Financial Update (First Quarter 2008)

Economic and Financial Education a Key Goal for Atlanta Fed

students and teacher In today's fast-paced economy, the growing array of financial products and payment options makes it more challenging than ever for consumers to make informed choices and manage their finances effectively. This challenge is especially critical for students, who often lack practical experience in managing their money.

A Federal Reserve Board study from several years ago noted concerns that consumers may "lack a working knowledge of financial concepts and . . . not have the tools they need to make decisions most advantageous to their economic well-being."

Atlanta Fed ramps up education efforts
Recognizing the importance of such concerns, the Federal Reserve Bank of Atlanta is building on its efforts to promote economic and financial education.

Related
Atlanta Fed Economic Education
FRBA Teacher Workshop Calendar of Events
FR Board 2002 study on financial literacy
FR Board 2004 study on Fed personal financial education initiatives

A key feature of the Atlanta Fed's education plan is the District Education Team (DET), made up of economic and financial education representatives at the Atlanta Fed and its five branches. These staff members are charged with both strategic planning for and implementing teacher training, providing educational resources and public outreach programs, and nurturing strategic partnerships with educational organizations.

Reaching students by training teachers
One of the DET's most important tasks is providing professional development opportunities for middle school and high school teachers. The Atlanta Fed's main office and five branches offer a variety of workshops and events throughout the year that cover not only economics and personal finance but also topics in related disciplines such as social studies, family and consumer science, and business.

By providing teachers with a broader knowledge base and new skills, the workshops are ultimately geared toward better equipping students with good personal financial habits and a basic understanding of how the economy works.

March 25, 2008