Economic understanding in Upper Austria: Schools rely on new brochure!

The initiative of the OÖ (IWS) initiative has taken a significant step to improve economic knowledge in Upper Austria with the publication of the brochure "Business - Briefly explained". Wolfgang Billinger, director of the Mechanical Engineering in Ried, led the handover of 250 copies. "With this teaching aid, we want to make a specific contribution to being able to better understand and explain economic terms," he said. FACC AG was significantly involved in the implementation of the brochure in order to bring the necessary knowledge in particular, such as Andreas Perotti, Marketing & Communication Manager of the company. The brochure was created in cooperation with the educational directorate Upper Austria and is offered free of charge in schools.

A current study by the Linz research institute Spectra shows that the knowledge of common economic terms has improved in the population, but still remains at an expandable level. With an average of 6.8 out of 23 terms in 2023, compared to 5.2 in 2014, progress can be seen. Nevertheless, basic terms such as "profit", "export/import" or "equity" can only be well explained by less than half of the respondents, and critical terms such as "corporation tax" understand only 16 percent, as the IWS reports. This illustrates urgency to sensitize young people to economic issues. "We have to start early to inspire young people for the world of economy," said Education Officer Christine Haberlander.

positive perspectives through education

The brochure not only serves as teaching material for schools but also as an important resource for interested private individuals. The fundamental decree of the Ministry of Education on Economic Education emphasizes that economic education should be treated across interdisciplinary in order to prepare pupils for their role as an informed economic citizen. The brochure "Economy - Briefly explained" will thus be an effective tool to close the knowledge gaps and enrich the lessons. Over 2,100 copies of teachers have already been pre -ordered, which shows the high demand that IWS finally noted.