Education is an investment.
The importance of knowledge and learning has been recognized since the beginning of time. No one truly understood the significance in education until Gary Becker developed the Human Capital Theory. The theory posits that investing in education has a payoff in terms of higher wages. According to the World Bank, an additional year of schooling raises earning by 10% a year.
Investing in education early on is vital to remaining competitive in our global economy. For this reason, the Idaho Council on Economic Education (ICEE) developed and promotes programs that help students (K-12) become more financially successful by helping them understand the workings of the economy – on a national and global scale – and the financial system in which they are growing into.
Knowledge is power.
In today’s ever evolving and increasingly competitive financial marketplace, knowledge is power. Communications have given us the gift of information – more information than ever before! However, more information does not necessarily mean we have more knowledge. Access to information is useless unless we are able to both understand and use it.
Developing basic economic and financial knowledge is important for a society that relies on informed citizens and personal economic decision-making. Economic education helps develop the skills necessary to make sound financial and personal decisions, including: savings, financial stability, home ownership, higher education, or retirement.
As such, economic education is critical to sustainable economic growth. Educated consumers are the key to the success of our nation’s economy, our communities, and our neighborhoods.
Teaching the teacher.
Learn new approaches to teaching and implementing economic curriculum! ICEE offers training and materials to prepare teachers for the Classroom Mini-Economy, Financial Fitness for Life© and the International Economic Summit™. Training includes a one-day workshop and training materials with the option to earn professional development credit through Boise State University.