WorldWideScience

Sample records for higher financial literacy

  1. Higher Education and Financial Literacy--A New Paradigm

    Science.gov (United States)

    Hayes, Dianne

    2012-01-01

    The harsh reality of debt among college-aged students is a growing problem. According to the Center for Economic and Entrepreneurial Literacy, 54 percent of college student respondents had overdrawn their bank account and 81 percent underestimated the time it would take to pay off a credit card balance by a large margin. In a climate where even…

  2. The Geography of Financial Literacy

    Directory of Open Access Journals (Sweden)

    Christopher Bumcrot

    2013-07-01

    Full Text Available This paper explores how well equipped today’s households are to make complex financial decisions in the face of often high-cost and high-risk financial instruments. Specifically we focus on financial literacy. Most importantly, we describe the geography of financial literacy, i.e., how financial literacy is distributed across the fifty US states. We describe the correlation of financial literacy and some important aggregate variables, such as state-level poverty rates. Finally, we examine the extent to which differences in financial literacy can be explained by states’ demographic and economic characteristics. To assess financial literacy, five questions were added to the 2009 National Financial Capability Study, covering fundamental concepts of economics and finance encountered in everyday life: simple calculations about interest rates and inflation, the workings of risk diversification, the relationship between bond prices and interest rates, and the relationship between interest payments and maturity in mortgages. We constructed an index of financial literacy based on the number of correct answers provided by each respondent to the five financial literacy questions. The financial literacy index reveals wide variation in financial literacy across states. Much of the variation is attributable to differences in the demographic makeup of the states; however, a handful of states have either higher or lower levels of financial literacy than is explained by demographics alone. Also, there is a significant correlation between the financial literacy of a state and that state’s poverty level. The findings indicate directions for policy makers and practitioners interested in targeting areas where financial literacy is low.

  3. Financial Literacy and Financial Behaviour

    NARCIS (Netherlands)

    Sayinzoga, Aussi; Bulte, Erwin H.; Lensink, Robert

    2016-01-01

    We organise a field experiment with smallholder farmers in Rwanda to measure the impact of financial literacy training on financial knowledge and behaviour. The training increased financial literacy of participants, changed their savings and borrowing behaviour and had a positive effect on the

  4. Financial Literacy, Confidence and Financial Advice Seeking

    NARCIS (Netherlands)

    Kramer, Marc M.

    2016-01-01

    We find that people with higher confidence in their own financial literacy are less likely to seek financial advice, but no relation between objective measures of literacy and advice seeking. The negative association between confidence and advice seeking is more pronounced among wealthy households.

  5. Invest in Financial Literacy

    Science.gov (United States)

    Bush, Sarah B.; McGatha, Maggie B.; Bay-Williams, Jennifer M.

    2012-01-01

    The current state of the economy elevates the need to build awareness of financial markets and personal finance among the nation's young people through implementing a financial literacy curriculum in schools. A limited amount of time spent on financial literacy can have a positive effect on students' budgeting skills. This knowledge will only add…

  6. Financial Literacy, Financial Education, and Economic Outcomes

    Science.gov (United States)

    Hastings, Justine S.; Madrian, Brigitte C.; Skimmyhorn, William L.

    2013-01-01

    In this article, we review the literature on financial literacy, financial education, and consumer financial outcomes. We consider how financial literacy is measured in the current literature and examine how well the existing literature addresses whether financial education improves financial literacy or personal financial outcomes. We discuss the…

  7. Does financial literacy improve financial inclusion? Cross country evidence

    OpenAIRE

    Grohmann, Antonia; Klühs, Theres; Menkhoff, Lukas

    2017-01-01

    While financial inclusion is typically addressed by improving the financial infrastructure we show that financial literacy, representing the demand-side of financial markets, also has a beneficial effect. We study this effect at the cross-country level, which allows to consider institutional variation. Regarding "access to finance", financial infrastructure and financial literacy are mainly substitutes. However, regarding the "use of financial services", the effect of higher financial literac...

