A Publication of the Wisconsin Council on Economic Education, for Educators, Contributors, & Friends of  Economic Education

IT’S HERE!!! FREE ONLINE
TEACHER TRAINING FOR THE STOCK MARKET SIMULATION
EconomicsWisconsin is extremely pleased to announce the realization of a long-term goal. Since 1989, EconomicsWisconsin has offered face-to-face teacher training for the Stock Market Simulation (SMS). Approximately 16 times per year, Jan, SMS Director, jumps into her trusty vehicle and takes off for all parts of our state to conduct these free, four-hour workshops on how to use the SMS for teaching about economics and our market economy. Attendance at one of these workshops has been mandatory in order for a teacher to participate in the Stock Market Simulation. We all know, however, that everyone is busy and can’t always partake of the face-to-face training. In addition, while we make every effort to centrally locate these training sessions, it is not uncommon for teachers to drive an hour or more to attend. Now, teachers can learn how to use the Simulation, at their convenience, online from their homes or schools. Please also be aware that the face-to-face training sessions will continue if you prefer that method of learning. 

Sign up for the Online Training,  or for more information, contact Jan at (414) 221-9785. CEU’s may be available for this training.

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WISCONSIN $1,000,000 CHALLENGE
In addition to our regular 10-week Stock Market Simulation (SMS) Program, we have added a new “Wisconsin $1,000,000 Challenge” competition.

This new and separate program runs approximately seven months, from October through April, and is open to all Wisconsin SMS students.  It stresses a longer investment philosophy with fewer trades and no borrowing or buying on margin allowed.

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TEACHERS HONORED AT  GOVERNOR’S FORUM
Awards for the 2002 Excellence In Teaching Economics Secondary Teachers Awards Program were presented by Robert W. Baird & Co. (Baird) and EconomicsWisconsin at the 17th Annual Baird Governor’s Forum Luncheon. Governor Scott McCallum, Jim Guenther, President of EconomicsWisconsin and G. Frederick Kasten, Jr., Baird’s Chairman, presented the awards to the winning teachers.  “We are pleased to celebrate excellence in teaching economics, a subject so important to understanding the fundamentals of capitalism,” Kasten said. “We look forward to continuing the dialogue between leaders in education, government, media and business.”  Governor McCallum was the Forum’s main speaker, outlining his vision for Better Jobs for a Better Wisconsin.  Approximately 500 southeastern Wisconsin business and community leaders attended the Forum, held at the Midwest Express Convention Center on August 29th.

First place award recipient was Les Chambasian of Horlick High School in Racine, for his entry entitled Personal Finance Project. Chambasian won the traditional engraved crystal apple and $2,000.  Second place award recipient was Rita Riordan of Appleton North High School, for her entry entitled Personal Financial Management. Riordan received an engraved crystal apple and $1,000.  Third place award recipient was Timothy Strang of Shullsburg Junior High School, for his project entitled I Can Be a Millionaire!?. Strang received an engraved crystal apple and $500.

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SMS DISTINGUISHED ADVISOR AWARD

On July 24th, our 2002 Robert W. Baird & Co. SMS Distinguished Advisor award winner, Tim Strang, Shullsburg JHS, joined Richard Grasso, President of the NYSE, Murray Teitlebaum, Director of Educational Services at the NYSE, and other teachers from across the nation, in ringing the closing bell of the New York Stock Exchange. Tim was attending a weeklong seminar at the NYSE, Wall Street, as part of his award for being Wisconsin’s SMS Distinguished Advisor of the Year.  He will also be honored at the EconomicsWisconsin Annual Board of Directors’ meeting at the University Club in Milwaukee on October 24, 2002.  Robert W. Baird & Co. sponsors this annual award, which includes the seminar expense, a stipend to the teacher and the Annual Meeting recognition ceremony.

