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

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SPRING 2002 SEMESTER STOCK MARKET SIMULATION ENDS APRIL 19TH

Verona Area High School placed 1st in the state competition of the Stock Market Simulation program and will be going to New York City on May 9-10.  Brian Karcher, Luis Perez, Sean McKinlay and Austen  Portz were awarded the trip for increasing their $100,000 to $275,686.  They and their advisor, Ms. Tammy Arnol, will visit the financial district near Wall Street, follow a floor trader on the New York Stock Exchange to observe “the real thing”, visit the Statue of Liberty, Ellis Island and see a Broadway show.  The trip is underwritten by Midwest Express Airlines and Robert W. Baird & Co.

Verona Area High School 1st place team from left to right: Luis Perez, Austen Portz, Sean McKinlay, Brian Karcher and Advisor Ms. Tammy Arnol.

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FALL 2001TEAM FROM MARINETTE GOES TO NEW YORK CITY
Adam Stapel, Adam Starks, and their advisor Mr. Tim Stauss from Marinette High School spent March 7- 8 in New York City as winners of the fall Wisconsin Stock Market Simulation. They were accompanied by Jim Guenther, President, EconomicsWisconsin, and Tom Schmidt from Robert W. Baird & Co. The fall and spring statewide winners are awarded the trip courtesy of Robert W. Baird & Co. and Midwest Express Airlines. Thursday, March 7th, began at 6:00 a.m. at General Mitchell Field for the 8 a.m. flight to New York’s La Guardia airport. The group checked in at midtown Manhattan’s Club Quarters, a private hotel for business people, and then it was off to Battery Park, where the group successfully cleared security and boarded the boat to Liberty and Ellis Islands. The Statue of Liberty is closed due to the events of September 11th, but it is possible to go to the Island itself. A chance conversation with one of the Park Rangers on Liberty Island led to a rather tearful account of her shock and dismay as she witnessed the 2nd plane hit the 2nd Tower of the World Trade Center. Liberty Island has a picture of the skyline before September 11th, showing the Twin Towers, and one can observe the skyline as it exists now—without the Twin Towers. 

After a quick stop at Ellis Island, it was off to see the off Broadway show “Blue Man Group”. A lot of percussion, water, and colors, and an experience which was enjoyed by all. The evening concluded with dinner at Planet Hollywood near Times Square and a return to the hotel around midnight.

The next morning began with breakfast in the Bull and Bear Dining Room at the New York Stock Exchange (NYSE) with the Robert W. Baird & Co. Head Floor Trader, Bob Seeman.  Following breakfast, Mr. Seeman led the way to the Floor of the Exchange and the Opening Bell. The group was lucky enough to walk with Mr. Seeman on the Floor of the Exchange as he actually made trades. 

From the NYSE, it was off to “Ground Zero”, the former site of the World Trade Center - a somber experience for everyone. The group also visited a Manhattan Fire Engine Company, and Manhattan’s Rescue 1. Tragically, Rescue 1 had eight members of its station that still had not been found, in what remains of the World Trade Center. The Firefighters’ pictures are posted on the window of the station, another somber moment for everyone. The remainder of Friday was spent at the Empire State Building, lunch near Times Square, more sightseeing, and then off to the airport for the trip home. 

In summary, a wonderful, educational, hectic, and sometimes sad trip, that will be remembered for a long, long, time.

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STOCK MARKET SIMULATION RECOGNITION DINNERS
Each Semester, EconomicsWisconsin honors the top three senior and the top three junior division winners of the Stock Market Simulation program in each of eight regions throughout the state.  Those who increase their portfolio value the most are honored at a recognition dinner in their region.  The following were the Spring 2002 Semester winners:

• 1st in the State:  Verona Area High School

• 2nd in the State:  Stratford Junior High School

• 3rd in the State:  Stratford Junior High School

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TEACHERS CAN BE MILLIONAIRES
Teachers often worry about their future financial success.  And, college students often worry about large amounts of credit card debt and student loans.  The UW-Milwaukee Center for Economic Education and the UWM Office of Advising and Academic Services teamed up to offer a two-hour seminar entitled, “Teachers Can Be Millionaires Too”, on February 15, 2002.  The purpose of this workshop was to introduce future teachers to the basics of saving and investing.  It stressed basic principles of wealth building.  This was the second workshop in a series of such offerings to beginning teachers.

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EIGHT “BEAUTIFUL MINDS”
Two teams of high school students, one from Brookfield Academy and one from Sun Prairie High School, won the fourth annual Wisconsin Economics Competition on April 17 & 19 at contest sites in Oshkosh and Milwaukee.  EconomicsWisconsin organized this event, which was sponsored nationally by the Goldman Sachs Foundation and the National Council on Economic Education, and locally by A.O. Smith Corporation and RBC Dain Rauscher. The winning teams in each division earned the right to compete at the regional level of the Economics Challenge in Chicago on April 29th, sponsored by the Federal Reserve Bank of Chicago.  

