Assessing Economic Understanding in the Early Grades‪.‬

INTRODUCTION In contemporary society, it is becoming increasingly important for students to have a working understanding of the economic principles guiding the market. More often than not, educational institutions tend to focus economic teachings on secondary school students, who are closer to entering the market as independent consumers and/or producers. However, the foundation for an understanding in economics should begin much earlier than this; specifically the basic principles of economics should be implemented into curriculum for students as young as kindergarten. By introducing economics in these very early grades, students will be able to build on the principles they learn throughout their school years and more readily identify with these principles in their own experiences outside the classroom. However, educating elementary students in economics is not the norm; rather it is often ignored for many reasons, including a perceived lack of need for economic education, time constraints in the classroom, and inadequacy of teachers in the field.