The Huge Benefits Of High School Economics
As we assess the current economic climate of double-dip recessions and soaring consumer debt, it is important to start addressing the issues that afflict consumers and businesses. In particular, it would appear that the current generation of workers and consumer spenders have a critical lack of awareness when it comes to the basic principles of economics, the social science which governs the production, distribution and demand of a specific product. With this in mind, there would be immediate benefits to teaching this subject in high school as a matter of course rather than of student choice. TUTORIAL: Economics Basics: Introduction
Reducing Consumer Debt
Although consumer debt remained fairly steady throughout 2010, the total still stood at approximately $2,400 billion throughout the whole of the
While mathematics has undeniable value amongst foundation and elementary level students, a more practical application of these principles would be better suited to an advanced learning program. So students could learn about the economic elements of supply and demand, cost, and budgeting in order to develop a greater understanding of personal finance and become responsible consumers of the future. (To learn more about how to deal with personal finance, check out: Run Your Personal Finances Like A Business.)
Encouraging Students into Prosperous Job Markets
There is a worrying gap between the expectations and ambitions of students and the current employment market, and this is a global issue rather than a national one. For example, just 2.4% of surveyed teenagers in the
Creating an Informed and Calm Response to Recession
Despite the omnipresent threat to the
Teaching economics as a core high-school subject would solve this problem, as a wider base of knowledge and understanding would benefit both business owners and the public alike. While small to medium business owners would have better comprehension of their own organization and be able to react in a more measured fashion, consumers would be able to budget more efficiently and continue to invest reduced but significant sums back into a afflicted and recession hit economy. (To gain more knowledge about recession, read 4 Characteristics Of Recession - Proof Companies.)
The Bottom Line
Knowledge breeds assurance, both with regards to our own abilities and the wider set of external circumstances, so teaching economics to high-school students would create a far more prosperous economy for all. Not only this, but it would be a small but vital step towards breaking the cycle of boom and bust, and help to maintain a constant if occasionally restricted period of growth.
by
Lewis Humphries
Lewis Humphries resides in the city of Birmingham, UK, and is a freelance blogger and writer who produces content for Reve News, Chillisauce, DigitalAge Consulting, Carfinance247, Time Square Limousine, SJ Innovation, Netcars.com and many other outlets. His areas of expertise include personal finance and recruitment, where he has managed to gain extensive experience as the blog manager and writer for Simply Hired UK. He also creates and manages content for his clients social media accounts, and is consistently required to generate new ideas that engage and inspire readers. With a diverse writing background that has included more than 80 independent publications of poetry and fiction, he has provided press releases, blog content, website material, Internet marketing posts and sales copy for brands and groups across numerous countries and 3 different continents.
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