American Students Receive an F in Economic Literacy

The linked 82-page report What Americans Know About Economics follows the old "good news, bad news" routine.

The good news is that almost all Americans believe a knowledge of economics is important and a majority are interested in economics. The bad news is that on a short quiz over key economic ideas adults received a grade of C, while high school students received an F. All 24 quiz questions are provided in the report. I think you'll agree that none of them require much in the way of thinking or knowledge. Why then, the dismal results?

Either a significant number of students are escaping economics instruction or that instruction needs to be improved. The report suggests that many high school economics courses are senior level. Can younger students understand basic economic concepts? I think so. Maybe that would help. Can economics instruction be improved? I've seen the National Council on Economic Education (NCEE) materials used to teach economics and they are outstanding. From what I understand, though, many high school economics teachers teach the course as a sideline rather than as their main assignment. Maybe that'a problem, too.

A knowledge of economics is empowering. Lots of students must feel pretty disenfranchised these days.

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