Why is Economics Education Important?
October is Economics Education Month – A time to promote the importance of economic education and to help all students understand how economic decisions and policies affect their lives, their communities, the state of Montana, and the world.
Governor Gianforte recognizes October as Economics Education Month with a Proclamation noting Econ Ed equips students with invaluable skills and tools to help ensure they are well rounded and well prepared to thrive and achieve their American dream.
The Montana Council for Economic Education’s mission is to empower Montana’s youth by improving their economic and financial decision-making. MCEE’s vision is to improve the quality of life for current and future generations through better public and private decision-making.
MCEE brings its programs to the classroom with experiential learning simulations in entrepreneurship and investing. The Council also hosts state competitions with the Montana Economics Challenge where Montana’s winning team competes regionally for a chance to travel to New York City for the National Economics Challenge.
MCEE is proud to have reached 3,690 students last year with 94 teacher partnerships across 80 Montana schools. We are motivated to increase our impact by expanding our programs to new communities, particularly schools that are under-served or lack the resources for dedicated economics instruction.
The field of economics examines the ways in which choices are made and shows us that incentives and trade-offs drive choice in rational and predictable ways. When armed with economic principles, Montanans consider opportunity costs when making decisions that can impact their lives.
There is momentum in Montana with the recent Board of Public Education’s update to graduation requirements that will now include a half credit of economics or personal finance for all graduates by July 2025. Now is the time you can get involved.
We encourage you to learn more in supporting these important life skills by partnering with MCEE at www.econedmontana.org, emailing firstname.lastname@example.org, or visiting with your school district, administrators, or teachers to ensure high-quality economic education is available in your community.
Economics is all around us. It teaches us that scarcity forces everyone to make choices, and our choices come with costs. Students with a clear understanding of basic economic principles will be equipped to make educated decisions.
By studying how our economy works, young people can also learn how to make efficient choices in managing their own scarce resources. Economic education involves teaching children decision-making skills they can apply to all areas of their lives. These same skills are necessary to make informed choices as engaged citizens.
Preparing our children for success in life involves teaching them critical decision-making skills when they are young. Providing teachers with innovative and meaningful educational opportunities is one of the most important things we can do to ensure prosperity in our students' lives and in our communities.
Economic education must be established and maintained in our K-12 schools. Even young children are capable of learning basic economic concepts that help them understand their economic world.
Economic education in our schools depends on K-12 educators being equipped with high quality training and resources to ensure students have equitable access to classroom experiences that develop the skills necessary to make informed choices as individuals and members of their community.
October is Economic Education Month #EconEdMonth
Throughout October, educators, families, and community leaders can promote economic education in many ways:
Families can have conversations about how they make decisions for their home. Teachers may invite community and business leaders to visit their students to share how their decision-making process compares to families making choices every day.
Business and government leaders can reach out to educators to offer help in promoting quality economic education in schools.
Teachers should visit their state council web site to learn about economics competitions or register for a workshop or webinar.
Use #EconEdMonth to join the conversation and share your experiences with economic education.