The Importance of Economic Education 

The webinar began with a discussion on the critical role of economic education in shaping the financial futures of young people. Dr. Davidson emphasized that economics is fundamentally about decision-making and understanding scarcity. She explained, “Economics, at its core, is all about decision making. It’s about the fact that scarcity exists. We can’t have everything we want and we have to make choices”. This knowledge and the tools to analyze and make decisions smartly is essential for students to navigate their personal and professional lives effectively. 

Dr. Hill highlighted the Federal Reserve’s long-standing commitment to economic education, which dates back to the 1970s. He noted that understanding how the economy works, and the role of the Federal Reserve can help individuals make better decisions, ultimately leading to a more stable and prosperous economy.  

The State of Economic and Personal Finance Education 

Ms. Patterson provided an overview of the current landscape of economic and personal finance education in the U.S. She shared that 28 states require at least one course in economics to graduate, and 35 states require at least one course in personal finance. Despite this progress, there is still much work to be done to ensure that all students actually receive this essential education and when they do, that it is from a teacher who is qualified and trained in the subject. 

Dr. Davidson and Dr. Hill discussed the challenges of implementing these requirements at the state level. They noted that education standards are often reevaluated every 5 to 10 years, and the process can be slow and complex. However, they stressed the importance of continued advocacy and collaboration to expand access to economic and personal finance education. 

The Multiplier Effect of Teaching Teachers 

One of the key themes of the webinar was the multiplier effect of teaching teachers. Dr. Hill explained “If you work with a teacher and you spend hours or a day training a teacher, those teachers are then, for the rest of their career going to share those lessons and experiences with their own students for many years to come” This approach ensures a high return on investment and helps reach a larger number of students. 

Dr. Davidson shared her experience in Nebraska, where teachers are now required to take more credit hours in economics as part of their certification. She emphasized the importance of providing ongoing professional development for teachers to keep them engaged and effective in the classroom. 

Collaboration and Innovation in Economic Education 

The webinar also highlighted the importance of collaboration among various organizations involved in economic education. Dr. Hill mentioned the long-standing partnership between the Federal Reserve and CEE, which has resulted in numerous successful programs and initiatives. Dr. Davidson added that state councils and centers for economic education play a crucial role in supporting teachers and students at the local level. 

Ms. Patterson shared examples of innovative programs, such as the National Economics Challenge and the National Personal Finance Challenge, which engage students in competitive and interactive learning experiences. These programs not only enhance students’ understanding of economics and personal finance but also provide valuable skills for their future careers. 

Ms. Patterson also emphasized the broader impact of economic education, stating, “Ensuring that students have a foundational understanding of economics is a critical building block for them to have healthy financial lives. And it doesn’t stop just at those individuals who are reached, but also their families, their communities. And when we think about that in aggregate, that’s how we get a stronger economy and a more stable financial system” 

Conclusion 

The CEE webinar underscored the vital importance of economic education in preparing young people for their futures. By continuing to advocate for these subjects, supporting teachers, and fostering collaboration, we can ensure that all students have the knowledge and skills they need to make informed financial decisions. As Dr. Davidson aptly put it, “Economics is a superpower for understanding the world around you” 

Updated National K-12 Economics Standards are coming this June! 

The Voluntary National Content Standards offer economics content standards. Each standard is an essential principle of economics that an economically literate student should know and a statement of what the student should be able to do with that knowledge at grades 4, 8, and upon graduating from high school.  

Sign up to receive your copy this summer:

A Few Statistics on Economic Education 

• Taking more economics is significantly related to higher levels of earning, home equity, and savings.  

• Research indicates that 6 in 10 teachers earned no course credits in economics during their undergraduate studies. Of teachers certified to teach social studies, 40% did not take an undergraduate course in economics. 

Watch the Event Recording

About the Council for Economic Education

The Council for Economic Education’s (CEE’s) mission is to equip K–12 students with the tools and knowledge of personal finance and economics so that they can make better decisions for themselves, their families, and their communities, and learn to successfully navigate in our ever-changing economy. We carry out our mission in three ways.  We advocate to require financial and economic education in every state. We provide training, tools and resources – online and live through over 180 affiliates nationwide – to more than 40,000 teachers annually who in turn bring the highest quality economics and personal finance instruction to over 4 million students. We deepen knowledge and introduce high school students to critical career capabilities through our national competitions and Invest in Girls program.

