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

Author

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

Abstract

Financial literacy has become increasingly important. While previous literature shows that formal schooling enhances financial literacy-likely through analytical learning-little is known about whether and how vocational education, with its focus on practical applications of financial and economic tasks, also contributes to it. We examine whether financial literacy differs across clusters of vocational occupations and what factors might explain such differences. Our results show multiple pathways to acquiring financial literacy: through analytical learning, as in schooling contexts, and through repeated practical applications of financial and economic concepts in everyday occupational tasks, emphasizing the role of vocational education in fostering financial literacy.

Suggested Citation

  • Laura Brunner & Maddalena Davoli & Uschi Backes-Gellner, 2025. "Multiple Pathways to Financial Literacy: Evidence on 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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    File URL: http://repec.business.uzh.ch/RePEc/iso/leadinghouse/0240_lhwpaper.pdf
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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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