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European Journal of Social Sciences - Volume 2, Number 1 (2006) Pre-College Economic Education: Aim, Usefulness and Content Despina Makridou-Boussiou Associate Professor in Economics and Didactics Department of Applied Informatics University of Macedonia 156 Egnatia Street 546 45 Thessaloniki Greece E-mail: bousiou@uom.gr Abstract This paper refers to pre-college economic education. More specifically, the subjects discussed include: the goals, objectives, usefulness and basic concepts of pre-college economic education. Most economists who deal with pre-college economic education point out the following goals: (1) students’ exposure to and understanding of economic concepts, so that they may acquire economic education, (2) the use of the economic way of thinking for decision-making with respect to the resolution of personal and social problems, and (3) the contribution of economic education to the political education of citizens. With respect to basic economic concepts that should be taught at pre-college level, in spite of the fact that nowadays principles of economics courses cover more subjects in terms of content and have become more complex at the analytical level, the paper will focus on the Master Curriculum Guide in Economics: A Framework For Teaching the Basic Concepts (Saunders, and others, 1984). In each case, what will be taught remains an important issue. Keys Words: Pre-college Education, Economics, Economic Literacy, Basic concepts Introduction The emergence of economic phenomena in people’s daily lives is very frequent. It would be very difficult to find certain social, personal or natural phenomena that do not alter the total economic situation of a society or the personal economic situation of an individual. "Indeed, we encounter economics as workers, consumers, savers, and citizens, and we make countless personal and societal decisions of great practical importance every day in response to various kinds of economic issues and problems" (Banaszak, 1987:1). Therefore, in the epicentre of economic science we find an individual person or many people as a social whole, as well as their decisions and activities that arise from their effort to face the consequences of economic events or to benefit as much as possible from them. Economic theory tries to recognize, describe, explain, interpret and forecast the changes that arise from the emergence of various types of economic events. Even though a vast body of knowledge and theories has been created in economic science, the impression should not be given that this knowledge is also the final tool for the interpretation of economic phenomena. Economic science, just as all other sciences, is a continuously evolving body of 172
International Research Journal of Finance and Economics – Volume 2, Number I (2006) knowledge that is subject to additions or revisions, depending of course on the changes that occur to society itself, which also creates the economic phenomena. Notions that were once acceptable are rejected today, for example sixteen-hour workday without insurance. Of course, other ideas that are accepted today were considered problematic in the past. Boskin (1990:19) notes that in the middle of the 1980s an unemployment rate of 6-7%, accompanied by mediocre growth and a low inflation rate of 4% was acceptable for the United States of America. He himself wonders what ever became of the "4- 4-1" rule which they had got used to in the old days; in other words, 4% growth, 4% unemployment and 1% inflation. More recently, respective adjustments to economic goals are being made based on events and tendencies such as globalization, technological progress, immigration or the European unification. Instructively, these changes in theoretical approaches and objectives must provide a basis for a productive and non-dogmatic approach to economic theories and the awareness of countless variables that determine the economic life of societies. Banaszak (1987:1) distinctively notes that "educators generally tend to agree that the discipline of economics is dynamic; the economy and our knowledge of it continue to evolve. Thus, educators must continually assess the economics curriculum in terms of the current status of the academic discipline in order to provide students with the latest and soundest view of economic life in the United States and the world". Aims, objectives and usefulness Most economists who deal with economic education point out the following goals: • Students’ exposure to and understanding of economic concepts, so that they may acquire economic education. • The use of the economic way of thinking for decision-making with respect to the resolution of personal and social problems. • The contribution of economic education to the political education of citizens. With regard to the first goal, McConnell (1990:35) observes that "at the most general level, we would perhaps all agree that we seek to achieve (1) a usable level of economic literacy for those students who do not go beyond the principles course, and (2) a viable foundation of economic understanding for those who will pursue upper-division courses. At the most mundane level, we seek to generate continuing interest in economic issues and problems". With regard to the second goal, Banaszak (1987:5) concludes that "since economics is the study of decision making about the use of productive resources, the central benefit of education for economic literacy should be development of the ability to conduct objective, reasoned analysis of economic issues and decisions are private and public; they pertain to daily personal concerns and to matters of broad economic policy". Sumansky (1986:61) considers that with the passing of time, this second goal has become as important as economic concepts. With regard to the third goal, Banaszak (1987:5) maintains that "informed decision making requires acquisition and use of knowledge of economic concepts and generalizations. This knowledge allows citizens to understand the economic dimension of issues. It permits them to determine and evaluate both the short-term and long-term consequences of potential economic decisions. Economically literate citizens will be more intelligent readers and listeners. This will enable them to participate intelligently in the political process and to be less easily misled by a demagogue. Finally, the economically literate citizens will be life-long learners, capable of incorporating new economic knowledge into their already existing knowledge". On the same wavelength Seiter (1988) adds that the knowledge of economics and its ability to be applied to important problems is an essential element for a responsible coexistence in a democratic 173
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