council for economic education 2009 survey

8/6/2019 Council for Economic Education 2009 Survey

http://slidepdf.com/reader/full/council-for-economic-education-2009-survey 1/24

A REPORT CARD

Economic, Personal Finance

& Entrepreneurship Education

in Our Nation’s Schools in 2009

SURVEYO F T H E S T A T E S

Funding for this survey was provided by State Farm



LETTER FROM STATE FARM

Barbara Cowden

Executive Vice PresidentState Farm Insurance Companies

Dear Friends,

At State Farm®, we actively support efforts to ensure all children have access to a quality

education that will allow them to achieve their greatest potential. We recognize that helping

young people achieve financial security impacts their quality of life.

Our nation’s young people will inherit a complex and rapidly changing economy. Yet, many

are unprepared for the challenges ahead. In fact, results of a poll conducted and released by the

Council for Economic Education (CEE) revealed nearly half of the adults and high school

seniors surveyed did not know that money loses value during times of inflation; most did not

know that the stock market exists as a venue for people to buy and sell stocks; and, one-quarter

of those surveyed confused budget deficit with national debt.

While these poll results are disappointing, there is good news. With its expertise and influence

in broadening the delivery of economic education, the Council for Economic Education is

fulfilling its mission to advocate for better and greater school-based economic and personal

finance education at the K-12 level; and, to educate young people in the United States and

around the world, primarily through well-prepared teachers, so they can become empowered

with economic and financial literacy.

This is why State Farm has partnered with the Council for Economic Education for more than

30 years. CEE has proven both its commitment and ability to impact our nation’s financial

illiteracy.

We are especially pleased to be the exclusive sponsor of this sixth Report Card – Survey of the

States. It provides the only national set of data that tracks progress of economic and personalfinance education. Responding to growing interest, the survey also includes select data on the

related area of entrepreneurship education.

While progress continues to be made in the teaching of economics and personal finance in our

nation’s schools, much more work is required in terms of placing a greater emphasis on

economics and personal finance in the K-12 curriculum; requiring separate, stand-alone courses

in these subjects as part of high school graduation requirements; and testing student

knowledge levels.

As a corporate citizen and a concerned community partner, State Farm will continue working

with the Council for Economic Education to help our children achieve the financial security

they deserve.


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TABLE OF CONTENTS

Looking Forward 2

Summary of Findings 3

Methodology 21

TABLES AND MAPS

Economic Education 4 – 9

Economics 1998 – 2009 — Tabular Data 4

Status of Economic Education in the Individual States 2009 — Tabular Data 5

Status of Economic Education Across the Nation 2009 — Map 9

Personal Finance Education 10 – 15

Personal Finance 1998 – 2009 — Tabular Data 10

Status of Personal Finance Education in the Individual States 2009 — Tabular Data 11

Status of Personal Finance Education Across the Nation 2009 — Map 15

Entrepreneurship Education 16 – 20

Status of Entrepreneurship Education in the Individual States 2009 — Tabular Data 16

Status of Entrepreneurship Education Across the Nation 2009 — Map 20



LETTER FROM THE CEE

1998 2009 Increase 1998 2009 Increase

Number of States with Content Standards 38 49 11 21 44 23

Number of States Requiring

Implementation of Content Standards 28 40 12 14 34 20

Number of States Requiring a Course to be Offered 16 21 5 0 15 15

Number of States Requiring a Course to be Taken

for Graduation 13 21 8 1 13 12

Number of States Requiring Testing 25 19 -6 1 9 8

LOOKING FORWARD

The Council for Economic Education is pleased to make available, with continued support fromthe State Farm Insurance Companies, this, the 6th Survey of the States, A Report Card on the

Nation. This year’s Survey once again shows that we continue to make steady progress inadvancing the cause of economic and financial literacy. Our challenge is to keep pushing, asadvocates and educators, to make this literacy an important part of the core, required, and testededucation experience for all of our young people while they are in school, K-12.

The CEE’s principal goals going forward are to:

1. Advocate for the inclusion of economic and financial education as a relevant component of therenewed federal No Child Left Behind/Elementary and Secondary Education Act legislation.

2. Advocate for every state to include robust K-12 economics and personal finance state standards,require these standards to be implemented by school districts, require testing of students of their

knowledge in these subjects, and require that economics and personal finance courses be offered, taken, and tested at thehigh school level as part of the graduation requirement.

