Massachusetts Council on Economic Education

PLEASE JOIN US ON AUGUST 23 FOR A

FINANCING YOUR FUTURE WORKSHOP FOR ALL HIGH SCHOOL EDUCATORS

High school teachers and administrators for all subject areas are invited to sign up for this late summer workshop session to learn about an exciting new Council for Economic Education (CEE) curriculum for financial literacy. All participants will receive complimentary copies of the Financing Your Future DVD ($130 value), courtesy of a grant from Citi, and a chance to share ideas and experiences with colleagues. Individual letters documenting participation will be provided to everyone as well.

CEE describes the program as follows: "Financing Your Future is a complete personal finance program on DVD for high school teachers and their students. This personal finance program contains five videos that cover topics such as investing in one's own human capital, developing a banking relationship, understanding credit and debt, and creating a budget. Each video is complemented with three standards-based classroom lesson plans that teachers, parents and mentors can use to reinforce the concepts demonstrated in the videos." http://financingyourfuture.ncee.net/

Enrollment is limited to 30 per workshop session, so hurry and reserve your place today. Please send an email to the addresses listed below for this workshop, and include your name, school, grade/subject, and contact information. Questions about the workshop may be addressed to the individual workshop leaders Deborah Bloomberg deborah.bloomberg@bos.frb.org or Dr. Margaret Brooks mbrooks@bridgew.edu, the program organizer and president of the Massachusetts Council on Economic Education.

This special session will be held on Monday, August 23, 2010 from 9 AM to 12PM at the Federal Reserve Bank of Boston, 600 Atlantic Avenue.

Bank Contact

George "Scott" Guild george.guild@bos.frb.org 617.973.3639

Brookline High School

EVERYDAY ECONOMICS FOR TEACHERS

A dedicated and enthusiastic group of elementary, middle and high school teachers from Brookline, Massachusetts recently completed the “Everyday Economics” Teacher Summer Institute.   This intensive professional development program for teachers was held at Brookline High School for 5 days, June 28 – July 2, 2010, from 9:00 am-3:30 pm. Participants had a chance to earn PDP’s or 3 graduate credits through Bridgewater State College.

The primary goals of this institute were to provide content training for Brookline teachers in the three main areas of microeconomics, macroeconomics, and international economics and to provide pedagogical training that will enhance and stimulate creative, hands-on teaching approaches in their own classrooms. The teacher-participants subsequently developed their own lesson plans and shared these ideas with other teachers within the Brookline school system.

The Institute provided up-to-date content and teaching methodology in economic education, using online resources, short DVD clips, case studies, lesson plan demonstrations, and directed reading. Emphasis was on building participants’ economic and financial literacy skills through a variety of hands-on activities. Teachers were encouraged to find innovative ways to implement these content ideas into their classrooms so that students will have a better understanding of everyday economic decisions and about the economy itself.  

The materials presented were consistent with the Massachusetts state curriculum framework for social studies, which states: “Citizens in our society need to understand the current condition of the world and how it got that way, and be prepared to act upon the challenges to democracy in our own day. What are the roots of our current dangers, and of the choices before us? For intelligent citizenship, we need a thorough grasp of the daily workings of our own societies, as well as the societies of our friends and our adversaries, and of those who live amid poverty and violence, with little freedom and little hope.”

Teachers understood the importance for Massachusetts students be aware of how the economy influences our everyday lives, how the business cycle has impacts on businesses and communities, and how the economy of the United States economy is influenced by monetary and fiscal policies, and by its economic interactions with the rest of the world. This Summer Institute provided participants with the chance to develop their knowledge of economic theory in each of these areas and greater confidence to bring these concepts to their students. In turn, their students will be better prepared to make informed decisions throughout life, even in the face of changing economic and financial environments.    

Institute staff

Co-Directors

Dr. Geoff Tegnell, K-8 Social Studies Curriculum Coordinator

Dr. Gary Shiffman, 9-12 Social Studies Curriculum Coordinator

Public Schools of Brookline

Instructor – Dr. Margaret Brooks

President, Massachusetts Council on Economic Education

Professor and Chair of Economics, Bridgewater State College

Academic Staff

Dr. Ilter Bakkal, Economics Professor, Bridgewater State College

Dr. Dorothy Siden, Chair and Professor of Economics, Salem State College

Mr. George Scott Guild, Director of Economic Education, Federal Reserve Bank of Boston

 Teaching Consultants

Ms. Joan Wool and  Ms. Jean Boucher

Day #1 Microeconomics Monday  June 28

9:00am     Introductions; Overview; State of economic education in Massachusetts

10:00am   Resource scarcity and consumer choices by Margaret Brooks

11:00am   Supply and demand; Price and income elasticities by Dorothy Siden

12:00pm   Lunch

12:30pm   Financing your Future DVD lessons by Joan Wool from Marshfield High

3:30pm      Closure

Day #2 Microeconomics Tuesday  June 29

9:00am    Profit maximization and cost minimization by Margaret Brooks

10:00am  Market structures, business case studies, and environment by Ilter Bakkal

