Economics education

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Economics education or economic education is a field within economics that focuses on two main themes: the current state of, and efforts to improve, the economics curriculum, materials and pedagogical techniques used to teach economics at all educational levels; and research into the effectiveness of alternative instructional techniques in economics, the level of economic literacy of various groups, and factors that influence the level of economic literacy.[1] Economics education can be seen as a process, science and product; as a process - economics education involves a time phase of inculcating the needed skills and values on the learners, in other words, it entails the preparation of learners for would-be-economics educator (teachers) and disseminating of valuable economics information on learners in other for them to improve their standard of living by engaging in meaningful venture; as a science, it means that it is a body of organized knowledge which is subjected to scientific proves/test; and as a product, economics education involves the inculcation of saleable values/skills/disposition on the learners which are desirable by employers of labour and the society at large.[2][3] Economics education is distinct from economics of education, which focuses on the economics of the institution of education.


Numerous organizations all over the world devote resources toward economics education.[4][5]

In the United States, organizations whose primary purpose is the advancement of economics education include the Council for Economic Education (CEE) and its network of councils and centers, the Foundation for Teaching Economics and Junior Achievement. The U.S. National Center for Research in Economic Education is a resource for research and educational assessment in economics. Among broader U.S. organizations that devote significant resources toward economics education is the Federal Reserve System.

In the United Kingdom there is The Economics Network, a government-funded national project to support economics education in Higher education contexts, and the non-profit Economics & Business Education Association (EBEA) for secondary education. The non-profit organization Rethinking Economics is an international network of students and teachers promoting a change in the economics education towards more critical engagement, pluralism of theories and real-world applicability of the discipline. The movement has gained widespread support, among others by the Bank of England.

On a global scale, especially in Asia and Africa, there is the Global Association of Economics Education (GAEE), a non-profit organization that transforms conventional economics curricula into free, interactive learning platforms that align to daily-life and real-world problems.[6][7]

According to the Ministry of Education and Science of Ukraine, 28.4% of all students receive specialties in the field of economics, trade and business.[8] An attempt to create a Western-style Ukrainian journal called the Ukrainian Economic Review a few years ago ended in failure. The lack of publication of Ukrainian scientists in Western economic journals indicates the seriousness of the problem.[9]

Journals devoted to the topic of economics education include the Journal of Economic Education,[10] International Review of Economics Education,[11] Australasian Journal of Economics Education,[12] and Computers in Higher Education Economics Review.


University-level economics curricula, particularly introductory courses, have been criticized for putting undue emphasis on neoclassical economics and failing to explain real-world economic phenomena such as the financial crisis of 2007–2008.[13] In response, the CORE Project has developed course materials, including a textbook called The Economy, that emphasize real-world applications in economics.[14]

See also[edit]


  1. ^ W.E. Becker (2001). .
  2. ^ "Economic Education," International Encyclopedia of the Social & Behavioral Sciences, pp. 4078-4084. Abstract.
  3. ^ Computers in Higher Education Economics Review
  4. ^ "Top four global organizations that revolutionize economics education". London Post. 2019-07-26. Retrieved 2019-07-26.
  5. ^ "How Technology is Helping the Reform of Economics Education". Gizmodo Blog. Retrieved 2019-07-29.
  6. ^ "Global Association of Economics Education Launches 'GAEE's Silk Road Plan' - Reuters". Reuters. Retrieved 2019-07-07.
  7. ^ "Economics education needs a reform, and it's all about the real world - iBusiness Scalar". University of Southern California. Retrieved 2019-07-07.
  8. ^ [1] Archived 2006-10-12 at the Wayback Machine Higher education
  9. ^ Стан економічної освіти та дослідницької практики в Україні
  10. ^ Journal of Economic Education
  11. ^ International Review of Economics Education
  12. ^ "Australasian Journal of Economics Education". Archived from the original on 2007-02-17. Retrieved 2007-08-06. Cite uses deprecated parameter |dead-url= (help)
  13. ^ Jones, Claire (May 16, 2014). "Economics: Change of course". Financial Times. Retrieved April 19, 2019.
  14. ^ Cassidy, John (September 11, 2017). "A New Way to Learn Economics". The New Yorker. Retrieved April 19, 2019.

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