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Fritzie -

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Should basic economics now be a required subject in high school and/or college?

For at least a couple of generations, high school students in the United States have been required to take a course in Government. Universities often require a course in American History and Institutions as well.
Part of the justification for this requirement is that one role of education is to prepare all young people to engage in civic life in an educated and active way.
Economics, however, has not been a requirement thus far at any level.
Has the time come for economic literacy to become a priority and requirement either in high school or at university or both?
I come to this question because there are so many issues that concerned citizens can understand and assist constructively in solving if they have an understanding of basic economics and would have much less leverage to contribute productively if they don't.

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  • Aug 2 2012: In the first world: yes.
    In the third world: ¬°YES!

    The young are restless and want to change the world. Unfortunately they often apply simple answers to complex problems, sometimes doing harm to very causes they wish to help. If they understood basic economics, their effort would be so much better harnessed for the good of society. With knowledge in basic economics, they would not only want to change the world, but would know what parts of the world need changing, and which we should let time iron out.

    Most of our waking time is dedicated to making a living. If you do not understand economics you will have a very limited understanding of the world. The same principles studied in economics can explain, or at least help explain, situations found in many other areas that have nothing to do with money. Economics and Biology have a very crossover of concepts. In biology it can help explain the development of ecosystems, the need for stable weather, the food chain balance, the importance of microbes, Without at least basic economics, these issues are hard to grasp.
    Economics will make better citizens, more able and willing to defend our basic rights. Take the Occupy Wall Street movement. There have been abuses of the system and people are right to be upset. However, their movement was wasted by being spread out against the system itself. I believe that if economic literacy had permeated, those people would have focused their efforts on the few companies, or specific rules that have led to abuse. This would have had a positive effect. What a great loss. An entire social movement of rightful indignation was wasted!
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      Aug 3 2012: "I believe that if economic literacy had permeated, those people would have focused their efforts on the few companies, or specific rules that have led to abuse. "

      Felipe do you see that there was favoritism between the goverment and some companies like Solyndra or GM where as companies owned by the Koch brothers use very little favoritism yet were protested against by OWS?

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