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LIBRAQY
Economic Education New-sletter
NOV 1 2 191W
INNOVATIVE WORKSHOPS:
SPECIAL
NEEDS
o n e, tha nking them for their
visit to the Fed.
A similar program can be
schedul ed on request for other
S p ec ia l ee d s group s. Interes ted teach ers should call the
F e d e r a I R eserve to make
a rrangements for the program
to be held a t the Bank or a t the
school.
Several staff members a t the
Boston Fed had a particularl y
m emorabl e edu ca tion al experience when 19 menta ll y ret a rd ed s tud e nts from South
Boston High Schoo l visited the
Ba nk o n September 28th . Their
prog r a m u sed puppe ts a a
teaching tool.
Ot her sk i ts illu stra ted
m o n ey's fun c t io n s as a store
a nd sta ndard of value. In each
case, th e children and p uppets
di sc u sse d m o n ey's ch arac teri stics a t leng th .
Th e s tud e nts we re introdu ced to key concepts about
m o ney - its form s and fun cti o n s - thr o u g h a se ri es of
"skits" with the puppets.
After a n un uccessful a tte mpt to ba rte r a toothbru sh
for an a pple, a hungry puppet
consulted the children to learn
wh a t mig ht be a better m edi um of exchange. T he students
su gges ted money, giving reason s wh y it is more accepta ble
th a n a toothbrush .
To teac h a bou t ban k fun ctions, th e discuss ion a nd pupp e tr y were suppl e m ented by
cr ayo n -co lor in g o f ca rtoons
exp la ining ba nk activities. The
s tud e n ts pa rti cipated enthu sia ti ca ll y th roughout the
p rogram.
Before clos in g the sessio n,
th e " p res iding puppet" interv i ewed th e s tud e nt s o n e b y
TEACHERBANKER
In res ponse to growing community interest in banking a nd
economics, th e Federal Reserve
Ba nk o f Bos ton sponsored a
T eacher-B a nker Economic Edu ca ti o n W ork shop on M a y
1 l th . T h e d ay's ac t1 v1ues
brought together teachers a nd
ba nkers from ten communities
to discuss m eth ods o f streng the nin g economic education effo rts in th e public school .
Th e 20 p a rticipa nts played
You're Th e Ban ker, a banking
i m ul a tion ga m e. Th e im ul a tion broug ht a bout a n inte n s ive di sc u sio n of th e imp ac t o f ba nk le nding on the
o mmunit y'
eco nomic development. T he game erv d as
a c h a nn el o f communi a tion
be tw ee n teachers and bankers
th a t emphasized their common
interes ts.
Comi nucd o n page 4
Federal Reserve Bank of Boston Vol.3, No.2• Oct. 1976
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Nevv England Update
MASSACHUSETTS
North Dartmouth, MA 02747,
(617) 997-9321.
Thirty-five teachers, representing 17 school systems, participated in the economic education workshop for
elementary school faculty
members held August 2-20 at
the Center for Economic Education, Tufts University. The
workshop was designed to help
teachers incorporate economic
facts, concepts, principles,
problems and analysis into the
social studies curriculum. The
Center is also planning to offer
2 economic education courses
at Tufts this fall. For further
information contact George
Watson, Lincoln Filene Center,
Tufts University, Medford
02155, (617) 682-5000, ext. 353.
In-service economic education
workshops will be offered this
fall by the Center for Economic Education, Boston University, in Cohasset (elementary
and secondary), Scituate (elementary), Carlisle (elementary),
and Lesley College, Cambridge
(elementary). For further information contact Kenneth Sheldon, Center for Economic Education, Boston University,
Boston 02115,(617) 353-3253.
