Teaching financial literacy through the use of market research and advertising instruction

Abstract

Purpose The purpose of this paper is to describe how librarians used elements of market research, advertising and media literacy in a personal finance class. Design/methodology/approach Librarians each semester guest lecture one session in a personal finance class “Foundations of Money Education.” Through this class, librarians present engaging material about market research and advertising in an effort to encourage students to think about how these external forces influence their spending behavior. Findings Students appreciate learning about advertising through the engaging use of commercials. While responses were mixed as to the applicability of the topic, the majority of students agreed that the topic was a worthwhile addition to the personal finance curriculum. Originality/value Topics such as budgets, savings, and mortgages are typically taught in personal finance classes. Teaching information about market research and advertising is a topic that is usually not covered in a personal finance class.

Libraries and financial literacy

“…Joining the work of the Money Education Center operated by the Texas A&M University, a business librarian intends to make the audience realize to what extent advertisements affect us, and how much money companies spend on this area of their communication. And as a result, we can better understand our own spending behavior (Vaaler and Wilhelm, 2020).…”

Könyvtárak és a pénzügyi kultúra 1. rész Keretrendszer

“…Ezáltal jobban megismerjék a vásárlással kapcsolatos döntéseik okait, tudatosabban kezeljék az őket érő marketingáradatot, illetve alaposan megfontolják, szükséges-e valójában számukra egy adott termék vagy szolgáltatás, és mekkora a reklámok hatása a döntéseikben. 61 Az eddig ismertetett kísérletek többnyire előremutatóan zárultak. A rendezvényszervezés azonban nem mindig ilyen egyértelműen sikeres terület, mint a következő példák mutatják.…”