Georgia is making changes to ensure all students receive more personal finance instruction they can apply to their daily lives after high school.
The State Board of Education today approved State School Superintendent Richard Woods’ proposed revisions to the current high school Economics course, which significantly expand the amount of personal finance instruction every Georgia high school student receives.
During the revised course, which is required for all Georgia high school students, students will learn about managing and balancing budgets; understanding and building credit; protecting against identity theft and consumer protections; and understanding tax forms, student loan applications, and pay stubs. Students will also receive a foundation in the fundamentals of economic decision-making, microeconomics, macroeconomics, and international economics, with a specific focus on how they can apply that knowledge to their own personal finances.
“The First Lady and I hear all the time from students and parents about the need for more instruction on personal finance skills that students can apply to their daily lives after high school,” said Governor Brian P. Kemp. “Sending our soon-to-be adults into the ‘real-world’ better prepared to make good decisions about their finances will serve them, their parents, and our communities. It’s a much-needed, common-sense change that I fully support.”
“I strongly believe that education is about preparing students for life,” Superintendent Woods said. “I have continuously heard from parents, students, and industry partners that more instruction in personal finance is needed. This revised course will ensure that every Georgia high school student will learn essential life skills like managing a budget, filing taxes, and using credit responsibly, while also gaining an understanding and appreciation of free market principles.”
The revisions to the Economics course were made by an Economics Review Committee composed of policymakers, content-area teachers, and industry experts in the areas of finance and economics. The review committee, facilitated by the Georgia Council on Economic Education, met and proposed changes to the current course standards that would increase personal finance standards within the course without affecting the integrity of the Economics standards. The standards were then posted for a 30-day public comment period, giving all teachers, parents, students, and community members a chance to provide feedback.
The updated course standards will be implemented during the 2022-2023 school year.