Question

In 2-3 well written paragraphs respond to this journal prompt: When you are done, please submit your work to this Dropbox.

Do you think schools should teach basic financial concepts? Would people be more careful of their financial situation if they knew more about how the financial institutions work? Would that benefit the world economy? The economy of our country?

Answer 1

Answer

Basic financial concepts are very important for anyone. People rarely know how to properly manage their incomes. So, it is important for them to learn financial concepts to save for the future. Hence, schools as the institution that forms our citizens must include these topics in their curriculum.Teaching financial concepts in the classroom is one promising way to improve financial capability and economic success for young people and ensures that all kids have an equal opportunity to learn about finances, regardless of their family’s financial background or experience.

In particular, if people know how banks works, how do stock exchange sites work, etc. they would know what to do with their money in terms of investment.

Citizens knowing basic financial tools is beneficial for both the country and the world. A significant part of economy is in charge of what people spent money, how small business grow and life quality. US has a big role in world economy. Hence, the better it gets, the better for the world. Ideally everyone must know financial concepts. However, this is a major task. For now, we can focus on making our and our cities' economy better.