Finance is more than the stock market. When I took a class on personal finance, I, too, wondered why it wasn't taught in high school. Personal finance gives you a basic grounding in:
- How the economy works and how it affects you
- Income taxes
- Employee sponsored health care plans/FSAs/HSAs
- Life insurance/annuities and health insurance
- Budgeting and cash flow
- How stocks and bonds work
So yes, there is coverage of the stock market, but it is a very narrow slice of the pie when you're talking about an entry level personal finance class.
I started studying economics, personal finance and financial markets a few years ago. I very quickly realised that although economics was the most interesting -- the study of how people interact with other people. It had the least to do with money.
I think a lot of people would change their political views/personal opinions if they understood a bit more about economics.
So yes, there is coverage of the stock market, but it is a very narrow slice of the pie when you're talking about an entry level personal finance class.