Press Releases

Federal Reserve System Prepares Inventory of Archival Records; CEE’s Nan J. Morrison Works with Centennial Advisory Council to Launch Initiative

The Federal Reserve System has just announced plans to offer comprehensive, single-point access to its inventory of historical materials, a valuable resource for researchers, academics, and anyone interested in the chronicle of the nation’s central bank. The inventory will be the first of several initiatives surrounding the Federal Reserve’s double-centennial, with hundred-year anniversaries of the signing of the Federal Reserve Act and the opening of the Federal Reserve Banks in December 2013 and November 2014.

Overseeing the Federal Reserve’s centennial initiatives is the Centennial Advisory Council, comprised of 24 members from the public and private sectors. Working in conjunction with a planning committee chaired by Jeffrey Lacker, president of the Federal Reserve Bank in Richmond, the Centennial Advisory Council will keep the budget for celebration and substantive work on-balance and conduct further educational outreach.  Council for Economic Education’s CEO and President Nan J. Morrison has been appointed as a member alongside honorary co-chairs Paul A. Volcker and Alan Greenspan.

The Federal Reserve inventory will identify materials that are currently available from a variety of sources, including the websites of the Reserve Banks and the Board of Governors, the Federal Reserve Archival System for Economic Research, websites housed at universities, and private collections. It will also include information about material that is not yet available online but is currently being considered for digitization and posting. With improved web access to its texts, photographs, video and audio recordings, the Federal Reserve will enhance transparency, putting its archival records directly in the hands of the public.

As part of its efforts to expand the inventory, the Federal Reserve invites historians, scholars, and all interested members of the public to submit historical sources for inclusion that aren’t listed. The inventory and additional information about the Centennial are available at any of Federal Reserve Bank’s state websites and the official site of the Board of Governors.

POSTED: June 4, 2012 | BY: Leslie Rasimas | TAGS: , ,

Council for Economic Education Provides New Personal Finance Curriculum For Chicago Public Schools

Chicago Public Schools (CPS) has just announced plans to implement a new Financial Literacy Framework to build financial skills at the K-11 level, along with a dedicated personal finance course for 12th-graders created by the Council for Economic Education (CEE). This initiative is the result of a 4-year partnership with CEE and other leaders in finance and financial education, and will provide students with the necessary real-world skills to navigate today’s financial landscape.  This announcement was formally made at last week’s White House Summit on Financial Literacy, where CEE and the school system were recognized for their ongoing efforts to prioritize financial education in our nation’s schools.

CPS’ 12th grade personal finance course is designed to culminate the K-11 skills taught by the Financial Literacy Framework. The one-semester course will use curriculum provided by the CEE, offering seniors both an academic challenge and an education in the real life lessons they need beyond graduation. The capstone course will be introduced to approximately 25 schools in spring 2013, and is expected to reach all district high schools by 2016. Funding by a $1 million grant, courtesy of Discover Financial Services, will also include training for 250 teachers over the next three years.

“We couldn’t be more excited to be part of this important endeavor by Chicago Public Schools,” said Nan J. Morrison, President and CEO of CEE.  “Our graduating seniors are entering college and the workforce woefully unprepared for the real-life financial challenges ahead of them. By providing them with the financial education they need, we hope to change that.”

Additional partners in the development of the Financial Literacy Framework include: Ariel Investments, Econ Illinois and the University of Illinois at Chicago Center for Economic Education, Network for Teaching Entrepreneurship (NFTE), Federal Reserve Bank of Chicago, JP Morgan Chase, National Endowment for Financial Education, CME Group Foundation (Chicago Mercantile Exchange), Chicago Community Trust, Junior Achievement (JA), Illinois State Treasurer’s Office, City Treasurer’s Office, EverFi and the Economic Awareness Council. Money Savvy Generation, CARE, Girl Scouts of America/ Journey World, Illinois Credit Union League and Sargent Shriver National Center on Poverty Law.

About the Council for Economic Education

The Council for Economic Education is the leading organization in the United States that focuses on the economic and financial education of students from kindergarten through high school. CEE trains educators to teach young people the fourth “R”—a real-world understanding of economics and personal finance—so that they will be able to make informed and responsible choices throughout their lives as consumers, savers, investors, citizens and participants in the global economy. Each year CEE’s programs reach more than 55,000 teachers and approximately 5 million students.

