Economics education

Read Any Good Economics Books Lately?

June 17th, 2017

Okay, so the other day a good friend of my at our Think Tank asks me if I had read any good economic books lately, not a question anyone would generally ask, after all, why would anyone go out of their way to read an economics book? Well, I am one, and the book I recommended to him, is one I would also recommend to you:

“Econopower: How a New Generation of Economists is Transforming the World” by Mark Skousen; Published by John Wiley and Son, Hoboken, NJ; 2008.

This book demonstrates how everything we see, buy, own, do and dream of is indeed governed by economics. Our decisions, our religions, or politics, is all about economics. Education, science, history, law and finance, he show evidence of the reality that economics is the way we do, whether it is about the individual, the leaders, societal changes or the movement of America at a national level. Even more interesting is the fact as the author shows that the US is exporting these ideas, the same ideas initiated by Adam Smith.

Health Care, Education and even crime all are governed by economic theory in one way or another, perhaps even without reading this book you can understand the similarities through a little thought and understanding. This author takes that and develops it into a deep and interesting researchical study of all we are, all we have built and all we think that we know.

And just to let you know this author is no dummy, he formerly was an analyst for the CIA, wrote for Forbes Magazine, past President of the FEE (foundation for economic education), he also has a PhD in economics from George Washington University. The man has credentials and the information in the book and the thinking and philosophy is extremely interesting and worthy. I recommend this book to anyone.

Did You Find What You Need To Know About Adult Education?

June 10th, 2017

Its quite regrettable that because of some reasons beyond their control, many adults have to drop out of school untimely. So, the desire to go back to school is rekindled when they come in contact with their mates who are doing well in life. But many of these adults are at loss on what to do to go back to school.This article will help you with the basic information you need on adult education.Adult education is highly recommended if you are matured and desire more in life.Also, it is a means of acquiring knowledge in any field of endeavor.

You can choose from many adult education courses or programs out there. There are conventional courses such as accounting, finance, economics, education and other non-conventional courses like coaching, motivational speaking, cookery, parenting etc. Many traditional colleges and universities are now offering adult education for matured people like you who desire to further their education.

One of the popular courses that many adults like you are enrolling for daily is computer literacy or any other courses related to information technology.This is because of the technology driven world we are living in. So, any adult that does not know about computer or information technology may find himself irrelevant in today’s organizations. But with adult education, it is now possible for you to be up to date in the knowledge of computer.

What is required for enrolment in adult education is not as stiff as other kinds of education. This is because the adults coming for the program have different experiences.These experiences are not the same. Certain level of education may be required in addition to the fact that you are working and have been ding so for many years.Irrespective of the requirements for registration, the institutions out there are willing to take you. They want you to advance your career.

If you want, you can stay at home and have your adult education program sent to you.In other words, there is no need for you to attend classes in the institution’s centre.The course materials can be sent to you at home. You do the learning when you are free. You are not under any tight schedule. The problem of the mail not getting to you on time is often the bane of the course material being sent to you. However, the good thing about this is that you acquire the knowledge and become what you want to be. It is not too late for you to start.

Why Financial Literacy Education Will Save Our Nation From Economic Ruin

June 2nd, 2017

Over-borrowing among students happens when they are not educated on loan repayment options and paying for college. In other words, a lack of financial literacy can create a series of debt problems that can last a lifetime.

You can put a lot of blame on the unbelievable costs of college that have contributed to the mammoth numbers of outstanding student loan debts. There is, however, another thing that has a direct impact on this grave situation – the level of financial literacy among students. Being na├»ve in this situation leaves them unable to cope with the confusing maze of financial aid and student loans, leaving them in financial hardships even after finishing school.

According to an article on USNews.com, the national student loan debt toppled $1.1 trillion. According to this article, more than $26,000 is accrued by each student upon graduating. Repayments of these debts are extremely hard because the borrowers are already in financial constraints and have no savings. At the time of borrowing, these students don’t know what they’re getting themselves into and are not educated on their repayment options.

When discussed with the director of policy and federal relations at the National Association of Student Financial Aid Administrators, Megan McClean, she replied: “It comes back to a financial literacy issue and making sure students understand what they’re getting into, how much they’re borrowing and understanding there are different options for them at the end.”

Back in August of this year, President Barack Obama pledged that the Department of Education will be reaching out to struggling borrowers and enroll them in what will be an income-based repayment plan. The sad reality is that barely 10% of the millions of federal loan borrowers are enrolled in such a plan. While talking about these plans, McClean added, “Those programs really are under-utilized when you consider how many students we have going into default.”

It has also been seen as a common practice for these students to give up repaying altogether because of the confusion in repayment options. Defaulting on their student loans can seriously damage their credit scores and also cause cuts in wages. Lauren Asher, president of the Institute for College Access and Success believes that keeping the default situation unresolved can ultimately take bites out of the Social Security checks of such students.

“It’s crucial that borrowers are getting good and timely information about repayment options before they fall so far behind that they default. They need to know that these plans exist,” Asher said. She further added, “The default rates that just came out are just the tip of the iceberg.” Asher’s experience suggests that most of the defaults done by borrowers are due to not knowing of any flexible options of repayment. Borrowers also think that they can get away by defaulting. What they don’t understand is that once they default, they can never enroll in a similar program ever again!

Many experts believe that financial education should be started at a much earlier stage. Some states have also mandated including financial education to as early as K-12 curriculum. However, in a 2011 survey by the Council for Economic Education, not more than 20% of the teachers believe they are competent in educating students on personal finance.

The corporate responsibility leader at PricewaterhouseCoopers (PwC), Shannon Schuyler also shared her opinion on financial literacy. In 2012, PwC made a pledge to invest a comprehensive $160 million in educating students, teachers and parents on the financial issues.

“You have a certain number of states that have mandated financial literacy, and we hope that those continue to grow. But even in those states where it’s been mandated that students have (financial education) before they graduate from high school, those teachers don’t know how to teach it,” said Schuyler.

She further discussed the importance of financial literacy, which can affect where you’ll end up living, what items you’ll be able to buy and how soon you’ll be able to consider starting your own family. The whole idea of financial literacy is to groom individuals into becoming better equipped to enjoy their life without having to worry about a decision they made without understanding the consequences.