Contact:  Office of Media Relations, Michelle Fryling, Director

January 31, 2008

First Commonwealth, Economics Pennsylvania, and IUP are committed to helping students make sense of economics. Officials from all three organizations signed a memorandum of understanding today to formerly establish the First Commonwealth Center for Economics Education at IUP.

“The mission of EconomicsPennsylvania is to ensure that every young person in Pennsylvania understands essential economic concepts, is able to use economic ways of thinking and problem-solving, and has a solid grasp of the nature and structure of the national and global economy,” explained EconomicsPennsylvania President and CEO Fritz Heinemann.

IUP Economics faculty members have worked with EconomicsPennsylvania for the past several years to offer summer programming to high school students and teachers to enhance economics education at the secondary level.

With this new financial support from First Commonwealth, the First Commonwealth Center for Economics Education at IUP will expand and grow to increase community awareness and teacher and student participation in all of EconomicsPennsylvania economic, financial, and investment literacy initiatives.

In addition, the College of Education and Information Technology and The Eberly College of Business and Information Technology will join the College of Humanities and Social Sciences in the program. The First Commonwealth funding also will afford the program a dedicated staff person from EconomicsPennsylvania to work with the First Commonwealth Center at IUP in an expanded geographic region.

“We appreciate the opportunity to continue our relationship with EconomicsPennsylvania and First Commonwealth in order to better serve the needs of students and teachers in our region,” said IUP President Tony Atwater. “IUP is in a unique position to serve as a resource for enhanced economics education for the western Pennsylvania community. First Commonwealth has a pattern of outstanding support for IUP and for enhanced educational opportunities for this region through the University, most recently in the establishment of the First Commonwealth Endowed Lecture Series. The First Commonwealth Center for Economics Education is another demonstration of First Commonwealth’s commitment to this region and enhancing the teaching and learning experience for the Commonwealth.”
 
“First Commonwealth always exemplifies our dedication to the people and communities in which we live, work and raise our families.  We are financial stewards for those we serve,” said T. Michael Price, President, First Commonwealth Bank.  “We are proud to partner with EconomicsPennsylvania and IUP, providing students and teachers with the knowledge and capability to be financially successful throughout their lives.”

EconomicsPennsylvania was launched as a not-for-profit organization in 1978. The board of directors consists of representatives from business, education, labor, agriculture and government. One of the most well known curriculum initiatives developed by EconomicsPennsylvania is the Stock Market Game.
 

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