First Economics NAEP Termed ‘Not Discouraging’

Participants in tomorrow’s economy have an uneven grasp of many of the core principles that govern fiscal policy, financial markets, and international trade, national test results released today show.

Just 42 percent of U.S. 12th graders scored at or above the “proficient” level on the National Assessment of Educational Progress in economics knowledge, the first time that subject has been tested under the heavily scrutinized federal program.

Students who achieve a proficient score on the NAEP test in economics, which was administered last year, could recognize a relatively broad set of concepts and relationships dealing with the market economy, the national economy, and the international economy—the three main areas covered on the exam. A test-taker at that level, for instance, can explain the relationship between shortages and market prices, and use data in charts and graphs to analyze economic data or describe economic...