Work, Income and Human Capital: Beliefs and Knowledge of Urban Elementary Schoolchildren

Abstract

This is a descriptive study of the beliefs and knowledge that eighty 8- to 11-year-old US urban school children from low- to moderate-income households hold about the economic concepts of work, income, and human capital. A structured 15-minute, one-on-one interview was used to gather data. The researcher found that by the 3rd grade, the majority of children in the sample visualise themselves in careers often requiring advanced education and training, and even the most economically disadvantaged children are optimistic about their futures. While their reasoning about the set of economic concepts was not fully developed, it could be characterised as emerging. Although most of the children did not fully understand the relationship between human capital acquisition and economic success, many showed understanding of the work-income relationship. Curricular implications for reinforcement of these concepts at the elementary school levels is discussed.