April 27, 2006 by Jeany Llorente-Ontiveros NMSU News Center
New Mexico State University and the Federal Reserve Bank of Dallas have combined resources to promote economics and personal financial education in New Mexico.
In celebration of National Financial Literacy Month (April), NMSU’s Center for Economics and Personal Finance Education (CEPFE), based in the College of Business, and the Federal Reserve Bank of Dallas are sponsoring “Charting the Course of Globalization,” a training conference for high school economics teachers, Saturday, April 29, at NMSU. The joint venture is the first one of its kind for the Federal Reserve Bank of Dallas in southern New Mexico.
The sessions will offer educators alternatives to better communicate issues related to international trade to their students. Themes of the sessions include:
– Economics of Labor Immigration: Does it Hurt or Benefit U.S. Workers? (This session is via video)
– Economy of the Mexico – U.S. Border: What is the Impact of Economically Large and Small Nations Sharing a Border?
– Economic Emergence of China and India: What are the Challenges and the Opportunities?
– Maquiladoras and Wages: Is This Form of Outsourcing a Boon or a Curse?
In addition, teachers will receive resource materials for the classroom, economic data and pedagogical applications.
For more information, contact Benjamin Matta, director of NMSU’s Center for Economics and Personal Finance Education, at (505) 646-4085.
In 2005, Congress designated April as the month to raise public awareness about the importance of financial education.
According to the New Mexico Coalition for Financial Education Web site, www.nmfined.org:
– The volume of American credit card lending nearly quadrupled between 1990 and 2003.
– 2005 was the first year since the Great Depression when Americans registered a negative savings rate, spending more than they earned.
– In 2000, one half of working families did not own a private retirement saving account. Only 23 percent of those aged 40 to 59, and 17 percent of those over 60, have saved one hundred thousand dollars or more for retirement; 13 percent of those aged 40 to 59 and 11 percent of those over 60 say they have saved nothing at all for their retirement.