In recent years, the topic of education’s role in preparing individuals for economic challenges, particularly inflation, has gained significant attention in IELTS Writing Task 2. This subject combines elements of economics, education, and personal finance, making it a complex and intriguing area for examination. Based on trends observed in past IELTS exams and predictions for future tests, we can expect to see questions related to this theme appearing with increasing frequency.
Let’s explore a relevant question that reflects this important topic:
Some people believe that schools should teach students how to manage their personal finances, including strategies for dealing with inflation. Others argue that this is not the responsibility of the education system. Discuss both views and give your own opinion.
Analysis of the Question
This question presents a balanced argument about the role of schools in teaching personal finance management, with a specific focus on inflation. It requires candidates to:
- Discuss the view that schools should teach personal finance management, including inflation strategies.
- Explore the opposing view that this is not the education system’s responsibility.
- Provide and justify their own opinion on the matter.
Key points to consider:
- The scope of personal finance education in schools
- The potential benefits and drawbacks of including such education
- The role of schools versus other institutions or family in financial education
- The relevance of inflation-specific strategies in a school curriculum
Sample Essay for Band 8-9
Here’s a high-quality sample essay that would likely score in the Band 8-9 range:
In an era of economic uncertainty, the question of whether schools should equip students with personal finance skills, particularly in dealing with inflation, has become increasingly pertinent. While some argue that this responsibility lies beyond the purview of educational institutions, others contend that such knowledge is crucial for students’ future well-being. In my opinion, schools should indeed incorporate personal finance education, including inflation management strategies, into their curricula.
Proponents of including personal finance in school curricula argue that it is essential for preparing students for real-world challenges. Financial literacy is a critical life skill that affects every individual’s quality of life, yet it is often overlooked in traditional education. By teaching students how to budget, save, invest, and understand economic concepts like inflation, schools can empower them to make informed financial decisions throughout their lives. This knowledge becomes particularly valuable during periods of economic instability, where understanding inflation can help individuals protect their assets and maintain their purchasing power.
On the other hand, those who oppose this view argue that schools should focus on core academic subjects and leave personal finance education to parents or specialized institutions. They contend that the school curriculum is already overburdened and that adding financial education would detract from other important subjects. Furthermore, they might argue that economic conditions and financial products change rapidly, potentially making school-taught strategies obsolete quickly.
While both arguments have merit, I believe the benefits of including personal finance education in schools far outweigh the drawbacks. Firstly, not all parents have the knowledge or resources to provide comprehensive financial education, leading to inequality in financial literacy among students. Schools can bridge this gap by ensuring all students have access to essential financial knowledge. Secondly, understanding concepts like inflation is increasingly crucial in our globalized economy, and early exposure to these ideas can help students develop a more nuanced understanding of economic forces that will affect their lives.
Moreover, schools are uniquely positioned to provide this education in a structured, age-appropriate manner. They can integrate financial concepts into existing subjects like mathematics or social studies, making the learning process more holistic. By doing so, schools would not only be imparting knowledge but also fostering critical thinking skills that are valuable across all aspects of life.
In conclusion, while it is true that adding personal finance education to school curricula presents challenges, the long-term benefits to students and society at large are substantial. By equipping young people with the tools to navigate complex financial landscapes, including inflationary periods, schools can play a crucial role in fostering a more financially resilient and economically savvy population.
(Word count: 412)
Sample Essay for Band 6-7
Here’s a sample essay that would likely score in the Band 6-7 range:
Nowadays, some people think schools should teach students about managing money and dealing with inflation, while others believe this is not the job of schools. This essay will discuss both views and give my opinion.
Those who support teaching personal finance in schools say it’s important for students’ future. They think learning about money management and inflation can help students make better decisions when they grow up. For example, if students know how to save money and understand how prices go up, they can plan better for their future. This knowledge could be very useful in times when the economy is not doing well.
