Economic education: what kind of consumers are we creating

Abstract

Economic education is overlooked in the United States public education requirements. Students endure course after course in physics, chemistry, mathematics, and English; all of which are vital subjects. However, students emerge with the ability to properly graph a parabola, but not how to obtain a mortgage. By evaluating the detrimental effect of financial illiteracy on crime rates, socioeconomic status, and ability to perform executive functions, it is reasonable to suggest the need for economic education in K-12 schools. Increased economic education can influence more informed fiscal policy, and a better understanding of how to protect oneself during the inevitable economic downturns. This can be achieved not only through student coursework, but through the proper education of those who teach economics.