The role of teacher professional development in financial literacy education: A systematic literature review

Abstract

This paper examines the elements essential to effective teacher professional development (TPD) in financial literacy education by means of a systematic literature review. We provide a theoretical underpinning for the literature review by proposing a revised presentation of an existing general TPD model. Our results provide insight into the student learning goals in financial literacy education, the desirable teaching behaviour, the required teacher quality and the contextual factors that play a role. However, our findings also suggest a lack of studies that systematically investigate whether and how TPD initiatives enhance the effect of financial education on students' financial literacy. Furthermore, existing literature fails to provide insight in how the six key features of TPD should be implemented to optimize its effectiveness.

SaveWise: The design of a financial education program in the Netherlands

“…Involving parents in the financial literacy education of their children also seems to be effective (Amagir et al, 2018a; Bruhn et al, 2016; Butt et al, 2008; Harter and Harter, 2009; Smith et al, 2011), particularly in the formation of attitudes (Lusardi et al, 2010; Money Wise, 2014). Finally, it is important to train teachers in working with a financial education program (Bruhn et al, 2016; Compen et al, 2018; De Beckker et al, 2019).…”

The capabilities of secondary school teachers to provide financial education

“…Asarta et al, 2014; Batty et al, 2015), these studies rarely assess its impact separately. As a result, it remains unclear how TPD initiatives should be shaped to optimise its potentially beneficial effects (Compen et al, 2019). Considering that financial education is often integrated in school curricula nationwide (OECD, 2016a), future research is particularly recommended to evaluate TPD forms that allow for large-scale implementation, such as online TPD (Dede et al, 2009).…”

The Capabilities of Secondary School Teachers to Provide Financial Education

“…Asarta et al, 2014;Batty et al, 2015), these studies rarely assess its impact separately. As a result, it remains unclear how TPD initiatives should be shaped to optimize its potentially beneficial effects (Compen et al, 2019). Considering that financial education is often integrated in school curricula nationwide (OECD, 2016a), future research is particularly recommended to evaluate TPD forms that allow for large-scale implementation, such as online teacher professional development (Dede et al, 2009).…”