Scranton Establishes The Honesdale National Bank Center for Economic Education
Teaching local high school students about economics is the focus of an initiative forged by The Honesdale National Bank (HNB), The University of Scranton’s Kania School of Management and EconomicsPennsylvania, a nonprofit organization dedicated to improving economic education for students in kindergarten through 12th grade.
Funded by a donation by HNB, the newly established The Honesdale National Bank Center for Economic Education at The University of Scranton will lead economic education outreach to elementary, middle and high school students in Carbon, Lackawanna, Luzerne, Monroe, Pike, Susquehanna, Wayne and Wyoming counties. The center will use EconomicsPennsylvania educational programs aimed at training teachers to help students better understand economic and financial literacy concepts, as well as gain a better understating of the global economy and ways to apply economic principles to solve problems.
“With this alliance between HNB, The University of Scranton, EconomicsPennsylvania and these participating schools, we take a significant step towards improving the financial and economic education of the area’s students,” said William Schweighofer, president and CEO of HNB. “These programs will provide additional tools for the educators, but more importantly, provide the students with expanded opportunities for learning and better prepares them for the transition to life after school. This is a substantial coordinated undertaking to expand the offering of financial and economic educational programs throughout Northeastern PA under the guidance of The University of Scranton and EconomicsPennsylvania and we at The Honesdale National Bank are especially pleased to be involved with this effort.”
One of the programs offered through The Honesdale National Bank Center for Economic Education at The University of Scranton is the Stock Market Game for area students in grades four through 12. The Stock Market Game is a 10-week simulation game during which students invest an imaginary $100,000, buying stocks listed on the major securities exchanges. Students who compete in the game learn how financial markets operate and hone their mathematics and decision-making skills. Teams that place first, second and third in three age-group categories are presented with awards at a ceremony hosted at The University of Scranton.
For the spring 2010 semester, the center will specifically target Stock Market Game participation by students in the school districts of Forest City, Lakeland, Wallenpaupack, Wayne Highlands and Western Wayne. These districts will also receive personalized consulting, technical support and individualized program support.
For additional information about The Honesdale National Bank Center for Economic Education at The University of Scranton, contact Edward Scahill, Ph.D., associate professor of economics at The University of Scranton and director of the center, at 570-941-4187.