Twenty-seven Greater Boston
secondary school teachers attended a workshop at Northeastern University's Henderson
House Management Center in
Weston, July 12-23. Called
"The Role of Business in Contemporary American Society,"
the workshop was offered for
graduate credit and was sponsored by the Boston Chapter of
the Financial Executives Institute. With a faculty of 40
businesspeople and academics,
the students were exposed to
current economic and business
concerns. In addition to
classroom work, the students
were organized into teams
which utilized business sites to
develop ten short decisionmaking cases following the
procedures developed by the
Business History and Economic Life Program, whose
national coordinator, Dr. Paul
H. Tedesco of
ortheastern
University, was the director of
the workshop. Information
concerning the case , which
will be published in casebook
form, and next year's workshop can be obtained from
Professor Tedesco, 219 CU,
Northeastern University,
Boston 02115.
The Center for Economic Education at Stonehill College,
North Easton, in cooperation
with the Attleboro school system, is planning an economic
education workshop for secondary school teachers October
5-December 7. The workshop
wil l be offered at Attleboro
High School on Tuesdays from
3:30-6:00 p.m. For further information contact Louise Trudell, (617) 226-20 I 0.
A new Center for Economic
Education has been established
at Southeastern Massachusetts
University, North Dartmouth,
under the direction of Dean
Richard Ward. For information about the Center contact
Dean Richard Ward, SMU,
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
MAINE
On 1ovember 6 and December
4 the Maine Council on Economic Education will hold follow-up workshops for elementary and secondary school
teachers who participated in
the Council's summer workshop. At the one-day sessions
teachers will discuss the
classroom use of activity material prepared during the summer session. For further information, contact George
Cunningham , 22 Coburn Hall,
University of Maine, Orono
04473, (207) 581-7067.
NEW HAMPSHIRE
"This Economic World of
Ours" was the theme of the
July 26-August 6 economic
education workshop sponsored
by the New Hampshire
Council on Economic Education. Professor Charlotte Harter of Oregon State University
discussed such topics as the
economics of energy, money
and banking, jobs and income,
and the consumer in the economy . Twelve New Hampshire
teachers participated in the
workshop.
At the May meeting of the
Council, deep appreciation and
sincere thanks were extended to
CI if ford Thatcher, former
chairman of the New Hampshire Council on Economic
Education, for his devoted interest in and work for the
Council over many years. Mr.
Thatcher will remain a member of the Council's Board of
Directors. Robert L. Mixer,
vice president of Concord National Bank, was elected
chairman for 1976-77.
RHODE ISLAND
Dr. Robert Levine, deputy director, Congressional Budget
Office, was guest speaker at the
Rhode Island Council on Economic Education "Government
and the Economy" seminar
he 1d in May. Dr. Levine
discussed the history of the
budgetary process and the
responsibilities of the Budget
Office.
Three economic education
courses are being offered by the
Cou ncil this fall: "Concepts in
Economic Education," "The
Real World of Business as a
Medium for Economic Education, " and "Consumer Economics." For information contact John Sapinsley, Center for
Economic Education, Rhode
Island Co ll ege, Providence
02908, (401) 831-6600.
Multi-Media
Grad e level code: C ap i t a l le ll ns
( E-J-f-1-C ) aft n ea ch it em indicat e
grad e leve ls f o r w hich th e materials are
most appropr iate: E-elmientary school,
]- j unio r hig h sc h ool, f-1 - high school,
C-co llege.
The American Economic System . . . and your part in it. ,
( H), 20 pages , describes in
easy-to-understand language
basic economic concepts that
affect decisions made by consumers, producers and government. Colorful " P eanuts"
illustrations enhance explanations of supply and demand, prices, G P and economic issues. Prepared by the
Advertising Council and the
U.S. Dept. of Commerce in cooperation with the U.S. Dept.
of Labor, single copies may be
obtained free of charge by writing " Economics," Pueblo, CO
81009. For information about
bulk copies contact: The Advertising Council, Inc. , 825
Third Ave., Y, NY 10022.
The Goodyear Tire & Rubber
Company Annual Report 1975,
"Economic Education Edition," (H), 40 pages, has been
specially designed to help stu dents interpret annual reports.
