Assessing the economic knowledge and economic opinions of adults |
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| Affiliation: | 1. Department of Economics, University of Nebraska-Lincoln, Lincoln, NE 68558-0402, USA;2. Department of Economics, St. Cloud State University, St. Cloud, MN 56301-4498, USA;1. Department of Chemistry & Nano Science, Ewha Womans University, Seoul, 03760, Republic of Korea;2. Marine Biotechnology Research Center, Korea Institute of Ocean Science and Technology, Ansan 426-744, Republic of Korea;1. Division of Vascular Surgery, Department of Surgery, David Geffen School of Medicine, University of California, Los Angeles, Los Angeles, Calif;3. Department of Health Policy & Management, Fielding School of Public Health, University of California, Los Angeles, Los Angeles, Calif;2. Society for Vascular Surgery Quality and Performance Measures Committee, Chicago, Ill;1. Departamento de Física, Universidade Federal de Pernambuco, 50670-901 Recife, Pernambuco, Brazil;2. Escola Politécnica de Pernambuco, Universidade de Pernambuco, 50720-001 Recife, Pernambuco, Brazil |
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| Abstract: | This study investigates public knowledge of basic economics and public opinion on economic issues. The primary data sources are five national surveys, administered from 1992 to 1999, which contain a rich set of questions to conduct multiple tests and comparisons of the factors that affect economic knowledge and public opinion. As a whole, the results offer significantly stronger evidence of factors that influence knowledge and opinion than is possible from a study of a particular sample of adults using a single set of survey questions.The analysis proceeds in two ways following methods that were originally used with one of the five data sets, a 1992 survey of adults (Walstad, 1997). First, a regression model is specified and estimated with each data set to identify how personal characteristics, general education, course work in economics, income, and political party affect economic knowledge. Second, probit analysis is used to evaluate the effect of economic knowledge on public opinion on selected economic issues after controlling for the above variables. The results from the 1992 data serve as the baseline for comparing the findings across the other surveys. |
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