This report of the study of year 12 economics students in the Capricornia region of Queensland is comprised of descriptive statistics and results of the economic literacy survey conducted in September 1997. For the purpose of this study, economic literacy was defined as the knowledge required to understand news about economic issues in the media. In addition, teachers completed background surveys which examined their teaching experience, qualifications, and teaching methods, as well as school size, school resources and enrolment figures in 'economics'.