12:00pm  Lunch

12:30pm  Incorporating entrepreneurship into the classroom by Jean Bouchard, certified Mini-Society trainer

3:30pm              Closure

Day #3 Macroeconomics Wednesday June 30

9:00am             Defining and measuring GDP by Margaret Brooks

10:00am          Understanding unemployment and inflation by Dorothy Siden 

12:00pm          Lunch 

1:00pm             Lesson modeling by Joan Wool

3:30pm             Closure

Day #4 Macroeconomics Thursday July 1

9:00am            Government spending, taxes, and budgets by Margaret Brooks

10:00am          Money and monetary policy by Ilter Bakkal

12:00pm          Lunch 

1:00 pm           Lesson modeling and lesson plan development by Gary Shiffman and Geoff Tegnell

3:30pm            Closure

Day #5  International Economics Friday July 2

9:00am            International economics overview, Comparative advantage by Margaret Brooks

10:00am         The Federal Reserve and project-based learning including International  Economic                           Summit and Euro Challenge by George Scott Guild   

12:00pm          Lunch

1:00pm            Lesson plan presentation by teacher-participants

3:30pm            Closure

Brookline Teachers Participating in the 2010 Summer Institute

Geoff Tegnell, Scott Guild, Gary Shiffman

Congratulations to Gloucester High School students who have been awarded the MCEE trophy for best performance in the Spring 2010 MCEE Stock Market Game! Kudos also to their teacher Ann Grassetti who prepared her students well for the competiton. Gloucester High teams demonstrated their excellent financial skills and training through their outstanding performance among Massachusetts teams competing in the MCEE division.  

MCEE looks forward to offering this exciting online competition for Massaachusetts students again next year. Teachers, please watch for fall sign-up information to be posted in the upcoming weeks. 

Special thanks go to Eaton Vance for providing generous financial support for the Stock Market Game for 2009 and 2010.

Teacher Ann Grassetti with her Student Stock Market Experts

Gloucester High

The Massachusetts Council on Economic Education will once again be well represented at the prestigious Council for Economic Education annual meeting. This year’s meeting will be held in Miami, Florida from October 6-9, 2010.  http://www.councilforeconed.org/conference/

MCEE Board members Dorothy Siden and Margaret Brooks, along with Ken Ardon from Salem State College, will be presenting a session entitled ”Positive Results Using Community Engagement to Recruit K-12 Teachers for Workshops in Economic Education.” The session will run on Thursday October 7 from 3:30-4:20 pm. 

MCEE Board members Scott Guild and Margaret Brooks, along with Idaho state Council President Leon Maynard and Mississippi state Council President Pam Smith, will be presenting a session entitled “How the International Economic Summit Program is Reaching Students and Educators from San Francisco to Shanghai.” The session will run on Friday  October 8 from 8:00-8:50 am.  Among other topics, this session will be presenting information about the first New England International Economic Summit that was held in December 2009 at Bridgewater State College and co-sponsored by the Federal Reserve Bank of Boston, the Idaho Council on Economic Education, the Challenger Foundation, and the Massachusetts Council on Economic Education: http://www.bridgew.edu/NewsLog/view_story.cfm?StoryID=646

As shown in the entire CEE conference program http://www.councilforeconed.org/conference/agenda.php, this national conference offers a chance to network with other educators and many useful sessions for teachers who are interested in bringing economics concepts into their classes in fun and innovative ways. Massachusetts teachers are welcome to join members of the MCEE Board in attending and participating in this year’s conference. The Global Association of Economics Teachers (GATE) is a co-sponsor of the conference.  http://www.councilforeconed.org/gate/ Sign up today!

MCEE Board Members and Massachusetts Teachers at CEE conference, Washington DC, Oct. 09

Belmont High School Wins the 2010 Massachusetts Economics Challenge

Boston, Massachusetts (March 10, 2010) – On Monday March 8, the Federal Reserve Bank of Boston hosted an important state-level economics competition as part of the 2010 National Economics Challenge.

Over one hundred students from high schools across Massachusetts competed on school teams to demonstrate their knowledge of microeconomics, macroeconomics, and international/current economic events. Participating schools included Belmont High, Bromfield School, Dartmouth High, Dorchester High, Gloucester High, and St. John’s Preparatory School.

The state championship was won by the “Inferior Goods” team from Belmont High School consisting of students Andrew Carey, Chelsea Zhang, Daniel Song, and Tim Hatch. The runners-up were also from Belmont High, with “Invisible Handshake” team members Andy Whitworth, Pamela Shapiro, Martin Richard, and Chris Stadler.

