LFMI Publishes a Textbook on Economics for Lithuanian Pupils

LFMI’s brand new textbook on economics, Economics in 31 Hours, will be hitting the bookstores and schools across Lithuania this autumn after a pilot project with 30 teachers and over 1,300 pupils. It received a considerable number of positive reviews of the most prominent Lithuanian educologists and has been enlisted among recommended textbooks for secondary schools by the Ministry of Education and Science of Lithuania.

In fact, the success of Economics in 31 Hours has by far exceeded all our expectations. Over 2,000 textbooks have already been ordered by Lithuanian schools and businesses. Such a great demand confirms what one of the reviewers has said about the textbook: “it is especially needed in Lithuania due to the promoted values and contemporary teaching methods provided”.

This great success of LFMI’s project implies the importance of economics when it comes to the promoting and teaching of the fundamental aspects of a free society based on Western values as well as shaping critical thinking among young people. “I am confident that the most ambitious educational project of the last years will be a huge success! Over a thousand pupils and their teachers helped to develop the textbook.” – says Marija Vyšniauskaitė, Head of LFMI’s Education Centre.

Economics, as a separate subject, is compulsory for 9-10th grade school pupils in Lithuania. Therefore, LFMI has conducted a survey of secondary school teachers of economics and pupils to elicit the current problems in economic education. The survey revealed that teachers use a variety of textbooks and sources, but most of them contain a great deal of thematical, logical and stylistic inconsistency. They also present a limited understanding of economics, without giving a proper account of the principles of market economy and market forces. Additionally, the survey suggested that a vast proportion of secondary school teachers of economics lack adequate knowledge and skills, while the quality of education also suffers from a lack of innovative, interactive teaching and learning methods.

Given this, three years ago, LFMI embarked on its most ambitious educational project aimed at increasing the quality of economic education in Lithuanian secondary schools by enhancing teacher’s knowledge and understanding of economics, improving their skills to apply innovative and interactive teaching methods and techniques as well as providing a brand new textbook on economics and an interactive learning and teaching aid for both teachers and students of economics.

In LFMI’s view, it is of major importance that young people understand economics as well as causes of certain economic decisions and their influence on the society, and a modern textbook which meets today’s realities is a perfect tool to provide the necessary skills. Therefore, the textbook is designed to provide foundations for developing the understanding of the principles and functioning of the economy among youth that will help them relate economic principles to their everyday lives, reason accurately about economic matters and become effective market participants as individuals and/or corporate players.