The glitz and glamour of the finance industry has put banking as one of the most desired ambitions even among younger kids. However finance and economics are not really thought or prioritized in a primary school curriculum.
There’s where Wonga Bazaar comes in. This app with its focus on economics and the basics of common business sense has the potential to engage children as young as 10 in the fickle world of demand and supply.
Goals of Wonga Bazaar App
The goal behind the Wonga Bazaar app is to present the concepts of the financial markets in a simplified, innovative and entertaining manner. The game is based on simple time-tested financial principles and habits that most wealthy people use to get wealthier or be debt-free, such as buying low and selling high.
Participants of all ages can learn as they play, as well as apply their learning instantly within the enjoyably competitive game.
Motivations behind Wonga Bazaar App
The men behind this app wanted to create a game that they would let their kids play and they would use themselves. According to Nat Ramachandran, co-founder of myZantium inc, creators of the app, Wonga Bazaar presented a space where young adults could explore and learn the basic concepts of investing, finance and economy through experiential, joyous and mind stimulating way.
“Wonga Bazaar is an effort to encourage young adults to experiment their thoughts and strategies within a controlled economic environment and also to bring down the cost of learning through simplified gaming approach. Putting games and education together will definitely catch the attention of many.”
To educate and entertain
This idea of catering to both education and entertainment tapped on the belief that the consumer expects more bang for their buck. And here was a game that could entertain you for hours (the dynamic nature of the game means that each action even if repeated could result in a different reaction) as well as be an educational tool.
Basics of the game
Wonga Bazaar is a unique and first-of-a-kind fantasy financial lab that simulates a fictitious marketplace, and injects economic events showcasing the laws of supply and demand, inflation, risk-rewards, penalties, dividends, taxation, borrowing and savings during the course of the game. Participants can expect to learn and apply financial and economic concepts while having fun competing in street markets!
According to Kannan Mahalingam, CEO and co-founder of myZantium Inc., there are plans to expand the game and create multiple financial markets where players can trade in China, Japan or the NYSE and FTSE Index. For now though, Wonga Bazaar is set in the rich Indus Valley where trade is volatile and buying and selling is the flavor of the day.
Where you download Wonga Bazaar
Wonga Bazaar is available for the iPad on the Apple appstore and it is free to download.