Recession doesn't change students' econ savvy Associated Press Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Updated 1:07 pm, Wednesday, April 24, 2013 WASHINGTON (AP) — The Wall Street meltdown of 2008 and the ensuing recession did little to help make high school seniors financially savvy and less than half of them have a solid understanding of economics, according to an Education Department report released Tuesday. In real terms, that might mean that students might have difficulty understanding the impact of a poor credit rating, the relationship between consumer spending and higher unemployment or how inflation can eat away at pay raises. About 10,900 high school seniors at 480 public and private schools took the economics test as part of the 2012 National Assessment of Educational Progress, more commonly called "the nation's report card." Students from private schools performed better than those at public schools, while males scored higher than females. Since the 2008 economic crisis, education officials have added economic instruction to their classrooms.
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