Latest update September 28th, 2026 10:20 AM
Make economics mandatory in high school and college
Dear Editor,
I commend political scientist Dr. Randy Persaud and economists Mr. Terrence Yhip, Dr. Thomas Singh, Dr. Randy Persaud, Dr. Ramesh Gampat, Dr. Samuel Braithwaite and Dr. Tarron Khemraj, in recent letters relating to the 2026 budget, for introducing readers to several economic terms or concepts that they previously never heard. All of these outstanding writers wrote in a politically non-partisan manner, simply stating facts and or giving viewpoints based on evidence; they have no political axe to grind although a few of have political affiliation.
While commenting on poverty, they cited or used terms like Human Development Report (HDR) that leads to a human development index (HDI), Gini Coefficient, Multi-dimensional Poverty Index (MPI), recurrent expenditure, capital expenditure, current expenditure, internal and external shock, fiscal policy, micro-economics and macroeconomics, inflation, structural transformation, GDP, GNP, PCI – per capita income, PPP – purchasing power parity, circular flow of the economy or of money or of the economy, Gross National Income, sustainable development, among others. Almost every Guyanese probably never heard of and or comprehend these technical concepts. As I gathered from interaction, even college educated and business people never heard of the terms that are widely used in economics and sociology. Bank workers and staff in businesses I engaged displayed ignorance of these concepts. Some politicians don’t understand basics in economics.
Those who studied and or ‘read’ economics would understand the above concepts but not the ordinary layman or someone who was not schooled in economics and or the social sciences. Even several members of parliament have not demonstrated aptitude in understanding the concepts; some may not even be familiar with those concepts. Having a college education does not lead to knowledge or an understanding of these concepts unless one takes courses in economics. For example, while studying Bio-Chemistry at City University in late 1970s, I was not introduced to these economic terms. I only learned them during graduate school pursuing post-graduate degree in International Relations and later doctoral studies in Economics during the late mid-1980s.
In the USA, economics (study of the economy) is mandatory for high school students but not in Guyana or the Caribbean. I taught the subject for over two decades. It does not necessarily mean that American high school students grasped the above-mentioned concepts, but at a minimum they do get an introductory knowledge to the subject of economics and some its basic technical terms unlike students in Guyana. As in New York, economics should be mandated in high school in Guyana. In this way, the public will be better informed of the country’s economy and how it works and is measured and be in a position to understand the progress it is making. Also, University of Guyana should consider making economics a required course for graduation regardless of major for a more informed population on the workings of the economy.
Yours truly,
Dr. Vishnu Bisram
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“Make economics mandatory in High School and College” ? That’s for
learning to obtain a degree, whilst actually living a daily nightmare.
How does that equate to actual living standards of poor Guyanese today,
or in the future ?
$2000.00 will only buy so much today. Next year, or a few months down
it will purchase less.