Media contact: 

CEE: press@councilforeconed.org 

The post Inspiring the Next Generation: Insights from the CEE Webinar on Building Economic Literacy  appeared first on Council for Economic Education.

The CEE National Economics Challenge will be featured as part of the five-day WYF-FELS summit, being held in Hong Kong August 6-10. WYF-FELS cultivates and celebrates economic education, cultural diversity and individual development among youth globally. The summit and student competition are designed to lead to an improved, globalized education landscape where we can enlighten, enrich and empower future generations.

According to Nan J. Morrison, President and CEO of the Council for Economic Education, “Economics provides a powerful lens to understand how the world works and how to navigate within it. Participating in the WYF-FELS and the NEC not only builds economic knowledge, but enables students to gain skill in teamwork, presentation, and critical thinking, and to establish a network of like-minded global peers.”

You may be able to become a part of this inaugural summit, with over 300 students from across the globe!

Are you a corporate leader with offices in Hong Kong? You too could be part of the Summit by hosting a company visit.

Where: Hong Kong 

When: August 8, 2-2.5hrs in the morning or afternoon 

What: Discussion with senior and junior staff about your organization, roles in the organization and tour of operations. Suggested agendas provided. 

Who: 12-15 high school students who have an interest in and knowledge of economics and world affairs 

Please contact our partner: ling@cp21.org if you would like to host these amazing students! 

About the Council for Economic Education

The Council for Economic Education’s (CEE’s) mission is to equip K–12 students with the tools and knowledge of personal finance and economics so that they can make better decisions for themselves, their families, and their communities, and learn to successfully navigate in our ever-changing economy. We carry out our mission in three ways.  We advocate to require financial and economic education in every state. We provide training, tools and resources – online and live through over 180 affiliates nationwide – to more than 40,000 teachers annually who in turn bring the highest quality economics and personal finance instruction to over 4 million students. We deepen knowledge and introduce high school students to critical career capabilities through our national competitions and Invest in Girls program.

Media contact: 

CEE: press@councilforeconed.org 

The post CEE’s National Economics Challenge is Going Global! appeared first on Council for Economic Education.

What are two actions that the Federal Reserve might take to combat inflation? 

If the average cost of producing four cars is $20,000 and the average cost of producing five cars is $22,000, what is the marginal cost of producing the fifth car? 

Racing to answer more than 20 rapid-fire questions like those in just 20 seconds per question, high school students from around the country competed near the heart of Wall Street to earn honors as best in America in the Council for Economic Education’s 2024 National Economics Challenge (NEC). 

And they made it look easy. 

Capping a school year during which nearly 8,000 students competed across the USA, teams from Mt. Hebron High School in Ellicott City, Maryland, swept the final competition in New York with first-place finishes in both of the NEC’s divisions for advanced and for first-time competitors. It’s the seventh straight NEC competition in which the Howard County public school emerged as a national champion or finalist. 

Students from Phillips Exeter Academy (Exeter, New Hampshire), BASIS Mesa (Mesa, Arizona) and Novi High School (Novi, Michigan) finished second, third and fourth in the Adam Smith advanced division. Teams from Hunter College High School (New York, NY), Cranbrook Kingswood Upper School (Bloomfield Hills, Michigan) and Lambert High School (Suwanee, Georgia) were runners-up in the David Ricardo division. 

Members of each team were allowed to confer for only seconds before jotting down responses for expert judges to instantly review. The serious but fun competition is designed to encourage a deep understanding of economics through both a case study round and the final quiz round. 

“The analytic and problem-solving skills built by studying economics can be applied to issues of our day that are relevant to our students, today and in their futures,” said Nan J. Morrison, CEE president and chief executive officer. 

But only half the states require a course in economics, according to CEE’s 2024 Survey of the States. 

“Requiring economics and personal finance courses in all high schools gives every student the real-world skills they need to create fulfilling lives on their own terms,” Morrison added. 

“We congratulate and thank the students, teachers and our CEE affiliates around the country for making economics education available and exciting through the National Economics Challenge and each and every classroom,” she said. 

