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American Economic Review: Vol. 103 No. 3 (May 2013)


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Economic Understanding in US High School Courses

Article Citation

Walstad, William B. 2013. "Economic Understanding in US High School Courses." American Economic Review, 103(3): 659-63.

DOI: 10.1257/aer.103.3.659


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.

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Walstad, William B. (U NE)

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A21: Economic Education and Teaching of Economics: Pre-college

American Economic Review

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