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November 14, 2002

Governor Announces Economics and Finance Summit

SPRINGFIELD—Governor George H. Ryan today announced that six Illinois high schools will be represented at the first Economics and Finance Summit on November 18-19, 2002, hosted by the Federal Reserve Bank of Chicago. The Economics and Finance summit is the kickoff event of the Illinois Global Economics and Finance High School Program (IGEF). The IGEF is a program of the Illinois Council on Economic Education (ICEE), a division of University Outreach at Northern Illinois University.

A grant from the Illinois Board of Higher Education will enable high schools in Illinois to offer career preparation in economics and finance for their students. The new Illinois Global Economics and Finance High School program offers learning opportunities including this first-of-its-kind summit, as well as core curriculum, summer academy, and internship opportunities to prepare young people for entry-level jobs in the financial services field or for further study at the university level.

“In order for our children to become responsible, knowledgeable consumers, they must learn about the economic system in which we live,” said Governor Ryan. “This summit, along with the accompanying grants, provide a good foundation for that education, ensuring that our schools will have the necessary resources to teach students to become productive workers, savvy consumers, prudent savers and investors, and knowledgeable voters.”

The grant from the Illinois Board of Higher Education is a part of Governor Ryan’s initiative to provide resources to schools in order to assure their success in achieving the specific standards relating to economics in the Illinois Learning Standards for Social Science.

At the Economics and Finance Summit, Michael Moskow (Federal Reserve Bank of Chicago), Diane Swonk (Bank One), and Mike Colsh ( Illinois Bureau of the Budget) will speak on the national and state economies, Jon C. Olson (Arthur Andersen) will speak on business ethics/corporate governance, and Martin Cabrera (Cabrera Capital Markets) will speak on career paths. In addition, students and teachers will tour the Chicago Mercantile Exchange and engage in primary research involving pricing of goods.

The following schools will participate in the Economics and Finance Summit: Benito Juarez Community Academy, Corliss High School, John Marshall High School, Chicago Heights Bloom Trail High School, Edwardsville High School, and the Peoria Business Academy. Participating schools receive a grant to fund curriculum planning and development and offset costs associated with bringing selected teachers and students to the Economics and Finance Summit in Chicago. Students and teachers will also take part in a two-week Summer Academy in Chicago, where they will take specialized course work and students will have internship opportunities. Professional development programs for all school staff will be provided through the grant, helping schools integrate the teaching of economics and personal finance topics across the curriculum.

The Illinois Council on Economic Education is part of the Division of University Outreach at Northern Illinois University. Through eight Centers for Economic Education at universities throughout the state, ICEE provides professional development programs for K-12 teachers, curriculum consulting, and student programs to enhance economic understanding.


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