| Themes<\/th>\n | Economics, Financial Literacy, Simulation<\/td>\n<\/tr>\n | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Faculty Member<\/th>\n | Dr. Darrell Burrell<\/td>\n<\/tr>\n | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Academic School<\/th>\n | \n \n \n \n School of Business<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n Title Project #1<\/th>\n | \n | \n \n \n Exploring and Developing Financial Literacy Tools for African-American Adults<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n Description Project #1<\/th>\n | The connection between financial literacy and financial wellness is well-documented, and this is true among African Americans as well. For example, those with higher financial literacy tend to save for retirement, have non-retirement savings, and manage their debt better overall. They are also less likely to be financially fragile. This research addresses the critical issue of economic disparity between African American and White households, specifically investigating the most essential content that should be incorporated into financial literacy training tailored for African American populations. Despite substantial economic contributions, African American households significantly lag behind White counterparts in financial wellness indicators, including net worth, household income, and student loan debt. In 2022, the average net worth of Black families was $44,900 compared to $285,000 for White families, highlighting severe financial inequity. | \nExisting literature establishes a strong correlation between financial literacy and financial wellness, emphasizing improved savings behaviors, better debt management, and reduced financial fragility among individuals with higher financial literacy levels. Thus, enhancing financial literacy emerges as a pivotal strategy for addressing economic disparities. The primary research question guiding this investigation is: What critical content should financial literacy training programs include to effectively address the financial wellness gaps experienced by African American households? Findings from this research will be disseminated through publication in a peer-reviewed academic journal to influence both scholarly understanding and practical interventions. The approach would be to interview subject matter experts on financial literacy to identify the most effective educational content.<\/td>\n<\/tr>\n Title Project #2<\/th>\n | Evaluating Innovative Financial Literacy Training Programs to Enhance Financial Wellness in African American Communities<\/td>\n<\/tr>\n | Description Project #2<\/th>\n | Despite significant economic contributions by African Americans, considerable disparities persist in financial wellness between African American households and their White counterparts in the United States. According to the Federal Reserve\u2019s Survey of Consumer Finances (2022), the average net worth of a Black family was approximately $44,900, compared to $285,000 for White families. This pronounced disparity is mirrored across multiple financial indicators including median household income, net worth, and student loan debt burdens. While the reasons for these gaps are multifaceted, financial literacy emerges as a critical determinant influencing financial wellness outcomes. | \nThe purpose of this research is to investigate the essential components necessary for successful financial literacy training programs tailored to African American communities, specifically focusing on innovative technological and pedagogical approaches. The research seeks to answer the specific question: What are the most critical content elements and innovative methods, particularly those involving technology or interactive approaches, currently included in successful financial literacy training programs? The results of this study will provide insights into best practices and effective strategies that enhance financial literacy and ultimately improve financial outcomes among African American populations. This work will contribute to existing scholarship and practical applications by offering a rigorous analysis of effective strategies, ultimately aiming to benchmark best practices that could inform policy, community interventions, and future research. The outcomes of this research will be disseminated through peer-reviewed academic publications.<\/td>\n<\/tr>\n Remote Participation?<\/th>\n | Yes<\/td>\n<\/tr>\n | Contact Information<\/th>\n | dburrell@marymount.edu<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n | MERGERS AND ACQUISITIONS AND ANALYSTS FORECASTS<\/h3>\n
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