We’re broadcasting live from Tisch WNET Studios at Lincoln Center for the 13th Annual National Economics Challenge!

Watch the Quiz Bowl Finals in the David Ricardo and Adam Smith Divisions.

Click here to watch the Quiz Bowl Finals!

TWEET YOUR SUPPORT

Follow the Council for Economic Education on Twitter @council4econed. Get in on the action by using the hashtag #CEE to root for your team and share your thoughts as the quiz bowl unfolds.

VOTE FOR THE BEST TEAM VIDEO

Learn more about our amazing Finalist teams! Watch their video portraits that convey who they are as economics scholars, and vote once per day for your favorite video. 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.

Voting ends May 21 at 11:59 pm ET. Video contest has no influence on National Economics Challenge judging.

POSTED: May 19, 2013 | BY: Leslie Rasimas | TAGS: 9-12, Awards, economics, economics challenge, parents, Students, teachers, video

By Andrew Hill, Economic Education Advisor at the Federal Reserve Bank of Philadelphia; and Adjunct Professor of Economics at Temple University.

Cocktail party conversation can often be difficult for even the most adept conversationalists among us. When meeting new people, an unavoidable topic is always what you do for a living. I was trained in graduate school to expect people to respond in unpredictable ways when I explain that I am an economist. Read more…

POSTED: April 30, 2013 | BY: Leslie Rasimas | TAGS: Councils & Centers, economics, Federal Reserve, Financial Literacy, financial literacy month, parents, partners, personal finance, Students, teachers

By Michael Staten, Take Charge America Endowed Chair; Director, Take Charge America Institute, University of Arizona.

Kudos to CEE for devoting their blog space this month to many different voices making the case for financial education. I share the dilemma of every end-of-program speaker struggling to find something new to say. So, in these waning days of Financial Literacy Month, let me offer a few additional thoughts in support of school-based financial education for grades K-12.

Research has shown that the largest single determinant of money attitudes in teenagers and young adults is their parents, and the home environment in which they grow up.  But, that influence can be positive or negative. If we treat financial education as solely the responsibility of parents, then we admit that young people will not start their adult lives on a level playing field. Read more…

POSTED: April 25, 2013 | BY: Leslie Rasimas | TAGS: Financial Literacy, financial literacy month, higher education, parents, personal finance, Students

By Nancy Phillips, BS, EMBA, Author and Speaker; Founder & President, DollarSmartKids Enterprises, Inc.; Creator of the Zela Wela Kids. Nancy is the mother of two elementary school-aged children.

As parents, we are automatic educators, and we want our children to learn the skills they’ll need to thrive and reach their full potential in life. This is true for parents around the world. With the financial industry and global culture changing as rapidly as they are today, it’s easy to see that our children need guidance; current, effective, honest information, that has their best interest and future well-being at heart.

The Lessons Must Have These Key Elements

These core financial life lessons must involve a combination of information, beginning with inspirational and motivational messages, so children understand how the information can affect their individual lives. The messages must also be simple, and effective – so the lessons are implemented and become habit. Beneficial learning only occurs if the new information is implemented, thus creating positive decision-making skills and behavior. Read more…

POSTED: April 23, 2013 | BY: Leslie Rasimas | TAGS: children, Financial Literacy, financial literacy month, give, invest, parents, personal finance, save, Saving, spend, Students

By Christian Ackmann, Economics concentrator at Brown University; Winner of the 2012 National Personal Finance Challenge.

You would be surprised to know the number of college students who don’t know how build their credit history, view their account balances, or even write a check.  College is usually the first time that students acquire independence, yet some students remain dependent on their parents’ financial support and advice.  Proper financial education in high school is necessary to gain financial independence in college.  During my first year of college, I have seen many financial mistakes made by my fellow students.  Here are some of the things I believe every college student should know about personal finance to make intelligent financial decisions.

1.  Credit
When I asked my fellow classmates which financial topics they wished they knew more about, the unanimous answer was credit.  For many college students, credit cards are a thing of mystery.  They are magical pieces of plastic that somehow pay for pizza and gasoline using money from their parents.  The first step to establishing a solid credit history is understanding how credit works.  Once students understand the importance of credit, it can be very helpful to have a credit card in the student’s name (not the parent’s name) to encourage responsibility.  Paying the credit card bill in full each month is an easy way to build a good credit history, not to mention the perks that many cards offer, such as cash back or air miles (which are especially applicable to college students living away from home). Read more…

POSTED: April 20, 2013 | BY: Leslie Rasimas | TAGS: College, credit, Credit Cards, currency exchange, Financial Aid, Financial Literacy, financial literacy month, online banking, parents, personal finance, Saving, Student Loans, Students, taxes

By State Treasurer of Mississippi Lynn Fitch.

On my way to make a speech recently, I made a quick stop at a local convenience store to grab a diet coke.  “That will be $2.28,” the young girl smiled.  As I handed her three $1 bills, the cash register chirped and the drawer popped open.  She reached for my change. “Oh wait,” I said, “I have three pennies.”  Her pleasant smile quickly faded and was replaced with a blank stare into the cash drawer. “Um…..hmmm…..uh…..so…..I’m not sure what to do,” she said in a confused, sheepish tone.

It’s unfortunate that many of our young people can’t count change or do the math.  We must give them the financial skill set and tools to succeed in life so they don’t have to learn the hard way.  We must create financial freedom for our children. Read more…

POSTED: April 4, 2013 | BY: Leslie Rasimas | TAGS: Financial Literacy, financial literacy month, parents, personal finance, Research, Saving, Students, Survey of the States