CONTACT: GEORGE MCCRORY
100 Old Public Library
Iowa City IA 52242
(319) 384-0012; fax (319) 384-0024
Release: Dec. 21,
Nasdaq Educational Foundation awards $30,000 grant
to Iowa Electronic Markets
IOWA CITY, Iowa -- The Iowa Electronic Markets (IEM)
has received a $30,000 grant from the Nasdaq Educational Foundation to promote
economic literacy at colleges with significant populations of at-risk students.
Through the grant, four IEM faculty from the Henry
B. Tippie College of Business at the University of Iowa will conduct on-site
training at colleges serving minority populations and at rural community colleges.
This training is intended to help interested faculty
and students integrate the IEM into their courses. Through assignments and
IEM trading activities, students develop critical skills in technology, financial
markets, and economics, said Robert Forsythe, senior associate dean of the
Tippie College of Business and IEM co-director.
Founded in 1988 at the UI, the IEM is a real-money
futures market where students can trade shares based on future events, such
as presidential election, a company's quarterly earnings, a corporation's
stock price, or a movie's box office receipts. The web site for the IEM is
Forsythe said that research has shown that active,
hands-on learning is particularly beneficial for non-traditional students
and those from underrepresented populations. "The IEM has all of the elements
for productive, active learning. Students can apply concepts from classes
to market decisions, interact with and learn from the market, and use the
market as a gateway for their own explorations in economics, finance and related
fields," he added.
Through a $459,798 grant from the National Science
Foundation and a $443,021 grant from the U.S. Department of Education, IEM
faculty are working with teachers from 38 colleges serving minority or rural
populations. Through the Nasdaq grant, IEM faculty will expand on-site training
at six institutions where there is widespread interest in classroom adoption
of the IEM among faculty.
As part of the two-day training at the partner colleges,
the UI faculty will provide curriculum materials and work directly with instructors.
The UI faculty will also be available to answer questions as teachers integrate
the IEM into their courses.
The Nasdaq Stock Market Educational Foundation, Inc.,
was established in 1994 to advance knowledge of business, economics, and finance.
The Foundation is particularly interested in projects or programs that foster
economic literacy, promote understanding of the capital formation process,
and/or provide an education on how securities markets operate and function.
For more information about the IEM and its educational
programs, call (319) 335-0794.