3. Advocate for states supporting teacher certification and professional development requirements that lead to well-preparedteachers being in place to teach economics and personal finance.

4. Monitor progress in advancing economic and personal finance education such that all stakeholders – teachers, universityeducators, school administrators, policy-makers, business leaders and advocates – have the tools they need to promote theeconomic and financial literacy of our nation’s youth.

Educating young people in economics and personal finance is vital to our nation’s competitive future. The CEE’s work iscentered on developing and delivering curriculum materials, training teachers, assessing students, and advocating fornational and state standards that lead to a measurable increase in economic and financial literacy levels. Together withpublic and private partners, the CEE creates and promotes strategies that focus on the principle that economic and financialliteracy provide an essential foundation for empowering all of our young people with the skill-set they need for successfullives and responsible citizenship.

ECONOMIC AND PERSONAL FINANCE EDUCATIONIN OUR NATION’S SCHOOLS: A COMPARATIVE LOOK (1998-2009)

CEE’S SURVEY OF THE STATES

E C O N O M I C S PERSONAL FINANCE

Joseph A. Peri

Acting President and CEOCouncil for Economic Education (CEE)


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SUMMARY OF FINDINGS

This is the sixth survey since 1998 on the state of economic and personal finance education in the fifty states conductedby the CEE. A leader in promoting economic and personal finance education, the CEE conducts these surveys to gaugehow the state standards, their implementation, course requirements, and state testing change over time. Responding togrowing interest, this survey also includes, for the second time, select data on the related area of entrepreneurshipeducation.

Progress continues to be made in the teaching of economics and personal finance in our nation’s schools. However, muchmore work still needs to be done in terms of placing a greater emphasis on economics and personal finance in the K-12curriculum; requiring separate, stand-alone courses in these subjects as part of high school graduation requirements; andtesting student knowledge levels.

In recent years, as more states focus on personal finance education along with economic education, there appears to be atrend emerging for greater overlap among the two separate, but related subjects, in terms of requirements and courseofferings. Many states are adopting a “hybrid approach” whereby economics and personal finance content is taughttogether. The CEE will continue to monitor this trend closely in the future.

Economics, traditionally part of the core Social Studies curriculum, is included, to at least some extent, in theeducational standards of all states, and the District of Columbia.

40 states (the same as in 2007 and up from 28 in 1998), now require these standards to be implemented.

21 states now require students to take an Economics course as a high schoolgraduation requirement (up from 17 in 2007 and 13 in 1998). These 21 states makeup nearly 65% of the entire U.S. population.

However, only 19 states require the testing of student knowledge in Economics, four fewer than in 2007 (23).

Personal Finance, a newer subject in comparison with Economics, is now included, to at least some extent, in theeducational standards of 44 states (up from 40 in 2007 and 21 in 1998).

34 states (up from 28 in 2007 and 14 in 1998), now require these standards to be implemented.

13 states now require students to take a Personal Finance course (or Personal Financeincluded in an Economics course) as a high school graduation requirement (up fromseven in 2007 and from one in 1998). These 13 states make up nearly 31% of theentire U.S. population.

9 states require the testing of student knowledge in Personal Finance (same as in 2007).

Entrepreneurship, by comparison, is less emphasized and therefore less integrated into the curriculum of the states.19 states include the subject of Entrepreneurship in their K-12 educational standards, and four states requireEntrepreneurship to be included as a component of a high school course, usually Economics, required for graduation (upfrom three in 2007).


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TOPICS 1998 SURVEY

FINDINGS

2000 SURVEY

FINDINGS

2002 SURVEY

FINDINGS

2004 SURVEY

FINDINGS

2007 SURVEY

FINDINGS

2009 SURVEY

FINDINGS

Include

economics in

their standards

38 states 48 states, plusthe District ofColumbia

48 states, plusthe District ofColumbia




Standards

required to be

implemented

28 states 36 states 33 states 38 states 40 states, plusthe District ofColumbia

40 states

High School

course required

to be offered

16 states 16 states 17 states 16 states 17 states 21 states

High School

course required

to be taken


Student testing

of economic

concepts

required


ECONOMICS 1998 - 2009


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Alabama Yes Yes Yes Yes No

Alaska Yes No No No No

Arizona Yes Yes Yes Yes No

Arkansas Yes Yes Yes Yes No

California Yes Yes Yes Yes No

Colorado Yes Yes No No No

Connecticut Yes No No No No

Delaware Yes Yes No No Yes

Florida Yes, HS only Yes Yes Yes No

Georgia Yes Yes Yes Yes Yes

Hawaii Yes Yes No No No

Idaho Yes Yes Yes Yes No

Illinois Yes Yes No No No

Indiana Yes Yes Yes Yes No

Iowa Yes Yes No No No

STATUS OF ECONOMIC EDUCATION IN THE INDIVIDUAL STATES – 2009

STATE States Reporting

K-12 Standards,

Guidelines or

Proficiencies?

