Many individuals and supporters of Youth Entrepreneurs are aware of our desire to develop entrepreneurs in our communities. Through our year-long program, students spend many hours learning the numerous principles involved with one day starting and running their own business. What many are unaware of, and what comes as a shock to our students at the beginning, is the importance of knowledge in basic economic concepts. From scarcity, supply and demand, and opportunity cost - to name a few of them - economic knowledge is crucial in developing a business plan. We are aware all of our students will not start businesses, but feel developing an economic way of thinking will be critical to any future success. Each school year, our classroom teachers typically begin the year diving into some basic economics. What has excited us at YE is that more students want more knowledge in economics! We have started new alumni programs over the course of the past two years, such as Scholars and Leaders and The Urban Economics Academy. These programs allow students to explore different mental models that deal with economics through readings and discussions. It is becoming more and more apparent; students want more opportunities!
So that brings us to this week! The Foundation for Economics Education (FEE) has partnered with Youth Entrepreneurs for more opportunities! Eight Youth Entrepreneurs alum from Wichita, Topeka, and Kansas City have traveled to The University of Utah in Salt Lake City, Utah to take part in FEE’s Freedom Academy. These academies are designed specifically for high school students to introduce them to basic concepts in economics, the role of liberty in the founding of America, and multiple special concepts in modern economics (recession, bailouts, etc). The students will have the opportunity to make connections with hundreds of students across the country; students who desire to formulate their own opinions regarding what is taking place in our nation and sift through all the political rhetoric taking place during an election year. This is a tremendous opportunity afforded to them and we look forward to hearing their reflections at the conclusion of this experience!
