CEO Stories: Financial Education & Economic Literacy for the Next Generation

Since its founding in 1962, Economics Arkansas has impacted the lives of over 4.5 million children by teaching economic literacy. The organization is led today by Kathleen Lawson, Executive Director, and Marsha Masters, Associate Director.

TEACHING ECONOMIC LITERACY TO THE TEACHERS

With the goal of expanding financial literacy for students K-12, Economics Arkansas offers workshops around the state to give teachers a grounding in economics and help them understand how to integrate it into everyday curriculum. Associate Director Marsha Mason recalls the 10-day summer workshop she attended as a teacher as life-changing, because she, like many teachers, didn’t have a background in economics education and became empowered with the necessary knowledge and vocabulary.

COMPETITION KEY

As befits a program aimed to help students understand economics and capitalism, there is an annual awards program where teachers submit student projects, such as a the amusement park created by fourth graders who wrote a business plan and negotiated a hundred dollar loan from a local bank. An investing simulation called the Stock Market Game helps students learn about publicly traded companies, investing, and associated career opportunities. In Central Arkansas, the school district has had Shark Tank events where budding entrepreneurs pitch their ideas to judges. Even students as young as four are taught financial basics through the “Itty-Bitty Economics” program, incorporating songs, play, art and children’s literature.

THE GREAT EQUALIZER

In a state with great economic disparity – unemployment is around three percent up north while poverty is widespread in the southeastern delta region – education can help close the gap. Economics Arkansas has 15 educational service centers around the state where school districts can opt-in for training in central locations. After-school programs for students also boost participation and engagement and the goal is to increase those. The new partnership with Stephens Inc. to provide K-12 education around free enterprise is another way to scale impact statewide.