The winners of the 2024 NEC Adam Smith Division: 

First place: Mt. Hebron High School in Ellicott City, Maryland

• Praneeth Idamakanti, Nandhu Manoj Pillai, Mehin Pandya, Diego Salamanca Murphy 

• Coach: Vann Prime 

Second place: Phillips Exeter Academy in Exeter, New Hampshire

• Steven Chen, Dhruv Nagarajan, Tanay Nandan, Eli Orbach 

• Coach: Aykut Kilinc 

Third place: BASIS Mesa in Mesa, Arizona

• Elias Chang, Vinesh Kothari, Ximo Liu, Daniel Yang 

• Coach: Greg Thorson 

Fourth place: Novi High School in Novi, Michigan

• Harsh Ahire, Lalitaditya Akkaraju Arvind Salem, Ishaan Sid 

• Coach: Darcie Moss 

The top teams in this year’s NEC David Ricardo Division: 

First place: Mt. Hebron High School in Ellicott City, Maryland

• Joseph Jeong, Aarush Kejriwal, Vishva Rao, Nick Venginickal 

• Coach: Vann Prime 

Second place: Hunter College High School in New York, NY

• Xiayang Huang, Winnie Mok, Joseph Ponda, Alexie Varah 

• Coach: Ellen Fox 

Third place: Cranbrook Kingswood Upper School in Bloomfield Hills, Michigan

• Toluwani Adebayo, Pingkang Qian, Junho Seo, Alexander Wang 

• Coach: Christopher Schotten 

Fourth place: Lambert High School in Suwanee, Georgia

• Arhan Barve, Shlok Bhatt, Shivam Gupta. Balaskanda Sivanandame 

• Coach: Rupal Gupta 

In subsequent international rounds, the Mt. Hebron teams also outscored China’s championship Shanghai Pinghe School team in their David Ricardo division and Shanghai Starriver Bilingual School in their Adam Smith division. 

All members of the winning teams are awarded cash prizes. CNBC senior economics reporter Steve Liesman asked the questions and moderated the final rounds for both divisions which were televised live and online on CNBC. 

About the Council for Economic Education

The Council for Economic Education’s (CEE’s) mission is to equip K–12 students with the tools and knowledge of personal finance and economics so that they can make better decisions for themselves, their families, and their communities, and learn to successfully navigate in our ever-changing economy. We carry out our mission in three ways.  We advocate to require financial and economic education in every state. We provide training, tools and resources – online and live through over 180 affiliates nationwide – to more than 40,000 teachers annually who in turn bring the highest quality economics and personal finance instruction to over 4 million students. We deepen knowledge and introduce high school students to critical career capabilities through our national competitions and Invest in Girls program.

Media contact: 

CEE: press@councilforeconed.org 

The post National Economics Challenge Winners 2024 appeared first on Council for Economic Education.

Teams from Maryland, Minnesota, New Jersey and Georgia were named best in the U.S. after rising to the top in a series of statewide and then national academic championships. In all, nearly 15,000 students showcased mastery of the key building blocks of personal economic success including: earning, spending, saving, investing, and managing risk.

At the NPFC final championships, held at the Federal Reserve Bank of Cleveland, semifinalists were tasked with quickly creating family financial plans, a challenge that required not only knowledge but also critical thinking. The top 16 teams then advanced to the intense “quiz bowl” lightning round where they further showcased their financial acumen. In the end, students from Severn School in Severna Park, Maryland, scored top honors. Teams from Mounds View High School of Minnesota, the Middlesex County Academy for Science, Mathematics and Engineering Technologies of New Jersey and Dunwoody High School of Georgia earned recognition as first, second and third runners-up.

“With a foundational understanding of personal finance, young people have the tools they need to make informed financial decisions and create a better life, not only for themselves but also for their families and their communities,” said Nan J. Morrison, CEE’s president and chief executive officer. “High school students who compete in the NPFC not only deepen their personal finance knowledge, but they also develop essential career skills – critical thinking, teamwork, and presentation skills.”

A total of 35 states have moved to require personal finance courses, according to CEE’s biennial Survey of the States. The drive to provide financial education to all students in all high schools has gained momentum among parents, state legislators, education policymakers and students, but, Morrison noted, “too many kids are still left to figure out money and personal finance all by themselves. Our goal is to change that and create equitable access.”

