I don't think an economics class today or even one taken 10 or 20 years would help much at all in understanding why the world is experiencing an unprecedented global financial collapse. Academia teaches Keynesian economics which naturally benefits the government (and it's government grants that support academia in it's study of Keynesian economics... see how self serving it is?).
Although I write much about bankers being the bad guys, they actually need willing co-conspirators in order to execute their plan. After all, without a partner in government to legalize the actions of bankers, they couldn't possibly get away with as much as they do. Make no mistake, bankers need a willing partner and government is that partner in crime. In order for joint effort to work, there must of course be a way for politicians to benefit. Imagine how difficult it would be for politicians to be elected without promising endless entitlements or if they had to pass higher and higher taxes in order to pay for social contracts and endless wars. Politicians needs a way silently tax us. That's where the bankers come in and this is how inflation comes about. It's a stealth tax caused by the creation of money from nothing.
What our government can't collect in taxes from its citizen base, it must borrow from the Federal Reserve which of course has a blank checkbook. Keep in mind, this is not a checking account but a blank checkbook! The check is written from the Fed and taken over to the Treasury and viola, new money is created. The politicians can now pay for anything it wants and the bankers can sit back to collect the interest on money it created from nothing. It's a corrupt system but each party benefits which is why the fraud continues unabated.
Until we have an honest money system, we can't really expect to have honest politicians. Getting back to economics, Austrian economics is the only area of economic study to correctly predict the booms and busts we've experienced since the creation of the Federal Reserve. I highly recommend following the Ludwig von Mises Institute on Facebook or Twitter. Austrian economics is based on sound money principles. For a quick and funny introduction to Austrian vs Keynesian economics, watch this video. It's hilarious and to the point.