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Economic Understanding in US High School Courses

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  • William B. Walstad

Abstract

The effects of courses on student achievement are studied using 2006 data from the National Assessment of Educational Progress (NAEP) in economics. A regression analysis showed expected and significant achievement differences by course, with the highest scores in advanced economics, followed by general economics. Courses in business and personal finance were not substitutes for advanced or general economics courses. A probit analysis showed that students taking economics courses relative to personal finance courses are significantly more likely to think their courses helped them understand the US economy, the international economy, and current events--but not how to manage personal finances.

Suggested Citation

  • William B. Walstad, 2013. "Economic Understanding in US High School Courses," American Economic Review, American Economic Association, vol. 103(3), pages 659-663, May.
    • Handle: RePEc:aea:aecrev:v:103:y:2013:i:3:p:659-63
    Note: DOI: 10.1257/aer.103.3.659
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    File URL: http://www.aeaweb.org/articles.php?doi=10.1257/aer.103.3.659
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    File URL: http://www.aeaweb.org/aer/ds/may2013/P2013_2921_ds.zip
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    References listed on IDEAS

    as
    1. Siegfried, John J & Meszaros, Bonnie T, 1997. "National Voluntary Content Standards for Pre-College Economics Education," American Economic Review, American Economic Association, vol. 87(2), pages 247-253, May.
    2. William B. Walstad & Ken Rebeck, 2012. "Economics Course Enrollments in U.S. High Schools," The Journal of Economic Education, Taylor & Francis Journals, vol. 43(3), pages 339-347, July.
    3. William B. Walstad & Stephen Buckles, 2008. "The National Assessment of Educational Progress in Economics: Findings for General Economics," American Economic Review, American Economic Association, vol. 98(2), pages 541-546, May.
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    Cited by:

    1. Oberrauch, Luis & Kaiser, Tim, 2020. "Economic competence in early secondary school: Evidence from a large-scale assessment in Germany," International Review of Economics Education, Elsevier, vol. 35(C).
    2. Ken Rebeck & William B. Walstad, 2015. "Grades, Coursework, and Student Characteristics in High School Economics," The Journal of Economic Education, Taylor & Francis Journals, vol. 46(2), pages 219-230, April.
    3. Kaiser, Tim & Oberrauch, Luis, 2021. "Economic education at the expense of indoctrination? Evidence from Germany," EconStor Preprints 245801, ZBW - Leibniz Information Centre for Economics.
    4. 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.
    5. Michael Batty & J. Michael Collins & Elizabeth Odders-White, 2015. "Experimental Evidence on the Effects of Financial Education on Elementary School Students' Knowledge, Behavior, and Attitudes," Journal of Consumer Affairs, Wiley Blackwell, vol. 49(1), pages 69-96, March.
    6. Cordero, José Manuel & Gil, María & Pedraja Chaparro, Francisco, 2016. "Exploring the effect of financial literacy courses on student achievement: a cross-country approach using PISA 2012 data," MPRA Paper 75474, University Library of Munich, Germany.

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    JEL classification:

    • A21 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Pre-college

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