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FOR IMMEDIATE RELEASE
Apr 5, 2010    #038
Contact: Laura Byerley
(816) 235-1592

Missouri Council on Economic Education tests students' financial knowledge

UMKC-based organization hosts state-wide competition at Federal Reserve Bank

The State of Missouri requires that students take a high school course in personal finance as a condition for graduation. This April, the Missouri Council on Economic Education (MCEE) - an organization housed on the University of Missouri-Kansas City (UMKC) campus - will give students a chance to display their mastery of real-world financial choices and earn prize money through a series of competitions.

Following is a schedule of competitions:

  • 9:30 a.m. to 2 p.m. on Tuesday, April 13: After completing an online quiz, the top 20 four-person teams from Missouri's four regions will meet at the UMKC University Center's Pierson Auditorium, 5000 Rockhill Rd., Kansas City, Mo. They will compete through three rounds of written questions on income and money management, spending and credit, and saving and investing. The final round will feature two teams in a quiz bowl format, answering verbal questions from a moderator.
  • 9:30 a.m. to 2 p.m. on Thursday, May 6: All eight quiz bowl teams will compete in state finals at the University of Missouri-Columbia's Reynolds Alumni Center, 107 Conley Rd., Columbia, Mo.
  • 9:30 a.m. to 2 p.m. on Thursday, May 20: About 50 students from 12 states will compete in the National Personal Finance Challenge at the Federal Reserve Bank of Kansas City, 1 Memorial Drive, Kansas City, Mo. The competition is underwritten by the Wachovia Wells Fargo Foundation. In attendance will be Steve Rosen, business reporter for the Kansas City Star, whose "Kids and Money" columns enlighten families on such issues as college planning, buying stocks and resolving customer service problems.
All competitions are open to the public. For more information, contact Mike English, president of MCEE, at (816) 235-2654 or englishmi@umkc.edu.

Several states require schools to offer a personal finance class for their students. As a result, other state economic education groups conduct competitions similar to Missouri's. In Missouri, there is no cost to students who compete.

Even younger students can become involved in economic education by playing the Stock Market Game, used by Missouri's elementary and middle school teachers. Students purchase a hypothetical portfolio with $100,000 virtual dollars. While managing investments, their thinking, research and cooperative skills become stronger. Fourth and fifth-graders can visit KidsTube, a safe, monitored site where kids can post videos displaying their economic skills regarding shopping, allowance management and ideas on convincing Dad to pick up the tab.

The University of Missouri-Kansas City (UMKC), one of four University of Missouri campuses, is a public university serving more than 14,000 undergraduate, graduate and professional students. UMKC engages with the community and economy based on a four-part mission: life and health sciences; visual and performing arts; urban issues and education; and a vibrant learning and campus life experience.

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This information is available to people with speech or hearing impairments by calling Relay Missouri at (800) 735-2966 (TT) or (800) 735-2466 (voice).

 

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