"How come economics isn't taught in school, Mr. Lenz?"
A decade ago, a teenager from Cologne tweeted, "I'm about to turn 18 and don't understand taxes, rent, or insurance. But I can analyze poetry in four languages." The backlash was immense; the teachers' organization responded, and the Education Minister vowed to improve the situation. Since then, little has changed, according to a survey by the Friedrich Naumann Foundation.
The majority of German high school graduates express dissatisfaction with their economic education. "The knowledge taught is not particularly good," says Justus Lenz, Director of the Liberal Institute at the Foundation, in the "Die Stunde Null" podcast. "And that hasn't changed."
The Liberal Institute of the Friedrich Naumann Foundation has been researching the state of economic education among young people and children for years. Lenz explains, "We want to create equal opportunities. Teaching children and young people about practical matters like insurance and investment should not be entirely dependent on their parents, who may or may not teach it."
But why is public education important?
Lenz: "Economic education is part of civic education. Ideally, you should learn about democratic institutions at school, and we manage that pretty well. However, the foundation of these institutions - economic issues - is often neglected."
So, what are the findings of the institute's research?
The most important discovery is that the taught knowledge is not good and hasn't improved. Researchers from the University of Siegen examined 40 textbooks and teacher manuals. They observed how entrepreneurs are portrayed, how social justice is addressed, and the role played by the state. Surprisingly, entrepreneurs appear infrequently while the state usually appears as a universal problem solver.
Why is economic education often overlooked?
This could be due to several reasons. First, economics is often taught as part of history or politics by teachers without specialized training in the subject. There's a need for a standalone subject on economics taught by trained economics teachers.
Some people argue that ideological influences may come into play, or that companies might try to provide teaching materials. Aren't these concerns valid?
Lenz: "If we don't teach about economics in schools, children and young people will learn about it elsewhere. skeptics should trust academics who design the subject to do so objectively. Our studies show that there's strong interest in these topics among children and young people."
Critics may claim that the Friedrich Naumann Foundation - an FDP-affiliated organization - has a vested interest in teaching about investing, given its ties to the financial sector. How do you respond to that?
We are an independent organization, but we share the same values as the FPD. While we promote liberalism, it's unlikely that everyone in the financial sector would be particularly keen on teaching about investments, especially with low-cost products like ETFs.
Nils Kreimeier spoke to Justus Lenz. The interview has been slightly edited for better readability.
Listen to the latest episode of "Die Stunde Null":
- Women's role in economic education
- How investing is taught at school
- Who could advance economic education
You can access all episodes directly on RTL, Apple, Spotify, or Google. https://www.rtl.de/d/hauptausgabe/sendung/die-stunde-nulle,90322, vl=17353560
Economic education is crucial to understanding how society works and making informed decisions. However, it remains neglected in most schools. This series explores different aspects of economic education, from its role in civic education to the importance of unbiased learning materials, and the individuals driving this change.
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The lack of adequate economic education in schools has been a concern for many years, as highlighted by Justus Lenz from the Liberal Institute. He suggests that economic education is essential for civic education, providing individuals with the knowledge needed to understand societal functions and make informed decisions. Despite the efforts made by organizations like the Friedrich Naumann Foundation, the quality of economic education in German schools remains subpar, leading to dissatisfaction among high school graduates.
Source: www.ntv.de
