A robot can teach the young (and not so young) much more about economics than old classics locked in a library. This, at least, is the new commitment of the Interactive Museum of Economics (MIDE), which reopened its doors in November after five months of renovation of its facilities in the historic center of Mexico City. Mexicans’ relationship with money and the economy has nuances that range from ignorance to debt, through savings and uncertainty. Having said that, its general director, Silvia Singer, does not hesitate to say that the new experience will leave everyone satisfied. “We make financial decisions from the moment we wake up,” he comments in an interview.
The venue welcomes its visitors with the strong steps of its youngest guest, Can-X, a robotic dog who, in addition to having legs made of steel and aluminium, speaks to the public with a metallic but affable voice, simply explaining the concepts of inflation, market supply and demand, or the monetary policy decisions of the Bank of Mexico, the country’s highest institution.
For MIDE, the greatest pride is being the first interactive place on Economics in the world. “We care that our visitors discover the value of making decisions in their daily lives,” says the museum director, who participated in each of the decisions regarding the renovation of this space. Today it is possible to record videos to share on social networks, live with robots or receive guided tours with an Artificial Intelligence (AI) tool on Saturdays and Sundays.
Since its opening in 2006, the museum has been committed to educating participants and explaining how museography can help make the visit productive for each participant. Although admission will remain free for two days, the cost remains 160 Mexican pesos (about $8.70 at current exchange rates) or a 50% discount for students, seniors and disabled people.
Participate, rather than see
21st century museums have little to do with simply observing things. When it comes to Economics and Finance, it is best to bet as if it were your own money. One of the rooms, focused on the everyday world, challenges participants to make decisions with virtual money, as if it were their own, to empower them. Those who choose to participate can choose, as if it were their own money in their wallet, whether to use a loan or draw on their personal savings.
After four months behind closed doors for renovations, the museum’s new attractions focus on modules on personal finance and monetary policy, where complex concepts are explained through simulators, balance sheets, starting a business and even understanding concepts such as decisions made by the central bank.
In collaboration with the Bank of Mexico, several rooms seek to portray people’s relationship with money, from spending, to budgeting, and to simple decisions like taking an Uber or the Mexico City subway.
Everything adds, everything takes away. In a society where financial decisions depend on inflation, pass through remittances and end up in commercial offers like El Buen Fin, the contribution of this space is freely chosen.
General information on the Interactive Museum of Economy (MIDE)
- Free entry from 8 to 16 November.
- General admission: 160 Mexican pesos.
- Entrance for students, teachers and seniors: 80 pesos.
- Entrance from Saturday to Sunday from 9:00 to 13:00: 2×1.
- Entrance from Tuesday to Friday from 3pm. at 5pm 2×1.
