Economic Literacy, The Importance Of

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The economic illiteracy problem that most American’s are stricken with can be solved by a stronger economic curriculum presented at the secondary school level. By educating the future of American adults financially, the U.S. should expect to see less dependence on federal funding in the once highly dependent lower and middle classes. “Economic literacy” will allow people to make better decisions regarding the personal and social choices that arise throughout ones lifetime (Walstad). Allowing students to gain a fundamental knowledge of economics will ensure one feels not only included, but able when economic discussions and pertinent economic issues arise
There is no set curriculum on an economics education in high school throughout the nation. Only 16 states in the U.S. require that a separate economics class be taken, the other states have it as a senior elective or do not carry it at all (Walstad). Steps have been taken to standardize the integration of a mandatory government (civics) class, but why not a separate economics class? A study of high school transcripts in the U.S. reveals that 44 percent of students take a separate economics class. Some state officials think that the study of economics is too complex and difficult, and should be taught only in college; but nothing could be farther from the truth. Waiting for students to be in college to give them an economics foundation is risky considering the fact that secondary schooling is the end of most student’s formal education. The students who do continue their education in college will most likely not take an economics class. (Walstad). Therefore, it is important to implement the curriculum at a young enough age to ensure the opportunity that it will be offered to them.
For teachers to effectively teach and integrate an economics curriculum, three aspects must be present. First, the teachers must be knowledgeable of the subject and must be able to teach students how t...