Arizona

State-by-State Assessment with Regard to Financial Literacy and Personal Finance Education Actions

State Department of Education Link http://www.ade.state.az.us/  
Legislation and Authorization On December 10, 2007, the Arizona Board of Education prescribed a new minimum course of study and competency requirements for the graduation of pupils from high school or issuance of a high school diploma, effective for the graduation class of 2012. The social studies requirement increased to three credits, which includes one-half credit of economics. The Arizona Academic Standard for Social Studies includes Economics (Strand 5), which includes Personal Finance (Concept 5). Extensive personal finance content for K-12 required by Board of Education. June 2010 Board of Education approved Mathematics and English Language Arts Common Core. Arizona’s Common Core Standards for Mathematics include the Common Core State Standards plus Arizona additions and have been designed to replace the Mathematics Standard Articulated by Grade Level 2008.
Links to State Bills  
Additional Links Social Studies Standard Articulated by Grade Level
Stand-Alone Personal Finance Standards NO
Personal Finance Standards in Career and Techical Education (CTE), Family and Consumer Sciences NO
Personal Finance Embedded in Social Studies or Economics Standards YES Arizona Social Studies Standard Articulated by Grade Level, K-12: Strand 5 - Economics, Concept 5: Personal Finance – Includes career choices, income, consumer choice, short and long-term financial goals and plans, income, spending, saving and investing, borrowing, credit, credit history. Includes economic reasoning applied to personal finance decisions.
Personal Finance Embedded in Mathematics Common Core Standard Minor amount
State Has Adopted Mathematics and English Language Arts Common Core YES
Personal Finance or Financial Literacy Course Required or Offered NO
Personal Finance Course Required for Graduation  NO
Personal Finance Content required in Economics or Other Course Required for Graduation   YES Arizona requires Economics with personal finance content, effective for the graduation class of 2012. The social studies requirement increased to three credits, which includes one-half credit of economics. The Arizona Academic Standard for Social Studies includes Economics (Strand 5), which includes Personal Finance (Concept 5). Extensive personal finance content for K-12 required by Board of Education.
Prescribed or Recommended Personal Finance Curriculum  Extensive curriculum and lesson plans on ADE website.
State Requires Economic Reasoning /Thinking Skills  YES Mathematics and Social Studies Common Core include general reasoning and thinking skills.
State Standard Correlated with Jump$tart Financial Literacy Standard NO Not a formal correlation. However, Social Studies Standard Articulated by Grade Level - Strand 5, Concept 5: Personal Finance covers most Jump$tart Standards - Career choices, income, consumer choice, short and long-term financial goals and plans, income , spending, saving, and investing, credit, credit history.
State Assessment of Personal Finance Required  NO
Financial Literacy Bills Currently Being Considered by the State Legislature

S.B. 1449 adds personal finance to the list of topics for which the state Board of Education must prescribe competency requirements for students to graduate from high school. This section does not allow the state Board of Education to establish a required separate personal finance course for the purpose of the graduation of pupils from high school. A school district governing board or charter school may prescribe a separate personal finance course for the graduation of pupils from high school that is in addition to or higher than the course of study and competency requirements that the state board prescribes.

H.B. 2041 requires each school district and charter school that provides instruction to high school pupils to provide a course in personal finance as part of the mathematics curriculum that includes information on the following: 1. The management of household living expenses. 2. Home financing, including residential lease agreements and mortgage financing. 3. Automobile financing and financial matters pertaining to other forms of transportation. 4. Various types of services offered by financial institutions, including debit cards, credit cards, checking accounts and savings accounts. 5. Retirement planning. Beginning in the 2013-2014 school year, a school district or charter school in this state shall not issue a high school diploma to a pupil unless that pupil completes and obtains a passing grade in a personal finance course as prescribed.

Financial Literacy Education Bills Signed by Governor and/or Passed by the House and Senate  NONE
State Appropriations and State Dept Education Funding for K-12 NO 
Established Financial Literacy Month YES S.C.R. 1048
Passed both houses 4/6/04
Designates April as Financial Literacy for Youth Month in Arizona to increase public and educator awareness of the need to improve financial literacy among the state’s youth. Encourages parents and educators to participate in the activities and exercises to increase financial literacy.