SAVANNAH, Ga. (WSAV) – The Georgia State Board of Education on Thursday approved proposed revisions to the current economics course for high schools in Georgia.

According to the Georgia Department of Education (GaDOE), the revised course will teach students to manage and balance budgets; understanding and building credit; protection against identity theft and consumer protection; and understand tax forms, student loan applications and pay stubs.

Students will also receive a foundation in the fundamentals of economic decision-making, microeconomics, macroeconomics, and international economics, with an emphasis on how they can apply this knowledge to their own personal finances. .

Officials hope students will be able to apply the extended personal finance education to their daily lives after high school.

“I firmly believe that education is about preparing students for life,” Public School Superintendent Richard Woods said, “Parents, students and industry partners have continually told me that more personal finance training is needed. This revised course will ensure that every high school student in Georgia acquires essential life skills such as managing a budget, filing taxes, and using credit responsibly, while gaining an understanding and appreciation of market principles. free.

The economics course is compulsory for all secondary school students in Georgia.

GaDOE reports that the revisions to the economics course were made by an economics review board made up of policymakers, content educators, and industry experts in finance and business. the economy.

The updated course standards will be implemented in the 2022-2023 school year.