POSTED: May 23, 2012 | BY: Leslie Rasimas | TAGS: , , , , ,

Belmont High School and Little Falls Community High School Win 2012 National Economics Challenge Championships

Students competed against nearly 6,000 others to be honored as the Nation’s brightest

NEW YORK – May 21, 2012 – Belmont High School of Belmont, MA, and Little Falls Community High School of Little Falls, MN placed first in their divisions of an exciting quiz bowl to become the national champions of the 2012 National Economics Challenge, presented by the Council for Economic Education (CEE).

Belmont, competing in the Adam Smith division of students enrolled in Advanced Placement, International Baccalaureate or honors courses, beat The Harker School of San Jose, CA, 15-6; while Little Falls, competing in the David Ricardo division for students enrolled in introductory-level economics courses, beat Carmel High School from Carmel, IN, with a score of 15-4.

Teams who competed to win the national title placed as follows:

Adam Smith division

  • Belmont High School, Belmont, MA – 1st Place
  • The Harker School, San Jose, CA – 2nd Place
  • Bellaire High School, Bellaire, TX – 3rd Place
  • Homewood-Flossmoor, Flossmoor, IL – 4th Place

David Ricardo division

  • Little Falls Community High School, Little Falls, MN – 1st Place
  • Carmel High School, Carmel, IN – 2nd Place
  • Iolani School, Honolulu, HI – 3rd Place
  • Michael E. DeBakey High School, Houston, TX – 4th Place

Belmont was led by coach Bryan Corrigan, and his team members were Ben Goodman, Robbie Gibson, John Lazenby and Even Green.  Little Falls was led by coach Tom Stockard, and his team members were Derek Toso, Adam Grams, Caleb Hardekopf and Michael Borders.

More than 1,500 high school teams in 33 states contended for a spot in the championship in New York City. Finalist teams competed in the oral quiz bowl about complex economic concepts and theories of micro- and macroeconomics, international economics and current events.

“CEE wants to ensure that economics and personal finance concepts are taught to our students – and that these concepts stick with them through adulthood,” said Nan J. Morrison, President and CEO of the Council for Economic Education. “As these remarkable young people have shown us this weekend, teaching these subjects at a young age provides students with the strong foundation to grow into tomorrow’s leaders.”

The 2012 National Economics Challenge was made possible by generous support from State Farm®.

Watch the National Economics Challenge here.

About the Council for Economic Education

The Council for Economic Education is the leading organization in the United States that focuses on the economic and financial education of students from kindergarten through high school. CEE trains educators to teach young people the fourth “R”—a real-world understanding of economics and personal finance—so that they will be able to make informed and responsible choices throughout their lives as consumers, savers, investors, citizens and participants in the global economy. Each year CEE’s programs reach more than 55,000 teachers and approximately 5 million students.

About the National Economics Challenge

The CEE created the National Economics Challenge in 2000 to promote student interest in economics, reinforce classroom instruction, advance academics and school spirit and reward scholarship. In 2011, more than 1,200 teams of high school students participated in 32 states nationwide. The National Economics Challenge is one of several key initiatives in the CEE’s “Campaign for Economic Literacy” which seeks to focus public attention on the importance of economic literacy and the need for a high-quality, standards-based economics curriculum in every state.

POSTED: May 21, 2012 | BY: Leslie Rasimas | TAGS: , , ,

Eight High School Teams to Compete in 12th Annual National Economics Challenge

Finalists Outscored More Than 1,500 Teams in Economics and Current Events Tests

NEW YORK – May 1, 2012 – Student teams from eight high schools will compete as finalists in the National Economics Challenge Finals, May 19-20, hosted by the Council for Economic Education and sponsored by State Farm.

The Challenge offers students two levels of competition on the basis of their course enrollment. Students enrolled in advanced placement, international baccalaureate and honors economics courses entered the Adam Smith Division, and students enrolled in single semester general economics classes competed in the David Ricardo Division. The eight teams won both state and Semi-Finals competitions in their respective divisions, defeating over 1,500 teams from 33 states to advance to the finals.

Finalists in the Adam Smith Division are:

  • Bellaire High School, Bellaire, TX
  • Belmont High School, Belmont, MA
  • The Harker School, San Jose, CA
  • Homewood-Flossmoor, Flossmoor, IL

Finalists in the David Ricardo Division are:

  • Carmel High School, Carmel, IN
  • Iolani School, Honolulu, HI
  • Little Falls Community High School, Little Falls, MN
  • Michael E. DeBakey High School, Houston, TX

Teams will compete Saturday, May 19 in three written tests and one critical thinking round to answer questions on complex economic concepts and theories involving micro- and macroeconomics, international economics and current events.  The National Economics Challenge Finals culminates in a quiz-bowl round Sunday, May 20 at the WNET Tisch Studios, New York, NY.

