Economic Education/Financial Literacy
Economic education/financial literacy is the
integration of various factors relating to personal financial management
including: understanding financial institutions; using money; learning
to manage personal assets and liabilities; creating budgets; and any
other factors that may assist an individual in this commonwealth to be
educator, regardless of grade level or content area, can help prepare
our young people to navigate the increasingly complex financial
marketplace and make informed decisions about their money. The
Pennsylvania Department of Education is committed to having every
student in Pennsylvania graduate as an active and engaged citizen with
knowledge and skills to be gainfully employed and make intelligent
financial decisions for the future of Pennsylvania and the nation.
Current academic standards encourage integration of financial education
into the existing curricula.
Economic Education/Financial Literacy Academic Standards
Pennsylvania Academic Standards describe what students should know and
be able to do at specific points in time. The standards increase in
complexity and sophistication as students' progress through school. The
academic standards serve as a framework from which districts develop
their specific curriculum.
The Pennsylvania Academic Standards are part of the Standards Aligned System (SAS).
SAS is the Pennsylvania Department of Education's digital curriculum
and instruction resource site. SAS is comprised of six distinct elements
which provide a common framework for continuous student, teacher, and
school and district growth. The elements are Standards, Assessment,
Curriculum Framework, Instruction, Materials and Resources, and Safe and
Available on SAS are resources for teaching and developing high quality
economic education/financial literacy programs. The Pennsylvania
Academic Standards, which can be found on SAS, that relate to economic
education/financial literacy are:
Certification and Staffing Policy Guidelines (CSPG)
that pertain to economic education/financial literacy certification,
and course assignment include: CSPG 33 - Business, Computer and
Information Technology; CSPG 35 - Citizenship Education; CSPG 44 -
Family and Consumer Sciences; CSPG 49 - Marketing/Distributive
Education; CSPG 50 - Mathematics; and CSPG 59 - Social Studies.
Questions regarding certification requirements should be directed to the Pennsylvania Department of Education's Bureau of School Leadership and Teacher Quality.
Making Cents of Financial Literacy and Economic Education
Making Cents of Financial Literacy and Economic Education is an
e-blast newsletter. Each issue is designed with current topics and
trends for the educator interested in financial literacy, personal
finance education, and economic education. To have Making Cents of Financial Literacy and Economic Education delivered to your inbox please register in the Financial Education Learning Community on the Standards Aligned System.
Resources for Educators
Your Money's Best Friend:
is a website from the Pennsylvania Department of Banking for educators
and consumers about financial education topics. The Resources for
Educators section, contains links to curriculum, materials and
activities which give guidance and tools to help classroom teachers
integrate personal finance into their daily lesson plans.
National Endowment for Financial Education:
(NEFE) provides objective and credible information through its programs
and partnerships. The site continually evolves with the changing
financial climate, technological advancements, and societal trends to
meet consumers' shifting needs. All resources and teaching materials are
provided at no cost.
Take Charge Today: is
part of The University of Arizona's Take Charge America Institute for
Consumer Financial Education and Research which provides educators with
quality, ready-to-teach activity-based lesson plans at no cost to
Financial Education Biennial Report
In 2010, the General Assembly of
Pennsylvania passed Act 104 which charged the Pennsylvania Department of
Education and the Pennsylvania Department of Banking and Securities to
provide resource information on economics, economic education and
personal financial literacy to educators, public and private schools,
Act 104 of 2010 requires both departments to generate a joint report to
the governor and the general assembly on the status of economic
education and personal financial literacy programs in the commonwealth.
The report Economic and Personal Finance Education in Pennsylvania
outlines economic education and financial literacy programs and
achievements, new initiatives and recommendations for future program
The Task Force for Economic Education and Financial Literacy
Act 104, passed by the General Assembly in 2010, created the Task Force
for Economic Education and Financial Literacy consisting of nine members
from various backgrounds associated with finance and education. For two
years the task force examined trends and needs in K-12 economic
education and personal financial literacy, and considered funds to
support these activities.
The task force was tasked with making
recommendations to the governor and the general assembly regarding
legislative or regulatory changes to improve economic
education/financial literacy in the commonwealth.
The secretaries of the Pennsylvania
Department of Education and the Pennsylvania Department of Banking and
Securities jointly submitted the Report and Recommendations: Pennsylvania Task Force on Economic Education and Personal Financial Literacy in January of 2013.