The importance of economic literacy

In the world of globalization, international markets and world-wide competition it is important for students to be well informed about the underlying economic concepts. Knowledge about economics, termed ‘economic literacy’, has become as important as being literate in reading, writing and arithmetic. For each country and educational system the importance of economic literacy is tied to educating its youth to be capable of understanding, thinking and acting according to basic economic principles. Based on the Australian setting this book sheds light on the growing importance of economic literacy as reflected in the States’ curricula and as measured in a recent survey conducted across Queensland.