“The Economics of Education.”
Unit Three: Learning Objectives:
North Clackamas School District
Social Studies Priority Standards:
Econ 51 (B): Define economic terms and
identify examples of them in a current
economy.
Daily Learning Target
I CAN…. Write about the significance of
education in relation to our economy
The Economics
Of Education
Daily Learning Target
Please take out a piece of notebook and write ten facts that
support the following position that I will discuss today…..
“The greatest anti-poverty program is a
world-class education.”
-President Obama - 2010 State of the Union
Percent of U.S. Population
100
80
60
40
20
0
1950
1960
College Graduates or More
1970
1980
1990
2007
High School Graduates or More
Source: U.S. Census Bureau
Http://www.his.gov/ops/#tables
$55,588
Advanced Degree
$76,182
$50,468
Bachelors Degree or Higher
$64,636
$44,720
Bachelors Degree Only
$59,644
$31,668
Some College or Assoc. Degree
High School Graduate, No College
Less Than A High School Diploma
Female
Male
$42,120
$26,624
$35,828
$19,188
$25,012
$0 $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 $70,000 $80,000
$1.0
1
million
Professional Degree
4
Doctoral Degree
$2.4
Master’s Degree
3
Bachelor’s Degree
$1.6
Associates Degree
$1.4
Some College
2
High School Grads
Less than High School
6
$4.2
million
$3.5
million
$2.8
million
million
$1.8
million
million
million
22% of America’s
Although 22% drop out of high school, it
is 29% for Latinos, 34% for Blacks, and
49% for Native American students.
34% of Texas high school students drop
out. They are 3 times as likely to receive
welfare benefits.
Dallas ISD reported that their graduation
rate from 1995 to 2008 improved from
38% to 50%. Sadly, 50% is good for
many big cities.
high school students
will leave without
graduating.
How will they
compete in the global
economy?
35% of whites graduate
from college, but only 17%
of blacks and 11% for
Hispanics. 61% of Asians
graduate from college.
Nationally, of 100 students in 9th grade,
31% of women graduate
only 75 will graduate from high school, but
from college, for men it is
only 51 will enter college. Within 6 years,
only 26%. [5% in 1945]
only 22 will have a degree.
93% of Asians graduate
from high school, 83% for
Nationally, 7,000 drop out every day or
whites, 71% for Hispanics,
about 1.3 million every year.
4-17-2006
and 66% for blacks.
• More education leads to higher incomes.
• This leads to more spending on goods & services.
• This leads to less public assistance & less crime.
• This leads to lower taxes and a more vibrant
economy that attracts more business.
• Education costs money but ignorance cost more.
• Or, the only thing more expensive than going to
college is NOT GOING TO COLLEGE.
Final reflection Question
Write a ½ page quick write on the following
quote from the President. Do you agree-why
or why not? Please turn into me and pick up
a test.
“The greatest anti-poverty
program is a world-class
education.”
-
President Obama - 2010 State of the Union
When you are finished with the test……
Pick up the article on Commodities.
Next time we meet we are playing the highly
competitive “A Market in Wheat” Game.
YOU MUST TURN ARTICLE AND
QUESTIONS IN TO PLAY THE GAME
NEXT PERIOD!
It will take one full period to play.
The Wheat Game
[“Lets Get Ready to Rumble!”]