The edition contains eight special inserts that define commonly used terms appearing in
annual reports, e.g., " depreciation," "working capital," "net
income. " Each section of the
annual report is carefully described, and the booklet is colorfu ll y illustrated. Limited
copies of the special " Economic Education Edition" may
be obtained free of charge by
writing to th e Public Relations
Dept., The Goodyear Tire &
Rubber Co., 1144 East Market
St., Akron, OH 443 16.
Reprinted from " Wh a t l s Mon ey?'.
Annual Report s for Young
People, 1973-75, by Wheelabrator-Frye , Inc., (E-J-H).
These three reports deal with
what a major company does
with its money - from paying
its employees and suppliers to
the dividends paid to stockholders. They introduce a variety of economic ideas such as
the flow of money and goods
and services , investment and
growth . Wheelabrator-Frye is a
New Hampshire-based company that produces pollution
control equipment and also
deals with graphics products.
For copies contact: Shareholder
Relations Dept. , WheelabratorF rye, Inc., Liberty Lane,
Hampton, NH 03842.
What is Money?, 12 pages, (JH ), a booklet that explains in
an innovative and exciting way
the function, history and uses
of money. Scattered throughout the text are puzzles, games
and a variety of learning activities for students to complete.
Also discussed are the banking
system , credit, checks, budg e ting and money management. 1976. Prices are availabl e
from Money Books Publishing
Co., Inc., P.O . Box 93 ,
Chestnut Hill, MA 02167.
R e printed from " An Annu a l Report for
Yo ung Peop le"
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Credit Points, (J-H), 24 pages,
by Kimberl y Ryan. A booklet
about the major credit laws
that have been passed in recent
years . The cartoon-illustrated
publication discusses the major
points of Truth-in-Lending,
Equal Credit Opportunity,
Fair Credit Billing and the
Fair Credit Reporting Acts and
describes consumers' rights and
protection in the area of
consumer credit. 1976. Copies
are available free of charge
from the Bank and Public Information Center, Federal R eserve Bank of Boston, Boston,
MA 02106.
American Enterprise, (H) , by
Phillips Petroleum Company,
1975. Series of five films, each
presenting a different aspect of
our economic history. The five
points of vi ew are " Land,"
" People," " Innovation ," "Organization ," and "Governm ent." For example, " Innovation" is about " the people
who dreamed up the crazy
inventions everyon e laughed at
. .. . th en bought. " Each film
can be used se parately, or as a
series, a nd is accompanied by a
teacher' s guide. Although the
series was commissio n ed by
Phillips , there is no mention
of the oil industry. Each film
is about 30 minutes. For further information , contact:
Mod e rn Talking Picture
Service , Inc. , 2323 ew Hyde
Park Road , New Hyde Park,
NY 11040.
WORKSHOP
Teachers and bankers seemed to enjoy the idea of pooling
th eir educational resources to
enric h eco nomi c education
training. Students who are better prepared to understand economic issues in the community
are likely to make better community - and personal - decision s in the future.
Continued from pa ge I
Teachers currently interact
with bankers in a variety of
ways, both in and out of the
classroom setting. Many bankers provide speakers for school
programs and aid teachers in
the planning of units on
banking. Some bankers supply
training kits for classroom
study of personal finance
topics , suc h as check-writing
practice.
Teachers and bankers from Needham and
Lexington exchange loan advice while
playing a banker simulation game. Left to
right , Hugh Gallagher, Needham High
School ; S teve Spitz, Shawmu t Needham
Bank , Wellesley; Paul Bartel, Shawm ut
County Bank, NA, Lexington; and George
Carr, Jonas Clark Junior High School,
Lex ington.
Through Project LINC
(Learning /n Community, see
THE LEDGER , vol. 1, no.l ,
April 1974), Quincy (MA) students working on a banking
unit co_m bine classroom investigation of banking con cepts with on-site observation
of daily bank functions to test
the relationship between theory
and practice.
Frequently , bankers provide
tours of their institutions to increase students' understanding
of bank functions and to introduce students to career possibilities. Sometimes arrangements can be made for students
to accompany individual employ ees through their duties
for a day , giving stude nts a
close look at specific jobs.