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GOVERNOR’S COMMENDATIONS AWARDED
Thank you to the following companies, individuals, and foundations being awarded this year for their longtime financial support of EconomicsWisconsin.  Receiving commendations signed by Governor Scott McCallum are:

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GOVERNOR SPEAKS AT JULY BOARD MEETING
On Thursday, July 25, 2002, the Board of Directors of EconomicsWisconsin was honored to have Governor Scott McCallum as its featured speaker. Governor McCallum spoke of the necessity for financial literacy in our schools, and Wisconsin’s signing on to the settlement of a lawsuit with a major brokerage house, potentially bringing nearly $825,000 to the State of Wisconsin, part of which would be used for financial education. 

In addition, Chairman Dan Vliet presented Governor’s Commendations to the following supporters of EconomicsWisconsin:  Terri Haas, representing Director Mal Hepburn, for over 10 years of support from the Ozaukee Bank Educational Foundation; Director Mike Gillilan for over 10 years of support from RBC Dain Rauscher Foundation; Director Don Wilson for over 10 years of personal support, Director Cliff Henrickson for over 10 years of personal support and for over 35 years of support from Robert W. Baird & Co.; George Thompson, representing Director Todd Teske, for over 35 years of support from Briggs & Stratton Corporation Foundation. 

This Board Meeting was hosted by Foley and Lardner (Director Emory Ireland), in its beautiful 40th floor conference room. 

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PROJECT AND PROGRAM SUPPORTERS
A special thanks to the following organizations for their recent contributions to EconomicsWisconsin: 

State of Wisconsin-Department of Workforce Development, for sponsorship of our Stock Market Simulation Online Teacher Training Workshop; Northwestern Mutual and Wausau Insurance Companies, for each hosting a Spring 2002 Stock Market Simulation recognition banquet; AnnMarie Foundation, for support of a Mathematics & Economics: Connections for Life workshop at our UW-River Falls Center for Economic Education; Fortis Health, for printing services; H2D, for graphic design services, CUNA Mutual Group, for support of a Financial Fitness for Life Workshop at our Edgewood College Center for Economic Education; and the National Council on Economic Education, for support of various programs through funding from the 3M Foundation, Goldman Sachs Foundation, UPS Foundation and others.

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NELSEN AND SYBURG TO CO-CHAIR FUNDRAISING COMMITTEE
EconomicsWisconsin has amended its bylaws to include a new Fundraising Committee to be co-chaired by Directors Jim Nelsen and John Syburg. Fundraising has become more difficult in the past two years because of the economy in general, and the effects of September 11th.  The Executive Committee reasoned that because fundraising is more difficult, it is necessary to engage the networking abilities of all of our Directors to continue our important mission.

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TWO NEW DIRECTORS ELECTED
New Directors were elected to the EconomicsWisconsin (Wisconsin Council on Economic Education) governing Board of Directors at its July 25th Board of Directors’ meeting.  Newly elected to 3-year terms were Kathleen Goldammer-Copeland of Morgan Stanley and Steven Schneider of Strong Retirement Plan Services. 

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SCHUG NAMED SENIOR FELLOW
Dr. Mark Schug, Director of our UW-Milwaukee Center for Economic Education, has been appointed Senior Fellow of the National Council on Economic Education (NCEE), effective September 1st.  Dr. Schug will serve in this half-time position for an initial period of one year, and will continue on as Director of the UW-Milwaukee Center.  In this new role, Dr. Schug will manage specific program and publication development projects, and will work with other NCEE staff on overall instructional and curriculum development and publications.  We wish Mark all the best in his new endeavor.

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PERFORMANCE BEST EVER FOR MILWAUKEE YEA 2002
Twenty-three MPS high school students attended a 10-day summer program entitled the Youth Enterprise Academy (YEA) at the UW-Milwaukee Center for Economic Education, under the direction of Dr. Mark Schug.  Students learned basic principals of personal finance including saving, investing, credit, and the importance of getting a good education.  Students played the role of stock analysts and studied two - three companies using the National Association of Investors Corporation Checklist to make recommendations about whether a hypothetical client should buy, hold, or sell the stocks in each company.  The course also emphasized basic economics.  Students participated in several activities to learn such basics as scarcity, opportunity cost, the laws of supply and demand, price, shortages, surpluses, basics of monetary policy, and how to reason economically.  These Milwaukee 9th and 10th grade students came from Bay View, Custer, Hamilton, King, Milwaukee School of the Arts, North Division, Riverside and Washington.  All students were from families of low and moderate income and most were minority. 

