Youth-Run Nonprofit Transforming Economics and Financial Literacy Education
SAN JOSE, CA, Aug. 13, 2020 (GLOBE NEWSWIRE) -- With hundreds of startups sprouting up each year and schools racing to integrate programming into their curriculum, Silicon Valley is the cradle of innovation. Unfortunately, with personal finance left out of California educational content standards, financial literacy has taken a backseat.
Youth Economics Initiative (YEI), a student-run 501(c)(3) nonprofit, aims to tackle this issue head on through a community-based approach. The organization, which boasts over 30 clubs from around the globe, provides pathways towards careers in business, finance, and economics by providing students the resources and support to found their own YEI economics clubs.
“An understanding of economics is so important to having a holistic understanding of our world”, says Henry Weng, the organization’s co-founder and CEO. “YEI gives students who are passionate about economics the tools and resources to bring an economics club to their own school. We provide 40+ weeks of detailed curriculum modules, connect students with industry professionals and university professors, and host international events and competitions”.
YEI recently hosted their Summer Economics Leadership Conference, where YEI Club Officers from all across the globe gathered to learn about effective strategies and YEI Rsources that they could use to lead their clubs. From August 3rd - 7th, the organization hosted their free online “Modern Economy” speaker series, where speakers from institutions like the EPA, NYU Stern, and the University of Pennsylvania will be speaking about current events and their impacts on the economy.
Henry expects YEI to continue to expand rapidly, and says that YEI is planning on introducing a variety of new programs as the organization grows.
“So far, our flagship event has been our annual EconBowl, where hundreds of students from across the globe compete to show their economics skills”, he says. “But starting next school year, we’re planning on bringing on a couple of new initiatives. Right now, we’re working with Bank of America’s Better Money Habits to launch the Financial Literacy Introduction Program (FLIP), where YEI Clubs will have the opportunity to teach financial literacy to underprivileged youth at partner organizations.”
YEI is also working on developing the Economics Achievement and Research Network (EARN), a highly-selective program where students will have the opportunity to find internships with partnered research universities and institutions.
Even with the turbulent environment hanging over the coming school year, YEI co-founder and COO Ian Chen remains optimistic about the future.
“To us, the member experience comes first. Even as we all navigate these uncertain times, our team is committed to helping students discover their passion for economics. Whether it be through our new and engaging curriculum, exciting competitions, or our service and research initiatives, we will continue to open new doors and find new opportunities for our members and clubs.”
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