Banking and Policy Issues Magazine

December 1998



Why Johnny Can't Choose

The Minneapolis Fed offers six key concepts of economic literacy


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From Morality to Moscow

Special section includes seven papers from leading authorities on economic literacy
  • Hope and Danger for Economic Literacy
  • Why it's Important to Understand Economics
    Some may think that economics is too difficult a subject to be taught to children and youth, and that such instruction should wait until college. Nothing could be more incorrect.
  • Moral Misunderstanding and the Justification of Markets
    I suggest that many of our students, including some of our most thoughtful ones, are reluctant to let themselves be captured by the economic way of thinking because they see economic theory as at bottom an elaborate justification for an immoral society.
  • How Economists Can Improve Economic Education
    Teaching them well is part of the solution. But it is not enough. We should increase our participation in programs designed to provide economic training for K-12 economics teachers.
  • Who Values Economic Literacy?
    Even if we had better data on total dollar value of this support for economic education, we would not be able to identify the benefits to an individual on completing a course or curriculum in economics.
  • The Challenge of Economic Literacy in Post-Soviet Countries
    Russia's economic crisis is the most immediate, but fear runs through the other transition economies of the former Soviet Union and Central and Eastern Europe. What can economic literacy mean in a region where the road to a market economy is so rough?
  • The Case for Economics in the Elementary Classroom
    If economics is such an integral part of people's lives and an understanding of economics is critical in helping people comprehend the modern world and make decisions that shape the future, then why isn't economics taught in the schools beginning in the elementary grades?
 

 
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