States Reporting

Standards

Required to be

Implemented by

Districts?

States Reporting

High School

Course Required

to be Offered?

States Reporting

High School

Course Required

to be taken?

States Reporting

Required

Student Testing?




K-12 Standards,

Guidelines or

Proficiencies?

States Reporting

Standards

Required to be

Implemented by

Districts?

States Reporting

High School

Course Required

to be Offered?

States Reporting

High School

Course Required

to be taken?

States Reporting

Required

Student Testing?

Kansas Yes Yes No No Yes

Kentucky Yes Yes No No Yes

Louisiana Yes Yes Yes Yes Yes

Maine Yes Yes No No No

Maryland Yes Yes No No Yes

Massachusetts Yes No No No No

Michigan Yes Yes Yes Yes Yes

Minnesota Yes Yes No No No

Mississippi Yes Yes Yes Yes Yes

Missouri Yes No No No No

Montana Yes Yes No No No

Nebraska Yes No No No No

Nevada Yes Yes No No No

New Hampshire Yes No Yes Yes No

New Jersey Yes Yes Yes Yes No





K-12 Standards,

Guidelines or

Proficiencies?

States Reporting

Standards

Required to be

Implemented by

Districts?

States Reporting

High School

Course Required

to be Offered?

States Reporting

High School

Course Required

to be taken?

States Reporting

Required

Student Testing?

New Mexico Yes Yes Yes Yes Yes

New York Yes Yes Yes Yes Yes

North Carolina Yes Yes Yes Yes Yes

North Dakota Yes No No No No

Ohio Yes No No No Yes

Oklahoma Yes No No No Yes

Oregon Yes Yes No No No

Pennsylvania Yes Yes No No No

Rhode Island No No No No No

South Carolina Yes Yes Yes Yes Yes

South Dakota Yes Yes Yes Yes Yes

Tennessee Yes Yes Yes Yes Yes

Texas Yes, HS only Yes Yes Yes No

Utah Yes, HS only Yes No No No

Vermont Yes Yes No No No




K-12 Standards,

Guidelines or

Proficiencies?

States Reporting

Standards

Required to be

Implemented by

Districts?

States Reporting

High School

Course Required

to be Offered?

States Reporting

High School

Course Required

to be taken?

States Reporting

Required

Student Testing?

Summary 49 States plus DC 40 States 21 States 21 States 19 States


Virginia Yes Yes Yes Yes Yes

Washington Yes Yes No No No

West Virginia Yes Yes No No Yes

Wisconsin Yes Yes No No Yes

Wyoming Yes Yes No No No

District of

Columbia

Yes No No No No



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C O N O M I C S I N C L U D E D i n s t a t e s t a n d a r d s

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E M E N T A T I O N o f s t a t e s t a n d a r d s R E

