A Survey of Economic Understanding in U.S. High Schools

Butters, Roger B.; Asarta, Carlos J.

doi:10.1080/00220485.2011.555723

Cited by 11 publications

(7 citation statements)

References 2 publications

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“…Many studies have found significant gender differences in financial literacy of high school students with males outperforming females (e.g., Varcoe et al 2005;Danes and Haberman 2007;Hanna et al 2010;Butters and Asarta 2011;Butters et al 2012). However, Walstad et al (2010) find no significant gender differences in financial literacy among high school students after participating in an intervention program, which is an encouraging sign that the gender gap can be closed by financial education.…”

Section: Introductionmentioning

confidence: 99%

The Connection between Financial Literacy and Numeracy: A Case Study from India

Jayaraman¹,

Jambunathan²,

Counselman³

2018

Numeracy

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Making financial decisions involves mathematical calculations, both simple and complex. It is a welldocumented fact that financial literacy levels among young people all over the world are quite low and that these low levels contribute to various undesirable outcomes with respect to personal financial well-being and the economy as a whole. This study explores the relationship between financial literacy and numeracy by measuring and modeling the relationship between financial literacy and numeracy levels among high school students (N = 586) in India. The results show a strong relationship between numeracy and financial literacy skills. Low numeracy is associated with a 4.8% reduction in financial literacy, while a high level of numeracy is associated with a 5.6% increase. This relationship is robust and held even when controlling for factors including gender, grade, education stream, level of financial education, language of instruction, parental involvement, parental education, family income, and future education plans. Because there is a strong relationship between numeracy and financial literacy, educational policy should consider increasing numeracy skills as one of the means of improving financial literacy. In particular numeracy as it relates to financial literacy (e.g., interest calculations, chart/data comparisons, and interpretations) should be promoted as part of the curriculum.

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Section: Introductionmentioning

confidence: 99%

The Connection between Financial Literacy and Numeracy: A Case Study from India

Jayaraman¹,

Jambunathan²,

Counselman³

2018

Numeracy

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“…Student attitudes toward economics were found to affect student learning, although it could also be that learning affected attitudes. In another article, Butters and Asarta (2011) investigated high school students’ economic understanding by comparing students’ test scores in regular and advanced economics classes, and found that those in advanced classes scored significantly higher than students in regular classes.…”

Section: Literature Reviewmentioning

confidence: 99%

The Effects of theChair the FedSimulation on High School Students’ Knowledge

Duzhak

Hoff

Lopus

2020

The American Economist

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Chair the Fed is an award-winning online simulation developed by the Federal Reserve Bank of San Francisco to teach about the role of the Fed in achieving its dual mandate goals of stable prices and maximum employment. It is widely used, with an average of close to 85,000 games started each month in 2019. This article describes Chair the Fed and the results of a controlled experiment to determine its effects on learning in high school economics classes in the Fed’s 12th district. We find that students who played Chair the Fed score significantly higher on a 10-question posttest compared with students who learned about the Fed and monetary policy in more traditional ways. In evaluating our results, we compare difference-in-difference regression modeling with the traditional economic education model where the posttest score is regressed on the pretest score, and find that our results are robust across both specifications. JEL Classifications: A20, A21, E52, E58

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“…With respect to student characteristics, measures of student intellect or prior classroom performance in multiple subjects are consistently found to be positively correlated with student achievement in economics (Watts ). Students in higher level advanced placement (AP) courses outperform students in non‐AP courses (Butters and Asarta ). Other student characteristics related to economics knowledge and learning in high schools include student gender and race or ethnicity, with male students often outperforming female students and Whites outperforming other races and ethnic groups .…”

Section: Literature Reviewmentioning

confidence: 99%

Lost in Translation? Teacher Training and Outcomes in High School Economics Classes

Valletta

Hoff

Lopus

2014

Contemporary Economic Policy

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. www.econstor.eu The Institute for the Study of Labor (IZA) in Bonn is a local and virtual international research center and a place of communication between science, politics and business. IZA is an independent nonprofit organization supported by Deutsche Post Foundation. The center is associated with the University of Bonn and offers a stimulating research environment through its international network, workshops and conferences, data service, project support, research visits and doctoral program. IZA engages in (i) original and internationally competitive research in all fields of labor economics, (ii) development of policy concepts, and (iii) dissemination of research results and concepts to the interested public. Terms of use: Documents in D I S C U S S I O N P A P E R S E R I E SIZA Discussion Papers often represent preliminary work and are circulated to encourage discussion. Citation of such a paper should account for its provisional character. A revised version may be available directly from the author. Using data on 24 teachers and 982 students from a 2006 survey of California high school economics classes, we assess the effects of student and teacher characteristics on student achievement. We estimate value-added models of outcomes on multiple choice and essay exams, with matched classroom pairs for each teacher enabling random effects and fixedeffects estimation. Students' own and peer GPAs and their attitudes towards economics have the largest effects on value-added scores. We also find a substantial impact of specialized teacher experience and college-level coursework in economics, although the effects of the latter are positive for the multiple choice test and negative for the essay test. JEL Classification:A21, I21

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A Survey of Economic Understanding in U.S. High Schools

Cited by 11 publications

References 2 publications

The Connection between Financial Literacy and Numeracy: A Case Study from India

The Connection between Financial Literacy and Numeracy: A Case Study from India

The Effects of theChair the FedSimulation on High School Students’ Knowledge

Lost in Translation? Teacher Training and Outcomes in High School Economics Classes

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