Micro Economics

May 20th, 2015
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Aberystwyth University
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"Economics is the only field in which two people can share a Nobel Prize for saying opposing things." Specifically, Myrdal and Hayek shared one.

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Teaching and Learning Economics. ERIC Digest. Schools in the United States have a civic mission--the development of knowledge, skills, and attitudes needed for responsible citizenship in a constitutional democracy. This mission cannot be fulfilled without effective teaching and learning of economics in elementary and secondary schools. Educators are challenged to transform knowledge in the discipline of economics into lessons on economic literacy for citizenship, which involves the "ability to conduct objective, reasoned analysis of economic issues" (Banaszak 1987, 2). How well are educators in the United States meeting the challenge of developing economic literacy in general education for citizenship? Does economics have a solid place in the core curriculum of secondary schools? Do most young Americans have the capacity to apply knowledge in economics to public issues and problems? Results from nation-wide administration of the TEST OF ECONOMIC LITERACY indicate serious deficiencies in the teaching and learning of economics in schools. This ERIC Digest examines (1) the economic learning of secondary school students, (2) the means to improve the place of economics in the curricula of elementary and secondary schools, (3) the means to improve classroom instruction in economics, and (4) the implications of improved teaching and learning of economics. WHAT DO STUDENTS LEARN ABOUT ECONOMICS?High school students in the United States tend to be ignorant of key ideas in econo

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