“With a special tip of the hat to our top-scoring teams, we congratulate all the students and teachers who competed in the National Personal Finance Challenge,” Morrison added.

This year, as part of its mission to make secure financial futures possible, Voya Financial and Voya Foundation once again supported CEE’s National Personal Finance Challenge.

“Every student competing at CEE’s National Personal Finance Challenge demonstrated remarkable knowledge that will help them to successfully navigate the financial milestones they will encounter throughout their lives,” said Heather Lavallee, Voya Financial chief executive officer and CEE board member. “At Voya, we know that the benefits of financial literacy are not exclusive to any one career path, and that’s why we’re committed to working with organizations like CEE to enable all young people to study personal finance, maximize their potential, and have the best opportunity to lead financially secure lives.”

Winning schools, team members and teachers in the 2024 NPFC national finals are:

THANK YOU TO OUR 2024 SPONSOR

About Voya Financial^®

Voya Financial, Inc. (NYSE: VOYA), is a leading health, wealth and investment company with 7,200 employees who are focused on achieving Voya’s aspirational vision: Clearing your path to financial confidence and a more fulfilling life. Through products, solutions and technologies, Voya helps its 14.7 million individual, workplace and institutional clients become well planned, well invested and well protected. Benefitfocus, a Voya company, extends the reach of Voya’s workplace benefits and savings offerings by providing benefits administration capabilities to 16.5 million individual subscription employees across employer and health plan clients. Certified as a “Great Place to Work” by the Great Place to Work® Institute, Voya is purpose-driven and equally committed to conducting business in a way that is socially, environmentally, economically and ethically responsible. Voya has earned recognition as: one of the World’s Most Ethical Companies® by the Ethisphere Institute; a member of the Bloomberg Gender-Equality Index; and a “Best Place to Work for Disability Inclusion” on the Disability Equality Index. For more information, visit voya.com. Follow Voya Financial on Facebook, Instagram, LinkedIn and X (Twitter).

About the Council for Economic Education

The Council for Economic Education’s (CEE’s) mission is to equip K–12 students with the tools and knowledge of personal finance and economics so that they can make better decisions for themselves, their families, and their communities, and learn to successfully navigate in our ever-changing economy. We carry out our mission in three ways.  We advocate to require financial and economic education in every state. We provide training, tools and resources – online and live through over 180 affiliates nationwide – to more than 40,000 teachers annually who in turn bring the highest quality economics and personal finance instruction to over 4 million students. We deepen knowledge and introduce high school students to critical career capabilities through our national competitions and Invest in Girls program.

Media contact: 

CEE: press@councilforeconed.org 

The post National Personal Finance Challenge Winners 2024 appeared first on Council for Economic Education.

The evening started with a festive cocktail hour and live music from Steve Liesman, Nate DeBrine, and Clare Maloney. Attendees were used to seeing Steve on their TV screens as CNBC’s Senior Economics Reporter and enjoyed seeing him rock the room! 

CEE President and CEO, Nan Morrison, and CEE Board Chair, Rebecca Patterson, kicked off the evening’s program connecting meaningful moments in recent history with the evolution of CEE. Looking to the future, they announced our $7.5M for 75 Years Campaign to continue and expand CEE’s important work. 

The program quickly turned its attention to teachers with the presentation of the 2024 Alfred P. Sloan Foundation Teaching Champion Awards, which recognizes excellence in high school economic educators for the New York Metropolitan area. This year’s winners are: 

• Halle Amore Bauer, High School Economics and Modern World History Teacher, Ethical Culture Fieldston School, Bronx, NY 
• Diana Isern, High School Personal Finance and Investments Teacher, Brooklyn Preparatory High School, Brooklyn, NY 
• Marta Lieberman, 12th grade Economics/Government and AP Economics Teacher, Francis Lewis High School, Fresh Meadows, NY 

Halle Amore Bauer shared, “I want students to leave my class knowing that economics is a tool that can be used to create a more just world. A strong understanding of economic concepts like incentives, tradeoffs, and sustainability can empower students to make choices that benefit not only themselves, but humanity.” 

