Availability of Economics Curriculum in Secondary Schools, and Economics and Financial Literacy Content at G1 and G2 Levels
Ministry of EducationSpeakers
Summary
This question concerns the considerations for offering Economics in secondary schools and the availability of economic and financial literacy content at G1 and G2 levels, raised by Mr David Hoe. Minister Desmond Lee responded that secondary schools can apply to offer "O" level Economics based on student demand, teacher availability, and implications for existing subjects. He stated that the Ministry of Education does not plan to require more schools to offer the subject, but supports those with sufficient demand and capability. Additionally, he explained that age-appropriate economic and financial literacy concepts are already taught to all students through existing subjects. These include Food and Consumer Education, which covers financial planning and responsible credit use, and Social Studies, which covers national policies like the Central Provident Fund and economic growth.
Transcript
38 Mr David Hoe asked the Minister for Education (a) what considerations determine which secondary schools offer Economics in their curriculum; (b) whether the Ministry will consider expanding access to Economics courses in more secondary schools; and (c) whether Economics, or related economic and financial literacy content, can be made available at G2 and G1 levels.
Mr Desmond Lee: Secondary schools that wish to offer economics as an "O" level school-initiated elective subject can apply to the Ministry of Education (MOE). They consider factors, such as student demand, availability of economics teachers and implications to their existing subject offerings. MOE does not have plans to require more schools to offer economics, but will continue to support schools that wish to introduce the subject where there is sufficient demand and capability.
All students learn age-appropriate economic and financial literacy concepts. For example, at the primary level, they learn about needs versus wants, saving and budgeting. In secondary school, these concepts are infused into subjects, such as food and consumer education (FCE) and social studies taken by all students. In FCE, students are guided to become responsible and discerning consumers through practising simple financial planning and understanding the responsible use of credit. In social studies, secondary students learn how the Singapore Government supports citizens' economic well-being through policies and programmes, such as the Central Provident Fund and SkillsFuture, and how trade and investment contribute to Singapore's economic growth.