An Assessrrent of Children's Economic Knowledge

2006For many years, Korean economic educators have been concerned about childfen's economic illiteracy. This study attempts to measure the economic knowledge of Korean 5th and 6th grade students in comparison with that of u.s. students. ln addition, this study peforms regression analyses to identJfy vafious factors influencing Korean children's test scores. According to the fesults of the test administered, Korean children have less economic knowledge than American children, thus confirming the fears of Korean economic educators. in pafticular, Korean students are weak in such basic concepts as opportunity cost, supply and demand, and competition. ln addition, they are weaker in forms of useful comprehension than In forms of moree factual knowledge. The regression analyses also suggest that female 6th grade students, those who fead more books, those with positive attitudes towafd social studies, those from higher-income familes, and urban area students tend to have highef test scores