An important benefit of studying economics is learning how to think differently. Economists, for example, study how scarce resources are allocated so that the well-being of individuals is maximized. Whether the resource that is being allocated is income, time, or available commodity, there is always an opportunity cost or compromise and choice involved. Individuals, businesses, and governments face these tradeoffs in countless ways every day. Students learn how to identify, measure, and understand the essential elements of these options, opportunities, and tradeoffs.
Embedded within the study of economics is an understanding of the free enterprise system and capitalism, and the vital roles of entrepreneurship and “intrapreneurship”. Innovation, job creation, wealth creation, and appropriate risk taking are central to traditional American values. Understanding and applying basic economic principles supports economic decision making which is a critical skill of successful global citizens. The 21st century will be defined by the continued integration of world economies and students must be prepared to effectively participate locally, nationally and globally.
The OCEE delivers its programs in collaboration with school districts, local educational service centers, Ohio’s seven university-based Centers for Economic Education, and other like-minded educational organizations like the Ohio Council for the Social Studies, the Federal Reserve Bank and staff from the offices of the Ohio Treasurer of State and the Ohio Attorney General. Partnerships and collaborations help ensure high quality; relevant programs are available to all Ohio teachers and students. We work to directly impact teachers’ skills and knowledge with professional development programs and classroom materials that are tied to Ohio’s Academic Learning Standards. Enhancing an educator’s effectiveness in the classroom translates to student learning-year after year after year.