Belmont High teacher Bryan Corrigan was clearly pleased with his students’ excellent performance. “I am so proud of all our participants.  It is great to see their hard work in the classroom pay off.  I see how passionate they are about the subject every day.  They appreciate the opportunity to travel to the Fed and be recognized for their hard work and enthusiasm in the field of economics.”

The Belmont High state champions went on to represent Massachusetts in the National Semifinals on April 26, 2010.

Margaret Brooks, president of the Massachusetts Council on Economic Education, stated “The Massachusetts Economics Challenge is truly a collaborative effort. Not only do students work together in teams during the competition itself, but there are also many sponsors and educators who work together to make the day a success.” The Massachusetts Council on Economic Education received a grant from the Council for Economic Education to assist with funding the competition. The Federal Reserve Bank of Boston provided additional funding, resources and expertise. Fed staff members Scott Guild, Director of Economic Education, and Albert Barnor, Economic Education Specialist, offered key leadership and support for running the event. In addition, faculty members and students from Bridgewater State College, Salem State College, Framingham State College, and North Shore Community College volunteered their time to help out with grading and planning. With so many people working side by side to make the day a success, the Economics Challenge provided a winning experience to all the Massachusetts students who participated.

Exeter High Wins NH Economics Challenge

Exeter High School Wins the 2010 New Hampshire Economics Challenge

In the end, the New Hampshire state championship was won by the “Lehman Brothers” team from Exeter High School consisting of students Erin Benotti, Daniel Lameyer, Alex Jones, and Derek Mraz.

The runners-up for the state championship were from the “Monetarists” team representing Kimball Union Academy. These students are Harry Lee, Hui jun (Helen) Zhang,  Ju Hyeon Kim, and Sung Huon (Luke) Han.

The “Deregulators” team from Exeter High also delivered a noteworthy supporting performance. Team members were Emily Bergan, Evan Greene, and Ryan McGovern.

Exeter High teacher Rob Newman was very proud of his students’ excellent performance and was glad to know they will now have the opportunity to advance to the next level of competition in representing their state. Ken Relihan from the New Hampshire Department of Education came and offered sincere congratulations to all the students who came to compete in the New Hampshire Economics Challenge.

The Exeter High state champions represented New Hampshire as they went on to compete in the National Semifinals on April 26.

SNHU Professor David Fehr facilitated on-site arrangements for Southern New Hampshire University to host the day-long event. The Massachusetts Council on Economic Education received a grant from the Council for Economic Education to fund the competition, and MCEE President Margaret Brooks provided key leadership and planning for the competition. Scott Guild, Director of Economic Education, and Albert Barnor, Economic Education Specialist, from the Federal Reserve Bank of Boston offered additional leadership and expertise in running the event. Professor Moonsu Han from North Shore Community College in Massachusetts supervised the grading, assisted by educator Dick Brunelle from Boston and a host of dedicated college student volunteers. With so many people working side by side to make the day a success, the state Economics Challenge provided a winning experience to all the New Hampshire students who participated.

It’s happening now and it’s not too late to join the fun!

See summary rules about the National Economics Challenge here:
http://economicschallenge.councilforeconed.org/
http://economicschallenge.councilforeconed.org/rules.php

There are several important changes to this year’s format. First, there will be no preliminary online competition. Everything takes place on the same day. Second, the state and national Economics Challenges no longer have separate Adam Smith and David Ricardo team distinctions; rather, any student is eligible to compete as long as the were enrolled in an economics class at some time during the 2009-2010 academic year. Ideally, each team will consist of four students, although three-student teams are acceptable too.

REGISTER:

PARTICIPATE IN ONLINE TRAINING:
Click here for the New Hampshire presentation on teacher training for the Economics Challenge.
Click here for the Massachusett presentation on teacher training for the Economics Challenge.

ACCOMPANY YOUR TEAMS TO THE STATE CHALLENGE: The Massachusetts Economics Challenge will take place on Monday, March 8 at the Federal Reserve Bank of Boston. The New Hampshire Economics Challenge will take place on Monday, March 15 at Southern New Hampshire University. State champions will be awarded trophies and all participants receive certificates.

IF YOUR TEAM WINS: The winning state team will advance to the National Semifinals on April 26. From there, the six winning teams in the National Semifinals advance to the National Finals in New York City on May 22-24, 2010. There are cash prizes awarded to the national winners and the runners-up.

2009 National Economics Challenge Winners -- Phillips Academy Andover

Last year, Phillips Academy Andover won the Massachusetts Adam Smith Championship, and went on to win the Regionals, and then the National Championship!

Please join us for this exciting and free economics competition. Good luck to everyone!