SAVANNAH, Ga. (WSAV) – Georgia’s State Board of Education approved Thursday proposed revisions to the current Economics course for Georgia high schools.

According to the Georgia Department of Education (GaDOE), the revised course will teach students about managing and balancing budgets; understanding and building credit; protecting against identity theft and consumer protections; and understanding 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 a specific focus on how they can apply that knowledge to their own personal finances.

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

“I strongly believe that education is about preparing students for life,” said State School Superintendent Richard Woods, “I have continuously heard from parents, students, and industry partners that more instruction in personal finance is needed. This revised course will ensure that every Georgia high school student will learn essential life skills like managing a budget, filing taxes, and using credit responsibly, while also gaining an understanding and appreciation of free market principles.”  

The Economics course is required for all Georgia high school students.

GaDOE says the revisions to the Economics course were made by an Economics Review Committee composed of policymakers, content-area teachers, and industry experts in the areas of finance and economics.

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