The study of economics is important on a number of levels, the first of which is that most people are consumers. They purchase homes, buy cars, invest money, and live in countries where economic decisions affect their everyday lives. During their lifetimes, most adults will need to understand the economics behind various types of interest rates when purchasing a home or a car; they will need to understand supply and demand when working with energy sources, and they will be required to have some knowledge of the ramifications of market fluctuations as they make investments either independently, through a broker, or as part of a package through their place of employment. Being able to carry on knowledgeable conversations about economic principles affects schools, public services, and utilities.
In the larger picture, when people are literate in personal economics they become more able to understand global and national economics. A common language develops which increases understanding of the ramifications of fluctuations in global markets, commodity prices, and reduces inappropriate reactions to these fluctuations. This helps them make decisions as an electorate when voting on economic issues, and for political candidates.