One of eight Finalist teams in the 13th Annual National Economics Challenge is getting great press in the local community.

Little Falls Community High School will once again vie for the title of National Champion this weekend in New York City. The Morrison County Record highlighted their achievement in this article.

“We applaud Little Falls’ success in qualifying for the National Economics Challenge,” says Donald Liu, Executive Director of the Minnesota Council on Economic Education, host of the Minnesota Economics Challenge. “Their success is a testament to Minnesota’s strong economics educators and students, both of which are so crucial in today’s changing global environment.”

In conjunction with the Finals this weekend, CEE asked the eight Finalist teams to prepare a video profile that shows who they are as people, students and scholars. Get over to our Facebook page and vote for your favorite team. The team with the most votes will receive a $100 Amazon gift certificate for their school and a $25 iTunes gift card for each student from the team.

Stay tuned for updates from New York City this weekend as the eight Finalist teams battle for the title of National Champions!

POSTED: May 16, 2013 | BY: Leslie Rasimas | TAGS: 9-12, Contest, Councils & Centers, economics, economics challenge, Students

April was Financial Literacy Month, and educators, families, non-profit organizations and businesses across the country rallied in support of financial education.

The National Assessment of Educational Progress released The Nation’s Report Card: Economics 2012, Grade 12 at the end of April. These tests are administered by the National Assessment Governing Board, who develop assessment frameworks in mathematics, reading, writing, science, geography, U.S. history, civics, economics, the arts and technological literacy.

Students’ scores of economic literacy changed little between 2006 and 2012, suggesting that the national discussion about the millions of jobs that were lost and homes that were foreclosed didn’t translate to higher academic achievement. During that period, several states added an economics course to high school offerings and some started requiring it to earn a diploma.

The article “Recession doesn’t change students’ econ savvy” shares thoughts from financial literacy and economic education leaders, including Annamaria Lusardi, CEE board member, and Nan J. Morrison, CEE’s President and CEO.

CEE’s work has been mentioned specifically by Federal Reserve Chairman Ben Bernanke; “Financial education supports not only individual well-being, but also the economic health of our nation,” Bernanke told a town hall-style meeting with teachers in 2012. “As the recent financial crisis illustrates, consumers who can make informed decisions about financial products and services not only serve their own best interests, but, collectively, they also help promote broader economic stability.”

POSTED: May 6, 2013 | BY: Leslie Rasimas | TAGS: CEE Board, CEO, economics, Federal Reserve, Financial Literacy, partners, Students, teachers

From Education Week: Financial Literacy Standards Rolled Out for K-12

Recognizing the need for kids to be smarter about how they manage their money, the Council on Economic Education released the National Standards for Financial Literacy for K-12 education.

Developed by economists, education specialists at Federal Reserve banks, and financial education researchers, the benchmarks are intended to provide a framework of essential knowledge that 4th, 8th, and 12th graders should master to be savvy financial consumers.

Read the full report here.

POSTED: April 20, 2013 | BY: Leslie Rasimas | TAGS: Federal Reserve, Financial Literacy, National Standards for Financial Literacy, personal finance, Students

First Financial Federal Credit Union features CEE’s new National Standards for Financial Literacy on their site.

“In coming weeks and months, a new set of standards for financial literacy will cross the desks of educators across the country. The hope is that schools will embrace these guideposts and begin to wedge money lessons into students’ daily activities.

The Council for Economic Education, a nonprofit promoting financial education, developed the new standards at the request of and with input from educators at all levels. “We have a specific plan to go state by state and get these implemented,” says Nan Morrison, CEO of the council.”

Read the full story here.

POSTED: April 19, 2013 | BY: Leslie Rasimas | TAGS: CEO, Financial Literacy, National Standards for Financial Literacy, partners, personal finance, Students, teachers

The Alabama Personal Finance Challenge, sponsored by the Alabama Council on Economic Education (ACEE), tests high school students on their knowledge of income, money management, spending and credit, saving and investing. Nineteen schools will participate in the challenge on April 23 at the University of Alabama.

“There are so many people who are totally unprepared for a financial crisis,” said Wanda McAbee, ACEE’s program director. “We want to use this competition as a vehicle to take what the students are learning inside the four walls of a classroom and apply it to the real world. We want to encourage and show students how to take more responsibility for their financial lives.”

The top two teams will battle it out Quiz Bowl-style, and the winning team will go on to the national competition, sponsored by the Council for Economic Education and Wells Fargo.

Read the full story here.

POSTED: April 18, 2013 | BY: Leslie Rasimas | TAGS: 9-12, Councils & Centers, personal finance, Personal Finance Challenge, Quiz, Students

Findings from the Council for Economic Education have once again encouraged local leaders to promote financial literacy in their schools.

California Assemblyman Roger Hernandez’ bill to bolster financial literacy instruction at high schools statewide is making progress. The Diamond Bar-Walnut Patch has more on his efforts.

“Financial literacy is an issue of equity. Not everyone is given an opportunity at home to be financially literate,” Hernandez said. “Teaching this topic at schools prepares our students to enter an increasingly competitive workforce and gives them the tools to help protect themselves against predatory lending, credit card fraud and other deceptive practices.”

POSTED: March 28, 2013 | BY: Leslie Rasimas | TAGS: 9-12, Councils & Centers, Financial Literacy, Government, personal finance, Politics, Students, teachers