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Posts by Michelle Ryan, Education Programs Coordinator

Our Interns are Prepared for the Future

AIER’s Academic Year Interns have finished their school year. As part of our review of each intern, the student and his or her supervising researcher evaluate knowledge and technical skill development and an assessment of the program itself. This process reflects both our dedication to providing a meaningful educational experience for our students and our commitment to actively seek input on how we can improve our program.

The topics researched by our interns varied from financial literacy to the Federal Reserve System and from college loans to retirement drawdown strategies. When asked to describe their learning outcomes, our interns stated:

“(I) have gained a substantial amount of technical knowledge regarding the Federal Reserve and the commercial banking system.” (Bradley Oerth, Bard College at Simon’s Rock)

“The seminars that were provided helped me with figuring out what I need to know about finances.” (Kayla Lloyd, Miss Halls School)

I learned different methods of conducting research and different tests for data such as Monte Carlo simulations or using historical data.” (Andrew Krom, Mt. Everett High School)

In addition to the content focus of their work, our interns have enhanced their technical skills. For many of our students, the AIER internship was their first experience with learning to use analytical software, databases, and research methods.

It also exposed them to working in a professional office environment. Learning how to ask for assistance, disagree with a “supervisor,” and voice suggestions to improve a procedure and/or managing a long-term assignment were all noted by the students as examples of skills they developed through this experience.

Two of our interns, Bradley Oerth and Andrew Krom, have been cited for their contributions to a recent AIER publication “Can the Fed Tame Inflation?” Another intern, Chloe Kim, was inspired to create a blog to promote the financial literacy to her peers. These are impressive accomplishments!

AIER’s emphasis on interns developing independent analysis abilities and technical skills are consistent with the Common Core Standards being adopted across the nation: Students will learn to use cogent reasoning and evidence collection skills that are essential for success in college, career, and life.

As a result of their internship experiences at AIER, our students are better prepared to meet the new academic and interpersonal demands they will face in their future education and professional careers.

We interviewed some of our interns so they could tell us what else they’ve learned during their time here at AIER. Watch the video below.

 

Providing Financial Knowledge to High-School Students Improves Their Well-being

051914 Miss HallsNew research published in the March 2014 issue of the Journal of Economic Literature demonstrates the economic value of providing instruction for young people in finance and economics. The study shows that “providing pre-labor market financial knowledge to [high-school graduates] improves their well-being by…82 percent of their initial wealth.” That is a huge impact! We should all feel a sense of urgency to educate young people.

On May 15th AIER staff participated in a financial literacy seminar for Miss Hall’s School in Pittsfield, MA. The seminar was the culmination of the project designed and coordinated by two students from Miss Hall’s School, Hallie and Chloe, during their academic year internship at AIER. In the course of their research, the girls found that Massachusetts fails to provide high school students with financial literacy education. That inspired them to organize a half day event for their schoolmates to learn about banking and budgeting.

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