Members of the Honors Division 1st place team were Brookfield Academy students, Hahna Fridirici, Mike Gardner, Blair Heuer, and Max Schleicher.  They were coached to the highest score of all teams competing statewide by their economics teacher Bruce Rottman.  Members of the General Division 1st place team were Sun Prairie H.S. students Doug Babcock, Jeff Kegel, Megan Farrell, and Erik Zuroski.  Their economics teacher and coach is George Conom. 

“These high school students represent eight ‘beautiful minds’ in terms of their knowledge, determination, and enthusiasm”, according to Dr. Lawrence Weiser, Program Director of EconomicsWisconsin and professor of economics at UW-Stevens Point.  Several of this year’s contest questions related to the theories of John Nash, winner of the Nobel Prize in economics and subject of the Academy Award winning film, “A Beautiful Mind.”  Professor Weiser directed the competition with the assistance of Dr. Mark Schug in Milwaukee and Dr. James Grunloh in Oshkosh.  

Twenty-five teams from fourteen Wisconsin high schools competed in this program.  Four students on each team were required to answer questions on microeconomics, macroeconomics, international trade, and current economic indicators.  Some of the events allowed students to collaborate with their team members to analyze economic problems.  The winning team members received trophies, medals, and cash awards. 

Other schools with teams in the Economics Competition in either the Honors or General Divisions were: Badger High School, Brillion High School, Brookfield Central High School, Catholic Memorial High School, Cedar Grove-Belgium High School, D.C. Everest High School, Fox Valley Lutheran High School, Kettle Moraine High School, Neenah High School, New Holstein High School, Pioneer Westfield High School, Shorewood High School and Xavier High School.

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NATIONWIDE ROLL-OUT OF FINANCIAL FITNESS FOR LIFE PROGRAM
On February 26, 2002, Bank of America and our national affiliate, the National Council on Economic Education (NCEE) officially launched Financial Fitness for Life, an innovative financial education curriculum that will help students from kindergarten to senior high school become skilled consumers, savers and investors.  This comprehensive program responds to the significant need for financial education by promoting active participation in the classroom, as well as parental involvement.

This first-of-its-kind educational program, the result of two years of extensive development, was underwritten by a $3.2 million grant from the Bank of America Foundation to the NCEE.  The program presents key concepts in economics and personal finance, in an easy-to-understand style, using real-life examples, to which students of all ages can relate.  To further enhance the appeal of the materials to young people, the Financial Fitness for Life curriculum tracks many of the basic exercise regimens that are followed in achieving “physical fitness.” 

The curriculum, based on national teaching standards, includes four student workbooks (for grades K-2, 3-5, 6-8 and 9-12), four parallel teacher texts and a unique set of parent guides covering every grade level.  An interactive CD-ROM and supporting Web site complement the Financial Fitness for Life curriculum.  A Spanish language version is in development. 

Kindergarten-age students can learn about managing money and making financial decisions from simple family activities, such as grocery shopping.  A fourth grader can learn how to pay monthly bills.  A seventh grader can help select the family’s next car through an uncomplicated cost/benefit analysis.  High school seniors can develop budgets to help them transition to adulthood.  These lessons can help parents review and learn the basics of finance and economic concepts as they help their children through the exercises. 

For more information, visit www.financialfitnessforlife.org

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WIN CASH PRIZES IN THE 2002 TEACHING AWARDS PROGRAM
For the past several years, EconomicsWisconsin has recognized outstanding efforts in economic education from Wisconsin teachers through the Robert W. Baird Excellence in Teaching Economics Awards Program for Secondary Teachers, and the Ameritech Excellence in Teaching Economics Awards Program for Elementary Teachers. 

With the deadline for submitting entries, June 1, 2002, fast approaching, we encourage K-12 Wisconsin teachers who teach economics in the classroom to submit their entries as soon as possible. In addition, if you know of any teacher who may qualify, we would like you to nominate that teacher.  We often hear about exciting projects and teaching strategies carried out by teachers who are hesitant to apply for an award.  We hope your nomination will encourage them to participate. 

Winning teachers in both the elementary and secondary program are honored at an awards ceremony where they are presented with an engraved crystal apple, a certificate, and cash prizes of: 

For information on these awards programs, and on how to enter or to place a nomination, please contact EconomicsWisconsin (414) 221-9400, the Center for Economic Education nearest you.

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THREE NEW  DIRECTORS ELECTED
New Directors were elected to the EconomicsWisconsin (Wisconsin Council on Economic Education) governing Board of Directors at its April 18th Board of Directors’ meeting.  Newly elected to 3-year terms were

• Mr. Eric Johnson of Strong Funds,

• Mr. Jack Kundert of the Wisconsin Department of Financial Institutions, and

• Dr. Alfonzo Thurman of the UW-Milwaukee School of Education.

