Nick Kristoff‘s OpEd column in today’s New York Times (sub. req’d) will set to racing the hearts of many readers of this blog. His column is about voting, and he makes several points that would not get much of an argument from a roomful of economists. (Wait, scratch that: there is nothing that a roomful of economists will not argue about; anyway…)
Kristof begins by writing that “the pundit with perhaps the most outstanding record” in predicting electoral outcomes “is not a human but rather Intrade, a political betting Web site that has regularly proven more accurate than polls and political experts alike.” (Here’s our Q&A with Intrade co-founder John Delaney.)
Kristof then writes that, “while crowds may be good at making predictions, they’re often lousy at recognizing their own self-interest.” This is an issue we glanced upon here; Kristof points to The Myth of the Rational Voter, a recent book by the economist Bryan Caplan, calling it “the best political book of the year.”
And finally, Kristof argues for a smartening-up of the electorate: “Students usually now encounter statistics, if at all, in college. But simple statistics could easily be taught along with algebra in high school. Likewise, principles of economics could be taught in social studies classes.”
Or, an even more radical solution: principles of economics could be taught in a principles of economics course in high schools. Even though economics is taught more widely in high schools now than it was 20 years ago, I am still always surprised that it isn’t taught much more widely, especially considering how widely it is studied in colleges. Put aside for a moment the low level of financial literacy in this country, which an economics course would certainly help; wouldn’t a principles of economics course in high school help smarten up teenagers not just as potential voters but also as potential parents, tradespeople, doctors, etc.?
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There is a course called “Home Ecnomics” – only it teaches things like cooking/cleaning/sewing.
Personally, I’d like to take the 1 year course and translate it into a – wait for it – Home Economics course. where students are given a budget, and have to deal with taxes/balancing the checkbook/saving (short and long term)/bills, and the like. Teach them why Credit Cards are BAD (save when handled properly, like all dangerous animals), and how to use credit wiesly (instead of paying 150% the value of an item because you wanted it *not* instead of waiting a few months to earn the money).
That would likely do more for students in the future than learning how to bake a cake.
There is a course called “Home Ecnomics” – only it teaches things like cooking/cleaning/sewing.
Personally, I’d like to take the 1 year course and translate it into a – wait for it – Home Economics course. where students are given a budget, and have to deal with taxes/balancing the checkbook/saving (short and long term)/bills, and the like. Teach them why Credit Cards are BAD (save when handled properly, like all dangerous animals), and how to use credit wiesly (instead of paying 150% the value of an item because you wanted it *not* instead of waiting a few months to earn the money).
That would likely do more for students in the future than learning how to bake a cake.
Social sciences are where statistics are really important.
Why not teach statistical concepts along with 6th grade social studies?
Social sciences are where statistics are really important.
Why not teach statistical concepts along with 6th grade social studies?
AMEN!!!!!!!!
I would go further, starting with basic concepts in elementary school and building from there. Kids understand intuitively concepts such as supply and demand – why is an A-Rod baseball card worth more than Rocco Baldelli?
AMEN!!!!!!!!
I would go further, starting with basic concepts in elementary school and building from there. Kids understand intuitively concepts such as supply and demand – why is an A-Rod baseball card worth more than Rocco Baldelli?
In Georgia, principles of economics is a required course. This year a unit of personal finance has been added to the curriculum. In addition Georgia has a required End of Course Test (a Department of Education created test) that is 15% of a students final grade.
I also teach Advanced Placement Microeconomics, which is a college level course. Students can earn college credit for the course if they score 3, 4, or 5 out of 5 on the exam, depending on the college.
Here are the standards that are tested on the EOCT and should be taught in the classroom.
http://public.doe.k12.ga.us/DMGetDocument.aspx/9-12%20Economics%20Stds.pdf?p=6CC6799F8C1371F68588BB72D704865DAF4A518E2CABA2A8873DC32843177E83&Type=D
In Georgia, principles of economics is a required course. This year a unit of personal finance has been added to the curriculum. In addition Georgia has a required End of Course Test (a Department of Education created test) that is 15% of a students final grade.
I also teach Advanced Placement Microeconomics, which is a college level course. Students can earn college credit for the course if they score 3, 4, or 5 out of 5 on the exam, depending on the college.
Here are the standards that are tested on the EOCT and should be taught in the classroom.
http://public.doe.k12.ga.us/DMGetDocument.aspx/9-12%20Economics%20Stds.pdf?p=6CC6799F8C1371F68588BB72D704865DAF4A518E2CABA2A8873DC32843177E83&Type=D