Teachers’ Perceptions of Financial Literacy and the Implications for Professional Learning

Sawatzki, Carly; Sullivan, Peter

doi:10.14221/ajte.2017v42n5.4

Cited by 29 publications

(34 citation statements)

References 6 publications

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“…By not showing the effects of a case study method with older students, it can be assumed that the conventional non-activating teaching style is still used by teachers. These findings suggest, similarly to Sawatzki & Sullivan (2017), the need to educate teachers to think about the knowledge, skills and competences needed to be able to make an informed financial decision with the aim to identify and interpret the possibilities of teaching and learning in the area of financial literacy.…”

Section: Rejectedmentioning

confidence: 73%

The Importance of Metacognitive Strategies for Building Competitive Business Competencies

Krpálek¹,

Krelová²,

Berkova³

2018

JOC

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The aim of this study is to verify and evaluate experimentally the effect of using activating methods and the related application of metacognitive learning strategies in case studies. The research sample consisted of 220 students, 16-17 years old. The experiment was chosen as the basic research method. The authors' research focuses first on building a case study. This was subsequently verified experimentally in the second research phase, and its effect on the development of higher cognitive dimensions was evaluated. Relevant research tools were developed, including a case study adapted to each age group of students with a focus on relevant educational content and two non-standardized professional tests in the form of a post-test that was uniformly designed for the experimental and control group to determine the range of effects at the level of development of lower and higher-order thinking processes that the implemented methods can produce. The tests took into account the age of students, content and cognitive difficulty. The non-parametric Mann-Whitney u-test was chosen to verify null hypotheses at 5% significance. The results indicate that the application of metacognitive learning strategies at an adequate age and adequate level of cognitive abilities of students are the assumption of financial literacy and entrepreneurship support. Using activating teaching methods through the implementation of the case study method is more successful and effective in the development of higher-order thinking operations than the established traditional methods, which are still nowadays overused by teachers. This means that methods have a significant impact on the development of higher cognitive dimensions, which are the fundamental assumption of a successful career for economists and corporate managers. The development of these competencies strengthens the competitiveness of this profession in the labour market.

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Section: Rejectedmentioning

confidence: 73%

The Importance of Metacognitive Strategies for Building Competitive Business Competencies

Krpálek¹,

Krelová²,

Berkova³

2018

JOC

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“…A few studies examined teachers’ attitudes towards, and beliefs about, financial education (e.g. De Moor and Verschetze, 2017; Neill et al, 2014; Otter, 2010; Sawatzki and Sullivan, 2017; Way and Holden, 2009). While almost all teachers in these studies acknowledge the importance of financial literacy at school, only a selection consider themselves capable to teach financial topics.…”

Section: Literature Reviewmentioning

confidence: 99%

“…While almost all teachers in these studies acknowledge the importance of financial literacy at school, only a selection consider themselves capable to teach financial topics. Sawatzki and Sullivan (2017) assess the self-perceived competences of Australian primary school teachers and show that while more than 75% consider themselves financially literate, only 50% feel confident to provide financial education. Way and Holden (2009) reveal that on average, 61% of the K-12 teachers in the United States consider themselves capable to teach financial matters.…”

Section: Literature Reviewmentioning

confidence: 99%

“…While Sawatzki and Sullivan (2017) and Way and Holden (2009) rely on measures of self-perceived competence, other researchers test teachers’ financial literacy in an objective manner. Otter (2010) reveals an average knowledge score of 37.5% on a personal finance questionnaire, indicating that teachers lack the subject matter knowledge that is required for providing financial education.…”

Section: Literature Reviewmentioning

confidence: 99%

“…To this end, we spread online surveys among a sample of 300 teachers in Flanders, the Dutch-speaking region of Belgium. While previous research focuses either on measuring teachers’ self-perceived competences to teach financial topics (Sawatzki and Sullivan, 2017; Way and Holden, 2009) or exclusively measures teachers’ financial knowledge (Otter, 2010), we follow De Moor and Verschetze (2017) in taking a more comprehensive approach by additionally assessing teachers’ financial behaviour and attitudes. In addition, we assess which teacher characteristics influence financial literacy, and to what extent teachers perceive themselves competent to provide financial education.…”

Section: Introductionmentioning

confidence: 99%

See 2 more Smart Citations

The capabilities of secondary school teachers to provide financial education

Beckker

Compen

Bock

et al. 2019

Citizenship, Social and Economics Education

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This study examines the capabilities of in-service secondary school teachers to provide financial education. Data were gathered from online surveys, which were spread among 300 teachers in the Flemish region of Belgium. We distinguish between perceived and actual capabilities. Our results reveal that only one third of teachers consider themselves sufficiently competent to provide financial education. Actual capabilities are assessed using a broad measure of financial literacy, which takes into account teachers’ financial knowledge, financial behaviour and financial attitudes. Our results indicate that only approximately half of teachers score sufficiently on financial knowledge and only a third attains the preferred minimum score for financial attitudes. In addition, our heterogeneity analysis shows differences in scores related to teacher characteristics such as gender, teaching discipline and teaching experience. The large share of teachers not reaching the threshold indicating adequate capabilities for providing financial education raises concern, as teacher quality is an important factor contributing to the effectiveness of financial education. Teacher professional development can play a crucial role here.

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Teaching financial education in schools and students' financial literacy: A cross‐country analysis withPISAdata

2020

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In the last decade, developed and emerging economies have become increasingly aware of the importance of ensuring that their citizens are financially literate. Eighteen countries and economies, including 13 OECD countries, participated for the first time in 2012 on the financial literacy assessment of 15‐year‐old students. Financial literacy scores varied according to the participating countries, and they were determined by factors related to the teaching‐learning process, especially those related to the delivery of financial education in schools. This paper assesses the effectiveness of the provision of financial education in the school curriculum across all the countries that participated in PISA 2012—data from 2015 did not allow such analysis. We measured the direct effect of different ways of financial education delivery on students' financial literacy scores, after controlling for math and reading performance, and individual characteristics of students and their schools. The majority of the countries have introduced financial education topics in the curriculum somehow. But only in the Flemish Community of Belgium, the United States, and Latvia—and to a lesser extent in Australia, Estonia, France, Israel, Poland, Spain, the Czech Republic, the Russian Federation, and the Slovak Republic—the way how financial education (FE) is delivered is positively correlated with students' financial literacy scores: FE taught as part of business or economics courses in Belgium, FE taught as part of a cross‐curricular subject in the U.S., and FE taught as part of mathematics in Latvia. Our main findings pose fundamental challenges for educational policy regarding school‐based FE. The first is to decide at what age (grade) interventions should be introduced into the education system so that students are not only financially literate but also financially competent. The second is to devise instructional approaches that more effectively lead young people to put pertinent financial knowledge into practice and to do so correctly when they make financial decisions.

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Teachers’ Perceptions of Financial Literacy and the Implications for Professional Learning

Cited by 29 publications

References 6 publications

The Importance of Metacognitive Strategies for Building Competitive Business Competencies

The Importance of Metacognitive Strategies for Building Competitive Business Competencies

The capabilities of secondary school teachers to provide financial education

Teaching financial education in schools and students' financial literacy: A cross‐country analysis withPISAdata

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