  8. Financial Literacy and Financial Planning in France

    Directory of Open Access Journals (Sweden)

    Luc Arrondel

    2013-07-01

    Full Text Available We study financial literacy in France using the PATER survey and following the Lusardi and Mitchell (2011c approach. We find that some subpopulations are less financially literate than others: women, young and old people as well as less-educated people are more likely to face difficulties when dealing with fundamental financial concepts such as risk diversification and inflation and interest compounding. We also find some differences in financial knowledge depending on the political opinion of the respondents. Finally we show that these differences in financial knowledge are correlated with differences in the propensity to plan: people who score higher on the financial literacy questions are more likely to be engaged in the preparation of a clearly defined financial plan.

  9. The Geography of Financial Literacy

    OpenAIRE

    Christopher Bumcrot; Judy Lin; Annamaria Lusardi

    2013-01-01

    This paper explores how well equipped today’s households are to make complex financial decisions in the face of often high-cost and high-risk financial instruments. Specifically we focus on financial literacy. Most importantly, we describe the geography of financial literacy, i.e., how financial literacy is distributed across the fifty US states. We describe the correlation of financial literacy and some important aggregate variables, such as state-level poverty rates. Finally, we examine the...

  10. Childhood roots of financial literacy

    OpenAIRE

    Grohmann, Antonia; Kouwenberg, Roy; Menkhoff, Lukas

    2015-01-01

    Financial literacy predicts informed financial decisions, but what explains financial literacy? We use the concept of financial socialization and aim to represent three major agents of financial socialization: family, school and work. Thus we compile twelve relevant childhood characteristics in a new survey study and examine their relation to financial literacy, while controlling for established socio-demographic characteristics. We find in a mediation analysis that both family and school pos...

  11. Financial Literacy Education for Women

    Science.gov (United States)

    Jarecke, Jodi; Taylor, Edward W.; Hira, Tahira K.

    2014-01-01

    Exploring the pedagogical approaches of four women's financial literacy education programs, this chapter provides an overview of trends and needs in financial education for women and offers pedagogical strategies for teaching women about finance.

  12. The Importance of Financial Literacy

    Science.gov (United States)

    Kezar, Adrianna; Yang, Hannah

    2010-01-01

    In this article, the authors argue that campus communities must play a more active role in developing financial literacy than they currently do--and not just by providing counseling in moments of emergency. They argue that financial literacy, as a life skill, as a requisite to citizenship, and as a critical intellectual competency, is an essential…

  13. Teaching OOP with Financial Literacy

    Science.gov (United States)

    Zhu, Hongwei

    2011-01-01

    Students lose interest in learning programming when the materials are not related to their lives. A challenge facing most students is that they lack the financial literacy necessary to manage their debts. An approach is developed to integrate financial literacy into an object-oriented programming (OOP) course. The approach is effective in…

  14. Psychosocial factors and financial literacy.

    Science.gov (United States)

    Murphy, John L

    2013-01-01

    This study uses data from the Health and Retirement Study (HRS) to analyze the psychological and social variables associated with financial literacy. The HRS is a nationally representative longitudinal survey of individuals older than age 50 and their spouses. An ordinary least squares linear regression analysis explores the relationship between financial literacy and several economic and psychosocial variables. After controlling for earnings, level of education, and other socioeconomic variables in this exploratory study, I find that financial satisfaction and religiosity are correlated with financial literacy.

  15. Financial literacy and financial literacy education : what might be the components of an effective financial literacy curriculum?

    OpenAIRE

    Lee, Nirmala

    2010-01-01

    Abstract There is concern about lack of financial literacy and need for financial literacy education, but little or no attempt to understand their nature. Three questions were asked: 'What is financial literacy?', 'What is financial literacy education?' and 'What might be the components of an effective financial literacy curriculum?'. Adopting an inductive grounded theory approach and a pragmatist philosophy, in association with real-world organisations such as the National ...