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ECONOMICSWISCONSIN AND THE GOVERNOR’S TASK FORCE ON FINANCIAL EDUCATION
Governor Scott McCallum has appointed a statewide Task Force on Financial Education.  The objectives of the Task Force include identifying basic financial knowledge and skills, identifying existing successful efforts, assessing the adequacy of financial and economic education in Wisconsin, and making recommendations for improving financial and economic education in Wisconsin. 

Board member Dr. John Box officially represents EconomicsWisconsin on the Governor’s Task Force.  Other Board members on the Task Force include Mr. Kim Kindschi of the Wisconsin Bankers Association and Mr. Jack Kundert, Secretary of the Wisconsin Department of Financial Institutions, along with Dr. Mark Schug, Director of the UW-Milwaukee Center for Economic Education.  The Task Force is scheduled to complete its research and offer its recommendations to the Governor no later than July 22, 2002.

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AVRUM LANK SPEAKS TO THE TINSTAAFL SOCIETY
On April 24, 2002, the TINSTAAFL Society met at Friday’s Front Row at Miller Park to hear Mr. Avrum Lank of the Milwaukee Journal Sentinel speak about his recent experiences in China.  Mr. Lank provided a first-hand account of many of the difficult economic changes that are taking place in China.  TINSTAAFL teachers posed great questions for Mr. Lank.  

What is the TINSTAAFL Society?  Milwaukee area economics teachers Tim O’Driscoll of Arrowhead High School and Tom Fugate of Homestead High School joined up with Dr. Mark Schug of the UW-Milwaukee Center for Economic Education to form TINSTAAFL (There is No Such Thing As A Free Lunch) Society.  The purpose of the TINSTAAFL Society is to provide local economics teachers an informal forum to discuss common concerns regarding the high school economics course.  Two meetings are held annually.

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UWM CENTER HOSTS ENVIRONMENT AND THE ECONOMY CONFERENCE
Wisconsin teachers will meet from May 4 - 7, 2002 to study the environment and the economy.  This program, sponsored by the Foundation for Teaching Economics, EconomicsWisconsin and the UW-Milwaukee Center for Economic Education, stresses how market forces may be used to help solve environmental problems.   

National speakers include Donald G. Fell, Florida Council on Economic Education, Robert Reinke, South Dakota Council on Economic Education and Donald Wentworth, Pacific Lutheran University.  A highlight of the course is a daylong visit to the UW-Milwaukee WATER Institute where the teachers learn about the economics of water from Dr. William Holahan, UWM Department of Economics, and study issues regarding the Lake Michigan Fishery and Wisconsin’s growing aquaculture industry.

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HOFER VISITS THE UKRAINE
Dr. Tracy Hofer, Associate Director of UW-Stevens Point Center, traveled to the Ukraine last semester to help promote economic education. Her trip was sponsored by the National Council on Economic Education's Cooperative Education Exchange Program, the U.S. Department of Education and Department of State. The exchange program helps international partners reform their educational systems that are often unprepared to teach basic free market principles.  Hofer will set up a Web site about her trip in the coming months and plans to make a second trip sometime in the next two years

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QUOTES & COMMENTS
In a letter enclosed with his financial contribution to EconomicsWisconsin, former school teacher Charles F. Schuknecht remarks: 

“Having just retired June of 2001 after thirty-six years of teaching social studies all at Chilton High School, I appreciated all of the materials given to me and conferences that I have attended throughout the years that helped me improve my teaching of economics in the classroom.  I was even successful in getting the Chilton School Board to make a semester of economics a required course for all juniors since 1999.” 

“Working with Dr. Grunloh and Dr. Schug has been particularly rewarding.  I count them as good friends who have as their basic goal to improve the number of students taking economics and the improved instruction of the subject to as many students as possible in the state of Wisconsin.” 

In a note card from classroom teacher, Caroline Perkins, to Jan Isbister (Director, Stock Market Simulation): 

“Thank you so much for traveling to Hayward to present the Stock Market Simulation. The few hours spent listening were well-worth it.  I was inspired to go back to my classroom and teach more Economic Mysteries and begin the Simulation.  My eighth-grade students are loving it.  It is real-life, and they are hungry to learn more about it.  Thanks again.”

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ADVERTISING OPPORTUNITIES
Want To Reach More Than 4,500 Teachers, Administrators, And Business Leaders?  Advertise In Our Quarterly Publication.  Call our office at 414 / 221-9400 

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Please Help Us     
EconomicsWisconsin (Wisconsin Council on Economic Education) is a privately funded, non-profit, non-partisan educational organization founded in 1963, whose goal it is to educate students, parents and teachers about everyday economic decisions.  Our work is carried out through nine Centers for Economic Education located throughout the state of Wisconsin.  We are affiliated with the National Council on Economic Education (NCEE).

Contributions to EconomicsWisconsin are tax-deductible.  To help promote the cause of economic and financial literacy throughout Wisconsin, please make your check payable 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