During this economic downturn, many people need to find ways to trim their expenses and budget their money more effectively. However, we increasingly live in a consumer culture where ads proclaiming the next big deal are at every turn. It is extremely important that we, as consumers, learn how to choose the best deal for a product when every store is claiming to have the best price for that item. Math is essential in this process and will only help consumers get the biggest bang for their buck. Furthermore, although the government is imposing stricter regulations on credit card companies, I continue to see numerous enticing ads that seem to offer incredible deals on credit cards that contain an awful lot of small print. As this current financial crisis has shown us, credit card companies exist to make money not necessarily help the consumer. It is important to read the fine print and compare offers (or cut expenses and budget more effectively in order to save money!) so that consumers do not find themselves in continuous financial predicaments. As time goes on, we live in an increasingly financially complex world so math and problem-solving skills can only become more essential to being a savvy consumer.
I think financial literacy is one of the most essential awarenesses we can offer our students, and while math education is the most likely place to make this happen, there are interdisciplinary possibilities, too. Looking at the history of money, finance, banking, etc. makes sense. In English class, students could study the art of persuasion & propaganda. In science class, students could look at the chemistry of food production and why junk food (full of cheap chemicals) is less expensive than whole food (at least on paper).
ReplyDeleteI wouldn't be surprised to see the NCTM standards revised to reflect more emphasis on consumer know-how.