Overview of “Should personal finance be part of the liberal arts?”
NPR’s The Indicator visits an Alabama high school offering AP Business with Personal Finance to explore whether business education belongs alongside traditional liberal arts subjects. The episode argues that business and personal finance help students navigate everyday economic choices, adapt to change, and turn their interests into careers.
What the AP business class teaches
The course covers business topics such as management and the PESTEL framework, which examines political, economic, social, technological, environmental, and legal forces affecting organizations. It also teaches personal finance, including saving and investing. One student, for example, puts most of his referee earnings into a Roth IRA.
The class is part of a wider rise in high school financial education: the episode reports that 39 states require some form of personal finance course to graduate. It also cites a New York Fed study finding that people from states with such requirements were more likely to pay down credit card debt and make certain housing-related financial decisions.
Why business might belong in the liberal arts
College Board CEO David Coleman argues that business fits the liberal arts’ traditional aim of developing adaptable, well-rounded people. Business requires continual learning as technology and industries change, and practical business skills can help students make a career from interests such as history or poetry.
The course is designed to serve students planning to enter the workforce as well as those heading to college. Students may earn college credit and a credential they can show employers.
What students value
Teacher Jerry Kimball says every student should take a business course because everyone is a consumer. Students describe the class as a way to understand how the world works, connect with family conversations about business, and explore future opportunities. The chance to earn college credit is another draw, especially given the cost of higher education.