Economics Education and Financial Literacy

Economics Education and Financial Literacy Objectives

The 2005 General Assembly approved Senate Bill 950, a bill directing the Virginia Board of Education to “establish objectives for economic education and financial literacy” to be required of all students at the middle and high school levels. As a result, the Code of Virginia §22.1—200.03 required the Board of Education to develop and approve objectives for economics education and financial literacy to be required of all students at the middle and high school levels to “further the development of knowledge, skills, and attitudes needed for responsible citizenship in a constitutional democracy.”

On April 26, 2006, the Board of Education adopted Economics Education and Financial Literacy: Objectives and Correlations to Mathematics and History and Social Science Standards of Learning and Career and Technical Education Competencies. These objectives are designed to “further the development of knowledge, skills, and attitudes needed for responsible citizenship in a constitutional democracy.” They are correlated to the Mathematics Standards of Learning, the History and Social Sciences Standards of Learning and the Career and Technical Education competencies.

Economics Education and Financial Literacy Expanded Pool of Teachers for Finance Course (excerpt from state superintendent's e-mail message sent 2/14/07)

In response to a 2008 executive order from the President of the United States, the Treasury Department engaged in two initiatives, MoneyMath: Lessons for Life 2 and the National Financial Literacy Challenge. MoneyMath is a four-lesson, 86-page curriculum that is written to national mathematics standards and is the second edition of a curriculum that has been used by teachers across the country for years. A direct link to MoneyMath is listed in the Resources section of this Web site. To find out more information about the Challenge, please visit www.flc.treas.gov or watch this Web site for information that will be posted this spring when contest guidelines are released.

Banking-at-School Partnership Programs

The Code of Virginia also authorizes the Department of Education to develop guidelines to facilitate the objectives of economics education and financial literacy through practical experiences.The Guidelines for Banking-at-School Partnership Programs and Related Practical Experiences were developed by a committee of representatives from the State Corporation Commission’s Bureau of Financial Institutions, the Virginia Bankers Association, the Virginia Credit Union League, and schools that participate in banking-at-school partnerships. The guidelines are intended to provide guidance in areas that should be addressed as new banking-at-school partnerships and related practical experiences are developed.

Personal Finance Course for the Modified Standard Diploma

The Board of Education has approved certain courses to satisfy the graduation requirements for diplomas in Virginia. These courses are listed at http://www.doe.virginia.gov/VDOE/Instruction/webcrses.html

A personal living and finance course has been approved to meet a mathematics requirement for the Modified Standard Diploma. The personal living and finance course may not be used to satisfy the mathematics requirement for the Standard or Advanced Studies Diploma. For the purpose of satisfying the requirement for the Modified Standard Diploma, a locally developed personal living and finance course may be based on either the Objectives for Personal Living and Finance approved by the Board of Education in April, 1999, and revised in 2006 or on the 2006 Economics Education and Financial Literacy: Objectives and Correlations to Mathematics and History and Social Science Standards of Learning and Career and Technical Education Competencies.

A list of resources arranged alphabetically and by topic is available for download.

Resources Arranged By Topic

Resources Arranged Alphabetically

Economic Education and Financial Literacy Content Vignettes for Teachers

In order to ensure that history/social science, career and technical education, and mathematics teachers have access to instruction in the content delineated in the objectives, the VDOE has produced a series of 35 video vignettes. Each vignette highlights a part of the content and are between 10 and 20 minutes long. Speakers/presenters in the vignettes are teachers or practitioners or university professors.

Click here to access the vignettes

If you have any questions, please contact Deborah Kiger Bliss, mathematics coordinator, Office of Middle and High School Instruction, by e-mail at Deborah.Bliss@doe.virginia.gov, or by telephone at (804) 786-6418 or Judith Sams, business & information technology specialist, Office of Career and Technical Education Services, by e-mail at Judith.Sams@doe.virginia.gov, or by telephone at (804) 371-0196.

Superintendent’s Memo INF #100 – May 5, 2006.

Virginia Jump$tart Coalition for Personal Financial Literacy

Office of Instruction Home|CTE Home