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Economicliteracy

Economicliteracy refers to the ability to identify economic problems, costs,benefits and analyzing incentives in economic situations. It helpsexamine the shortcomings of economic conditions and public policiesas well as analyzing costs against benefits. The main objective ofdisciplinary literacy is to teach students how to read, speak, andwrite and also think like professions in that area (Durband et al.,55). It is important to state that, for students to understandeconomics, they must be in a position to read and interpret criticaltexts in economics, write and explain the economic concepts and alsothink of issues in an economist’s point of view (Brandt 60). Aclear understanding of these steps will lead to a more meaningfulknowledge in this area.

Majorityof students taking economic for the first time at the initial levelsof their education are not aware of what it is to become aneconomist. Many would simply argue that economics is about money (De67). Contrary to their thoughts, economics is a discipline that givesa general introduction of economics to the entire world with crucialelements of micro and macroeconomics. Different fields are exploredsuch as demand and supply, market, market failure and elasticityamong others. Students are expected to cover units such as inflation,exchange rates, monetary policies and economic growth among others(Weaver &amp Frederick 56). These are classified under themacroeconomics. Further, this economics covers units of incomedistribution, market structure, industries and labor market allclassified under microeconomics. As they advance, these units arecovered in depth using different theories and strategies such asmonetarism theory.

Thereare different things that a new student should expect when studyingthis discipline. Like any other discipline, the difficulty of eachdiscipline varies according to the student’s attitude. An interviewwith an economy professor showed that most students perceive everydiscipline as hard during the first semester, but they only require alittle more effort in order to understand the important concepts(Durband et al., 78). Further, he stated that these students arefrustrated at first, but after they overcome this, it becomes easierfor them.

Likein any other disciplines, course work is paramount. Students areexpected to participate in class work. This is the best way to learn.This training mainly focuses on the ability of the student tounderstand (Wood et al., 24). It is key for students to note thatwhat they learn at the initial levels will be discussed in detail atthe next level and hence the need to understand the basic concepts.Students should understand that the units in the discipline ofeconomics relate to each other, and would be very difficult tounderstand a unit at a higher level lacking a basic foundation at thefirst level (Weaver &amp Frederick 76).

Astudent who aspires to be successful in this discipline must doresearch in different sources to inform on the current issuesimmerging in the industrial sectors (Kent 67). One is encouraged toresearch and read widely. For instance, students are encouraged towatch BBC news because they have educative sections that would bebeneficial to an economic student. They are also encouraged to readbusiness or economically related articles to broaden their scope. Thelanguage used in these articles is not complicated, and it is not ajargon. It might discourage a student at first, but with time itappears simple. An interview with a prominent businessman encouragedeconomic students to read economically related news in order tosucceed in this discipline.

Accordingto a scholarly report, students in the economic discipline areencouraged to ahead of they will be learning (Driver 45). Forinstance, if they will be studying a particular subject next week,they are supposed to read on the topic today so that by the time thetutor discusses the issue with the class, they will have learned mostof the vocabularies thus making the lesson livelier.

Inorder for a student to write in the discipline of economics, it iscrucial that he learns how to read first. There are differentguidelines that have been established in order to help the student toread effectively. In the analysis of a scholarly article, textbooksare a quick example. These provide an introduction to the specifictopics relating to particular issues (Brandt 33). Students should payattention to the key ideas being discussed. Further, they help thestudent read an article and come up with the relevant ideas. One canalso write an essay pointing out what is required. When reading thesetextbooks, students should be keen on highlighted and bulleted pointsbecause the author stresses the importance and wants the student tounderstand thoroughly. On the same point, these textbooks providedistinct writing styles that are related to this training (Moran etal., 17).

Inthe analysis of a trade publication, reading an economics or tradejournal helps students in their reading, writing and research skills.Students should read to understand. Economists argue that tradejournals improve students thinking and writing skills. Learners arerequired to pay attention to the introduction and conclusion theabstract on these journals to understand the concept as well asnoting the key points (Wood et al., 29). The other key area thatstudents should note in this discipline is that they should study theunits, take notes. This assists them in creating thesis statements.The consequences of inadequate research of particular topics make ithard for students to differentiate between main points and subpoints. The rhetorical purpose is achieved through research conductedby economics.

Studentsare further required to learn different types of writing in thediscipline of economy. Theoretical is a type of writing where astudent writes about a particular economic idea according to the datahe has researched (Brandt 38). Theoretical involves mathematics.Empirical writing compares values of expected and observed data. Thisalso involves charts, graphs and tables. Students should note thateconomics is in most cases fact-based and rarely does it call forone`s opinion. Some of the mathematical models used by economists tosolve and make decisions are scientific application (Moran et al.,21).

Reflectionmemo

Inview of this discipline, literacy is analyzed as the ability tounderstand and use knowledge from texts in different contents. Thisis primary means through which academic disciplines take place. Thisis achieved by drawing the cultural funds of knowledge that studentshave. The literacy problem amongst students is. As a result, of howcolleges view literacy and their modes of developing it. In order tomake disciplinary literacy in economics a success, it should be aresponsibility observed by all teachers and applied on all subjectareas. Further, schools play a big role in improving literacy skillsof students. Many students are capable of reading outside schools,but this is not reflected when they are in classes. The study showedthat after school programs help students develop in their literacy.

Economisthas proven to be an evolving social science that is related toframing of economic policies in the entire world. This is adiscipline associated with individual`s way of life by studying howpeople create wealth and increase their welfare, how they manage thescarce resources and how their wealth grows in a specified period. Ineconomics, one learns every day.

Adata sample from first-year students in economics in our collegeresponded to questions relating to the difficulties of learningeconomics. Most of the students’ link economics to their real life.When students leave school, business of life becomes their concern.With the assumptions of economists that the economy might worsen,these students will be well equipped. It is evident that economics isa better discipline as it helps students understand the forcesswirling around them and develops their analytical skills that assistthem in various fields.

Workscited

Brandt,Deborah. Literacyand Learning: Reflections on Writing, Reading, and Society.San Francisco, CA: Jossey-Bass, 2009. Print.

De,Rooy J. EconomicLiteracy: What Everyone Needs to Know About Money &amp Markets.New York: Crown Trade, 2011. Print.

Driver,Stephanie S. EconomicLiteracy: A Complete Guide.Tarrytown, N.Y: Marshall Cavendish, 2010. Print.

Durband,Dorothy B, and Sonya L. Britt. StudentFinancial Literacy: Campus-based Program Development.New York: Springer, 2012. Print.

Kent,Calvin A. EntrepreneurshipEducation: Current Developments, Future Directions.New York: Quorum Books, 2009. Print.

Moran,Michael G, and Martin J. Jacobi. Researchin Basic Writing: A Bibliographic Sourcebook.New York: Greenwood Press, 2010. Print.

Weaver,Frederick S. EconomicLiteracy: Basic Economics with an Attitude. Lanham:Rowman &amp Littlefield Publishers, 2011. Internet resource.

Wood,Karen D, and William E. Blanton. LiteracyInstruction for Adolescents: Research-based Practice.New York: Guilford Press, 2009. Print.