Jacqueline Prester2015 Massachusetts Business Teacher of the YearMansfield High School, Mansfield, MA@mrsprester #finlit

Economic Literacy

What is economic literacy?

• Understanding how money works in the world

• Closely tied in with financial literacy• Understanding how money affects your own life:

– Budgeting– Saving and investing– Insurance– Tax planning– Retirement

Why is economic literacy important?

– 84% of teens look to their parents for financial advice

– 34% of parents do not discuss finances with their children

– Too many of our students are underserved

Economic literacy in schools (2014)

• All 50 states include economics in the K-12 standards• Only 45 states require the standards be implemented• 22 states require students to take a course in economics• 16 states require student testing

(http://www.surveyofthestates.com/#2014)

Financial literacy in schools (2015)

What can we do?

• Stress the importance of economic and financial literacy• Make economic and financial literacy a requirement• Expose our students to more• Start early and make it engaging!

EconEssentials

• 2 Digital Learning Modules– econessentalsinschool.com– Fueling the Future– Facts About Food

• Real-world examples of core economic principles• Integrate seamlessly into the classroom

Fueling the Future

Knowledge@Wharton High School

• Personal Finance lessons created by educators• Interactive and technology-infused• Aligned to:

– Common Core– Jump$tart – CEE

Kahoot

PWC Earn Your Future

• Committed $190M to financial literacy education

• Interactive lesson plans and pre-/post-assessments:– tinyurl.com/PWCearnyourfuture– Money Management– Career Exploration– Saving & Investing– Credit & Debt

Budget Challenge

• hrblock.budgetchallenge.com

• Simulation that reinforces:– Balancing current and future cash needs– Paying bills on time and on budget– Practical application of financial concepts

• Rated on engagement, behavior, knowledge, skill

W!se Certification

• Pre-test assessment• Provides resources for teaching• Certification exam• Award programs for students and teachers

“Unless someone like

you cares a whole awful

lot, nothing is going to

get better. It’s not.”- Dr. Seuss