RBA have spotted a problem
Last year Jacqui Dwyer from the RBA addressed the Business Educators Australasia Annual Council Meeting regarding the decline in Economics enrolments in high schools in New South Wales. She observed that despite its vital importance for students' lives fewer were taking it and that the subject has in her opinion an 'image problem'.
'Economics is not the only analytical subject to have been displaced by new and arguably less demanding subjects. The same challenge has arisen for STEM subjects'. However we have seen alot about the need to increase STEM numbers and little about the need for students to learn Economics.
Read Jacqui's speech here - Studying Economics: The Decline in Enrolments and Why it Matters.
It is interesting to note that in Western Australia, despite a broadening of the number of available courses in Year 11 and 12, Economics numbers have decreased less than those in some other established HASS subjects. It will be interesting to see the impact of the inclusion of Economics and Business as part of the mandated HASS syllabus for Year 5 to 10 after several years of reduced delivery in some schools as the staged transition from the Curriculum Framework to the Western Australian Curriculum took place.