James B. O’Neill, director of the University of Delaware’s Center for Economic Education & Entrepreneurship, shared his views on the importance of financial literacy and how we can avoid the ‘personal cliff.’
In his piece for Delaware Online, O’Neill says that many adults “are faced with credit issues starting with simple goods and services and moving to the larger purchases of automobiles and homes.” Read more…
Economics Arkansas, an affiliate of the CEE network, has been named a finalist for the 25th Annual Arkansas Business of the Year Awards in the Nonprofit Organization by the Arkansas Business Publishing Group.
The nomination comes on the heels of their 50th Anniversary—a milestone organization reached thanks to the contributions of the many educators, board members, volunteers, friends, communities and representatives from business, commerce, civics, labor and agriculture who have supported their efforts since 1962.
The nomination honors Economics Arkansas‘ mission to promote economic literacy in Arkansas.
Winners will be announced at an awards banquet on Tuesday, February 26, at the Statehouse Convention Center in Little Rock, AR. You can read the full news release here.
Learn more about Economics Arkansas in this video:
It might not always feel like it, but Cincinnati’s economy is going through something of a renaissance. In fact, you can expect it to grow at a faster clip than the nation’s economy does this year.
That’s what Julie Heath, director of the University of Cincinnati’s EconomicsCenter, told a crowd Tuesday night at the 13th annual Economic Forecast sponsored by the Institute for Supply Management – Cincinnati and the Association for Operations Management. And if she’s right, it’ll make three years in a row that the local economy has outpaced the nation’s. That follows a decade-long stretch of slower local growth.
Read the full article at the Cincinnati Business Courier.
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.
Capstone Course of Financial Literacy Framework Equips Students With Necessary Real-World Skills
For many years, Illinois has placed a high priority on the financial literacy of its students, as one of the first states to implement rigorous economic and personal finance standards. This semester, its largest city continues to raise the bar for school systems nationwide: Chicago Public Schools (CPS) introduces a dedicated personal finance course for 12th-graders with resources developed by the Council for Economic Education (CEE). Read more…
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.
Annamaria Lusardi is the Denit Trust professor of economics and accountancy at the George Washington School of Business.
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