Attendees also enjoyed hearing from students who have participated in CEE programs: Laura Adomaa, Invest in Girls student from the Frederick Douglass Academy; Victor Robila, New York State Personal Finance Challenge winner from Hunter College High School; and Lorelei Loraine, National Economics Challenge champion presently at Columbia University. These students are wonderful examples of the impact CEE programs has on the lives of students and gave many of us hope for a thoughtful and productive next generation. 

As part of our 75^th anniversary celebration, we had a special on-stage appearance from Jay Lanstein, who was on the winning team of the inaugural National Economics Challenge, held in 2001.

We finished our evening with the Honorees Fireside Chat with Glenn Hutchins, Chairman of North Island and North Island Ventures & Co-Founder of Silver Lake, and Gary H. Stern, Former President and CEO of the Federal Reserve Bank of Minneapolis, in conversation with Steve Leisman, CNBC Senior Economics Reporter. Glenn and Gary were recognized for their contributions and the audience enjoyed listening to their perspectives and insights on the world economy.  

Thanks to the generosity of our supporters, CEE’s Diamond Gala hit a new record – $811,000 surpassing our evening’s goal to raise 10% of our 75th Anniversary Campaign goal of $7.5M.  These donations will help CEE ensure every student in America is taught essential financial and economic basics from kindergarten through high school. 

Thank you to our sponsors and to every guest who made this event such a success. We can’t wait for next year! 

About the Council for Economic Education

The Council for Economic Education’s (CEE’s) mission is to equip K–12 students with the tools and knowledge of personal finance and economics so that they can make better decisions for themselves, their families, and their communities, and learn to successfully navigate in our ever-changing economy. We carry out our mission in three ways.  We advocate to require financial and economic education in every state. We provide training, tools and resources – online and live through over 180 affiliates nationwide – to more than 40,000 teachers annually who in turn bring the highest quality economics and personal finance instruction to over 4 million students. We deepen knowledge and introduce high school students to critical career capabilities through our national competitions and Invest in Girls program.

Media contact: 

CEE: press@councilforeconed.org 

The post 2024 Diamond Gala appeared first on Council for Economic Education.

Personal finance education has become a popular cause. In a 2022 poll conducted by the National Endowment for Financial Education, 88 percent of U.S. adults agreed that their state should require a personal finance course for high school graduation. Eight in ten respondents said they wish they had been required to take at least one semester of personal finance to graduate from high school. 

CEE’s biennial Survey of the States is an important benchmark for progress in K-12 economic and financial education, revealing both how far we’ve come as a country and how far we still have to go. There has been notable progress since the first survey was published in 1998 with 2023 proving to be a banner year. These survey findings reflect this positive shift, and account for both currently enacted requirements and recently signed legislation scheduled to take effect soon. Legislation requiring that all students take a stand-alone course in personal finance to graduate from high school swept the nation since the 2022 Survey of the States. In the past two years, 12 states have passed such legislation—9 of those were passed in 2023 alone. The new regulations in these 12 states will lead to over 10 million additional K-12 students—21 percent of current students—gaining guaranteed access to this knowledge. Research clearly shows the positive impact that at least a semester can have on young people’s financial decisions in early adulthood. 

A critical lesson CEE has learned from our advocacy work through FinEd50, the advocacy coalition founded by CEE and Visa, is the importance of bringing diverse communities to the table in pushing for change. For example, the Pennsylvania State Education Association supported efforts to pass a new graduation requirement after ensuring that it contained key protections for teachers’ time and professional development. Teachers’ unions, often opposed to new requirements, have begun to acknowledge the importance and inevitability of personal finance requirements, as reflected by the Pennsylvania example, among others. Indicating the growing community of supporters, FinEd50 now boasts 10 members—representing diverse corporate, nonprofit, and research organizations. With calls from teachers, business leaders, community leaders, and students for all students to have this access, legislators and other state leaders have stepped up to the plate in unprecedented ways. 

Nan J. Morrison, CEE President and CEO, remarked “requiring all high schools to teach principles of personal finance and economics to all students creates equity and the possibility of a brighter future for youth nationwide. Of course, requirements are only as good as their implementation – and CEE provides K-12 teachers with free, high-quality training and resources to help with that too. Let’s use financial literacy month as a time to take the next steps!” 

