dpa) | 16/01/2011

Taipei (dpa) - For a long time in the curriculum of primary schools in Taiwan include visits to nearby credit institutes. They are also frequently invited employees of banks, explain to children in classrooms operation of the passbook or ATM.

Some educational institutions in China are a little further and teach children aged between six and 12 years to manage in the financial markets and actions and be smarter than their parents in regard to investing money.

A pioneering work in early financial education is done by the Washington school in the city of Taichung in central Taiwan. Through games designed for elementary school classes, children here become true experts in finance.

Transmitted knowledge are light years ahead of the lessons that can be achieved with the classic board game "Monopoly." Instead of simply asking whether or not to buy a property listed on the board, children learn to minimize investment risks, despite the influence of politics, economy and natural disasters.

The parents of these students belong to higher income classes, so their enthusiasm for teaching finance and economics is great.

According to parents, who want to multiply the family estate in the "battlefield" of the capital markets should start discussing the issue at an early age.

The surprisingly large number of skills that children acquire in the classes was demonstrated in a recent financial Olympiad held at Washington Elementary.

The 16 teams of students, who competed against each other, they were confronted with problematic situations, the resolution would have made sure other students sweating in other parts of the world, and even college.

Elementary students had no doubts about that can not be wrong to invest in commodities before the start of hurricane season in the U.S..

Children were also clear that, faced with rising military tensions on the Korean peninsula, the best reaction is to buy fixed income securities.

While parents held their heads and wailing in unison saying "too difficult", a student of the sixth year was confident before the television cameras.

"The key to success is the understanding of economic relations and the optimal structure of the portfolio itself," said Jiang Xiangzhou, a child only six years will be old enough to get a driver's license.

The Taiwanese press is often devoted to reporting on the impressive knowledge of primary school pupils Washington.

For this reason, even among people who do not earn fortunes spread the hope that the school prepare their children to cope in the future in the financial and stock markets.

But opinions are divided about whether and to children of six years they should start teaching on the optimal diversification in stocks, mutual funds and real estate, or perhaps only on the allocation of funds, savings and assets management bank.

The ambitious example of Washington Elementary School is followed until now only by private educational institutions, so there is the tendency of private and state schools increasingly take separate paths.

The Taiwan Ministry of Education made it clear that the widespread introduction of financial education is only planned for middle schools. But starting from the seventh year is too late, said Luo Wen-gui, Washington Elementary School, in an interview broadcast on television. "Even if the figure only finance class once a week in the schedule of studies, children learn much more than to use an ATM and understand very well what happens in the world."