College campuses are home to potentially the most diverse body of students in terms of economic understanding. For example, here at UD, a portion of the student body is highly educated on the aspects and terms of the United States and worldwide governments, potentially due to their majors or solely their educational background. But some students, however, have absolutely no knowledge of the economy in any form and would probably tell you all they knew was that it deals with money and jobs. This extreme distribution of knowledge is unique to a place such as a college campus, so I was able to take advantage of this feature while conducting interviews on campus. 

I conducted interviews with five students on campus regarding their understanding and opinions on the economy (nationally and worldwide). I began by asking what “economy” means to the interviewee, or, in other words, what they immediately think of when I say the word. The answers to this question were somewhat similar, but also unique depending on the person. For example, one individual said they thought of the stock market and the different job positions people hold, while another student, taking a more formal approach, ever so eloquently said, “the sum total of financial activities of a given region”. As expected, this question highlighted the various definitions people assign to the same, diverse word. 

My next question was more focused, asking how the financial expectations differ between social classes, or in other words, how people in different classes prioritize their economic decisions. The responses to this question were almost identical among all interviewees with a common theme that those of lower classes have a lower level of economic stability and freedom. I recorded one individual as saying, “essentially, if you don’t have money you are screwed”, while another similarly pointed out that people of lower classes focus on surviving and those of higher classes are more versed in financial literacy. One individual also stated that in general, “the financial literacy in America is exceptionally low”. The idea of a financial barrier was introduced and rightfully defended by the idea that higher class individuals are raised in a household with inherently more financial responsibility, which carries over and is continued through generations, therefore leaving behind those who were not already economically stable and educated. 

In all I was not too surprised by the outcome of the interviews, but I was validated in a variance of answers depending on prior knowledge and background. A high degree of opinions and levels of education regarding economics (and many other topics) are represented on college campuses, such as the University of Delaware, but it is society’s job to hear these ideas and to continue to educate individuals, and to conform to the country’s best interest.