Highlights of the YEA included a parent orientation attended by over 30 students and parents, and a trip for students to the Chicago Board of Trade and the Federal Reserve Bank of Chicago.  The students from these eight MPS high schools completed the course and each received a $500 U.S. Savings Bond. 

This year’s performance evaluation was the best ever.  The average gain on a test of economics was 17.2%.  The average gain on a test of personal finance was 16.2%.  An attitude survey posed the question:  “Overall and in summary, I believe that the market system in the United States is a fair and ethical system.”  The average score on this item indicated an increase of 16.0%.   

Sponsors of the Milwaukee YEA are the Bradley Foundation, Department of Public Instruction, and the Helen Bader Foundation. 

In addition, a second Youth Enterprise Academy was held this summer at the Edgewood College Center for Economic Education in Madison, under the direction of Professor Bill Duddleston.  Sponsors of the Madison YEA are the Madison Community Foundation and the Ameritech/SBC Foundation.

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TWO YOUTH ENTERPRISE INVESTMENT CLUBS ESTABLISHED
With support from Strong Funds and the Nicholas Family Fund, two new Youth Enterprise Investment Clubs are being set up in September 2002.  Youth Enterprise Investment Clubs are composed of students selected from the Youth Enterprise Academy.  A Youth Enterprise Investment Club manages a Youth Enterprise College Fund -- a fund with an initial value of $2,000 per student, or $10,000.  

The goal of a Youth Enterprise College Fund is to increase the value of the fund to cover most or all of the first year of tuition at a typical college or university.  When a member of the Youth Enterprise Investment Club graduates from high school, he or she can designate that his or her share of the fund be paid to the post-secondary education institution to which the student is enrolled.  Members of four clubs have already graduated and are now in college.

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TEACHER TRAINS IN LITHUANIA
Congratulations to Mark Cywinski, a teacher from the Brown Deer School District, for being selected to participate in the National Council on Economic Education’s Training of Writers program.  This program, which will train writers of economic education materials, takes place in September in Vilnius, Lithuania.

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CENTERS HOST WI INSTITUTE ON FINANCIAL & ECONOMIC EDUCATION

Over 80 Wisconsin teachers attended an Institute on financial and economic education this past summer hosted by UW-Milwaukee (Dr. Mark Schug) and Edgewood College in Madison (Professor Bill Duddleston).  Featured topics included:

• How to really be a millionaire
• Why people don’t save more
• Risk & reward: Alternatives for saving & investing
• Basics of a market economy
• Insuring your future

This program was the result of the efforts of several organizations including EconomicsWisconsin, Wisconsin Jumpstart Coalition, CBM Credit Foundation, Wisconsin Bankers Association, American Express, Federal Reserve Bank of Chicago, and several others.  Guest speakers came from American Family Insurance, Northwestern Mutual, Thrivent Financial for Lutherans, American Express Financial Advisors, NorthStar Economics, Office of the Commissioner of Insurance, Department of Financial Institutions, and the Federal Reserve Bank of Chicago. 

Evaluations of the Institute were very positive.  One teacher said, “Super seminar! This seminar allowed me to update my financial knowledge.  The speakers were very motivating and provided excellent classroom resources.”  In addition, five observers of the Institute from West Virginia, plan to replicate the program in their state. 

Plans are underway to expand the program for summer of 2003.

