Economic knowledge among pupils in Austria, India and China: Empirical evidence and cross-country comparison

Abstract

Knowledge of economics is becoming essential for citizens to adapt to economic life. Against this backdrop, the economic education of young people in the general education system has, in recent years, assumed greater importance at the level of education policy in many countries. For this reason, an empirical study was conducted in Austria, India and China. The survey tool examines the economic knowledge, self-assessment, personal interest, and attitude towards economic topics among pupils who are about to finish lower secondary school. The findings are presented and compared based on the respective education system and cultural background. The results demonstrate the feasibility of measuring economic knowledge in a standardised way across three different countries. From a comparative perspective, the results indicate the differences in implementing economic education in compulsory education in these countries and that it is critical to exchange good practices and cooperate for innovation to improve the economic education.