Econcepts | Tag | lesson plan

How Do You Inspire Others to Become an Entrepreneur?

Date July 2, 2014

Comments0

Photo credit: Thayer School of Engineering at Dartmouth College

Riley Ennis, 20, is the CEO of a biotechnology startup, Immudicon LLC. In high school, Riley worked for three years on a cancer vaccine that teaches the immune cells of the body to recognize and remove tumors. Immudicon is focused on further research and licensing the cancer vaccine platform technology. Riley is currently a junior at Dartmouth College, where he is double majoring in economics and biomedical engineering.

We asked Riley what advice he would give to other young people who have aspirations in business.

Here’s what he said.

Why financial literacy is more important than ever

Date May 28, 2014

Posted by Rema Oxandaboure

Comments0

It’s easy to become complacent about our finances with the vast number of websites, apps, and businesses available today that specialize in helping people manage their money. Granted, technology can be a powerful partner in financial management, but it cannot replace a strong understanding of factors that should inform decisions about how, where, and when we spend our money.

Why is financial literacy more important than ever?

Our financial landscape has grown increasingly complex. Before a young person approaches college or a career, he or she is faced with big decisions on how much money to borrow for tuition, how much to save, how to invest, and how to grow and protect their budding wealth.

2014-05-28-blog-fin-lit-more-important-than-ever-1

Image via GW Today

Dr. Annamaria Lusardi, a professor of economics and accountancy at the George Washington School of Business, wanted to test how financially literate populations are, both in the United States and internationally. What she found was surprising. She discussed her research recently at a TEDx Foggy Bottom gathering.

The Cash Lifecycle

Date April 30, 2014

Posted by Rema Oxandaboure

Comments0

You may not know this about the Fed, but we do more than monetary policy. We also play a central role in the nation’s payment systems. Reserve Banks keep enough currency and coin in circulation to meet public demand, provide check collection services to banks and other depository institutions, operate electronic payment systems, and provide financial services to the U.S. government and certain foreign institutions. This week, we’re focusing on cash – past and present – and are also highlighting some of the work from our Cash Product Office.

Money, Money, Money

Cash stirs the imagination. It’s a driving plot element and character in thousands of books, movies, television shows, and songs. We think about it, dream about it, talk about it, work for it, save it, and spend it. At its most basic level, cash—currency and coin—is essentially a store of value for obtaining the goods and services you need for your daily life.

Entrepreneurship, budgeting, and how to finance college

Date April 23, 2014

Posted by Rema Oxandaboure

Comments0

Last month, we had a great day of discussion on personal finance and entrepreneurship with nearly 400 amazing students from girls’ schools in Honolulu. We ran three interactive sessions designed to introduce students to the topics of budgeting, learning how to finance college, and understanding the purposes and functions of the Fed. The day was capped off with a panel discussion on entrepreneurial leadership.

Students from Honolulu’s La Pietra and Saint Andrew’s Priory joined their peers at Sacred Hearts Academy for the day, supported in part by the National Coalition of Girls’ Schools (NCGS).

Manage your money. Don’t let it manage you.

Our session on personal finance stressed the importance of creating a budget, as well as the need to understand investment options, risk, and rates of return. Young people need to be proactive instead of reactive with their money. We used a modified version of this lesson plan during the session; feel free to download it and use it in your own classroom.