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Multiple Pathways to Financial Literacy: Evidence on the Impact of Practical Applications of Financial Tasks and Analytical Learning

Author

Listed:
  • Laura Brunner
  • Maddalena Davoli
  • Uschi Backes-Gellner

Abstract

Financial literacy has become increasingly important for financial well-being. While studies show that formal schooling and its analytical learning methods enhances financial literacy, little is known about whether and, if so, how the practical applications in vocational education, contribute to it. We examine whether financial literacy differs across vocational occupation clusters with different requirements, practical applications or learning pathways, and what factors might explain such differences. Our results show two effective pathways to acquiring financial literacy: (1) analytical learning of financial concepts and (2) repeated practical applications of financial and economic concepts in everyday occupational tasks. Both demonstrate the important role that vocational education can play in fostering financial literacy.

Suggested Citation

  • Laura Brunner & Maddalena Davoli & Uschi Backes-Gellner, 2025. "Multiple Pathways to Financial Literacy: Evidence on the Impact of Practical Applications of Financial Tasks and Analytical Learning," Economics of Education Working Paper Series 0240, University of Zurich, Department of Business Administration (IBW).
    • Handle: RePEc:iso:educat:0240
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    More about this item

    Keywords

    Financial Literacy; Vocational Education and Training; Human Capital Formation; Skill Acquisition; Occupational Heterogeneity;
    All these keywords.

    JEL classification:

    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

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