CEE Board

Featured CEE Affiliate – EconomicsPennsylvania

EconomicsPennsylvania (EconPA), with continued collaboration from the local Centers for Economic Education, trained over 500 teachers in 2012, and will continue outreach efforts in 2013.

New partnerships are leading the way for increased outreach to the state’s students. EconPA and Bloomsburg University launched the inaugural Youth Entrepreneurial Experience Camp last year. Thirty-one students from across the state engaged in a 3-day intensive program to learn about business and entrepreneurial skills in a competition.  The camp was an all-expense paid venture for the students, and the top performers received a year of start-up capital and support; both winners have launched their ventures.

EconPA also partnered with the Federal Reserve Bank of Cleveland to host Youth Entrepreneurial Challenge Days, as well as hosting a Day of Learning with Lincoln Financial and Temple University’s Fox Business School for Title I Schools in Philadelphia.

Local students received attention as Pennsylvania was home to the first
place national team in the 2012 Capitol Hill Challenge, Lewisburg High
School, which dedicates much of their staff and resources to participating
in the various programs that EconPA offers (photo below).

A major success of EconPA stems from the network of Centers located at universities, school district offices, business corporate centers and local banks for program delivery—ensuring trainers are at ground level to train educators. EconPA continues to raise the stakes for economic and personal finance requirements by working with state legislatures and education specialists such as Michael MacDowell, Managing Director of the Calvin K. Kazanjian Economics Foundation and CEE Board member, who was asked by PA Governor Corbett to serve on a task force on post-secondary education.

EconPA was featured in CEE’s Winter 2013 CEE Report; download the newsletter to learn more about their efforts with students and teachers.

economicspennsylvania Featured CEE Affiliate   EconomicsPennsylvania

2012 Capitol Hill Challenge winners (l-r) Brett Clark Lewisburg High School student; Mark
DiRocco, Lewisburg Area School District Superintendent; Daniel Cole, Lewisburg High School student.

POSTED: January 24, 2013 | BY: admin | TAGS: , , , , ,

CEE Board Member Jeffrey M. Lacker in the New York Times: Testing the Limits of the Fed

Jeffrey M. Lacker, CEE board member and president of the Federal Reserve Bank of Richmond, is featured in today’s New York Times. He doesn’t hide his opinion that the Fed is “limited” in its power to stimulate the economy, and “that just throwing money at the economy is unlikely to solve the problems that are keeping a 55-year-old furniture worker from finding a good competitive job.”

Gary H. Stern, former president Federal Reserve Bank of Minneapolis and also a current member of CEE’s board, is also quoted in the story.

“If you have a forceful and compelling rationale, I think that is constructive internally and externally,” Stern said. “I think the Fed obviously has been in my opinion dealt a difficult hand. To some extent the waters are uncharted. It would be in a way remarkable if you had unanimity under these circumstances and I think Jeff’s concerns about what the Fed can accomplish in this environment and what the risks on the inflation side may be, I think that those points need to be taken seriously.”

You can read the full article here.

POSTED: January 9, 2013 | BY: admin | TAGS: , ,

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: admin | 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: admin | 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: admin | 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: admin | TAGS: , , , ,

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