Federal Reserve

Council for Economic Education to Host 500+ Attendees at Annual Conference 

DALLAS, TX (September 23, 2014) – The U.S. ranks square in the middle of the pack and far below expectations in financial literacy, according to recently released data from the OECD Programme for International Student Assessment (PISA). But fortunately, there are a growing number of educators, organizations and experts who are working to raise the bar for financial literacy education—and many of them will convene in Dallas next month for the 53rd Annual Financial and Economic Literacy Conference. Read more…

POSTED: September 23, 2014 | BY: Daniel Thompson | TAGS: Alan B. Krueger, Annual Teacher’s Conference, dallas, Economic Literacy, Economics, Federal Reserve, Financial Literacy, Kelli Grant, Personal Finance, Richard W. Fisher

Last month in Chicago, the Council for Economic Education held the third of our Spring series of policy luncheons on “Building the Financial Literacy of Illinois Students.” Two panel discussions addressed two topics: first, the role of public-private partnerships in advancing financial literacy education; second, financial literacy success stories from Chicago Public Schools.

Moderator Gail MarksJarvis of the Chicago Tribune opened by addressing the importance of teaching the grammar of financial literacy through an early education: “The financial industry knows financial information inside and out, but because of this, they have a hard time speaking English. People think these financial experts know some secret. There is no secret.” State Senator Tom Cullerton concurred, noting that “The earlier we can teach people financial literacy, the better off they can be,” and pointing out the critical role of our educators: “You have to have the teachers educated to this and passionate about sharing this with our kids.” Read more…

POSTED: July 17, 2014 | BY: admin | TAGS: Ariel Community School, Building the Financial Literacy of Illinois Students, Chicago, Chicago Public Schools, Chicago Tribune, Dr. Lennette Coleman, Econ Illinois, Economic Education, Economics, Education, Federal Reserve, Federal Reserve Bank of Chicago, Financial Education, Financial Literacy, Gail MarksJarvis, Illinois, Lori Berkes-Nelson, Personal Finance, Tom Cullerton

Florida to Implement New Framework for Teaching Personal Finance in Schools

NEW YORK, June 30th, 2014 – This week, the Florida State Board of Education announced the adoption of the Council for Economic Education’s (CEE) K-12 National Standards for Financial Literacy, leading the nationand raising the bar for financial literacy education in the state. Designed to help students learn to make thoughtful, deliberate choices as consumers, savers, investors and informed citizens, the National Standards teach more than just the facts; students understand how their personal situations and preferences affect their financial decision making, while beginning to understand the trade-offs inherent in every choice they make. Florida is the first state in the nation to adopt CEE’s National Standards.

Upon careful review, the Florida Board of Education determined that these Standards were appropriate to be adopted as part of the Next Generation Sunshine State Standards for Social Studies. From the Florida State Board of Education’s official agenda notes:

The [National Standards] are specific and measurable. They are organized in the same format as the existing strands of the NGSSS for Social Studies. In addition to the appropriate concepts specific to the content, the standards also address literacy, mathematics, problem solving, creativity, cross-cultural understanding and 21st century skills. We acknowledge the work of the Council for Economic Education that allows for Florida to adopt existing standards that require students to reach for excellence.

The National Standards were developed by a team of experienced and talented economists, education specialists at Federal Reserve banks, and financial education researchers, to create a framework for the body of knowledge and skills that should be contained in a K-12 personal finance curriculum. The standards contain the six areas of knowledge and understanding that are fundamental to personal finance: Earning Income; Buying Goods and Services; Using Credit; Saving; Financial Investing; and Protecting and Insuring. Each standard emphasizes decision-making skills by explicitly relating planning and goal setting, financial decision-making, and assessing outcomes to each standard. In the end, more informed choices lead to better choices as well as greater satisfaction with the choices that are made.

