Middle Tennessee State University
Center for Economic Education
2004-2005 Annual Report

Dr. Robert B. Blair, Director
Ms. Maria L. Edlin, Assistant Director
Mr. B. J. Hudson, Graduate Assistant

During 2004-2005, the Middle Tennessee State University Center for Economic Education (MTSU CEE)  increased its efforts to promote economic education across Tennessee with special emphasis on Rutherford and surrounding counties. In addition to providing teachers with information about meeting the No Child Left Behind Act mandates for becoming highly qualified, the CEE has focused on the following five major projects:

Tennessee Stock Market Game.  The Stock Market Game (SMG) is a highly successful, interactive, and interdisciplinary educational program that stimulates learning about economics, finance, and the American economic system. The program consists of a ten week simulation that allows participants to invest a hypothetical $100,000 in the stock market. The Ms. Edlin serves as the state coordinator for the SMG. During the year, she conducts nine SMG workshops hosted by seven regional newspapers. The program is funded through a partnership with First Tennessee ($45,000). First Tennessee also sponsors an internship program to each of the seven regional newspapers to support the Newspapers in Education’s promotion of the SMG in grades 4-12. The Securities Industry Association Southern/South Central District Grant provides the CEE an additional $2,500 support for this program each year.

During 2004-2005, a grand total of 2,877 teams (12,670 individual students) participated in the Tennessee Stock Market Game. Teachers involved totaled 426 from 363 different schools across the state (West = 136, Middle = 77, and East = 150 schools).

International Economic Summit. The International Economic Summit (IES) provides high school students with the opportunity to explore basic concepts within the theme of international trade. Working in small groups, student teams adopt a country and tak on the role of economic advisors. The goal for each team is to improve their country’s standard of living through international trade. Each team conducts extensive research to evaluate conditions within their country and develop a strategic plan to improve living standards. The culminating summit event brings all countries together to implement their strategic plans through a day of negotiation and trade on the MTSU campus.

During 2004-2005, 142 teams (603 individual students) and 22 teachers representing 15 different schools participated in the IES. The competitive event winning teams and sponsors are listed below:

Fall 2004

1^st Place: Syria Team, Mark Horsely, Dickson County High School
2^nd Place: Japan Team, Barbara Marks, Watertown High School (Wilson)
3^rd Place: Spain Team, Mark Horsely, Dickson County High School

Spring 2005

1^st Place: Kuwait Team, Melissa Ruch, Dekalb County High School
2^nd Place: Russia Team, Janell Wood, Blackman High School (Rutherford)
2^nd Place: Vietnam Team, Amy Hart, Fred J. Page High School (Williamson)
3^rd Place: Saudi Arabia Team, Judy Davis, Fred J. Page High School (Williamson)

Each winning team was awarded a plaque/trophy and a monetary award for their achievement. Funding for the IES was provided by the Jennings and Rebecca Jones Foundation ($25,000) and the National Council on Economic Education International Education Showcase Grants ($5,277.52). The IES has been offered during the past several years both semesters; however, in beginning with 2005-2006, the IES will be a offered only during the fall semester.

Economics Challenge. The National Council on Economic Education/Goldman Sachs Foundation National Economics Challenge provides the excitement of an athletic competition to academic excellence. In each competition, teams of students answer rigorous questions on microeconomics, macroeconomics, and international economics. The most exciting round of the competition is the final round conducted in an oral quiz-bowl format. Only the top two teams in each division may compete in the final round.

The MTSU CEE coordinated the first Tennessee Economics Challenge during the Spring 2005 semester. The McCallie School and Oak Ridge High School competed in the David Ricardo (standard economics) and Adam Smith (honors economics) divisions. The event was hosted by The McCallie School in Chattanooga, Tennessee. A total of 28 students participated in this event.

Oak Ridge High School (Ricardo Division) and The McCallie School (Smith Division) represented Tennessee at the Midwest Regional Competition held on April 22, 2005, in Chicago, Illinois.

The National Council on Economic Education (NCEE) funded the travel/lodging expenses of the Tennessee representatives to participate in the regional event. NCEE also provided a grant to administer this program ($1,800). The Jennings and Rebecca Jones Foundation sponsored the 1^st Place trophies and monetary awards ($600). The Economics Challenge event will become the CEE’s premier statewide competitive event during the spring semesters.

Professional Development. The Foundation for Teaching Economics provided a generous grant ($30,000) for the MTSU CEE to co-sponsor the Right Start Institute during March 2005. The Right Start Institute is a four-day, residential program for new high school economics teachers or those who have taught economics and/or related-economics courses (Marketing, Business Education, Family and Consumer Sciences, Virtual Enterprise International, etc.) for five or less years. The Institute is designed to help teachers identify and learn basic economic content and develop lesson plans for effectively teaching high school economics.

The program is delivered in a business conference format with emphasis on economics course content. The Institute incorporates a blend of practical learning activities, including hands-on classroom activities and simulations. Two hours of graduate credit in economic education was available for participants through Florida Gulf Coast University.

Twenty-nine participants were involved in the Institute representing nine states and Canada. The Jennings and Rebecca Jones Foundation sponsored the closing session luncheon ($1,000).

This year’s program was such a success, that The Foundation for Teaching Economics has agreed to co-sponsor two Tennessee programs during 2006: Economics and the Environment in January ($30,000) and The Right Start Institute in March ($30,000).

BMOM 6650 Workshop in BE/ME: Innovations and Problems in Economic Education. Dr. Robert B. Blair and Ms. Maria Edlin team taught this graduate course during June 2004. The course’s primary focus was to assist economics, business education, marketing education, and family and consumer science teachers to become highly qualified by meeting the mandates of the No Child Left Behind Act. Special emphasis was placed on a thorough review of basic economic concepts covered on the Economics Praxis exam. Teaching materials, methods/strategies, professional organizations, etc., were included as part of the course. Twenty students enrolled in the course last summer. A majority of those students seeking economics certification have achieved their highly qualified status to teach high school economics. This course will be offered again during July 25-29, 2005.

For more information about the MTSU Center for Economic Education visit the website at www.mtsu.edu/econed or e-mail rbblair@mtsu.edu and medlin@mtsu.edu.