OK on economics

Some 42 percent of high school seniors are proficient in economics and 79 percent have basic understanding, according to the Nation’s Report Card.

One out of 10 high school seniors who took a new national test could analyze the impact of the unemployment rate on the economy. Two out of five knew enough about tariffs to determine why domestic industries would push for them. And three out of five could identify factors that drive up the national debt.

It’s the first time the National Assessment of Educational Progress has evaluated economics literacy. About a third of states require economics for high school graduation; 87 percent of students receive some econ instruction.

Given the percentage of seniors with poor reading and math skills, the results are “not discouraging,” an official said.

Update: Opinion Journal says students understand economics better than most members of Congress.

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  1. Walter E. Wallis says:

    42 percent? What is the percent republicans in high school.

  2. Catch Thirty-Thr33 says:

    How many of them, or adults, for that matter, understand this, what is in many ways the ULTIMATE rule of economics? Very few, I’d wager.

    Res tantum valet quantum vendi potest.