ICAEW teams up with charity to build education in economics

ICAEW is backing a campaign to encourage schools to devote more time to providing education on economics, with the aim of raising its profile within the personal, social, health and economics education (PSHE) module, in a bid to equip students with a deeper understanding of how the economy operates

The ‘Bringing Economics into Schools’ campaign to develop and promote resources for economics education is being executed by economics education charity Economy, with financial support from ICAEW.

The charity says that currently, economics education in schools is limited to the non-statutory subject of PSHE education, and that within PSHE (an already sidelined subject), economics is sidelined further still. Out of the four subjects, it has the least time devoted to it in schools, and the fewest resources available.

It also points out that the resources on hand solely cover microeconomics. This omits the complementary macroeconomics, looking at the broader context of the pupil’s place in society, how they affect the wider economy, and what tools are at their disposal to shape the economy around them.

Vernon Soare, ICAEW chief operating officer, said: ‘Our aim is that a higher proportion of future generations would have the tools, skills and confidence to scrutinise, debate, and question economic proposals and decisions, and how these are accounted for. Equipping students and all young people with these skills at school is vital. We are endorsing Economy to assist and equip teachers in the challenge to develop practical and usable curriculums in this respect – so that students can benefit from understandable economics.’

As part of the campaign, over the course of two years, Economy will provide thought leadership and sample resources for basic economics education suitable for a classroom setting, work with representatives of the teaching profession to establish the most usable, practical, engaging method of teaching economics at school, and build relationships with political institutions and the PSHE association to campaign for statutory change.

Report by Pat Sweet

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