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STUDENTS HAVE FUN WHILE LEARNING ABOUT THE ECONOMY
The Economics Poster Contest, sponsored by the Federal Reserve Bank of Chicago, is a way for   1st –  8th grade teachers to stimulate interest in the fundamentals of our economic system, to help students have fun while learning about the economy, and to give students an opportunity to creatively demonstrate their understanding of key economics concepts.  Students are asked to illustrate one of the following concepts in poster form – producers & consumers, opportunity cost, scarcity, productive resources, goods & services and specialization.  12 statewide winners each received a $50 U.S. Savings Bond.  The statewide winners were then entered into the 7th District Federal Reserve Bank’s Calendar Competition. 

The 2002 statewide winners are Shivani Verma, Ashley Gabrus, Amanda Curry, Megan Riley, Jennifer Eberhardy,  Ryan Dashek and Shawn Burns, all from Forest Park Middle School in Franklin, Precious Jones and Jackie Bernard of Milwaukee Urban League Academy of Business & Economics, Alaina Schaefer of Saylesville Elementary School in Rubicon, Sonja Funnell of Carl Traeger Middle School in Oshkosh and Eve Funnell of Oakwood Elementary School in Oshkosh. 

Sonja Funnell, Eve Funnell, and Megan Riley went on to win the 7th District Federal Reserve Bank’s Calendar Competition.

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GOVERNOR’S TASK FORCE ON FINANCIAL EDUCATION MAKES RECOMMENDATIONS
The Governor’s Task Force on Financial Education  submitted its final report in August, 2002. The goal of the report, ultimately, is to improve the financial literacy of Wisconsin youth. 

The Task Force made a total of nine recommendations.  Recommendations call for changes in standards in schools and indicate where to integrate financial education in the K-12 curriculum, formation of a public/private consortium that would promote and assist in the implementation of financial education in Wisconsin, and ways to provide increased flexibility to Wisconsin teachers to better allow them to become involved in teaching financial education.  The report also spells out a role for communities and families. 

We would like to thank all Task Force members for their efforts, especially EconomicsWisconsin Board members Dr. John Box, Kim Kindschi and Jack Kundert, along with UW-Milwaukee Center Director, Dr. Mark Schug. 

For more information on the Task Force, and to view the Governor’s Task Force On Financial Education Final Report, August 2002, visit the Department of Financial Institution’s Website at www.wdfi.org/ymm.

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WE NEED YOUR E-MAIL ADDRESS
If you would prefer to have the EconomicsWisconsin newsletter, Update, emailed, instead of mailed to you, please notify us by sending an email to wicnclee@ameritech.net.

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Please Help Us     
EconomicsWisconsin (Wisconsin Council on Economic Education) is a privately funded, non-profit educational organization.  Our goal is to improve economic and financial literacy for the students, parents and teachers of Wisconsin. 

EconomicsWisconsin carries out its mission through eight Centers for Economic Education, where teachers attend workshops, seminars and credit courses to improve their confidence and competence in teaching economic and financial literacy.  Our Center locations are: 

• St. Norbert College, De Pere

• UW-La Crosse

• Edgewood College, Madison

• UW-Milwaukee

• UW-Oshkosh

• UW-River Falls

• UW-Stevens Point

• UW-Whitewater 

EconomicsWisconsin also promotes economic and financial literacy through its many programs which include, the Excellence in Teaching Economics Awards for elementary and secondary teachers, the Economics Competition for high school students, the Stock Market Simulation (SMS) for K-12 students, the SMS Distinguished Advisor Award for teachers of the Simulation, the Economics Poster Contest for 1st-8th grade students, the Youth Enterprise Academy for 9th-10th grade students and the Taylor Scholarship for Excellence for future economics teachers. 

Contributions to EconomicsWisconsin are tax-deductible.  Your support may be used for general funding purposes, or you may designate a Center in your part of the state whose courses and workshops you wish to support. 

To make your contribution, please call our office at (414) 221-9400, or mail your check to:

EconomicsWisconsin
Wisconsin Council on Economic Education
7635 Bluemound Road, Suite 106
Milwaukee, WI 53203
(414) 221-9400
Fax (414) 221-9790
econed@economicswisconsin.org