KUALA LUMPUR: Knowledge in finance and entrepreneurship should be embedded in existing subjects in Malaysian secondary schools.
Educationists told the New Straits Times that this will enable such skills to be present in many parts across the school syllabus.
Universiti Kebangsaan Malaysia Faculty of Education lecturer Associate Professor Dr Hasnah Toran said it was a good idea to incorporate finance and entrepreneurship into the secondary school education.
She said this allowed students to have better control and management of their finances when they go into the working world.
"We want to inculcate these skills into the younger generation by starting them young. However, we do not want to burden them on top of what they are already doing.
"Thus, we should avoid adding on new subjects to the existing education system and use a milder approach," she said when asked to comment on a proposal to create a secondary school subject on finances and entrepreneurship.
On Sunday, Deputy Finance Minister I Datuk Seri Ahmad Maslan said the ministry will forward a recommendation to the Education Ministry (MoE) to set up a new secondary school subject relating to finance and entrepreneurship.
He had said the suggestion was essential to ensuring that the younger generation was more financially knowledgeable and to foster their interest in entrepreneurship, particularly at the micro, small, and medium (MSME) level.
He added that the Financial Education Network committee, comprising representatives from Bank Negara Malaysia (BNM), MoE and the Credit Counselling and Debt Management Agency (AKPK) would hold a discussion and conduct an initial study about introducing the new subject.
Hasnah suggested that one way to teach such topics was to include such content in other subjects.
"In the ministry's terms, it is called 'merentas kurikulum' or spanning the curriculum.
"This means that throughout Form One to Six, lessons on finance and entrepreneurship should be embedded across the syllabus and not as a new subject that would add burden to their existing course of studies," she said, adding this would also avoid putting a burden on teachers.
Hasnah suggested for the authorities to add one or two chapters on these topics in the Mathematics subject for each form, up till Form Five.
During Form Six, such knowledge could be incorporated in the Economics subject, instead, she said.
"Alternatively, it can also be done via co-curriculum by setting up an entrepreneur club for students to join."
She said it is important for students to be taught about managing finances from a young age as it would prepare them for the future.
She said financial knowledge and skills are also taught by parents and others in a family setting.
However, Hasnah said this may not apply to all families based on their socioeconomic factors.
"Teaching these topics can help B40 children to better prepare themselves for the future," she said.
Another educationist, Professor Dr Ong Tze San from Universiti Putra Malaysia said setting up a new school subject on finance and entrepreneurship may be difficult to do.
"Firstly, offering more subjects would definitely burden the students.
"It is better to incorporate financial management and entrepreneurship into existing subjects such as economics, commerce, accounting and moral education.
"In fact, we have incorporated entrepreneurship studies in tertiary education for many years and yet, its effectiveness is unknown and has never been measured," said Ong.
Apart from this, she said the challenges of a possible curriculum overload, competency of teachers in these topics, and determining an assessment system must be ironed out.
"Alternative approaches should be considered such as an integrated curriculum, extracurricular activities like a society and club to provide online learning resources for students at secondary level.
"Maybe the ministry can also take a leaf from the many schools that have organised entrepreneurship events such as open day, fundraising events and bazaars. These are more hands-on and practical approaches," she added.
Ong said alternatively, the ministry could start by organising finance and entrepreneurship-related competitions at different levels just like the school sports day to encourage the younger generation to develop their entrepreneurial skills and financial management abilities.
Efforts have been made to contact the Education Minister Fadhlina Sidek and the ministry's corporate communication section but no response has been given.
It was not the first time the deputy minister made a similar suggestion for a finance and entrepreneurship subject.
In May this year, he had made a similar proposal to the Education Ministry and Fadhlina.
