What does an Economics Teacher do?

An economics teacher instructs students in all aspects of how the exchange of money for goods and services affect society worldwide. She customarily provides this information through lectures and assigning textbook readings on the subject. Economics is a common high school subject and is sometimes taught at the middle school level as well.

To successfully impart information on economics to her students, an economics teacher frequently creates economic scenarios that her students can relate to and apply to their daily lives. Framing a social science that is traditionally defined as examining the consumption, distribution and production of services and goods in a student-friendly presentation is frequently key to the success of an economics teacher. She may also incorporate her own experiences into her lectures to increase student interest.

An economics teacher may initiate discussions on the pros and cons of different cell phone plans to illustrate important economic points. This can normally illustrate the basics of profit and loss as they apply to the cell phone companies as well as consumers. Comparing the cost of buying lunch at the school cafeteria with a local fast food restaurant is also good way to illustrate the difference between the prices that profit and non-profit organizations charge for comparable goods.

After the students grasp the basics of economics, the teacher customarily builds on that knowledge through introducing more complex terms and methodologies. She generally discusses the concepts of supply and demand and economic growth and depression as it applies to societies. The benefits and disadvantages of different types of consumer loans are often considered a timely subject of interest to many students.

Another common educational approach used by an economics teacher is to give each student an imaginary amount of money, customarily identified as net monthly income, along with a list of expenses that exceed the amount of income. She then assigns each student to calculate how he or she will distribute the money to the best advantage. This teaches the basic principles of economics concurrent with providing a lesson in how to handle the realities of life.

To be an effective economics teacher normally requires a good rapport with students as well as an understanding of their perception of money as it relates to them and the world in general. A bachelor’s degree is the common minimum educational requirement, along with a teaching certificate normally required by the region or vicinity in which the teacher works. A good understanding and ability to explain accounting principles, banking procedures, financial data analysis and financial markets is desirable.