Economics in schools: The key to more entrepreneurship!

Economics in schools: The key to more entrepreneurship!

A current study by the ifo Institute and the Johannes Gutenberg University Mainz (JGU) shows that the introduction of economics as a school subject contributes significantly to promoting entrepreneurship in later professional life. According to the study, the likelihood of entrepreneurial activity increases by four percentage points when economics is taught as a compulsory subject. These findings are based on an analysis that looks at people entering ninth grade between 1952 and 2007, the years when economics was made compulsory in the curriculum. The results show that sound economic education particularly promotes students' independence, regardless of their family background or their parents' entrepreneurial activity. uni-mainz.de also reports that the design of lessons is crucial for long-term success.

The study comprehensively analyzes individual survey data from the Socio-Economic Panel (SOEP) and reform data at the federal state level. The rule here is that students who entered the 9th grade in the year in which the compulsory subject of economics was introduced are considered to be directly affected by the reform. It is also interesting that despite the increase in entrepreneurial activity, the probability of being employed in the public sector remains unchanged. This suggests that business education can activate entrepreneurial potential without discriminating against other professional fields.

The role of economics education

The study makes it clear that teaching content is crucial to effectively preparing students for the challenges of professional life. Professor Karl-Heinz Paqué calls for greater integration of economic topics into the curriculum, as economics is often viewed skeptically in many German schools. Critics such as Thomas Hoppe criticize the one-sided and ideological presentation of economic concepts in school textbooks, which hinders access to market-based solutions.

The need to expand economic education is further underlined by Germany's current economic situation. The finding that Germany is in a more tense economic situation after a golden decade is worrying. The reasons for this are a variety of factors, including bureaucratic hurdles, one-sided dependencies in energy supply and inadequate reform policies in the pension system. These challenges make entrepreneurial spirit and innovative ideas essential.

Theses on economic education

In view of the challenges mentioned, the Friedrich Naumann Foundation, in collaboration with The Young Entrepreneurs, formulates seven theses on economic education. These include, among others:

• Ökonomische Bildung muss verstärkt werden, um Schüler auf das Leben in einer demokratisch-marktwirtschaftlichen Ordnung vorzubereiten.
• Fehlerfreie Vermittlung ökonomischer Bildung ist notwendig; Schulbücher müssen korrekt und pluralistisch sein.
• Ökonomische Bildung sollte von Fachleuten unterrichtet werden.
• Ökonomische Bildung muss in der Aus- und Fortbildung von Lehrkräften verankert werden.
• Ökonomische Bildung muss ideologiefrei erfolgen.
• Inhalte müssen an der Lebensrealität von Kindern und Jugendlichen orientiert sein.
• Ein eigenständiges Fach Wirtschaft/ökonomische Bildung sollte in allen Bundesländern eingeführt werden.

These theses illustrate the urgency of improving economic education in schools and reforming curricula. In this way, students are intended to be better prepared for the reality of the labor market and to receive the necessary skills for future entrepreneurial activities, which is necessary to master Germany's economic challenges. insidebw.de and freedom.org underline the importance of an integrative approach in economic education.