The Case for Economic Literacy
Why Study Economics
As a new academic year begins, students across the world are deciding on their major and which courses to take. One of the most valuable decisions students can make is to prioritize economics, whether as a major or by taking Principles of Microeconomics and Principles of Macroeconomics as electives.
Economic literacy is more than a classroom thought exercise. It is a practical skill that will serve you every day. It is the ability to understand how markets operate, to recognize shifting landscapes, and to anticipate changes that affect careers, industries, and communities. In a world where the economy touches every decision, economic understanding is essential.
At the end of this article, you can listen to an interview between
and about economic literacy in today’s economy.The Case for Economics
Studying economics develops a mindset that is both analytical and adaptable. Students learn to evaluate trade-offs, interpret data, and connect policy decisions to real-world outcomes. These skills are critical for future leaders in business, technology, healthcare, law, government, and beyond.
A strong economics program also builds a quantitative foundation. Pairing economics with coding, data visualization, and communication courses equips students with the tools to analyze complex information and clearly present solutions. Employers increasingly seek graduates who can combine technical skills with strategic thinking, and economics provides that bridge.
Staying Ahead
Education does not end at the classroom door. Staying informed on economic and business trends is what turns academic training into a real-world advantage. The ability to interpret headlines, understand policy shifts, and anticipate industry disruptions is what separates those who react from those who lead.
Decode Econ exists for this reason: to make sense of economics and to provide the insights students and professionals need to stay ahead.
The Bottom Line
Regardless of career path, economics is a foundation worth building. It helps students think critically, act strategically, and engage confidently with a world in constant motion.
This academic year, invest in economic literacy. Take the principles courses. Build data and communication skills. And stay informed.
Understanding the economy is no longer optional— it’s essential.
Why Major in Economics- this video has 225,000 views on YouTube. Here is an edited version for you. The one reason you should, and should NOT major in Economics.
Marketplace and Economic Literacy
You can hear
on Marketplace with on a special episode released today about the “real costs of what’s happening right now.”
Totally agree. Can we also force all politicians to take Econ?
College is too late for teaching basic financial literacy and Econ. The US has only 22 States that require it as part of their curriculum and with students increasingly needing to understand the longterm impacts of loans to finance college, we're creating data voids in knowledge base.
Inflation, interest, credit, etc, those are topics we need a better foundational understanding before college (assuming that we stay at parity with enrollment). We're asking young adults to enter into financed aquisitions without them understanding basic present value versus future value implications.
I'm on the Behavorial side of Econ and mapping out the decision tree of young adults continues to expose the failures we're making in educationing them on finance/econ early enough so that they don't make poor decisions later due to a lack of understanding.