CEE Board

CEE in the News: Tackling Investor Ignorance in The Wall Street Journal

Our global economy has become so complex that the gap between what people know about economics and personal finance, and what they need to know, is widening every day. Americans are increasingly responsible for their financial future, yet an alarming number lack even basic economic awareness.

In Karen Blumenthal’s article for The Wall Street Journal, Tackling Investor Ignorance, she dissects the latest report from the securities and Exchange Commission on personal finance for Americans. The conclusion? Not great.

From the article:

“Small investors, the SEC said, “have a weak grasp of elementary financial concepts and lack critical knowledge of ways to avoid investment fraud.

That’s a problem for individuals if they buy products they don’t understand, accumulate too much debt or take unintended risks with their retirement funds or other savings.”

So where does the Council for Economic Education fit in? How do we fix the problem?

“Still, people can’t be experts about every financial product or investment. So what exactly do they need to know to make good decisions?

Plenty of experts have been wrestling with this. The nonprofit Council for Economic Education is working on standards for students in fourth, eighth and 12th grades in six main subject areas: earning income, buying goods and services, saving, using credit, investing and protecting and insuring assets.”

Dr. Annamaria Lusardi, CEE Board Member and professor of economics and accountancy at George Washington University, and Bill Bosshardt, Director of the Center for Economic Education at Florida Atlantic University both weighed on the full article here.

POSTED: November 5, 2012 | BY: Leslie Rasimas | TAGS: , , , ,

PwC Three-Day Training to Deepen More Than 150 Educators’ Personal Finance Teaching Skills

PricewaterhouseCoopers, LLP and Knowledge@Wharton High School Co-host First Seminar for High School Educators on Business and Financial Responsibility

PwC and Knowledge@Wharton High School (KWHS) are proud to co-host the first PwC and KWHS Seminar for High School Educators on Business and Financial Responsibility, a three-day, intensive learning experience where educators can deepen their knowledge and teaching skills about financial literacy and business. Read more…

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

We met the $200,000 Challenge!

Thanks to our generous donors, CEE is proud to announce that we have met the $200,000 challenge.  The 2012 Challenge Grant, issued by one of our board members in early April, offered to match all gifts made between April 1 and June 30, dollar-for-dollar, up to $200,000. We are grateful for our board member’s generous gift, and for using it to encourage others to step forward and give.

All funds received help support our programs.  Drawing on the expertise of university professors, we develop and update K-12 learning materials with a strong interactive component. To bring these lessons into the classroom, teachers receive instruction in both content and pedagogy, earning professional development credit. Our curriculum is aligned to national standards in English and math, and with the voluntary national standards in economics (which we developed) and personal finance. Economics and finance are threaded into courses in math, history and even children’s literature, and offered at every level, from AP economics in high school to hands-on economics for the youngest learners.

There are always opportunities to assist CEE in reaching more teachers and students. If you would like to support CEE and its programs, make your gift today.

Thank you for supporting our work in economic and financial education of students and teachers.

POSTED: July 8, 2012 | BY: Leslie Rasimas | TAGS: , , , , ,

Financial Illiteracy: Educated Women Too?

Industry Leaders Discuss the Gender Gap in Financial Education

This week, the Council for Economic Education welcomed Ann F. Kaplan, Dr. Annamaria Lusardi and Dr. Mahnaz Mahdavi to our national headquarters to address an important, yet rarely discussed topic: that even highly educated women have low levels of financial literacy.

Speaking before an audience of industry leaders from the financial, philanthropic, legal and non-profit sectors, rising freshmen Heather Pepper and Naomi Gonzalez opened the program by sharing their personal experiences and the first-hand benefits of the financial curriculum they experienced in high school. Then, following opening remarks from CEE’s CEO and President Nan J. Morrison,  the trio of distinguished panelists offered their insights into the issue at hand.

Ms. Kaplan, partner at Circle Wealth Management, dispelled the false yet persistent myth that women don’t invest because they aren’t good at math.  But she also spoke to the need for greater financial education for women, even for those who work in finance.  To paraphrase Ms. Kaplan, understanding complex derivatives doesn’t equip you with the personal finance lessons you need to plan for retirement.

Dr. Lusardi, Professor of Financial Literacy at The George Washington School of Business, noted that a sharp difference exists between men’s and women’s financial knowledge not just here in the United States, but across the globe.  According to Dr. Lusardi, financial literacy is a skill one needs for everything from voting to making the decision to invest in education.  Equipping young women with that knowledge is a crucial way to “make a difference in someone’s life.”

Dr. Mahdavi, Professor of Economics at Smith College, presented a comprehensive study she conducted on the state of financial literacy of educated women based on detailed survey responses from almost 4,400 Smith alumni. One of the most startling findings was the dearth of financial knowledge among women in their 20′s and 30′s: out of the six basic finance questions they were asked, these age groups correctly answered only 35% and 44% respectively. And though literacy tends to increase with age, peaking in the 60′s with a 57% correct response rate, even then it falls short of where it needs to be.

On a positive note, data suggests that a rigorous financial education at an early age could be a way to reverse the trend.  As Ms. Morrison concluded, “if we get to the problem early… [students] can build life along their values by having the tools and knowledge to make the best decisions for them and their communities.

The event was graciously funded by Gerstein Fisher, a financial management firm based in New York City.

womensbfast 300x191 Financial Illiteracy: Educated Women Too?

L-R: Mahnaz Mahdavi, Nan J. Morrison, Dr. Annamaria Lusardi, Ann Kaplan

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

Council for Economic Education Announces $200,000 Challenge Grant

Board Member to match all gifts received through June 30, 2012, up to $200,000

The Council for Economic Education (CEE), the leading organization in the United States that focuses on the economic and financial education of students from kindergarten through high school, announced a Challenge Grant.  Funded by one of CEE’s generous board members, the Challenge Grant will match dollar-for-dollar any gifts received by June 30, 2012, up to $200,000.

donate button Council for Economic Education Announces $200,000 Challenge Grant
“If there’s one lesson we’ve learned from the recent recession and its painful fallout, it’s that an alarming number of Americans lack the most basic dollars-and-cents understanding they need to survive in our global economy,” said President and CEO Nan J. Morrison. “CEE raises funds to support the financial education of future generations, and a challenge grant that will match donations dollar-for-dollar is economics we can all understand.”

CEE is uniquely positioned to help narrow the widening gap between what people know about economics and personal finance, and what they need to know.  Last year CEE trained more than 55,000 teachers, including 5,000 in some of the nation’s lowest-performing high schools; those teachers, in turn, reached 5 million students.  Funds raised through the Challenge Grant will enable CEE to support educators more effectively, including programs for Hispanic Americans, girls and K-5 after school providers.

Join in the effort to make economic and personal finance education a priority in the schools, and help educate young people about the economy they will one day ultimately inherit by donating today to CEE’s Challenge Grant.

POSTED: April 19, 2012 | BY: nan | TAGS: , , , , , ,

CEE Report – Winter 2012

download cee report wi12 CEE Report   Winter 2012Three times a year the Council for Economic Education releases the CEE Report, highlighting our new and noteworthy events, programs and partnerships, including pilot programs and joint ventures with key supporters.

“Early training in economics and financial literacy will go a long way towards the creation of a stable society in the future.”
- Henry Kaufman, President of Henry Kaufman & Company, and renowned economist and author

Read more…

POSTED: February 29, 2012 | BY: kwilliams | TAGS: , , , , , ,

Resources

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