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National Standards for Financial Literacy: Rationale and Content

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  • William Bosshardt
  • William B. Walstad

Abstract

The National Standards for Financial Literacy describe the knowledge, understanding, and skills that are important for students to learn about personal finance. They are designed to guide teachers, school administrators, and other educators in developing curriculum and educational materials for teaching financial literacy. In this article, the authors explain the reasons for the development of the Standards by the Council for Economic Education and the work of economists, economic educators, and teachers to prepare them. They describe each of the six content standards and how they are supported by associated benchmarks at the fourth, eighth, and twelfth grades. The authors also discuss several valuable Standards ' features, including a focus on economic content and decision-making skills as the foundation for financial literacy.

Suggested Citation

  • William Bosshardt & William B. Walstad, 2014. "National Standards for Financial Literacy: Rationale and Content," The Journal of Economic Education, Taylor & Francis Journals, vol. 45(1), pages 63-70, March.
    • Handle: RePEc:taf:jeduce:v:45:y:2014:i:1:p:63-70
    DOI: 10.1080/00220485.2014.859963
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    Cited by:

    1. Carlos J. Asarta & Frank G. Mixon Jr., 2019. "Publishing and Scholarship in Economic Education: A Catalog and Assessment," The American Economist, Sage Publications, vol. 64(2), pages 269-281, October.
    2. Charmaine Barbara & Dominic Cortis & Roberta Perotti & Claudia Sammut & Antoine Vella, 2017. "The European Insurance Industry: A PEST Analysis," IJFS, MDPI, vol. 5(2), pages 1-20, May.
    3. Li Liao & Jing Jian Xiao & Weiqiang Zhang & Congyi Zhou, 2017. "Financial literacy and risky asset holdings: evidence from China," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 57(5), pages 1383-1415, December.
    4. Sebastian Heidel & Roland Happ, 2023. "Challenges in Understanding Western Economic and Financial Concepts from the Perspective of Young Adults with a Post-Soviet Migration Background in Germany—Findings from a Qualitative Interview Study," JRFM, MDPI, vol. 16(3), pages 1-21, March.

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