Assessing the previous economic knowledge of beginning students in Germany: Implications for teaching economics in basic courses

Study-related prior knowledge plays a decisive role in business and economics degree courses. Prior knowledge has a significant influence on knowledge acquisition in higher education, and teachers need information on it to plan their introductory courses accordingly. Very few studies have been conducted of first-year students’ prior economic knowledge or differences among students in such knowledge. In this article, the prior economic knowledge and the influence of personal factors on first-year students’ prior economic knowledge are examined. For this purpose, an adaptation of the fourth, revised edition of the American Test of Economic Literacy was administered, which was adapted in 2014…