My answer would be yes. However, I would frame the requirement differently. I would suggest that the study of economics with an emphasis on financial literacy would be of enormous benefit to high school students. In late 2008, the Principal of the high school my daughters attended told me that "she had never seen" the students so upset. They did not have the tools to understand what was happening in the world, their parents seemed terrified, and they were suddenly being told that college costs (even where parents had saved diligently) were a far greater concern.
I told her that I believed in one hour I could go all the way from what a stock is (not a piece of paper you trade but part ownership of a company) and bonds to the housing crisis to credit derivatives and what had happened. This talk was late 2008, and many of the dynamics I discussed then are now well understood--but at the time were not.
In any case, they had an all school assembly, decided to invite middle schoolers as well, and I gave a one hour presentation. I subsequently posted the slides and video at http://www.TheFinancialStorm.us. In the following year, I received notes from many high school and community college teachers who indicated they were using these materials in their classes. A link at the Business Week Exchange US Economy section also led to about 12,000 visitors --- and I suspect most were adults who were also seeking to understand the crisis.
In short, I believe a central problem the nation faces today--both among teens and many adults is the lack of clear explanations to complex issues and problems. How many people really understand health care reform? Unfortunately, the explanations of facts have become mixed with rhetoric and dogma by our politics. We have more access to information -- as a society as a whole -- but the cacophony is drowning the basic understanding that we need to have meaningful discussions.
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A comment on Conversation: Should basic economics now be a required subject in high school and/or college?
My answer would be yes. However, I would frame the requirement differently. I would suggest that the study of economics with an emphasis on financial literacy would be of enormous benefit to high school students. In late 2008, the Principal of the high school my daughters attended told me that "she had never seen" the students so upset. They did not have the tools to understand what was happening in the world, their parents seemed terrified, and they were suddenly being told that college costs (even where parents had saved diligently) were a far greater concern.
I told her that I believed in one hour I could go all the way from what a stock is (not a piece of paper you trade but part ownership of a company) and bonds to the housing crisis to credit derivatives and what had happened. This talk was late 2008, and many of the dynamics I discussed then are now well understood--but at the time were not.
In any case, they had an all school assembly, decided to invite middle schoolers as well, and I gave a one hour presentation. I subsequently posted the slides and video at http://www.TheFinancialStorm.us. In the following year, I received notes from many high school and community college teachers who indicated they were using these materials in their classes. A link at the Business Week Exchange US Economy section also led to about 12,000 visitors --- and I suspect most were adults who were also seeking to understand the crisis.
In short, I believe a central problem the nation faces today--both among teens and many adults is the lack of clear explanations to complex issues and problems. How many people really understand health care reform? Unfortunately, the explanations of facts have become mixed with rhetoric and dogma by our politics. We have more access to information -- as a society as a whole -- but the cacophony is drowning the basic understanding that we need to have meaningful discussions.