This is the fifth of nine economic principles, which applies to the give-and-take nature of trading anything, baseball cards or making a donation. Voluntary exchange only takes place when each party feels they gain more than they give. While many students believe “gaining” only counts when it’s monetary, California Council on Economic Education, CCEE, explains the definition of “wealth” as “the subjective evaluation of one’s well being.” When you trade, economically speaking, the good feeling you gain has equal weight as monetary gain. With this thinking, students gain the confidence they need to take control of their decisions, and responsibility for the outcomes, to drive their success. They are changed for the better for life.
Did you know:
The California Council on Economic Education has set some big goals to tackle and reverse these trends — and we need your help to reach our goals. We will track our results and share updates with those who join CCEE. Here’s our high-level plan to improve the economic literacy of Californians:
Goals – By 2015:
What – Together we can teach California’s K–12 students how to:
Why – Benefit California communities and their students
How – CCEE will:
When – These goals are accomplished when California realizes:
Make a donation today to teach economics and prepare today’s students for tomorrow’s economy.
* Reducing the high school dropout rate by 2% will add 2,000 more graduates per year in California. 2,000 more graduates x $10,000 would earn $20 million more per year or $800 million over their 40-year career. Alliance for Excellent Education: “Dropouts from the class of 2008 will cost California almost $42.1 billion in lost wages over their lifetimes.
Sources: California Department of Education; U.S. Census; FINRA Investor Education Foundation; Learning Points Associates (2009). Brown, Smith and Stein (1995). Linking teacher support to enhanced classroom instruction. Paper presented at the annual meeting of the American Educational Research Association. New York, NY. Cohen and Hill (1997). Instructional Policy and Classroom Performance: The Mathematics Reform in California. Paper presented at the Annual Meeting of the American Educational Research Association, Chicago, IL.