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Necessity of Economic Education for Youths
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Korea's society developed a new perspective during the currency crisis in 1997-98 _ focusing on saving businesses in the basic market economy. The book "Rich Daddy, Poor Daddy" became a household bestseller and the popular advertising slogan "Become Rich" evolved into a popular New Year's greeting.
However the number of people with bad credit has been increasing recently and individual insolvency resulting from this is reflected in serious social problems such as suicide. Furthermore the results of an economic survey of middle school students conducted by the Korean Economic Daily Newspaper and Samsung Economics Research Institute were unexpected. When questioned on tasks that industry should treat as a priority, 50 percent of respondents answered that industry should "contribute to society" and 11.8 percent should "acquire profits".
This means the structure of egalitarian consciousness has spread and become deeply rooted in Korean society. Another result has been that the degree of mistrust in industry is huge. It is not an overstatement to say that all of these effects have arisen from the absence of proper education on market principles.
In order for us to swiftly bring the $10,000 per capita income era to a close and leap to become an advanced economy, it is most important to help Korea's youth develop an eye for correctly understanding our market economy.
This can be done through education and by complementing the legal, systemic view of the market economy. Nevertheless the current education system is at a standstill because the primacy of entrance examination education is insufficient to engender interest among youth and is found wanting when it comes to furthering a correct understanding of the accumulation of rational wealth. In addition there is a distinct lack of interesting education content involving major personal experience.
In the case of the United States, which is considered the center of the capitalist economic market, surprising as it may be, there is an inclination to put forth enormous effort to instill in citizens, and especially in youth, an understanding of their market economy principles. Hundreds of market economy education programs are carried out throughout the country by government and citizen groups. Among those programs, the National Council on Economic Education (NCEE) holds economic workshops for teachers at economic education centers established in each of the states and provides basic information on economic education; for example, producing economic textbooks for youth.
Junior Achievement, an institution that implements direct economic education for youth, was established in 1919 as a worldwide institution. It now has 151 branches in the U.S. and is found in 113 member countries. Junior Achievement uses a unique operating system wherein volunteers are dispatched from industry to schools to provide free economic education. By having speakers come directly from industries to visit schools, they share with students their practical experiences and offer students the most efficient economic education available. This program is being introduced in Korea and will commence implementation beginning this year
In Korea today, concern over economic education is growing very high. Consumer education, teacher training, education of parents and their participation in economic camps, education on the monetary system and stock market education, starting with private sector institutions through financial companies and government institutions, are rapidly increasing. Each of the programs has elements from economic education in common but differ in what they emphasize in their content and methods of conveyance.
A more effective method for teaching students is to provide them with practical exercises including role-playing and games. Furthermore the economic education programs should involve parents, teachers, students and business volunteers. Every parent wants their child to grow into a sound self-determined adult with economic sense. If youth education in economics does not succeed, these dreams will not eventuate.
Q1) While you were growing up, how did your parents teach you about the value of money and concept of economy or finance?
When you first made money by economic activity, how did you spend the income?
Q2) Do you think the economic education in an early age effect on the people's life eventually? For example, do you think the credit card debtors are not well educated how to spend money wisely?
Q3) What kind of programs in community and school do we need, to cultivate a concept of economy for children including middle & high school students? Or do you think our current education is good enough to instill the concept into children?
Q4) How would you teach your children in relation with money in the future?
(For example, guiding them how to earn, save, spend money or letting them do part-time job)
이 글은「대학연합영어토론동아리」www.pioneerclub.com에서 제공하는 영어토론 정보입니다.
However the number of people with bad credit has been increasing recently and individual insolvency resulting from this is reflected in serious social problems such as suicide. Furthermore the results of an economic survey of middle school students conducted by the Korean Economic Daily Newspaper and Samsung Economics Research Institute were unexpected. When questioned on tasks that industry should treat as a priority, 50 percent of respondents answered that industry should "contribute to society" and 11.8 percent should "acquire profits".
This means the structure of egalitarian consciousness has spread and become deeply rooted in Korean society. Another result has been that the degree of mistrust in industry is huge. It is not an overstatement to say that all of these effects have arisen from the absence of proper education on market principles.
In order for us to swiftly bring the $10,000 per capita income era to a close and leap to become an advanced economy, it is most important to help Korea's youth develop an eye for correctly understanding our market economy.
This can be done through education and by complementing the legal, systemic view of the market economy. Nevertheless the current education system is at a standstill because the primacy of entrance examination education is insufficient to engender interest among youth and is found wanting when it comes to furthering a correct understanding of the accumulation of rational wealth. In addition there is a distinct lack of interesting education content involving major personal experience.
In the case of the United States, which is considered the center of the capitalist economic market, surprising as it may be, there is an inclination to put forth enormous effort to instill in citizens, and especially in youth, an understanding of their market economy principles. Hundreds of market economy education programs are carried out throughout the country by government and citizen groups. Among those programs, the National Council on Economic Education (NCEE) holds economic workshops for teachers at economic education centers established in each of the states and provides basic information on economic education; for example, producing economic textbooks for youth.
Junior Achievement, an institution that implements direct economic education for youth, was established in 1919 as a worldwide institution. It now has 151 branches in the U.S. and is found in 113 member countries. Junior Achievement uses a unique operating system wherein volunteers are dispatched from industry to schools to provide free economic education. By having speakers come directly from industries to visit schools, they share with students their practical experiences and offer students the most efficient economic education available. This program is being introduced in Korea and will commence implementation beginning this year
In Korea today, concern over economic education is growing very high. Consumer education, teacher training, education of parents and their participation in economic camps, education on the monetary system and stock market education, starting with private sector institutions through financial companies and government institutions, are rapidly increasing. Each of the programs has elements from economic education in common but differ in what they emphasize in their content and methods of conveyance.
A more effective method for teaching students is to provide them with practical exercises including role-playing and games. Furthermore the economic education programs should involve parents, teachers, students and business volunteers. Every parent wants their child to grow into a sound self-determined adult with economic sense. If youth education in economics does not succeed, these dreams will not eventuate.
Q1) While you were growing up, how did your parents teach you about the value of money and concept of economy or finance?
When you first made money by economic activity, how did you spend the income?
Q2) Do you think the economic education in an early age effect on the people's life eventually? For example, do you think the credit card debtors are not well educated how to spend money wisely?
Q3) What kind of programs in community and school do we need, to cultivate a concept of economy for children including middle & high school students? Or do you think our current education is good enough to instill the concept into children?
Q4) How would you teach your children in relation with money in the future?
(For example, guiding them how to earn, save, spend money or letting them do part-time job)
이 글은「대학연합영어토론동아리」www.pioneerclub.com에서 제공하는 영어토론 정보입니다.
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