As students advance from elementary school to middle school and high school, their economic understanding appears to decline.
According to the '2024 Economic Understanding Survey' results released by the Ministry of Economy and Finance on the 19th, the average scores for economic understanding were ▲ 61.5 points for 6th grade elementary students ▲ 51.9 points for 3rd grade middle school students ▲ 51.7 points for 2nd grade high school students. This signifies a gradual decline in economic understanding scores as students progress to higher educational institutions.
The Ministry of Economy and Finance explained, "While elementary students scored above 60 points, middle and high school students fell significantly below 60 points, indicating a need for enhanced economic education to improve economic understanding."
Regionally, the average scores in special cities and metropolitan cities were generally higher than those in provincial cities. The top five regions for elementary students based on understanding scores were Daegu (68.6), Sejong (66.9), Seoul (64.9), Daejeon (64.6), and Busan (64), all significantly above the average (61.5).
In terms of individual items, the correct response rates for questions related to rational choice, e-commerce, and investment were high, while the correct response rates for fundamental economic concepts and principles such as inflation, supply and demand, and opportunity cost were low.
In regards to the state of economic education, elementary and middle school students primarily acquire economic knowledge through school classes, whereas high school students appear to use TV and social media (SNS).
In terms of educational methods, students across all levels preferred experiential education activities, such as hands-on activities and field trips, over traditional lecture-based education. Notably, there was a high demand for educational topics covering fundamental economic principles and financial products.
About 6 to 7 out of 10 teachers reported facing difficulties when conducting classes related to economics. Challenges cited included difficulties with material collection and teaching methods, as well as a lack of economic understanding. However, the experience of teachers in economic-related professional training was reported to be low.
The Ministry of Economy and Finance plans to implement various policies to enhance economic understanding and improve conditions for economic education in schools. First, for elementary students, there will be a program providing economic education through the Daesang School, aiming for '10,000 students by 2025.' Additionally, plans are in place to expand and establish new economic subjects in middle school and high school focused on topics with high student demand. To provide experiential economic education preferred by students, a new 'Economic Camp' will be operated utilizing the Taean Economic Training Institute.
Moreover, the foundation for economic education will be strengthened through teacher training and the enhancement of economic education platforms. The Ministry of Economy and Finance plans to develop a new remote training program and expand training opportunities for teachers through in-person training that shares excellent teaching examples, ensuring they stay updated on the latest economic trends.
Furthermore, support for teacher-led economic class research groups will help develop and disseminate diverse teaching methods focused on practical applications. Quality content will also be provided through the economic education platform 'Economic Learning e+' and new media platforms, such as YouTube and SNS, to allow students easier access to economics.