Today, it is important for student's to be aware of economics and its consequences. Economics is defined as the branch of knowledge that is concerned with the production, consumption, and transfer of wealth which impacts everyday lives and the lives of others. There are many business aspects to life such as making decisions regarding how much money to spend on certain things, how much money to save, and how much money to invest in things in the future. Students who are not knowledgeably informed about economics will face complex issues as adults. Their decisions may be based off of misunderstandings, incorrect assumptions, and fallacies. It has been said by many that the need for economic literacy is needed by students. Often school districts and teachers include economics within their curriculum but the focus is simple such as vocabulary words and distinguishing between Microeconomics and Macroeconomics. It has been brought to attention that many teachers are relying on sources outside the classroom for students to become more educated on economic content. If educators fail to acknowledge the relevance of economics within students personal lives this can result in misconception along the line. Teachers often say that economics is a subject best taught in high school however, not all students enroll in an economics course. With that being said, lack of knowledge in economical concepts will fail even in students everyday lives.
Teaching the class about Economic decision-making modeling helped myself and others become more knowledgeable about how to engage in Economics. I will definitely use this modeling process in my classroom one day. I feel that it is extremely beneficial for students to approach tasks using a step-by-step process.
I also agree that it is important for students to be educated on economics, in order to be successful members of society. If we teach students about economics early on, then they will face less issues as adults. Through researching for, and listening to the class PowerPoint on economics, I too was able to become more knowledgeable about how to engage in economics. i think you effectively reflected on your economics experience. Great post Amanda!
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