Center for Economic Education “takes economics to the people”

Dear Colleagues:

The Center for Economic Education was established just over a decade ago by Dr. Julie Heath, a professor of economics and long-time department chair. When she retired to take a position at the University of Cincinnati, Dr. Douglas Campbell, an Instructor in the Department of Economics, officially took over as Director in March 2012 and continues to guide its growing list of successes.

“As the name implies, the Center is focused on advancing the level and quality of economics and financial literacy education in the area,” explains Director Campbell. “Much of our efforts are focused on teaching teachers how to teach economics and personal finance. Toward that goal, I typically lead 12 professional development workshops each year for local teachers.  Teachers who attend these workshops receive free curriculum and training, not just on the lesson plans themselves, but on the economics concepts embedded in them. Most of the teachers who attend these workshops are from Shelby County and the surrounding area.” By focusing on training the trainers the Center is able to multiply its impact and numbers reached.

The curriculum is tied to state standards for economics and personal finance and, in most cases, is directly linked to specific Common Core State Standards, making it very valuable to local teachers. The curriculum is also easily integrated into other subject areas (like language arts, mathematics, and social studies) and covers all grade levels from kindergarten through high school. Thus, teachers can teach economics while teaching other subjects. Professor Campbell explains, “One of the most popular workshops I’ve led involves teaching economics using children’s literature, like Curious George and the Berenstain Bears, for lower elementary school teachers. This is very important, because the sooner we begin teaching young people about economics and personal finance, and the more we expose them to it, the greater the impact we will have.”

The Center also houses the Smart Tennessee program, which is a statewide financial literacy program focusing on grades K-8. That program employs a unique curriculum, Financial Fitness for Life, which is widely recognized as the leader in personal finance education. Smart Tennessee has reached every corner of the state and every type of district, from major cities like Memphis to rural areas. Smart Tennessee is recognized as a national leader in personal finance instruction and has been copied by other states like Texas. 
Just recently, the Center, along with the Federal Reserve Banks of Nashville and Memphis, sponsored the Economics Challenge and Personal Finance Challenge, two annual statewide competitions for high school students.

On a broader level, the activities of the Center are directed toward larger goals, like poverty reduction and social justice. Given that the Center is based in Memphis, which has the highest poverty rate of any large metropolitan area in the US, and among the highest rates of unbanked and underbanked households, enhancing and broadening economics and personal finance education is crucial to improving the quality of life and financial sustainability of our area. The work of the Center continues to be generously supported by First Tennessee Bank, and maintains valuable partnerships with local non-profits like the Grizzlies Foundation and RISE Memphis, and also works with the Shelby County Trustee’s Office on the Bank On Memphis program.

This is another example of the impact our University is having by pairing with a community partner to improve the life of Memphis children and families, and as Director Campbell says, “taking economics to the people.”

Go Tigers!

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