History of Economic
Education in Georgia
Dr. David Martin
Executive Director
Georgia Council on
Economic Education
Georgia Council on Economic Education
Summit on Economic and Financial Education
Thursday, September 4, 2003
Beginnings
• Creation of the Chair of Private
Enterprise
• Junior Achievement
• Federal Reserve Bank of Atlanta
• Center for Business & Economic
Education, Georgia State University
• Developmental Economic Education
Program
Georgia Council on Economic Education
Summit on Economic and Financial Education
Thursday, September 4, 2003
Foundation
• Georgia Council on Economic Education
– Mills B. Lane, C&S National Bank, 1972
• Today’s Network
– 12 university-based Centers for Economic
Education
– 117 cooperating public school systems and
independent schools
Georgia Council on Economic Education
Summit on Economic and Financial Education
Thursday, September 4, 2003
Action in the form of
Course Requirements
Georgia Board of Education Mandate 1976
Three courses:
• Principles of Economics/Business/Free
Enterprise
• Personal Finance
• Career Education
Georgia Council on Economic Education
Summit on Economic and Financial Education
Thursday, September 4, 2003
Response in the form of
Additional Support
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Invest-In-America
Foundation for Economic Education
A-T-O (Figgie International)
National Science Foundation
local Chambers of Commerce
Hugh O’Brien Youth Foundation
Students in Free Enterprise
Agency for Instructional Technology
Georgia Council on Economic Education
Summit on Economic and Financial Education
Thursday, September 4, 2003
Response in the form of
Additional Support
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Distributive Education Clubs of America
Future Business Leaders of America
Future Farmers of America
Future Homemakers of America
Vocational Industrial Clubs of America
Vocational Opportunities Clubs of
America
Georgia Council on Economic Education
Summit on Economic and Financial Education
Thursday, September 4, 2003
Action in the form of
Formal Curriculum
• Quality Basic Education Act
• Quality Core Curriculum
– economics, personal finance and career
education objectives integrated
throughout the K-12 curriculum capped
by a required high school economics
course
Georgia Council on Economic Education
Summit on Economic and Financial Education
Thursday, September 4, 2003
Response in the form of
Additional Support
• Georgia Council introduces the
Stock Market Game
• Junior Achievement introduces in-class
programs such as Project Business and
Applied Economics
Georgia Council on Economic Education
Summit on Economic and Financial Education
Thursday, September 4, 2003
Action in the form of
State Assessments
• Iowa Test of Basic Skills
– at grades 3, 4, 5, 6, 7, 8
• 19% to 31% of test items are economics related
• Georgia High School Graduation Exam
– mandated economics course not included
• End-of-Course Test
– implementation delayed
Georgia Council on Economic Education
Summit on Economic and Financial Education
Thursday, September 4, 2003
Response in the form of
Additional Support
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Mini-Society®
AP Micro and Macro Economics
International Baccalaureate
Ag in the Classroom
Global Achievers
Foundation for Teaching Economics
Federal Reserve Bank of Atlanta
Georgia Council on Economic Education
Summit on Economic and Financial Education
Thursday, September 4, 2003
Response in the form of
Additional Support
• Georgia Consortium for Personal and
Financial Literacy
– founded by leaders from the
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Community Foundation for Greater Atlanta
Consumer Credit Counseling Service
Federal Reserve Bank of Atlanta
Georgia Council on Economic Education
Junior Achievement
Georgia Council on Economic Education
Summit on Economic and Financial Education
Thursday, September 4, 2003
Economics and
Personal Finance
Georgia Council on Economic Education
Summit on Economic and Financial Education
Thursday, September 4, 2003
1976 Mandates
• Principles of Economics/Business/Free
Enterprise
• Personal Finance
• Career Education
Georgia Council on Economic Education
Summit on Economic and Financial Education
Thursday, September 4, 2003
Principles of Economics
Mandate
Georgia is one of 14 states requiring
students to successfully complete a
course in economics in order to graduate
from high school.
Georgia Council on Economic Education
Summit on Economic and Financial Education
Thursday, September 4, 2003
Demandate
Personal Finance and Career Education
were demandated prior to full
implementation. The reasoning was that
these topics should be integrated across
the curriculum.
Georgia Council on Economic Education
Summit on Economic and Financial Education
Thursday, September 4, 2003
Different Origins
• Career Education – vocational
• Economics – liberal arts
• Personal Finance – Business Education
and Family & Consumer Sciences
Georgia Council on Economic Education
Summit on Economic and Financial Education
Thursday, September 4, 2003
Dropping the
Personal Finance Requirement
• Opportunity Cost
• Not a “rigorous course”
• Lack of a Champion
Georgia Council on Economic Education
Summit on Economic and Financial Education
Thursday, September 4, 2003
Personal Finance
Status Today
• Personal finance objectives infused
throughout the QCC (mathematics, social
studies, family & consumer sciences,
business education, and others)
• Mandated principles of economics course
includes personal finance applications
Georgia Council on Economic Education
Summit on Economic and Financial Education
Thursday, September 4, 2003
Personal Finance
Status Today
• Elective personal finance course in the
mathematics and business education
departments (in some districts a
requirement)
• Personal finance and career education
frequently included as middle school
exploratory courses
Georgia Council on Economic Education
Summit on Economic and Financial Education
Thursday, September 4, 2003
Vision
Students leaving school
prepared for their economic
roles as workers, consumers,
and citizens.
Georgia Council on Economic Education
Summit on Economic and Financial Education
Thursday, September 4, 2003
Economics is the
science of decision
making.
Georgia Council on Economic Education
Summit on Economic and Financial Education
Thursday, September 4, 2003
Mission
To help teachers teach economics
to students in the public and
independent schools of Georgia.
Georgia Council on Economic Education
Summit on Economic and Financial Education
Thursday, September 4, 2003