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"What are you doing about that?"
As the economic crisis shows no signs of abating and budgets everywhere are slashed, we've heard much from universities about the need to fund higher ed properly. In December, a group of college associations even wrote to Congress demanding a piece of the stimulus pie. Where universities have not been so vocal is in explaining what part they can play in helping the nation address the economic problems it faces.
Speaking at the annual meeting of the National Association of Independent Colleges and Universities (one of the signatories of the December letter to Congress), David M. Walker raised this most pertinent question. After detailing all that ails the economy and noting the widespread financial illiteracy among Americans, Walker, the former US Comptroller General who now heads the Peter G. Peterson Foundation, asked the college officials in the room: "What are you doing about that?"
Walker challenged colleges to be part of the solution and called on them to make sure students graduate understanding the basics of finance. Walker's remarks echo the findings and proposals put forth by ACTA research fellows Erin O'Connor and Maurice Black in an article published last week on economic illiteracy, as well as ACTA's study of economic requirements at leading colleges. A survey of 100 universities revealed that only school--the University of Alaska in Fairbanks--requires its students to take an economics class.
Posted by David Azerrad on February 04, 2009 at February 4, 2009 09:22 AM
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