“More than 5,760 students participated in this year’s Economics Challenge, and CEE will have the distinct pleasure of welcoming 32 of the country’s brightest to our National Championship this May,” said CEE’s President and CEO, Nan J. Morrison.  “Congratulations to all students and their coaches who took part this year.”

About the National Economics Challenge:
The CEE created the National Economics Challenge in 2000 to promote student interest in economics, reinforce classroom instruction, advance academics and school spirit and reward scholarship. In 2012, more than 1,500 teams of high school students participated in 33 states nationwide. The National Economics Challenge is one of several key initiatives in the CEE’s “Campaign for Economic Literacy” which seeks to focus public attention on the importance of economic literacy and the need for a high-quality, standards-based economics curriculum in every state.

About the Council for Economic Education:
The Council for Economic Education is the leading organization in the United States that focuses on the economic and financial education of students from kindergarten through high school. CEE trains educators to teach young people the fourth “R”—a real-world understanding of economics and personal finance—so that they will be able to make informed and responsible choices throughout their lives as consumers, savers, investors, citizens and participants in the global economy. Each year CEE’s programs reach more than 55,000 teachers and approximately 5 million students.

 

POSTED: May 1, 2012 | BY: Leslie Rasimas | TAGS: , , ,

Thad Cochran & MS Teacher Agree on Financial Literacy Benefits

Sharra Jones Testifies at Senate Hearing on Mississippi Financial Literacy Program

WASHINGTON, D.C., April 26 – U.S. Senator Thad Cochran (R-Miss.) today concurred with points made by a Mississippi elementary school teacher at a U.S. Senate hearing on the benefits of increasing financial literacy among students.

Sharra Jones, a third grade teacher at Oak Park Elementary School in Laurel, was among the witnesses invited to testify at a “Financial Literacy:  Empowering Americans to Prevent the Next Financial Crisis” hearing called by the Oversight of Government Management Subcommittee of the Senate Homeland Security and Governmental Affairs Committee. Read more…

POSTED: April 27, 2012 | BY: Leslie Rasimas | TAGS: , , , ,

CEE Wins EIFLE Award for Education Program of the Year in Children’s Saving and Investing

EIFLE Logo1 150x150 CEE Wins EIFLE Award for Education Program of the Year in Children’s Saving and Investing
Orlando, Fla. – The Institute for Financial Literacy awarded the Council for Economic Education with a 2012 Excellence in Financial Literacy Education (EIFLE) Award. Financial Fitness for Life®, Grades 9-12, won the Education Program of the Year in the Children’s Saving and Investing Category.

“CEE is proud of the recognition received for our Financial Fitness for Life program. A lot of dedication goes into the creation and delivery of FFFL, ensuring we reach as many students as possible to teach smart financial behaviors at a young age,” said CEE President and CEO Nan J. Morrison.

Financial Fitness for Life (FFFL) teaches students, and measures their progress on understanding, the four themes of personal finance: earning an income, saving, spending and credit, and money management with engaging, hands-on instructional activities.

About the Council for Economic Education

The Council for Economic Education is the leading organization in the United States that focuses on the economic and financial education of students from kindergarten through high school. CEE trains educators to teach young people the fourth “R”—a real-world understanding of economics and personal finance—so that they will be able to make informed and responsible choices throughout their lives as consumers, savers, investors, citizens and participants in the global economy. Each year CEE’s programs reach more than 55,000 teachers and approximately 5 million students.

About the Excellence in Financial Literacy Education (EIFLE) Awards

Established in 2007, the mission of the EIFLE Awards is to promote the effective delivery of consumer financial products, services and education by acknowledging the accomplishments of those that advance financial literacy education. The EIFLE Awards dinner is held each year during the Annual Conference on Financial Education.

About the Institute for Financial Literacy

The Institute for Financial Literacy is a nonprofit 501(c)(3) tax exempt organization whose mission is to promote effective financial education and counseling. As a national authority on adult financial education, the Institute advances professionalism and effectiveness in the field of financial literacy by setting the National Standards for Adult Financial Literacy Education™, hosting the Annual Conference on Financial Education™, presenting the Excellence In Financial Literacy Education (EIFLE)™ Awards, maintaining the Library of Personal Finance™, and administering the Center for Financial Certifications®, Council on Financial Education Accreditation™, Center for Consumer Financial Research™ and Center for Consumer Financial Education™. For more information about the Institute, visit www.FinancialLit.org.

POSTED: April 20, 2012 | BY: Leslie Rasimas | TAGS: , , , , ,

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