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S t a t e

R E Q U I R E S H . S . E C O N O M I C S C O U R

S E O F F E R I N G

S t a t e

R E Q U I R E S H . S . E C O N O M I C S C O U R

S E E N R O L L M E N T

S T U D

E N T T E S T I N G R E Q U I R E D



PERSONAL FINANCE 1998 - 2009

TOPICS 1998 SURVEY

FINDINGS

2000 SURVEY

FINDINGS

2002 SURVEY

FINDINGS

2004 SURVEY

FINDINGS

2007 SURVEY

FINDINGS

2009 SURVEY

FINDINGS

Include

personal finance

in their

standards


Standards

required to be

implemented


High School

course required

to be offered

N/A 7 states 4 states 7 states 9 states 15 states

High School

course required

to be taken

1 state 4 states 4 states 6 states 7 states 13 states

Student testing

of personal

finance

concepts

required

1 state 6 states 8 states 8 states 9 states 9 states


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Alabama Yes No No No No

Alaska No No No No No

Arizona Yes Yes No No No

Arkansas Yes, HS only Yes Yes Yes No

California No No No No No

Colorado No No No No No

Connecticut Yes, HS only No No No No

Delaware No No No No No

Florida Yes, HS only Yes No No No


Hawaii Yes No No No No

Idaho Yes Yes Yes Yes Yes

Illinois Yes Yes Yes Yes No

Indiana Yes Yes No No No

Iowa Yes Yes No No No

STATUS OF PERSONAL FINANCE EDUCATION IN THE INDIVIDUAL STATES – 2009


K-12 Standards,

Guidelines or

Proficiencies?

States Reporting

Standards

Required to be

Implemented by

Districts?

States Reporting

High School

Course Required

to be Offered?

States Reporting

High School

Course Required

to be taken?

States Reporting

Required

Student Testing?




K-12 Standards,

Guidelines or

Proficiencies?

States Reporting

Standards

Required to be

Implemented by

Districts?

States Reporting

High School

Course Required

to be Offered?

States Reporting

High School

Course Required

to be taken?

States Reporting

Required

Student Testing?

STATUS OF PERSONAL FINANCE EDUCATION IN THE INDIVIDUAL STATES – 2009

Kansas Yes Yes No No No

Kentucky Yes Yes No No Yes

Louisiana Yes Yes Yes Yes Yes

Maine Yes Yes No No No

Maryland Yes Yes Yes Yes No

Massachusetts Yes No No No No

Michigan Yes Yes No No No

Minnesota Yes, HS only Yes No No No

Mississippi Yes, HS only No Yes No No

Missouri Yes, HS only Yes No No Yes

Montana Yes Yes No No No



New Hampshire Yes No No No No

New Jersey Yes Yes Yes Yes No




K-12 Standards,

Guidelines or

Proficiencies?

States Reporting

Standards

Required to be

Implemented by

Districts?

States Reporting

High School

Course Required

to be Offered?

States Reporting

High School

Course Required

to be taken?

States Reporting

Required

Student Testing?

New York Yes, HS only Yes Yes Yes No

North Carolina Yes, HS only Yes No No No

New Mexico No No Yes No No

North Dakota Yes No No No No

Ohio Yes, HS only No No No Yes

Oklahoma Yes Yes Yes Yes No

Oregon Yes Yes No No Yes

Pennsylvania Yes Yes No No No


South Carolina Yes, MS-HS only Yes No No No

South Dakota Yes Yes Yes Yes No

Tennessee Yes, HS only Yes Yes Yes No

Texas Yes, HS only Yes No No No

Utah Yes, HS only Yes Yes Yes Yes

Vermont Yes Yes No No No



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L F I N A N C E E D U C A T I O N

A C R O S S T H E N A T I O N

– 2 0 0 9

P E R S

O N A L F I N A N C E I N C L U D E D i n s t a t e

s t a n d a r d s

I M P L


Q U I R E D

S t a t e

R E Q U I R E S H . S . P E R S O N A L F I N A N C

E C O U R S E O F F E R I N G

S t a t e

R E Q U I R E S H . S . P E R S O N A L F I N A N C

E C O U R S E E N R O L L M E N T

S T U D




STATUS OF ENTREPRENEURSHIP EDUCATION IN THE INDIVIDUAL STATES – 2009


K-12 Standards,

Guidelines or

Proficiencies?

States Reporting

Standards

Required to be

Implemented by

Districts?

States Reporting

High School

Course Required

to be Offered?

States Reporting

High School

Course Required

to be taken?

States Reporting

Required

Student Testing?

Alabama No No No No No

Alaska No No No No No

Arizona No No No No No

Arkansas No No No No No

California No No No No No

Colorado No No No No No

Connecticut No No No No No

Delaware No No No No No

Florida No No No No No


Hawaii No No No No No

Idaho Yes Yes No No No

Illinois No No No No No

Indiana Yes, MS-HS only No No No No

Iowa No No No No No


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K-12 Standards,

Guidelines or

Proficiencies?

States Reporting

Standards

Required to be

Implemented by

Districts?

States Reporting

High School

Course Required

to be Offered?

States Reporting

High School

Course Required

to be taken?

States Reporting

Required

Student Testing?

