Author:

Keywords:

Consumer education, Curriculum design, Educational finance, Financial literacy, Mathematics of finance, 0102 Applied Mathematics, 39 Education, 49 Mathematical sciences

Abstract:

The best policy option to implement financial education at school is still open for debate. We add to this discussion by examining the possible contribution of financial mathematics in the curriculum of secondary schools. Results of an exploratory study based on a pre-posttest design show that financial mathematics positively affects students’ general financial literacy levels in the short run by raising their understanding of (math-related) financial literacy concepts and the application of financial math methods to the financial world. The effect is stronger for female students suggesting that financial mathematics can help reducing the gender-related financial literacy gap. Spillover effects to other financial literacy topics not covered in financial math curriculum are not present. Overall, financial mathematics appears to be a valuable course in an integrated cross-curricular approach to financial education