The teaching of financial literacy through game-based approaches is legitimized by the ability of game-based learning (GBL) to simulate financial decisions that young people have not yet encountered in their lives due to limited legal capacity and economic dependence on the parental home. Although results on the general effectiveness of games are…

The authors survey the economic education programs and resources produced and supported by the Federal Reserve System: from K-16 professional development opportunities for teachers and professors, to free lesson plans, videos, online learning modules, and readings ready for the classroom. They provide the history, goals, context, and reach of the…

Teachers act as role models and through their activities are active co-designers of future generations. Independent thinking and taking responsible, sustainable actions form the basis for a vibrant society. Entrepreneurship skills can already be fostered in primary school children. This requires well-trained primary school teachers. The following…

Unlike historical and biological topics, economic topics are seldom dealt with in documentations on television. They are to be found in consumer advice programmes or recently in so-called help formats. Advice programmes of this kind which are based on the life story of a family or an individual person have meanwhile become an integral part of all…

Concerns about consumers' ability to manage their finances have triggered a range of proposals, including interventions aimed at elementary school students. The goal of these approaches is to improve lifelong economic decision making, but the evidence supporting their efficacy is thin. In this article, the authors discuss the trend toward…

This article studies the differences in student learning outcomes associated with changes in the format of online learning resources. We compare completion rates and degrees of student achievement across several economic education learning modules produced by the Federal Reserve Bank of St. Louis. Initially designed as a long-form online learning…

The "National Standards for Financial Literacy" describe the knowledge, understanding, and skills that are important for students to learn about personal finance. They are designed to guide teachers, school administrators, and other educators in developing curriculum and educational materials for teaching financial literacy. In this…

This paper contrasts the prevailing individualistic approach of financial literacy measurement and financial education with an educational framework that seeks to equip young people to play an active democratic role and to develop a broader understanding of the financial world. In particular, the framework suggests how important dimensions of…

High-stakes standardized tests in reading and limited instructional time are two powerful disincentives for teaching economics in the elementary classroom. In this article, integrating instruction in poetry and economic decision-making is presented as one way to maximize the use of scarce instructional time. Following a brief introduction to the…

The authors use data from a finance-related theme park to explore how financial education changes investment, financing, and consumer behavior. Students were assigned fictitious life situations and asked to create household budgets. Some students received a 19-hour financial literacy curriculum before going to the park, and some did not. After…

As the author researched the causes and implications of the current economic crisis, he came across numerous commentaries on how financial literacy was seldom taught (or taught well) in U.S. schools. This article, aimed at teachers and supervisors at all grade levels, describes some Internet sites that: (1) explain the collapse of the housing…

The Federal Reserve Bank of Chicago will host a conference, Financial Literacy, Financial Education, and the Federal Reserve: Strategies for Success, on September 11, 2009. This article reviews some of the financial education activities throughout the Federal Reserve System. The topics these initiatives cover include financial skill building,…

Previous studies have focused on how well students are learning economics, how teachers are trained, and other outcomes associated with improved understanding of economics. However, almost nothing is reported in the research literature on economics teachers' views of the curriculum, how they teach their subject, their views on public issues, and…

The problem of financial illiteracy at the high school level is becoming a growing pandemic in America. The current financial curriculum may not be preparing high school students against reported financial pitfalls. At the study site, high school students graduate without financial skills that may impact their future financial status. The purpose…

The Survey of the States is a bi-annual report that documents the state of economic, personal finance and entrepreneurship education in the fifty states (and the District of Columbia), conducted by the Council for Economic Education and sponsored by State Farm Insurance Companies. This report presents summary findings as well as state-by-state…