By Arizona Treasurer Kimberly Yee and Dr. Mary L. Rigdon
The teaching profession is highly regarded and respected, especially in Arizona, where educators feel great pride and responsibility in equipping students with the necessary tools for a successful life. Financial education strengthens our citizens, communities, and the overall fiscal health of our great state. Those who make smart financial and economic decisions are more likely to become self-sufficient, enabling them to live successful, fulfilling lives. The foundation of financial literacy begins with learning about money in K-12 schools. Giving young people an understanding and appreciation of how to budget for everyday expenses, save, and prepare for retirement is critical so that they can support themselves and their families throughout their lives. Teachers with the knowledge and skills to empower Arizona students with these lessons are essential to the future of our state.
The Arizona Treasury and the University of Arizona Center for the Philosophy of Freedom (Freedom Center) have joined together to support teachers providing students with financial literacy education by creating The Arizona Award for Excellence in Teaching Financial Literacy. Nominations are currently open until September 1, 2023, to identify three exceptional teachers who will be awarded a full scholarship to pursue an online Master of Legal Studies, Law & Economics concentration. We invite Arizonans to get involved and nominate an exceptional teacher who would benefit from this opportunity. Teachers may also nominate themselves. The nomination form is available at www.aztreasury.gov/teacher-s-scholarship.
This degree equips educators with a deeper understanding of the subjects and tools to enhance their teaching. Graduates are better prepared to engage students in critical thinking, decision-making, and problem-solving, and ultimately to prepare students to successfully shape their financial futures. A Master of Legal Studies, Law & Economics degree helps teachers strengthen their classroom skills and build a successful career. Each scholarship for this degree – a joint program between the Freedom Center and the James E. Rogers College of Law developed by Dr. Saura Masconale, the Center’s Associate Director – is worth over $20,000.
The degree’s courses delve deeper into the intricate relationship between law and economics, including a country’s political structure and the functioning of a free market. Ethics coursework will help teachers explain how moral and economic success are both attainable. The curriculum provides hands-on experience through experimental economics and game theory, which makes financial concepts more relatable in real-world settings. The program explores environmental protection, addressing social concerns, legal ramifications, and global consequences. Finally, the program examines the very nature of law, economics, and politics in American social and political life to illustrate how different perspectives and priorities impact the policies, laws, and regulations that sustain our democracy.
We created this Award to recognize and support teachers who have embraced the teaching of financial literacy in their classrooms and to inspire more educators to incorporate financial education in their academic curricula. The Arizona Treasurer’s Office Financial Literacy Task Force has played a crucial role by leading many initiatives to promote financial education across the state. One of the many significant achievements of the Task Force includes passing a law requiring Arizona high schools to teach financial education before graduation. The Treasurer’s Office also created the Financial Education Portal, which provides free resources for money management skills for all Arizonans.
We look forward to honoring three deserving teachers at the State Capitol in Phoenix in September. Please take a moment to nominate an exceptional teacher who inspires students through financial literacy, which will benefit them throughout their lives.
Kimberly Yee is the State Treasurer of Arizona. Dr. Mary L. Rigdon is Director of the University of Arizona Center for the Philosophy of Freedom and Associate Professor in the UArizona Department of Political Economy & Moral Science
