Financial Literacy of the Management Students and Durability of Their Knowledge

Abstract

This paper deals with the issue of financial literacy of university students. The research focuses on students in managerial fields of study for whom financial literacy is an important part of their professional profile. The analysis of financial education at universities is conducted in terms of the efficiency of this process and the durability of the acquired skills. In particular, the aim was to verify the durability of knowledge gained during financial education. The level of financial literacy of students was verified by the method of the questionnaire survey which took place in two cycles. The first round has run immediately after completing the financial course and it was repeated in the second round after a halfyear time interval when the education was interrupted. The authors analyze the impact of the forgetting process by the statistical comparison of the research samples they obtained in these repeated surveys. In addition to professional questions, some self-reflective characteristics of respondents were obtained. These data have enabled analyze the causes of rapid forgetting or, conversely, maintaining or increasing knowledge. Through the self-reflective assessments of the respondents, it became clear that the importance they attach to financial literacy is a decisive factor in maintaining the competences acquired.