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Fall 2006
ISSN 0890-913X
Volume 22, Number 1

An Evaluation of Learning, Earning and Investing A Model Program for Investor Education

M. Scott Niederjohn, Lakeland College
Mark C. Schug, University of Wisconsin - Milwaukee
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JournalofPrivateEnterprise,Volume)0CII,Number1,Fall2006AnEvaluationofLearning,EarningandInvestingAModelProgramforInvestorEducationM.ScottNiederjohnLakelandCollegeMarkC.SchugUniversityofWisconsin-MilwaukeeTobeuninformedaboutmarketsandfinancialmanagementhaspracticalconsequencesforindividuals,especiallytodaywhenconsumersfaceanincreasinglycomplexarrayofnewfinancialservicesandproductsaboutwhichtheymusttrytomakewisechoices(Greenspan,2003).Therearepublicconsequencesaswell,sinceindividualswhostruggleunsuccessfullytomanagetheirfinancialaffairsmayexperiencedebilitatingproblemssuchasbankruptcyanddivorce.Despiteitsimportance,everypublishedreportshowsthatAmericanyoungpeoplehaveaninadequateunderstandingofeconomicsandpersonalfinance.Walstad&Rebeck(2001),forexample,foundthathighschoolstudentswhohadnotstudiedeconomicsscored41percentcorrectontheTestofEconomicLiterag.Moreover,economicandfinancialknowledgehaspracticalaswellasacademicimportance.CourchaneandZorn(2005)foundthatthefinancialknowledgeisthesinglelargestpredictorofresponsiblefinancialbehavior.ThisreportfocusesonhowthelessonsfromLearning,EarningandInvestinginfluencestudentknowledgeandattitudestowardsavingandinvestingwhenusedbyteacherstrainedtousetheprogram.Learning,EarningandInvestingintroducesstudentstotheworldofinvesting,itsbenefitsandrisks,andthecriticalroleitplaysinfosteringcapitalformationandjobcreationinourfreemarketsystem.Learning,EarningandInvestingisaninvestoreducationprogramfocusingonthebenefitsofandstrategiesforinvestingforthelongterm.M.ScottNiederjohnandMarkC.Schug180
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