Check out our ideas on how you can celebrate this month, whether you’re a teacher, a student, or just want to get financially savvy! 

CEE’s Financial Literacy Month is generously supported by Intuit for Education. 

About the Council for Economic Education

The Council for Economic Education’s (CEE’s) mission is to equip K–12 students with the tools and knowledge of personal finance and economics so that they can make better decisions for themselves, their families, and their communities, and learn to successfully navigate in our ever-changing economy. We carry out our mission in three ways.  We advocate to require financial and economic education in every state. We provide training, tools and resources – online and live through over 180 affiliates nationwide – to more than 40,000 teachers annually who in turn bring the highest quality economics and personal finance instruction to over 4 million students. We deepen knowledge and introduce high school students to critical career capabilities through our national competitions and Invest in Girls program.

Media contact: 

CEE: press@councilforeconed.org 

The post Why is Financial Literacy Month Important? appeared first on Council for Economic Education.

The 2024 Survey found that 35 states now require students to take a course in personal finance to graduate, up by 12 since 2022. The new regulations in those dozen states will lead to over 10 million additional K–12 students – 21 percent of current students – gaining guaranteed access to this knowledge, the Survey notes.

“It’s been a banner two years for young people’s financial knowledge and futures,” said Nan J. Morrison, CEE president and chief executive officer. “Requiring all high schools to teach principles of personal finance and economics and all students to study it creates equity and possibility. Putting life-essential financial knowledge into the hands of more and more kids is cause for celebration.”

“We congratulate our state affiliates, legislators, governors, educators and all who joined us in bringing this to fruition,” Morrison said.

States who added personal finance requirements since the previous Survey include Connecticut, Indiana, Louisiana, Minnesota, Montana, Oregon, Pennsylvania, West Virginia and Wisconsin in 2023 and Florida, Michigan and South Carolina in 2022.

In the equally important field of economics, three more states – 28 – now require some study for high school graduation, the Survey found, with some states implementing it through redesigned social studies, civics or government courses rather than an all-new class.

As former U.S. Treasury Secretary Robert Rubin says in the 2024 Survey report, “Teaching our students the basics of economics and personal finance helps them make more thoughtful choices. The more individuals who make better choices, the greater the probability that we will have a resilient economy and a more effective political system.”

States that require neither personal finance nor economics for high school graduation include Colorado, Massachusetts, and Washington.

“It is encouraging to see the gap in financial education offerings to students shrinking. However, there’s still more work to be done to ensure that every young person in America has equal access to a financial education course regardless of where they live, go to school or their social and economic backgrounds,” said Worku Gachou, Head of North America, Inclusive Impact & Sustainability at Visa, which supports CEE’s Survey of the States. Visa and CEE are founding members of FinEd50, a coalition of nonprofit organizations, researchers, corporate partners and professional organizations who are dedicated to improving access to financial education for all young people.

Since 1998, CEE has collected and analyzed data from all 50 states and the District of Columbia, making the biennial Survey of the States an important benchmark for tracking progress on economic and personal financial education.

Now in its 75th year, CEE also offers free educator training and classroom materials for personal finance and economics education.

“Requiring classes in personal finance and economics are significant first steps, but the requirements are only as good as their implementation– and we’re here to help with that, too,” Morrison said.

The full 2024 Survey report with detailed tables and methodology is available at SurveyOfTheStates.com; join the conversation at #SURVEYOFTHESTATES.

About the Council for Economic Education

The Council for Economic Education’s (CEE’s) mission is to equip K–12 students with the tools and knowledge of personal finance and economics so that they can make better decisions for themselves, their families, and their communities, and learn to successfully navigate in our ever-changing economy. We carry out our mission in three ways.  We advocate to require financial and economic education in every state. We provide training, tools and resources – online and live through over 180 affiliates nationwide – to more than 40,000 teachers annually who in turn bring the highest quality economics and personal finance instruction to over 4 million students. We deepen knowledge and introduce high school students to critical career capabilities through our national competitions and Invest in Girls program.

Media contact: 

CEE: press@councilforeconed.org 

The post Financial Education Requirements Soar in America’s High Schools appeared first on Council for Economic Education.

This article originally appeared in the Stamford Advocate.

STAMFORD — Teaching personal finance to high school students comes with plenty of challenges.

