This report investigated the effect of Kazanjian Foundation Award Programs for Teaching Economics (KFAP) on elementary school children, grades four through six. The research was designed around three groups -- users of Kazanjian materials with teacher training, without teacher training, and users of normal curriculum materials. Teacher training consisted of a five-week summer session using four randomly selected KFAP units with follow-up during the school year. Student progress was measured by pre and post instruction use of the Test of Elementary Economics and pre instruction use of the John Flanagan Test of General Ability. Teacher progress was measured by pre and post instruction use of the Test of Elementary Economics and pre instruction use of the Test of Economic Understanding (TEU). After statistical analysis, the data indicated a significant contribution to the understanding of economic concepts and practices among elementary students by Kazanjian materials. Moreover, training of the teachers gave students a comparative advantage. Teacher competency in economics measured on the TEU also contributed to improved student performance. The results reinforced continuation of the Kazanjian program and suggested the usefulness of further follow-up research. (JH)