Written in accessible, easily understandable terminology, the standards are not tethered to any specific curriculum, do not assume any prior financial knowledge, and are designed to be applicable to all socio-economic groups. These standards provide the basis of student assessment, for curriculum development, and for the development and correlation of personal finance to existing and new lessons and other teaching materials. Funding for the standards was made possible by First Financial Bank USA.

Adoption of these standards further lays the groundwork for a standalone high school course in financial literacy in Florida.  For the past three years the Florida Council for Economic Education has been working with state legislators and other government, business, and education leaders to “Require the Money Course.”

“If all Florida students leave school equipped with a solid standards-based personal finance course, supported by teacher training and course assessment, the next generation of Floridians will have the tools they need to manage their money, the knowledge necessary to achieve their financial goals from college to retirement, and the ability to be productive employees and contributors to the state’s economy,” said Michael L. Bell, Executive Director, Florida Council on Economic Education.

“We are thrilled that Florida has adopted our National Standards for Financial Literacy, leading the nation in their commitment to K-12 personal finance education,” said Nan J. Morrison, CEO and President, Council for Economic Education. “By implementing these Standards, Florida schools ensure that their students learn the critical skills they need, not only to make sound financial decisions but to make smart choices in all aspects of their lives.”

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 – and we have been doing so for 65 years. We carry out our mission by educating the educators: providing the curriculum tools, the pedagogical support, and the community of peers that instruct, inspire, and guide. All resources and programs are developed by educators, and delivered by our national network of affiliates. Our goal is to reach and teach every child. Each year CEE’s programs reach more than 55,000 K-12 teachers and over 5 million students across the United States. For further information about the Council for Economic Education go to: http://councilforeconed.org.

About the Florida Council on Economic Education

The mission of the Florida Council on Economic Education is to prepare Florida’s young people for personal and financial success through educational programs in economics, the free enterprise system and personal financial literacy so that they become productive members of the workforce, responsible consumers and wise investors. An affiliate of the Council for Economic Education, The FCEE supports five Centers for Economic Education that train k-12 teachers in economics, entrepreneurship, personal finance and the free enterprise system. For further information about the FCEE go to: http://www.fcee.org.

POSTED: July 1, 2014 | BY: admin | TAGS: CEE, Council For Economic Education, Economics, FCEE, Federal Reserve, First Financial Bank USA, Florida, Florida Council on Economic Education, Florida State Board of Education, k-12, National Standards for Financial Literacy, Next Generation Sunshine State Standards for Social Studies, Personal Finance

Hands-On Sessions and Valuable Networking Opportunities for K-12 Educators

DALLAS, TX (June 25, 2014) This October, the Council for Economic Education will convene over 500 K-12 educators, industry thought leaders, and local affiliate, Federal Reserve and other partners from across the country for the 53rd Annual Financial and Economic Literacy Conference in Dallas, Texas. With networking events and over 100 hands-on training sessions, teachers can attest to the conference’s invaluable benefits: 96% of 2013 attendees reported that they are still using information or resources they gained at the conference; and 100% of attendees would recommend CEE’s Annual Conference to a colleague. And what’s more, by attending, teachers will earn certificates of completion that may be applied toward CEU requirements.

Annual Conference sessions are designed to help teachers incorporate economic and financial literacy in the classroom, offering an incredible opportunity to share and exchange ideas. A few highlights:

• Using the National Standards to Connect Economics Across the Curriculum
• Economics in Literature – A Common Core Application
• Using Technology to Bridge Concepts Across Economic Curriculum
• Teach Economics and STEM Concepts through Children’s Literature
• Teaching Personal Finance by Color: Engaging Students and Encouraging Self-Evaluation

Additionally, special roundtable sessions led by master teachers offer an opportunity to share best practices at the elementary, middle and high school levels.

This year’s distinguished guest speakers include  Richard W. Fisher (invited), President and Chief Executive Officer, Federal Reserve Bank of Dallas; Sharon Epperson, CNBC Senior Energy and Personal Finance Correspondent and frequent contributor to Today and NBC Nightly News; and Professor Alan B. Krueger, Bendheim Professor of Economics and Public Affairs at Princeton University. Professor Krueger served as Chairman of President Barack Obama’s Council of Economic Advisers and a Member of his Cabinet from November 2011 to August 2013.

