The 2012 NAEP economics assessment measured twelfth-graders understanding of how economies and markets work, the benefits and costs of economics interaction and interdependence, and the choices people make regarding limited resources. The 2012 assessment was the second economics assessment administered by NAEP. The first was administered in 2006. Economic literacy is defined by the NAEP NAEP economics framework (3,349 KB), developed by the National Assessment Governing Board, as the ability to identify, analyze, and evaluate the consequences of individual decisions and public policy. Economic literacy includes an understanding of
The economics assessment measures and reports results for three main content areas.
Within each of the content areas, questions are designed to assess economics in three cognitive categories.
Recognizing that students acquire economics knowledge and skills inside and outside of school, the framework recommends that questions be set in various contexts.
The amount of assessment time to be devoted to each of the three components is specified in the framework.
Explore Sample Questions booklets for the 2012 economics assessment.