International Comparison of the Economic Knowledge from the Result of the Test of Economic Knowledge 2 in Korea

Abstract

This study reports the findings from a recent sample of high school students in Korea who were given the 40-item TEK-2, and compares secondary school students’knowledge of economics among Korea, United States and Japan. We apply a method of comparing international differences given different levels of knowledge and find that Korea shows relatively higher scores on microeconomics but lower scores on macroeconomics compared to both U.S. and Japan.