Measuring Economic Competence of Secondary School Students in Germany

Abstract

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The impact of mandatory economic education on adolescents’ attitudes

“…With regard to socio-economic background, we see a slightly decreased approval on competition, social responsibility and interest when students reported to have 25 or less books at home. In line with previous studies documenting lower financial and economic capabilities among respondents with low socioeconomic status (e.g., Kaiser et al 2020), our data reveal lower test results by 0.28 SD units.…”

“…In contrast to gender, attitudes do not significantly vary by mother tongue. There is, however, a consistent and significant gap in economic competence that has been well documented in previous studies (e.g., Oberrauch and Kaiser 2020). With regard to socio-economic background, we see a slightly decreased approval on competition, social responsibility and interest when students reported to have 25 or less books at home.…”

“…Being a model for economic competences it covers financial competencies as a subset (Retzmann and Seeber 2016). The authors define 'economic competence as the ability to act and decide adequately in economically shaped life situations' (Kaiser, Oberrauch, and Seeber 2020). The model offers an approach to define all relevant competences to master these situations.…”

“…These examples shall just give an idea of the test content. An English translation and indepth validation of the complete test has already been published (Kaiser, Oberrauch and Seeber 2020).…”

“…The performance test used, was developed for secondary school students and its 30 items showed valid psychometric characteristics (see detailed information about test characteristics in Kaiser, Oberrauch and Seeber 2020). As our test items naturally appear to be binary (i.e.…”