At th e workshop, teachers
introduced a number of ideas
for furth er cooperative efforts.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Phyllis Prendergast, officer at the Hudson
National Bank , di sc u sses a loan applica tion , part of "You 're The Banker," with
Mar y Sullivan, a te ac her at ActonBoxborough Regional High School.
They suggested that banks, as
sources of information about
th e community, cou ld be valua b 1e r e s o u rce centers for
students working on case studies a nd loca l histories . Bank
internships, in which students
receive school credit depending
upon job performance, could
provide valuable career exp erience and encourage res pon s ibl e a ttitudes toward
work.
Th e L edger compil es informa ti o n from
va rious sources and is publish ed as a
pub li c se rvi ce by th e Federal Reserve
Bank of Bos to n. In clus ion of n e ws
about econo mi c educa tion should no t
necessari Iy be con strued as an endorsement o f specific programs by th e
Bank . Mat erial conta ined here in does
no t necessaril y refl ec t the views o f the
Federal Reserve Bank of Bosto'l or the
Board o f Gove rn o r s. Co pi es of this
news leu er and a catalogue of other educa ti o nal publication s, films and published resea rch inform a tion may be obtained free o f charge by writing Bank
a nd Public Inform a ti o n Ce nter, Federal
Reserve Bank o f Boston , Boston 02106
or by ca lling (6 17 ) 426-7 100 X656.
DatelinesEconomic Education
FALL ECONOMIC EDUCATION WORKSHOPS
(For fur th er information and for information w here a worksh op has not yet been announ ced , co ntact a nearby cen ter or council.)
Conn ec ticut J oint Council on Economic Educa tio n , Edward H amblin , Box U-55,
Uni versit y of Conn ecticut, Storrs 06268, (203)486-3323.
Main e Coun cil on Econom ic Ed ucation , George Cu nnin gha m . 22 Coburn Hall , University of Ma in e. Orono 04473, (207 )58 1-7067.
Econom ic Education Counci l of Massachu se u s. Thomas Curtin . Linco ln Filene Cen tt'r. Tufts l lni,·ers ity. Medford 02 155. (6 17)628-"i000.
Center for Economic Education . America n !111('rna ti on a l Col lege. Robert H em o nd,
Gordon Morri ll , Springfield. MA 0 1109.(4 13)737-533 1.
C:e111er for Economic Education. Boston l lni versity. Kenn eth Sheldon, choo l o f Educa t io n. 765 Comm o n wealth Avenu e. Bos to n 022 15, (6 17 )353 -3253, courses a t Carli sk, Co hasset, Les ley Col iegl' a nd Sci tu a te.
Center for Econ omic Education. Salem S ta te C:ol lcgc. H enry A. Lucas, Salem , MA
0 I 970. (6 I 7)745-0556.
Center for Economic Educat io n . Sou th eas tern Massachusetts U niversity, Ri chard
\V arel. North Dartmou th , MA 02747 . (6 17 )997-932 1.
Center for Economic Education , Stonehill Coll ege, Robert H ardi na, Eas ton. MA
023.56. (6 I 7)238-2052, one course for secondary school teac hers a t Aul eboro.
Center fo r Economic Educat io n , Tufts Universit y. G eorge Watson , Lincoln Filene
Center. Ml'dford, MA 02 155. (6 17)628-5000, two co urses.
Center for Economic Education. Wo rces ter State Co ll ege. Pa ul O ' Nei l. Worces ter, MA
01602. (6 17)75-1-686 1.
Nl'w 1-l a mp shirC' Coun c il on Eco nomic Education. Whitt cmorl' School o f Busin ess
and Eco n om i" · l lni \'ers it y of Ne"· H ampsh ire. Carroll Deg-ler. Du rham . NH
0382'1. (603 )862- 1983.
Rh odl' Is land C:ou n, ii o n Economic Education . Rhode !~land C:oll Pgl'. J ohn Sapin,I ,·,. Pro\'id,·111 ,. 0~908. (•10 I )9'1 1-6600. thrc-e courses.
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