This article was written by Cori Burcham.
In 2013, when Carlos Asarta became the director of the University of Delaware’s Center for Economic Education and Entrepreneurship (CEEE), he quite literally stepped into Jim O’Neill’s shoes, assuming leadership of the center O’Neill founded in 1971. In 2025, Asarta’s work came full circle as he was named the recipient of the James O’Neill Economic Education Multiplier Award, a national honor that recognizes educators who expand access to economics by developing and inspiring teachers to do the same.
Presented by the National Association of Economic Educators, the award celebrates individuals who embody O’Neill’s legacy by multiplying the number of teachers and, therefore students impacted by economic education. Asarta, who also serves as the Bank of America Professor of Business at UD’s Alfred Lerner College of Business and Economics, was recognized for his leadership in growing the national economic education network.
Since succeeding O’Neill, Asarta has embraced the multiplier model, helping new teachers build confidence in the subject and encouraging them to become advocates for economics in their own schools.
“I remember meeting Jim vividly in 2011. It felt like I was stepping into the presence of a legend, and in many ways, I was,” said Asarta.
Asarta, who was on UD’s campus as a guest lecturer, first met O’Neill over lunch at the Deer Park Tavern. By then, O’Neill had led UD’s CEEE for nearly 40 years, building it into a nationally recognized hub for economic education. In addition, he launched the acclaimed Master of Arts in Economics and Entrepreneurship for Educators program in 1981, which provided teachers worldwide with effective resources in economics and financial literacy.
O’Neill first learned of Asarta’s work through a colleague at the University of Nebraska–Lincoln, where Asarta was serving as an associate professor. O’Neill said it was Asarta’s energy, vision and commitment to the field that left a lasting impression.
Today, that impression continues to grow through the work of the CEEE and the teachers it empowers—fulfilling a mission that began with O’Neill, a pioneer and passionate champion of economic education, and lives on in Asarta’s leadership.
“There’s a variety of elements I think are important. One is honesty, and the other is having a good sense of humor… they build an aspect of creativity. That is something I think Carlos is gifted with that is so critical,” said O’Neill.
Though economics as a discipline is data-driven and analytical, it’s no surprise O’Neill would cite creativity as integral in economics instruction as it was foundational to the CEEE’s educational methodology. Those early impressions have gradually evolved into a meaningful professional and personal relationship over the past decade.
“Professionally, I consider Jim a trusted advisor and colleague; personally, I consider him a dear and loyal friend. We continue to have a strong relationship built on mutual respect and a shared commitment to advancing economic education,” said Asarta.
Former CEEE Associate Director Bonnie Meszaros, who worked with O’Neill and Asarta, details that they have comparable leadership strengths based in furthering K-12 education throughout Delaware.
“[O’Neill] was a huge believer in active learning, and that you couldn’t just lecture kids — you had to engage them in meaningful ways,” said Meszaros.
Meszaros attended O’Neill’s economics course in the ‘70s and learned interactive strategies that engaged her own students. The experiential approach O’Neill used in his classroom became the cornerstone of the CEEE’s programming — offering students an experience of real-world economics concepts and teachers demonstrations of effective, classroom-tested materials.
When it came time for O’Neill to retire in 2013, it was the CEEE’s prestigious reputation and global impact that encouraged Asarta to put his name forward for the position.
“The [UD] CEEE has long been recognized as the gold standard in our field — its reputation is second to none. When I learned about the opening, I didn’t hesitate. The chance to lead such a distinguished Center was compelling… ,” said Asarta.
Although O’Neill wasn’t directly involved in the selection process for his successor, he jokes Asarta made a compelling case for himself, deeming any advocacy on his behalf unnecessary.
Once appointed, Asarta was faced with the challenge of continuing the Center’s progress and upholding O’Neill’s legacy — all while building his own. That transition became more straightforward thanks to O’Neill’s mentorship and the grace in which he entrusted the Center to new management. According to Meszaros, any transition comes with a degree of uncertainty, but the CEEE’s change in leadership was seamless.
“I really admire Jim because I think after all the years he put into economic education, being able to step back and let Carlos create his own path — I would’ve thought it would be hard to do, but Jim did exactly that.”
“Basically, Carlos was able to take what was given to him when I departed and build on it, and has done a phenomenal job,” said O’Neill. “I guess it was almost like taking him out to the swimming pool — since Carlos is a swimmer — and saying, ‘Dive and swim forward.’”
Asarta honored O’Neill’s legacy by maintaining one of his predecessor’s core beliefs: the power of the teacher.
“What stands out most about Jim’s leadership is his commitment to educator empowerment. He didn’t just focus on content delivery; he built programs that elevated teachers as leaders in their own right,” said Asarta.
During his time, O’Neill aimed to advance economic education statewide by implementing the multiplier effect, training teachers and encouraging them to train their fellow educators in turn.
“That philosophy has deeply influenced me. I’ve worked hard to uphold and expand that mission,” said Asarta.
Asarta has also expanded the scale and scope of the CEEE. Former UD Assistant Professor Erin Yetter details the program has grown significantly in recent years.
“The Center now employs a much larger staff, which has allowed them to expand their programs and reach a broader audience,” said Yetter.
Some of the new programming instituted under Asarta has included two conferences for K-12 teachers: the Personal Finance and Economic Education Conference and Econ-O-Ween. To further support educators, Asarta also initiated a faculty retreat to evaluate its programming and launched the Bonnie T. Meszaros Economic Educator of the Year Award.
Apart from honoring the Center’s past, Asarta has implemented changes to ensure students graduate prepared to meet the demands of the modern world. To address today’s educational needs, the curriculum was expanded to offer personal finance education and more digital learning opportunities.
“One of the accomplishments I’m most proud of is integrating more technology and data-driven practices into our work, allowing us to better measure impact and reach new audiences… I believe the contributions our team has made since 2013 are ones of modernization, growth and long-term sustainability,” said Asarta.
As Asarta continues to lead the Center into the future, O’Neill’s impact on economic education remains present not only through the foundations of the Center, but his lasting friendship with the current director.
“Whether we’re discussing the evolution of a program or catching up over lunch, the connection remains meaningful. I deeply value his wisdom and the genuine interest he still takes in the work of the Center,” said Asarta.