I'm seeing a lot of answers talking about personal finance, debt etc. Which of course helps them as individuals.

But as Australians, we really lack understanding of economics, and the role of Government and other Regulators.

IE. Monetary Policy & Fiscal Policy.

It means we lack a good understanding of the effect of Government spending on us as Citizens, and therefore a lot of Australians are not equipped to know what Government policies they support or not, and the effect it has on them (beyond X more spending and Y less tax).

Everyone talks about business and personal finance, which is of course super important, but because its less directly applicable, the broader environment is left by the wayside. Especially when every kid is now doing Business Studies instead of Econ.