Wednesday, May 03, 2006

Economics Should be a Required HS Subject

In light of the recent 'gas crisis',

Micro and Macro Economics should be required subjects for High School students in my opinion. It ought to be fun and engaging and revolve primarily around hands on simulation of moderatly complex industries - ie Gas.

Students should learn how the basic supply & demand economics work in an industry. From the cost/profit of retrieving oil, to shipping it, to refining, to distribution, to the end consumer. They should explore rent control issues. The should see in class simulations what happens to consumers in a monopoly, and what happens to consumers in a competitive industry. And any student/enterprise should be charged with making money and to 'sell' or leave the industry when they believe it is right to do so.

I'm shocked at the lack of understanding by Joe Blow other than how economic issues affect their wallet. We're well on our way to a government run economy.