On the other hand, some people think schools should not teach these things. They believe schools should focus on subjects like math, science, and languages. They say that parents should teach their children about money at home. Also, they think that financial information changes quickly, so what students learn in school might not be useful later.
In my opinion, I agree that schools should teach personal finance, including how to deal with inflation. I think this because not all parents know enough about money to teach their children well. If schools teach these things, all students will have the same chance to learn about finance. Also, understanding money is important for everyone, no matter what job they do in the future.
However, I also think that schools need to be careful about how they teach this subject. They should make sure the information is up-to-date and relevant to students’ lives. Maybe they could invite experts to give special lessons or include money topics in math classes.
In conclusion, while there are arguments for and against teaching personal finance in schools, I believe it is a valuable addition to education. It can help prepare students for real-life challenges and make them more confident about handling money in the future.
(Word count: 309)
Financial education in classroom
Key Points to Note When Writing
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Structure: Both essays follow a clear structure with an introduction, body paragraphs discussing both views, the writer’s opinion, and a conclusion. The Band 8-9 essay demonstrates more sophisticated paragraph development and cohesion.
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Language: The Band 8-9 essay uses more advanced vocabulary and complex sentence structures, while the Band 6-7 essay uses simpler language. For example:
- Band 8-9: “Proponents of including personal finance in school curricula argue…”
- Band 6-7: “Those who support teaching personal finance in schools say…”
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Argument Development: The Band 8-9 essay provides more detailed explanations and examples, showing a deeper understanding of the topic. The Band 6-7 essay makes valid points but with less elaboration.
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Cohesion and Coherence: The Band 8-9 essay uses a variety of cohesive devices effectively, while the Band 6-7 essay relies on simpler linking words.
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Task Response: Both essays address all parts of the question, but the Band 8-9 essay does so more thoroughly and with more insightful analysis.
Important Vocabulary to Remember
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Financial literacy (noun) /faɪˈnænʃəl ˈlɪtərəsi/: The ability to understand and effectively use various financial skills.
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Curriculum (noun) /kəˈrɪkjələm/: The subjects comprising a course of study in a school or college.
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Empower (verb) /ɪmˈpaʊər/: To give someone the authority or power to do something.
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Purchasing power (noun) /ˈpɜːrtʃəsɪŋ ˈpaʊər/: The value of a currency expressed in terms of the amount of goods or services that one unit of money can buy.
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Globalized economy (noun phrase) /ˈɡləʊbəlaɪzd ɪˈkɒnəmi/: An interconnected economic system spanning multiple countries.
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Economic instability (noun phrase) /ˌiːkəˈnɒmɪk ˌɪnstəˈbɪləti/: A situation where an economy experiences frequent fluctuations in its performance.
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Financial resilience (noun phrase) /faɪˈnænʃəl rɪˈzɪliəns/: The ability to withstand and recover from financial difficulties.
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Age-appropriate (adjective) /eɪdʒ əˈprəʊpriət/: Suitable for people of a particular age group.
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Holistic (adjective) /həʊˈlɪstɪk/: Characterized by the belief that the parts of something are interconnected and can be explained only by reference to the whole.
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Economic savvy (noun phrase) /ˌiːkəˈnɒmɪk ˈsævi/: Practical knowledge and understanding of economic matters.
Conclusion
The Role Of Education In Preparing For Inflationary Periods is a complex and relevant topic for IELTS Writing Task 2. By understanding the key elements of a strong essay on this subject, you can improve your ability to tackle similar questions effectively. Remember to practice writing essays on related topics, such as:
- The importance of financial education for young adults
- The role of schools in teaching practical life skills
- The impact of economic education on personal and national prosperity
We encourage you to practice writing your own essay on this topic and share it in the comments section below. This active practice is an excellent way to improve your writing skills and prepare for the IELTS exam.
For more insights on related topics, you might find our article on how to protect the middle class during inflation helpful in expanding your understanding of economic challenges and potential solutions.
