| Manila Bulletin Feb 17, 2006 GMA backs PSE move to include capital market subjects in curriculum |
| By ANA MARIE MACUJA President Gloria Macapagal Arroyo yesterday welcomed the proposal of the Philippine Stock Exchange to include capital market subjects in college curriculum. The PSE, along with the Association of Securities Analysts of the Philippines (ASAP), the Capital Market Institute of the Philippines and the Philippine Association of Collegiate Schools of Business (PACSB) floated the idea as part of their initiatives to further develop the country’s capital market. PSE officials led by its chairman, retired Justice Jose Vitug, bared their proposal when President Arroyo paid the PSE a short visit yesterday morning. Under the plan, colleges and universities in the country will offer specific courses and stand-alone subjects on the dynamics of the financial and capital markets, including the stock market, instead of offering these subjects as mere electives or as a practicum. The subjects will include pointers on how to invest in the stock market and how to understand the characteristics of various stock and capital market instruments. They will also focus on rules governing the financial and capital markets and the interplay between these markets and various institutions that support them, including banks, investment houses and brokerage firms. Many colleges and universities in the country, even those that offer business courses, have yet to include these specific subjects in their curricula. Often stock market brokers and traders learn the ropes of their trade through on-the-job training and apprenticeship. "It is our aspiration to create a new breed of professional stock market people who will receive their formal education about the capital market from schools," PSE president Francis Lim said. "That aspiration has received a big boost today from no less than President Arroyo," Lim disclosed. During her visit President Arroyo also bared that she wants government financial institutions (GFIs) to assume a bigger role in promoting stock market investments. This was in response to the hope expressed to Mrs. Arroyo by PSE President Francis Lim that he would want to see more investments by the GFIs in the equities market, as a means of improving volume in our stock market which still pales in comparison with our Asian neighbors despite its improvement in recent years. |
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