Use It or Lose It: Teaching Literacy in the Economics Principles Course

The Principles of Economics course, as taught at most colleges and universities, is a missed opportunity to improve economic literacy. The course fails because it does not teach students how to apply economics to their personal, professional, and public lives. A strategy for refocusing the Principles course on economic literacy is presented. A one-term course that will improve economic literacy for students who take a single course in economics is proposed. A follow-up course (Principles Two) that will equip students for further work in economics, business or other majors that require more background in economics is proposed. Concepts to keep, add, and delete from principles of microeconomics courses are discussed.