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The Test of Economic Literacy: Development and Results

Author

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  • William B. Walstad
  • Ken Rebeck
  • Roger B. Butters

Abstract

In this study, the authors report on the revision of the Test of Economic Literacy for the fourth edition. The Test of Economic Literacy is a nationally-normed and standardized measure of the economic understanding of U.S. high school students. The economic content of the test is based on the Voluntary National Content Standards in Economics , which is used to establish the content validity for the test. The revision process is described and evidence on the test reliability and construct validity is presented from the test score analysis. The Test of Economic Literacy has a long and successful history of use by educators and researchers interested in economic education in high schools. The new edition should provide an improved instrument to continue that testing and research work.

Suggested Citation

  • William B. Walstad & Ken Rebeck & Roger B. Butters, 2013. "The Test of Economic Literacy: Development and Results," The Journal of Economic Education, Taylor & Francis Journals, vol. 44(3), pages 298-309, September.
    • Handle: RePEc:taf:jeduce:v:44:y:2013:i:3:p:298-309
    DOI: 10.1080/00220485.2013.795462
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    Cited by:

    1. Oberrauch, Luis & Kaiser, Tim & Seeber, Günther, 2023. "Measuring economic competence of youth with a short scale," Journal of Economic Psychology, Elsevier, vol. 97(C).
    2. Kuhn, Christiane & Zlatkin-Troitschanskaia, Olga & Brückner, Sebastian & Saas, Hannes, 2018. "A new video-based tool to enhance teaching economics," International Review of Economics Education, Elsevier, vol. 27(C), pages 24-33.
    3. Kaiser, Tim & Oberrauch, Luis & Pang, Ming Fai & Seeber, Günther, 2021. "Using the ‘Test of Economic Competence’ with secondary school students in Hong Kong: Results and psychometric properties," EconStor Preprints 236205, ZBW - Leibniz Information Centre for Economics.
    4. Michael Jüttler, 2020. "Predicting economics student retention in higher education: The effects of students’ economic competencies at the end of upper secondary school on their intention to leave their studies in economics," PLOS ONE, Public Library of Science, vol. 15(2), pages 1-27, February.
    5. Vivian Carstensen & Roland Happ & Olga Zlatkin-Troitschanskaia, 2020. "Second-Generation Immigrants’ Entry into Higher Education: Students’ Enrollment Choices at Different Types of Universities," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 46(1), pages 126-160, January.
    6. Michael Goedde-Menke & Carsten Erner & Michael Oberste, 2017. "Towards more sustainable debt attitudes and behaviors: the importance of basic economic skills," Journal of Business Economics, Springer, vol. 87(5), pages 645-668, July.
    7. Tim Kaiser & Luis Oberrauch & Günther Seeber, 2020. "Measuring economic competence of secondary school students in Germany," The Journal of Economic Education, Taylor & Francis Journals, vol. 51(3-4), pages 227-242, August.
    8. Lucia Savadori & Giuseppe Espa & Maria Michela Dickson, 2020. "The polarizing impact of numeracy, economic literacy, and science literacy on attitudes toward immigration," Papers 2011.02362, arXiv.org.
    9. Li Liao & Jing Jian Xiao & Weiqiang Zhang & Congyi Zhou, 2017. "Financial literacy and risky asset holdings: evidence from China," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 57(5), pages 1383-1415, December.

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