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Does financial education at school work? Evidence from Italy

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  • Angela Romagnoli

    ()
    (Bank of Italy)

  • Maurizio Trifilidis

    ()
    (Bank of Italy)

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    Abstract

    In the 2008-09 school year the Bank of Italy and the Italian Ministry of Education started an experimental program to incorporate financial education into school curricula. This paper describes the experience since then. According to the program, teachers receive training from the Bank on financial topics and then move on to classroom teaching. The effect of classroom teaching on pupils’ financial knowledge is measured by tests. The empirical evidence shows that the program proved successful in increasing the financial knowledge of pupils, for longer than one year.

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    File URL: http://www.bancaditalia.it/pubblicazioni/econo/quest_ecofin_2/qef155/QEF_155.pdf
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    Bibliographic Info

    Paper provided by Bank of Italy, Economic Research and International Relations Area in its series Questioni di Economia e Finanza (Occasional Papers) with number 155.

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    Date of creation: Apr 2013
    Date of revision:
    Handle: RePEc:bdi:opques:qef_155_13

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    Postal: Via Nazionale, 91 - 00184 Roma
    Web page: http://www.bancaditalia.it
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    Related research

    Keywords: financial literacy; youth financial education; money; pre-/post-test design;

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    1. Oecd, 2005. "Improving Financial Literacy: Analysis of Issues and Policies," Financial Market Trends, OECD Publishing, vol. 2005(2), pages 111-123.
    2. Jere R. Behrman & Olivia S. Mitchell & Cindy Soo & David Bravo, 2010. "Financial Literacy, Schooling, and Wealth Accumulation," NBER Working Papers 16452, National Bureau of Economic Research, Inc.
    3. Leonardo Becchetti & Stefano Caiazza & Decio Coviello, 2011. "Financial education and investment attitudes in high schools: evidence from a randomized experiment," CEIS Research Paper 210, Tor Vergata University, CEIS, revised 07 Sep 2011.
    4. Richard H. Thaler, 2000. "From Homo Economicus to Homo Sapiens," Journal of Economic Perspectives, American Economic Association, vol. 14(1), pages 133-141, Winter.
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    Cited by:
    1. Miller, Margaret & Reichelstein, Julia & Salas, Christian & Zia, Bilal, 2014. "Can you help someone become financially capable ? a meta-analysis of the literature," Policy Research Working Paper Series 6745, The World Bank.

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