With the ever-changing economy, equipping high school students with a solid understanding of economic principles and financial literacy is more important than ever. However, the number of economic and financial literacy courses offered at the high school level throughout the United States remains consistently low, with some high schools continuing to offer no courses. “Only 22 states require high school students to take an economics course” (Iasevoli, 2018). More recently, there has been a slight push so “as of March 2023, about 24% of students go to schools that uphold the “gold standard” of personal finance education, according to NGPF, where it’s both required and comprehensive” (McNair, 2023).
Economics and financial literacy courses in high school play an important role in preparing students to understand the economy and their place in affecting the economy. These courses provide students with an understanding of topics applicable to the real world, such as supply and demand, inflation, and the global market, so that students can later be responsible participants in the economy. AP Microeconomics teacher, Bryan Williams, suggests, “It is important to get students to start thinking about how their choices will affect them from an economic standpoint, especially with them leaving for college and being out there on their own”.
High school is supposed to prepare students to become adults and enter their post-secondary lives. Economics and financial literacy courses equip students with the skills to make informed financial decisions, such as budgeting, investing, and credit management. In some cases, if students are interested in pursuing a career in business or economics, financial literacy courses might provide a headstart before college. Lindsey Prochot, an 11th grader taking AP Microeconomics this year, is interested in a business-related career and “[thinks] that AP Microeconomics should be offered at every school as an elective” as it is “a fun class that allows for a better grasp of how we interact with the economy”.
Economics and financial literacy courses in the high school curriculum are essential in creating informed, accountable, and capable citizens who are prepared to take on the economic challenges in today’s society. As educators and policymakers consider the components of a well-rounded education, the inclusion of economics and financial literacy courses should be prioritized.
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Name of 2 people you interviewed, title/position, email if possible
Bryan Williams, AP Microeconomics Teacher at Walter Payton College Prep, bmwilliams27@cps.edu
Lindsey Prochot, Junior at Walter Payton College Prep, lgprochot@cps.edu
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