“I find it difficult because kids are coming to the class with certain values and you don’t want to disrupt the family values,” said Theresa Fischer, an adjunct professor of economics at Manhattanville College in Purchase, N.Y. and Iona University in New Rochelle, N.Y.

On Friday, Fischer asked a class of eight high school teachers to name some of the challenges they’ve faced teaching finance to their students. The teachers were gathered at an all-day professional development workshop hosted by the New York-based Council for Economic Education at the University of Connecticut Stamford. 

The workshop was the first of its kind in the state and was organized to help local educators prepare for the new state personal finance requirements for all graduating seniors, starting with the class of 2027.

The law requires students around the state to complete a half-credit course in financial literacy prior to graduation.

Brian A. Pounds/Hearst Connecticut Media

It’s still unclear how school districts will administer the course, as it could be offered through a variety of disciplines, such as economics, math, social studies, and others. However, everyone who attended the workshop agreed that adding personal finance to the list of student requirements is a good idea, albeit a challenge.

Teaching about stocks may not seem relevant to students from families who struggle to put food on the table, said Zeeshaan Arastu, a teacher of economics and world history at New Canaan High School.

“It’s also hard when you have a diverse group of kids in the classroom because, in addition to the values, you also have different financial situations,” Arastu said.

Other teachers in attendance agreed that teaching finance can be tricky.

“We don’t know a lot about what’s next so we’re trying to plan for what the institution wants to do in terms of offering this,” said Joel Nick, an economics teacher at Farmington High School. “We want more kids to be competent with personal finance. We think there’s big value in that.”

Mike Staffaroni, who teaches economics, civics and American history at New Canaan High School, said requiring financial literacy is a “great idea.”

“The financial world is becoming so much more complicated,” he said. “It is a fantastic and important idea that all students who graduate high school in Connecticut have some financial literacy background.”

Further, many students don’t get this sort of education elsewhere as many families do not discuss finances at home.

“It’s not something that is often brought up in families unless it’s a set discussion led by the parent,” Staffaroni said. “Talking about money is not a natural thing for many families.”

Stacia Connors, who teaches accounting, business and personal finance at Brookfield High School, said financial literacy courses for high school students can be beneficial for those students’ parents as well.

“The parents don’t really even understand personal finance,” she said, describing situations she has witnessed. “So, what happens is they’ll come to parent-teacher conferences and say, ‘My kid came home and taught me about this.’ So, the kids are actually going home and teaching their parents, which is fantastic.”

The workshop was offered at no charge and other such training sessions are in the works, said Erin Heald, senior manager of programs for CEE.

“We’re reaching out to help teachers who may be new to teaching this topic — or may not be confident managing their own personal finance — with training, lessons and curriculum so they can be effective and confident educators,” said Nan J. Morrison, CEE president and chief executive officer, in a press release. “Better prepared teachers today lead to students who can build fruitful financial lives tomorrow.” Fischer, who was the instructor of the Friday workshop, gave an example of how a family’s values can directly impact in-classroom instruction.

“I would have a student whose parents say, ‘Don’t buy anything on credit. You are never to buy anything on credit,’ ” she said. “Well, if you’re teaching credit cards, and you’re teaching interest rates, we’re having a problem here because they’re just going to turn off.”

Connors said she leads a project at her school in which she asks students to plan for their future by choosing a college or trade school to attend, joining the military or going straight to the workforce.

For the students who pick college, part of their homework is talking to their parents about how they’re going to pay for it. Sometimes, that can turn into a thorny subject.

“It becomes an uncomfortable situation for them with their parents because they’ll come back in and say ‘My parents aren’t paying for any of it,'” Connors said. “It puts them and the parents in this awkward spot.”

Connors said personal finance has been a requirement at Brookfield for about seven years now. She attended on Friday to see if the state requirements differed at all from what she’s been teaching and to learn “ways to change it up a bit” when it comes to curriculum.

For Michelle Parchesky, a math teacher at Stamford High School, the workshop was less about learning the new state requirement and more about discovering ways to implement personal finance curriculum into her classes for the benefit of her students, many of whom are recently arrived immigrants with little understanding of the English language.

“I’d like to do some personal finance with them this last quarter so they some fighting chance, especially when they go to work or want to find an apartment,” she said. 

