AP Economics triple play at Millbrook

MILLBROOK — An educational event focusing on finances, put together by Cablevision, on Thursday, May 27, brought together Advanced Placement (AP) economics students at Millbrook High School with local and state politicians, camera crews and MSNBC financial experts.

The morning assembly on financial literacy featured senior AP students presenting their own research on the stock market, personal investing and saving for college to juniors who will be taking AP economics next year. The financial literacy program was created as part of Cablevision’s Power to Learn initiative, which provides telecommunications services along with multimedia educational content to parents, teachers and students in 5,000 K-12 schools.

Trent Anderson, who admits to having “the best job at Cablevisionâ€� as vice president of education, explained that the program affords students the opportunity to learn to make financial decisions. State Sen. Steve Saland (R-41) advised the 50 current and future AP economics students gathered in the auditorium that “prudence is the watch word,â€� and that “all difficult questions should be given to [Assemblyman]Marc Molinaro  (R-103).â€� Molinaro joked that he was an “AB student in high school, not an AP student.â€�

The program began with a video of Mad Money’s Jim Cramer urging students to “sock money away� and if you don’t have money to try following and trading stocks like fantasy baseball. Students Jonathan Campbell and Jarred Hoyt presented their research on stocks and trading styles followed by presentations on investment opportunities and financing a college education.

Through a live conference call line to MSNBC in New York, the student audience had the opportunity to ask questions of financial expert Sharon Epperson just before she had to go on the air.  

“Is now a good time to get into the stock market?� asked one student.

“It’s a great time,â€� she replied, emphasizing that students would be holding for the long term.  Opining on the recession, Epperson said there were some signs of job creation and economic improvement, but that there was still a ways to go. Epperson saw the best job prospects five years from now when these students will be graduating from college in the areas of health care, education, green products and services and entrepreneurship.

The students saved their best questions for politicians Saland and Molinaro.

“Are there creative ways to fund education without raising taxes?�

Molinaro responded that property taxes are regressive and outdated and that financing of public education is way behind the times. He also stressed that the expense side of education should be looked at, for example, along with more flexible school days and consolidation.  

Asked how badly off New York state was, Saland said, “Our job is to incentivate [sic] job creation.â€�  

Molinaro characterized the state’s position as “perilousâ€� and argued that you can’t solve problems with old ideas.  

Another student asked what cuts could be made to services.  Saland pointed to Medicaid, where New York spends 70 percent more than the average state. Molinaro wants to streamline programs and change the way the state does business rather than just cut programs. 

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