University of ArizonaNorton School of Family and Consumer Sciences

Take Charge America Institute

Financial Education: Creeping Toward Success

Educating youth about money is a clear priority. Addressing the council recently, Michael Staten, director of the Take Charge America Institute at the University of Arizona, made the case why. Read more »

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Mike Staten
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Bringing Financial ABCs To School Curriculums

Each summer, the UA offers the Take Charge America Institute program, which helps instructors learn how to teach students about handling personal finances. Read more »

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Mike Staten
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100 teachers train here in personal-finance instruction

The University of Arizona is hosting more than 100 teachers from 33 states at a local resort for training on how to teach personal finance to kids and teens.
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Event Date: 
June 27-30, 2011
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Mike Staten
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Warm and Fuzzy Financial Ed Doesn't Cut It Anymore

At the height of the massive financial turmoil that rocked the United States in 2008 and 2009, some of us in the financial literacy movement recognized that what was unfolding was more than just Read more »

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Mike Staten
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About Your Money: Think interest, budgets, taxes, and credit

For Michael E. Staten, a professor in the Norton School of Family and Consumer Sciences, a career-long challenge has been teaching individuals who know little aobut their own finances. Read more »

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Mike Staten
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A Blue Chip on His Shoulder: Investing Lessons From Dad

In surveying 2,000 students at the UA, Joyce Serido found that students who are responsible with their money are likely to have parents who will talk with them about financial matters and who set h Read more »

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Joyce Serido
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Grant helps students learn about money

Grant will support professional development for teachers. Read more »

Michael E. Staten, Ph.D.

First Name: 
Last Name: 
Michael E. Staten, Ph.D.
Take Charge America Endowed Professor and Director, Take Charge America Institute for Consumer Financial Education and Research
Assistant Dean for Careers, Commerce and Industry
Retailing and Consumer Sciences
650 N Park Ave
Tucson, Arizona 85721-0078
(520) 621-9482

Over the past two decades I’ve been lucky to have a career that was half in the academic world and half in the public policy world. Read more »

Areas of expertise: 

Consumer financial decisions

Economics of retail financial services markets

Financial and economic education

Research Focus: 

I’ve designed projects on a wide range of policy-oriented issues involving the economics of consumer credit markets. Topics have included the causes and consequences of personal bankruptcy and mortgage foreclosures; the role of credit bureau data, credit scoring and risk management tools in expanding access to consumer loans in the U.S. and globally; and the pros and cons of improved loan disclosures and regulatory limits on loan products in helping consumers to make good credit choices.

I’ve also conducted projects for the National Retail Federation and other national associations on issues such as credit card usage patterns and the impact of privacy regulations on the products and customer service offered by retail financial services firms.

I’m particularly proud of a series of projects sponsored by American Express and the Consumer Federation of America that demonstrate the rehabilitative effects of credit counseling on long-term borrower behavior.  I am also proud of our efforts to create pilot demonstration projects here at the University of Arizona that pair financial education with financial products (e.g., savings programs; student loans) to encourage and support completion of higher education degrees. 

Current Projects: 
  • "Arizona Earn to Learn,"  a matched savings  IDA project sponsored through $1.5 million of federal grants to pair a savings program with financial education.  The program is designed to encourage students from low-income families to aspire to attend the University of Arizona and complete a degree.
  • Accuracy of Credit Bureau Information. I am working on a series of papers stemming from work completed in 2012 for the Federal Trade Commission to measure error rates in U.S. credit reports and gauge their impact on consumer credit scores and credit-related opportunities.
  • Principal Investigator, Take Charge Today project.  Funded by a multi-year grant from Take Charge  America, Inc., this project partners with thousands of high school and middle school teachers across the U.S. to provide them with financial education curriculum (free of charge), including detailed lesson plans, active learning tools, online resources for use in the classroom and professional development programs.
Subjects Taught: 
  • Introductory Microeconomics
  • Intermediate Microeconomics
  • Money, Consumers and Family  (Undergraduate, general elective)
  • Economics and Public Policy (MBA)
  • Managerial and Business Economics (Undergraduate and MBA)
  • Economics of Information and Uncertainty (Undergraduate and MA)
  • Retail Financial Services (upper-division Undergraduate)
  • Behavioral Foundations for Consumer Financial Decisions (Graduate)


Select Publications: 

Please contact Dr. Michael Staten if you are unable to locate one of the publications listed below.


Durkin, Thomas, Gregory Elliehausen, Michael Staten and Todd Zywicki. (forthcoming 2013). Consumer Credit and the American Economy.  Oxford University Press.

Refereed journal articles

Smith, L. Douglas, Michael Staten, Thomas Eyesell, Maureen Karig, Elizabeth Freeborn and Andrea Golden.  2013 (in press).  “Accuracy of Information Maintained by U.S. Credit Bureaus:  Frequency of Errors and Effects on Consumers’ Credit Scores.  Journal of Consumer Affairs. 

Brown, Daniel, Charles Link and Michael Staten.  (2012).  The Success and Failure of Counseling Agency Debt Repayment Plans.  Eastern Economic Journal, 38: 99-117.

Barron, J.M., and Staten, M.E., (2008). The Emergence of Captive Finance Companies and Risk Segmentation in Loan Markets: Theory and Evidence. Journal of Money Credit and Banking. 40, 173-192.

Elliehausen, G., Staten, M.E., & Steinbucks, J. (2008). The Effect of Prepayment Penalties on the Pricing of Subprime Mortgages. Journal of Economics and Business. 60, 33-46.

Ellliehausen, G., Staten, M.E., & Lundquist, E.C. (2007). The Impact of Credit Counseling on Subsequent Borrower Credit Usage and Payment Behavior. Journal of Consumer Affairs. 41, 1-28.

Staten, M.E. (2006). The Evolution of the Credit Counseling Industry. The Economics of Consumer Credit, edited by Bertola, et al, The MIT Press. 275-300.

Elliehausen, G. & Staten, M.E. (2004). Regulation of Subprime Mortgage Products: An Analysis of North Carolina’s Predatory Lending Law. Journal of Real Estate Finance and Economics. 29, pp 411-433.

Cate, F., Litan, R. Staten, M.E., & Wallison, P. (2003). Financial Privacy, Consumer Prosperity and the Public Good: Maintaining the Balance. AEI-Brookings Joint Center for Regulatory Studies.

Cate, F. & Staten, M.E., (2003). The Impact of Opt-In Rules on Retail Credit Markets: A Case Study of MBNA. Duke Law Journal, 52, pp 745-786.

Barron, J.M., Staten, M.E., & Wilshusen, S. (2002). The Impact of Casino Gambling on Personal Bankruptcy Filing Rates. Contemporary Economic Policy. 20, 440-455.

Carow, K. & Staten, M.E., (2002). Plastic Choices: Consumer Usage of Third Party vs. Proprietary Credit Cards. Journal of Economics and Finance. 26, 216-232.


Tel: Main Office 520.621.1075 Norton School Student Services 520.621.1295
Mailing Address: 650 N. Park Ave Tucson, Arizona 85721-0078 (Map to McClelland Park)
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