2. Today's topics Current environment – poses unique opportunity for teaching business reporting – demands never been higher. Challenges schools face teaching business reporting at university level. Recommendations for what to do at your university.
3. U.S. Economy faces its biggest challenges in 60 Years. As educators this presents us with a unique opportunity.
4. Few Jobs – for college graduates Almost 2 million college graduates are unemployed Employers say they will hire 22 percent fewer graduating seniors than last year.
17. Economy - but other reasons …. Other forces at work: Deregulation of banking, financial services. Growth of self-directed investing. Aging population. Changes in health benefits Pressure to save for retirement Downsizing, Job losses, Uncertainty
18. Biggest challenge? Economy isn’t biggest challenge to teaching biz journalism. Rather - It is financial literacy – both among students and faculty. Lack of knowledge about the basics of banking, basics of budgeting, money, credit & debt Studies show our college students are much like the rest of the population – woefully unprepared.
21. 26% don’t know if their mortgage is fixed or adjustable rate.
22. 28% of homeowners don’t know the terms of their mortgage – surprised by the payment.
23. 64% haven’t pulled a free credit report or know their credit score. Source: Harris Interactive, 2009 poll
24. Learning about business If parents are financial literate, kids are, too. 37% said learned about financial topics from their parents. Higher income families, higher literacy. Best students have parents who work in financially-related disciplines. So how do university faculty stack up? Source: Harris Interactive, 2009 poll
25. Review of j-schools shows: Most teach no business journalism classes. Most surveyed are interested in adding business journalism, but have yet to do it. Few faculty teaching business journalism have either worked as business journalists or had formal training. Business journalism remains an elective, not a required course. Faculty similar to population at large when it comes to literacy. Source: E. W. Scripps Journalism School report
26. Recommendations Require ALL students to take a basic business journalism class. Develop business-related courses in your communications programs. Examples: Intro to business, financial statements for dummies or business literacy. Hire people who are literate in business. This doesn’t man hiring business professors. Cross train other faculty. Integrate business into your program.
27. Final Note: Biz Journalism is also about having some fun… http://www.youtube.com/watch?v=F1GUoQpkr0s
Notes de l'éditeur
Timing couldn’t be better to teach business reporting and writing – kids are interested. They see business and business journalism as a tool of empowerment.
Stock market had declined 50% from previous high by late last year –Retirement income and savings vanished. Parents are telling their kids that they will have to cut back, pressure to finish school sooner, or get a job.
Unemployment is currently 9.5% - expected to top 10% this fall. In some states it is over 20% and expected to go higher before the economy recovers.
We are worried – worst economy in 60 years.
Headlines pounded day after day about – bailouts, stimulus package, the need get the economy back on its feet.Foreclosures. Declining home prices
Huge run up in housing prices.
Dropped 30-50% in most markets
Financial literacy
Faculty intimidated by numbers, don’t understand biz journalism – similar to
Business should be as important as grammar, spelling, online or any of the other core courses
Biz journalism has become so mainstream – it is even featured on comedy channels
