economic literacy
/ˌiːkəˈnɒmɪk ˈlɪt(ə)rəsi/ · e·co·no·mic lit·er·a·cy
noun
- The ability to understand, interpret, and apply fundamental economic concepts, such as supply and demand, budgeting, and market mechanisms. The school’s new curriculum aims to improve students’ economic literacy by teaching them how interest rates affect personal savings.
- The overall level of economic knowledge and competence within a population or community. Surveys show that economic literacy in the country has risen dramatically since the introduction of free online courses.
Synonyms
financial literacyeconomic understandingeconomic knowledgefiscal literacyeconomic awarenesseconomic competenceeconomic educationmoney savvy
Antonyms
Did you know? The term gained prominence after the OECD’s 2005 report highlighted economic literacy as a key driver of informed citizenship and sustainable growth.