Financial Knowledge: The Least Favorite But Most Valuable by Mena

Financial Knowledge: The Least Favorite But Most Valuable by Mena - June 2018 Scholarship Essay

For the majority of my high school career I didn’t know the first thing about economics or anything financially related. As the years passed I realized how problematic this would be as I approached graduation only to be shoved into the adult world of taxes, loans, debt and interest rates, all of which I didn’t know the first thing about. How was I to make informed financial decisions as an adult when I had such little knowledge on the topic? Though very few courses were offered, my high school didn’t make any type of economic or financial class a graduation requirement. I found this concerning and took it upon myself in my second semester of senior year to enroll AP Macroeconomics as an elective credit.

The material was unlike anything I’d been introduced to in any other class I’d taken, making it quite challenging at times, but once I had gotten a solid grasp of the different concepts I truly felt more educated and informed. I began to comprehend economic news and understand how economics impacts day to day life. I realized how closely economics ties into politics which made me reevaluate my prior political beliefs and now after taking the course, I feel more confident in making a financial decision because I truly understand how the American economic system operates. The benefits of taking my first economics class far exceeded anything a study hall or extra gym class could have offered. I feel that I look at life differently and make better choices, financial or not, as a result of this elective course.

I would not have emerged from high school with financial confidence if I didn’t take an economics course. In a graduating class of nearly 400 students only about 30 of us elected to take AP Macroeconomics meaning only about 7% of my peers took up an opportunity to become financially informed. A course with such a great amount of real world value and application should be required for all students to take. It’s easy to pass up economics when a student can easily elect to have a free period, but the students will never have the opportunity to be taught such valuable lessons in a high school setting or pace again.

Society as a whole benefits from education. The standard of living for a country, state or town increases because those making decisions that can impact a whole community are able to make the most productive and educated choices. Economic decisions are made every day in every capacity and a single financial decision made by any one individual can impact a larger community. The students of today must be prepared to make such crucial decisions so the United States can avoid another stock market crash or even hyperinflation. This can only be done if today’s generation of students are required to learn about economics. With a financially educated society, generations to come will be able to live in a country with unfaltering economic security and will ultimately enjoy higher standards of life.