The Benefits of an Economic Education

High School in Kentucky has English, science, history, and math requirements. It has health and physical education. You can find a complete list here. What it painfully needed though is a requirement that high school students graduate with at least one economic and personal finance class. It makes no sense to not have any classes that will teach our soon to be graduates ready with critical thinking skills and a firmer grasp on the concept of money.

When we teach our children and next generation we want them fully equipped for the modern world. That is why we have taught them math, science, and English. English so they can form sentences and communicate and understand communication with their fellow members of society. Math so they can be employed in the workplace. Science is for a better comprehension of the natural world in which we live. All of this is to make informed citizens.

Without requiring economic and personal finance teaching in high schools and in some places not even offering it we do a disservice to our students. They are missing out of an important and integral part of society. People in today's society just as in the past need to know about the interest that will be charged on a loan, how to balance a checking account, and most importantly budget. Just those few tricks will save money and time for the average person and they will appreciate that they can understand the monetary world around them. They might have some knowledge about how the economy works which is a complicated organic beast. They will also learn strong problem solving and critical thinking skills learning about economics.

Now I am biased I graduated with a degree in Economics but I never had it in high school. I learned a little from reading on my own and going to the Governor's Scholars Program in Kentucky. Both of those were good. Some people will not have the opportunity to study it in college or have the direction and determination for self-study as a high school student.

An education in basic economics will in my opinion better the student body in meaningful ways. We want to give our students the best way forward in life and prepare them for the real world. Economics and personal finance are a good place to start in Kentucky. It is already required in some states. All states though would benefit and the populace will also benefit.