In June 1961, a group of local leaders met to discuss the need to promote economics in Minnesota schools; drawing on their expertise in business, labor, academia, and the community, they formed the Minnesota State Council on Economic Education to advance professional development programs in economics for K-12 teachers. The founders of the Minnesota Council on Economic Education recognized that the most powerful way to promote economics was to prepare and train teachers, who over their careers can impact thousands of students.
Long supported by the University of Minnesota - Twin Cities, the Minnesota Council on Economic Education has been hosted by the Department of Applied Economics in the College of Food, Agriculture, and Natural Resource Sciences since 1992.
Since its formation, the Minnesota Council on Economic Education has trained over 32,000 teachers and made a difference in the lives of an estimated 2.8 million young people across the state. With the addition of community programs in 2005, the Minnesota Council on Economic Education has now equipped well over 100 organizations to deliver high-quality personal finance and economic lessons to vulnerable communities and populations in Minnesota.