Topic 9: Insurance

This event marks the debut of the Economics Awareness Program as this was our first Zoom session held on June 15th, 2023. In this session led by Wells Fargo financial expert James Yule, the topic of the Economy was taught to middle and high school students and parents from the Charlotte Chinese Academy.​​​

​Eric introduced the series, which aims to raise economic and financial awareness in local communities. James Yule, a quantitative modeling solution manager at Wells Fargo with 15 years of capital market experience, will lead the class, covering consumer economics and other financial topics over the next five weeks.

​The session was split into several sections, each covering essential topics:

Debt Consolidation & Social Security: (Coming Soon!)

Economy & Money History: As the country faces a potential default if the debt limit isn't raised, James explained the importance of understanding the economy and money history. He highlighted the potential impact on social security and veteran payments if the government defaults, affecting millions of retirees.

Economy Size & Productivity Measurement: Mr. Yule discussed the central role of the economy in society and the importance of understanding money as a medium of exchange and a unit of account. He emphasized that a well-managed economy leads to a higher quality of life.

Monetary Policy and Economic Policy: James explored the roles of monetary and fiscal policies in managing the economy. He explained how the U.S. Congress sets the budget and the implications of high interest rates on the likelihood of a recession.

Market Economy & Planning Economy: Mr. Yule distinguished between market economies, where capitalism allows price setting and decision-making, and planning economies, where the government controls economic activities. He emphasized that while people can choose the economic system, they cannot control the outcome.

Learning Finance Based on Experience & Knowledge: The session concluded with Alex thanking the participants and Mr. Yule for his insights. James shared tips for young people on learning finance, recommending gaining knowledge in emerging technologies and developing a mindset for saving and managing money.