Kansas No No No No No

Kentucky Yes, MS-HS only Yes No No Yes

Louisiana Yes, MS-HS only Yes Yes Yes Yes

Maine No No No No No

Maryland No No No No No

Massachusetts No No No No No

Michigan No No No No No

Minnesota No No No No No

Mississippi Yes, HS only No No No No

Missouri No No No No No

Montana Yes, HS only No No No No



New Hampshire Yes No No No No

New Jersey Yes No Yes No No




K-12 Standards,

Guidelines or

Proficiencies?

States Reporting

Standards

Required to be

Implemented by

Districts?

States Reporting

High School

Course Required

to be Offered?

States Reporting

High School

Course Required

to be taken?

States Reporting

Required

Student Testing?

STATUS OF ENTREPRENEURSHIP EDUCATION IN THE INDIVIDUAL STATES – 2009

New York Yes Yes Yes Yes No

North Carolina Yes, HS only Yes Yes Yes Yes

New Mexico No No No No No

North Dakota No No No No No

Ohio No No No No No

Oklahoma No No No No No

Oregon No No No No No

Pennsylvania Yes No No No No


South Carolina No No No No No

South Dakota Yes No No No No

Tennessee No No No No No

Texas Yes Yes No No No

Utah Yes, HS only No No No No

Vermont No No No No No




K-12 Standards,

Guidelines or

Proficiencies?

States Reporting

Standards

Required to be

Implemented by

Districts?

States Reporting

High School

Course Required

to be Offered?

States Reporting

High School

Course Required

to be taken?

States Reporting

Required

Student Testing?

Summary 19 States 9 States 5 States 4 States 5 States

Virginia Yes, MS-HS only No No No No

Washington No No No No No

West Virginia Yes Yes No No Yes

Wisconsin No No No No No

Wyoming No No No No No

District of

Columbia

No No No No No



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E N T R E P R E N E U R S H I P I N C L U D E D i n s t a t e s t a n d a r d s

I M P L


Q U I R E D

S t a t e

R E Q U I R E S H . S . E N T R E P R E N E U R S H

I P C O U R S E O F F E R I N G

S t a t e

R E Q U I R E S H . S . E N T R E P R E N E U R S H

I P C O U R S E E N R O L L M E N T

S T U D




ABOUT CEE

THE COUNCIL FOR ECONOMIC EDUCATION (CEE)

The Council for Economic Education (CEE) envisions a world in which people are empowered through economic and

financial literacy to make informed and responsible choices throughout their lives as consumers, savers, investors,

workers, citizens, and participants in our global economy.

The mission of the CEE is two-fold: To advocate for better and greater school-based economic and personal finance

education at the K-12 level; and to educate young people in the United States and around the world, primarilythrough well-prepared teachers, so they may become empowered with economic and financial literacy.

The CEE offers comprehensive, best-in-class K-12 economic and personal finance education programs, including the

basics of entrepreneurship, consisting of teaching resources across the curriculum, professional development for

teachers, and nationally-normed assessment instruments. Each year, the Council’s programs reach more than 150,000

K-12 teachers and over 15 million students in the United States and in more than 30 other countries. These

programs are delivered through a diversified system: directly from the Council, through a network of affiliated state

Councils and university-based Centers for Economic Education, and through other partner organizations.

METHODOLOGY

The current survey methodology has benefited from technological advancements and greater information sharing in

recent years. The traditional paper survey used from 1998 - 2002 was replaced by a more time-efficient and user-

friendly digital version in use since 2005 – allowing for electronic distribution, collection and computation.

Responses to the web-based survey were solicited from:

a) the chief executives of State Councils on Economic Education affiliated with the CEE, and

b) Social Studies, Business, and Family and Consumer Science education specialists in all 50 states and the

District of Columbia. The questions on the survey parallel earlier surveys, but in some cases the format was

changed to accommodate the web-based response.

Respondents are considered expert representatives with the specific knowledge necessary to answer the survey

accurately. All data is self-reported and sources are contacted for verification only under the following circumstances:

1) the data is significantly different from previous years, and/or

2) different information is received from multiple sources in the same state.

This report on the state of economic, personal finance, and entrepreneurship education presents summary findings as

well as state-by-state detail. Tables summarizing major conclusions in economics and personal finance contain

comparisons to previous years. Maps are used to illustrate state-by-state findings in economic, personal finance, and

entrepreneurship education.

council for economic education 2009 survey

Documents