About the Council for Economic Education

The Council for Economic Education’s (CEE’s) mission is to equip K–12 students with the tools and knowledge of personal finance and economics so that they can make better decisions for themselves, their families, and their communities, and learn to successfully navigate in our ever-changing economy. We carry out our mission in three ways.  We advocate to require financial and economic education in every state. We provide training, tools and resources – online and live through over 180 affiliates nationwide – to more than 40,000 teachers annually who in turn bring the highest quality economics and personal finance instruction to over 4 million students. We deepen knowledge and introduce high school students to critical career capabilities through our national competitions and Invest in Girls program.

Media contact: 

CEE: press@councilforeconed.org 

The post Training Connecticut Teachers for New Personal Finance Requirement appeared first on Council for Economic Education.

2024 brings excitement as we celebrate our 75th anniversary. Our mission is enduring – there is always a next generation of students to support in building lives of stability and mobility using the tools and knowledge they gain from CEE.

While we face a world with many challenges, we hope that you will continue to support our foundational work for children.

About the Council for Economic Education

The Council for Economic Education’s (CEE’s) mission is to equip K–12 students with the tools and knowledge of personal finance and economics so that they can make better decisions for themselves, their families, and their communities, and learn to successfully navigate in our ever-changing economy. We carry out our mission in three ways.  We advocate to require financial and economic education in every state. We provide training, tools and resources – online and live through over 180 affiliates nationwide – to more than 40,000 teachers annually who in turn bring the highest quality economics and personal finance instruction to over 4 million students. We deepen knowledge and introduce high school students to critical career capabilities through our national competitions and Invest in Girls program.

Media contact: 

CEE: press@councilforeconed.org 

The post CEE Report Winter 2024 appeared first on Council for Economic Education.

Attendees enjoying each other’s company before the start of the program 

This year’s breakfast featured Valerie Mosley, Founder and Chief Visionary Officer of BrightUp who was interviewed by Rebecca Patterson, CEE Board Chair and Former Chief Investment Strategist at Bridgewater Associates. Their discussion underscored the significance of financial well-being and the pivotal role women can play in shaping the future of finance. 

Valerie Mosley, Founder and Chief Visionary Officer of BrightUp with Rebecca Patterson, CEE Board Chair and Former Chief Investment Strategist at Bridgewater Associates.

The event also put a spotlight on two exceptional students, Julia and Emely, who shared their experiences as participants in the Invest in Girls program. They were in conversation with Dahiana Duarte Pena, CEE Associate Board Member and Vice President, Product Development Manager at Eastern Bank. Their stories illustrated the transformative power of IIG in fostering knowledge, confidence, curiosity, and new opportunities. Julia and Emely embody the potential that IIG unlocks for young women. 

Nan J. Morrison, CEO, Council for Economic Education, Invest in Girls students Julia and Emely, and Dahiana Duarte Pena, CEE Associate Board Member and Vice President, Product Development Manager at Eastern Bank.

Thanks to the generosity of sponsors and supporters, Invest in Girls can continue to keep girls connected to role models and offer them career advice and educational resources. The resounding success of this year’s fundraising efforts reflects the shared commitment to creating a future where more women thrive in finance. Thank you to everyone who contributed to making this event a meaningful experience for all involved. 

If you were not able to attend the breakfast, the opportunity to make a difference is still open! Consider making a gift today to support IIG’s ongoing efforts. Your generosity will help us reach and teach more girls. 

About the Council for Economic Education

The Council for Economic Education’s (CEE’s) mission is to equip K–12 students with the tools and knowledge of personal finance and economics so that they can make better decisions for themselves, their families, and their communities, and learn to successfully navigate in our ever-changing economy. We carry out our mission in three ways.  We advocate to require financial and economic education in every state. We provide training, tools and resources – online and live through over 180 affiliates nationwide – to more than 40,000 teachers annually who in turn bring the highest quality economics and personal finance instruction to over 4 million students. We deepen knowledge and introduce high school students to critical career capabilities through our national competitions and Invest in Girls program.

Media contact: 

CEE: press@councilforeconed.org 

The post Champions of Financial Literacy Breakfast 2023 appeared first on Council for Economic Education.