How to become an FE economics teacher

As a further education (FE) economics teacher, you will play an integral role in helping students become economically literate. They teach students how to understand the difference between microeconomics and macroeconomics, fiscal rules, taxation and other forms of government intervention. Economics teachers at FE level are essential conduits through which learners are prepared for progress to undergraduate level study.

As the Confederation of British Industry (CBI) explains, businesses and the wider economy benefit from financial literacy due to employees with “strong numeric skills, [being] better prepared for the world of work and likely more productive”. The CBI’s research found that financial literacy skills are highly transferable and can boost entrepreneurship as well.

FE is a key platform from which to build a strong sense of economic literacy with research by GoHenry finding that by prioritising financial education, an extra £6.98bn could be added to the UK economy each year. FE economics is a common spring board for students wishing to study the subject at university level; it’s FE economics teachers that facilitate this transition.

Economics remains a growing subject

The Royal Economic Society (RES) unveiled its medium-term strategy to run until 2023 in 2018 with the institution’s key aim is to promote the study of economic science, especially in young adults. An integral take-home from the strategy is to engage young people through a greater connection with social media. The RES provides valuable resources for FE economics teachers.

What are the entry requirements for teaching FE economics?

Most candidates that apply for an FE economics teacher role will be required to have completed a teaching qualification, such as a postgraduate certificate in education (PGCE). Some will be able to substitute the qualification for relevant work experience. In fact, experience in the economics sphere is always seen as a positive from an employer’s point of view.

A focus on numeracy

National Numeracy — a charity dedicated to helping people feel confident with numbers and using everyday maths — has a mission that seeks to “improve how people understand and work with numbers in day to day life – sparking better opportunities and brighter futures”.

Earlier research by the charity in 2019 found that some 56% of working-age adults had the numeracy level expected of a primary school pupil. Work to be done then!

Numeracy and social mobility

The levels of adult numeracy within the UK are low when compared with other similar countries. This has a detrimental impact on the national economy and low numeracy skills can have a major influence on an individual’s working life and work opportunities.

Almost half of UK adults do not feel ‘fully confident’ with everyday budgeting and money management, according to Number Confidence and Social Mobility, a National Numeracy research report in 2023. As an FE economics teacher, you will be well placed to arrest the negative numeracy self-image that affects large swathes of the population, while offering the building blocks of a career in economics to young learners.

The report states: “Compared to more highly skilled people, low-skilled people with low confidence in their ability to learn are less likely to take up training offers, but if they do, they progress as fast as more self-confident learners.”

What salary can FE economics teacher earn?

Salaries for the role of FE economics teacher vary widely from £37,923 at the low end of the scale to £58,500 per year for the most experienced employees. The median salary comes in at £42,226 per year in the UK, according to Talent.com, which is significantly higher than the median annual pay for full-time employees (£33,000) for the tax year ending on April 5, 2022.