Location
Zoom
Start Date
16-12-2020 9:55 AM
Description
Researchers and policy makers have identified low levels of financial literacy as a cause of many sub-optimal economic outcomes. Research into financial literacy is still emerging, but plenty of evidence suggests that increasing an individual’s financial literacy promotes welfare and can prevent economic burdens. This paper aims to deepen the understanding of how financial education can be used to improve financial literacy; specifically, how financial education can be implemented in schools in a non-invasive, low-cost way to improve youth financial literacy. It focuses on a particular form of financial education called My Classroom Economy (MCE) that can be implemented in grades K-12 at relatively low costs. I will test students’ levels of financial literacy before and after using MCE for one school year, measured through financial literacy quizzes. The hope of this research is to determine if MCE produces significant improvements in financial literacy, and if so, when and for how long it should be implemented in schools to produce improvements that are worth the costs.
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Improving Financial Literacy through Financial Education in Schools
Zoom
Researchers and policy makers have identified low levels of financial literacy as a cause of many sub-optimal economic outcomes. Research into financial literacy is still emerging, but plenty of evidence suggests that increasing an individual’s financial literacy promotes welfare and can prevent economic burdens. This paper aims to deepen the understanding of how financial education can be used to improve financial literacy; specifically, how financial education can be implemented in schools in a non-invasive, low-cost way to improve youth financial literacy. It focuses on a particular form of financial education called My Classroom Economy (MCE) that can be implemented in grades K-12 at relatively low costs. I will test students’ levels of financial literacy before and after using MCE for one school year, measured through financial literacy quizzes. The hope of this research is to determine if MCE produces significant improvements in financial literacy, and if so, when and for how long it should be implemented in schools to produce improvements that are worth the costs.
Comments
Mentor: Michelle Miller