WASHINGTON -- Federal Reserve Chair Janet Yellen says that the study of economics not only can help students manage their personal finances but also provide them with the skills for analytical and critical thinking needed for success later in life.

To promote the study of economics, Yellen held a national town hall meeting Thursday night with teachers gathered at the Fed's headquarters in Washington and in groups listening in at Fed regional banks around the country.

"Economics provides knowledge and skills of practical use in college and in the workplace and it also provides skills to plan and make wise financial decisions," Yellen said.

In her prepared remarks, Yellen made no comments on the economy's current condition or the future path of interest rates.

"Everyone is engaged in and depends on the economy and nothing is more critical to a healthy and growing economy than the capability, creativity and productiveness of its workforce," Yellen told the teachers.

"Whenever I am asked what policies and initiatives could do the most to spur economic growth and raise living standards, improving education is at the top of my list."

Yellen said that consumers, whose individual spending decisions account for two-thirds of economic activity, can better weather hard times if they have the proper training.

"Stronger household finances overall can help sustain growth, stabilize the economy and mitigate an economic downturn," she said.

In her remarks, Yellen put in a plug for what she called the most important teaching aid the Fed produces, a 182-page book called "The Federal Reserve System: Purposes and Functions." She urged the teachers to check out the new 10th edition of this book on the Fed's website.