K-12 Financial and Economic Literacy Plan

Leader: Stacie Peterson

What: Financial and economic illiteracy has been recognized as a problem in Nevada. In response, the Nevada Legislature recently passed SB317, which now requires financial literacy to be taught in Nevada's K-12 schools. With regard to the pursuit of economic literacy, economics was added to the State of Nevada Social Studies standards in the late 1990s. However, tight budgets and an already packed curriculum have prevented much progress from being made to date at the K-12 level. It is not reasonable to expect that a new required course in personal finance or economics can be introduced into the K-12 curriculum any time soon. Rather, financial and economic literacy must be obtained by finding ways to teach the most important financial and economic concepts in existing courses.

Who: Project leader: Stacie Peterson Initial Team: Yiwen Zhang, Mark Glenn, Bill Heitman, Fred Jakolot, Sue Davis, Nancy Brown, Mike Escobar Project Secretary: Mark Glenn

How: Working with Washoe County School District (WCSD), a curriculum will be identified that can deliver basic financial and economic literacy in a manner that meets the standards to which the WCSD is held accountable. The classes that ALL STUDENTS TAKE will be identified that can serve as a conduit for delivery. The WCSD standards for financial and economic literacy will be mapped to these classes. Standards already covered in the classes will be noted, and strategies will be developed for covering the remaining standards not currently covered. For 12th grade, a 3 week unit will be implemented in WCSD government classes as an initial “capstone” for the program. Junior achievement will be implemented to cover grades K-6. For grades 7-11, a pilot program will be devised and implemented by a set of pilot teachers in pilot WCSD classrooms. Over time, the feedback obtained from this initial effort will be used to improve the program, and it will be expanded to provide EVERY K-12 student an education that allows basic financial and economic literacy to be attained. Also, the effort will be developed so the participating K-12 teachers obtain in-service credit useful for maintaining licensure.

When: During summer 2010, the 3 week 12th grade unit for WCSD government courses will be developed. By Fall 2010, a plan for using the Junior Achievement program to provide financial and economic literacy for grades K-6 will be developed. By September 2010, a plan for grades 7 to 11 should be developed, and pilot teachers identified. The initial program will be implemented during the 2010-2011 school year.

Metrics: A first success measure will be a list of WCSD teachers and administrators who have bought into this project by August 2010. A second measure of success is a completed curriculum, by August 15, 2010. Finally, the program will include a pre and post testing procedure that will enable the gain in financial and economic literacy achieved by the participating students to be measured. Any lack of success in the students will be used as feedback to improve the program, while the measured success in the students will provide the basis of promoting the expansion of the program to more schools, and eventually all schools.

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