2. “ The Economics of Education.”

3. 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.

4. Daily Learning Target I CAN…. Write about the significance of education in relation to our economy

5. The Economics Of Education

6. 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

8. 1950 1960 1970 1980 1990 2007 100 80 60 40 20 0 College Graduates or More High School Graduates or More Source: U.S. Census Bureau Percent of U.S. Population

10. Http://www.his.gov/ops/#tables $55,588 $76,182 $50,468 $64,636 $44,720 $59,644 $31,668 $42,120 $26,624 $35,828 $19,188 $25,012 Advanced Degree Bachelors Degree or Higher Bachelors Degree Only S ome College or Assoc. D egree H igh S chool G raduate, No C ollege Less Than A High School Diploma Female Male $0 $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 $70,000 $80,000

11. $1.0million $1.6million $1.8million $2.4million $2.8million $3.5million 64321 $1.4million Less than High School High School Grads Some College Associates Degree Master’s Degree Bachelor’s Degree Doctoral Degree Professional Degree $4.2million

12. 22% of America’s high school students will leave without graduating. How will they compete in the global economy? 4-17-2006 35% of whites graduate from college, but only 17 % of blacks and 11% for Hispanics. 61% of Asians graduate from college. 31% of women graduate from college, for men it is only 26%. [5% in 1945] 93% of Asians graduate from high school, 83% for whites, 71% for Hispanics, and 66% for blacks. 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. Although 22% drop out of high school, it is 29% for Latinos, 34% for Blacks, and 49% for Native American students. Nationally, of 100 students in 9 th grade, only 75 will graduate from high school, but only 51 will enter college. Within 6 years, only 22 will have a degree. Nationally, 7,000 drop out every day or about 1.3 million every year.

13. More education leads to higher incomes.More education leads to higher incomes. This leads to more spending on goods & services.This leads to more spending on goods & services. This leads to less public assistance & less crime.This leads to less public assistance & less crime. This leads to lower taxes and a more vibrant economy that attracts more business.This leads to lower taxes and a more vibrant economy that attracts more business. Education costs money but ignorance cost more.Education costs money but ignorance cost more. Or, the only thing more expensive than going to college is NOT GOING TO COLLEGE.Or, the only thing more expensive than going to college is NOT GOING TO COLLEGE.

14. 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

15. 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.

16. The Wheat Game [“Lets Get Ready to Rumble!”]