The 53rd Annual Financial and Economic Literacy Conference will be held October 8 – 11 at the Renaissance Dallas Hotel in Dallas, Texas.

For more information about the Annual Conference and to register please visit: https://www.councilforeconed.org/events/cee-national-conference/

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 – and we have been doing so for 65 years. We carry out our mission by educating the educators: providing the curriculum tools, the pedagogical support, and the community of peers that instruct, inspire, and guide. All resources and programs are developed by educators, and delivered by our national network of affiliates. Our goal is to reach and teach every child. Each year CEE’s programs reach more than 55,000 K-12 teachers and over 5 million students across the United States. For further information about the Council for Economic Education go to: http://councilforeconed.org.

POSTED: June 30, 2014 | BY: admin | TAGS: Alan B. Krueger, Annual Conference, CEE, Center for Economic Education and Entrepreneurship, CNBC, Dallas Fed, Economics, Education, Federal Reserve, Sharon Epperson, Teaching, Today and NBC Nightly News

Next week, the Council for Economic Education will hold its 52nd Annual National Financial Literacy and Economic Education Conference in Baltimore, MD, October 3-5, convening leaders, experts and teachers to exchange ideas and discuss the key issues in financial education today.  Joining them are Richard Cordray, director of the Consumer Financial Protection Bureau (CFPB), Richard G. Ketchum, chairman and CEO of the Financial Industry Regulatory Authority, Inc. (FINRA) and Jeffrey M. Lacker, president of the Federal Reserve Bank of Richmond, all of whom will be speaking at the Conference. noted financial literacy expert, George Washington University professor and CEE board member, Dr. Annamaria Lusardi, will also be presenting at this year’s Conference.

Over 500 educators, industry thought-leaders and Federal Reserve partners from around the country are expected to attend the conference. Participants will come together to address the most important issues, trends and challenges in financial and economic education. The event is made possible by the generous sponsorship of Wells Fargo (Lead Sponsor), Bank of America (Teacher Champion), and the Maryland Council on Economic Education.

“This conference is a unique opportunity for educators to enhance their ability to incorporate financial literacy in the classroom, and to do so while meeting the new Common Core State Standards, and engage with the industry’s most influential leaders on the most pressing issues,” said Nan Morrison, CEO and President, Council for Economic Education.  “We are thrilled to be able to welcome President Lacker, Director Cordray, Chairman & CEO Ketchum and Dr. Lusardi, offering educators the chance to learn from their insights and engage them in dialogue.“

Attendees will also be able to participate in workshops and events featuring best practices and new developments in curriculum, teaching strategies and instructional materials. There will also be networking opportunities and teacher roundtable discussions during which participants can engage with their peers to share ideas and lessons, as well as discuss challenges and innovations.

For additional details, visit https://www.councilforeconed.org/events/cee-national-conference/.

POSTED: September 25, 2013 | BY: Annamarie Cerreta | TAGS: Annual Conference, CFPB, Councils & Centers, Federal Reserve, Federal Reserve Bank of Richmond, FINRA, Jeffrey Lacker, Richard Cordray, Richard Ketchum, Teachers, Teaching Awards

The Philadelphia Inquirer recently highlighted top organizations that are leading the way when it comes to teaching our nation’s children about personal finance, despite the experts that imply the country is not doing a good job teaching financial literacy skills.

CEE, The Federal Reserve Bank of Philadelphia and the President’s Advisory Council on Financial Capability’s Money as Your Grow website were highlighted for their proactive approaches to improving financial literacy among the youth.

Read the full article here.

POSTED: May 29, 2013 | BY: admin | TAGS: Federal Reserve, Financial Literacy, Lessons, Partners, Personal Finance, Students, Survey of the States