  16. Balancing Responsibilities – Financial Literacy

    OpenAIRE

    Gail Pearson; Philip N Stoop; Michelle Kelly-Louw

    2017-01-01

    In Australia there is an obligation to promote the informed participation of financial consumers while in South Africa there is an obligation to educate consumers. The Australian obligation is concerned with the financial system as a whole while the South African obligation has generally been focused on general financial education as a tool to promote financial inclusion. There is no obligation for consumers to attain a minimum standard of literacy in credit or finance generally. Financial li...

  17. Financial Literacy as the Foundation for Individual Financial Behavior

    Science.gov (United States)

    Dwiastanti, Anis

    2015-01-01

    Research that is dealing with financial literacy turns to be such an important thing to be conducted. It is due to the fact that financial literacy level of Indonesian society is still very low. A good financial literacy is necessary for every individual to manage his/her finances to achieve prosperity. To have a good level of financial literacy,…

  18. Characterizing Financial and Statistical Literacy

    DEFF Research Database (Denmark)

    Di Girolamo, Amalia; Harrison, Glenn W.; Lau, Morten

    We characterize the literacy of an individual in a domain by their elicited subjective belief distribution over the possible responses to a question posed in that domain. We consider literacy across several financial, economic and statistical domains. We find considerable demographic heterogeneity...

  19. Financial Literacy, Retirement Planning and Household Wealth

    NARCIS (Netherlands)

    van Rooij, Maarten C. J.; Lusardi, Annamaria; Alessie, Rob J. M.

    Relying on comprehensive measures of financial knowledge, we provide evidence of a strong positive association between financial literacy and net worth, even after controlling for many determinants of wealth. We discuss two channels through which financial literacy might facilitate wealth

  20. Financial literacy of university students

    OpenAIRE

    Rodrigues, Cristina S.; Vieira, Filipa Dionísio; Amaral, António Manuel Pereira da Silva; Martins, F. Vitorino

    2012-01-01

    The current financial crisis highlights real problems profoundly related to the level of financial knowledge. Some studies suggest that many individuals, including small business owners, do not have adequate financial skills to be able to handle their finances. The term "financial literacy" summarizes the set of knowledge, skills and attitudes necessary to enable recognition and understanding of the foundations of personal finance. Informed and literate individuals are able to make responsibl...

  1. Balancing Responsibilities – Financial Literacy

    Directory of Open Access Journals (Sweden)

    Gail Pearson

    2017-03-01

    Full Text Available In Australia there is an obligation to promote the informed participation of financial consumers while in South Africa there is an obligation to educate consumers. The Australian obligation is concerned with the financial system as a whole while the South African obligation has generally been focused on general financial education as a tool to promote financial inclusion. There is no obligation for consumers to attain a minimum standard of literacy in credit or finance generally. Financial literacy is one among a number of strategies directed towards inducing changes in consumer behaviour. It sits between the old regulatory model which relies on disclosure of information for effective and rational decision-making and a newer regulatory model which takes into account individuals' perceptions and behavioural biases and may seek to accommodate for these by imposing obligations on financial services providers beyond the mere disclosure of information. Financial literacy is generally the ability to understand how money works, how a person can earn money or make it more. It specifically refers to the set of skills and knowledge that allows people to make informed and effective decisions with all of their financial resources. This article discusses Australian and South African legal obligations and social responsibilities aimed at promoting the financial literacy of consumers.

  2. Financial Literacy. Snapshots. Volume 6, Issue 6, Article 1

    Science.gov (United States)

    Thomson, Sue

    2015-01-01

    Young people face financial issues at an earlier age than their parents. Decisions about higher education, the need to be able to manage online payment facilities or even mobile phone plans require a level of financial literacy. PISA 2012 offered an opportunity to collect information about the financial literacy of Australian 15-year-old students,…

  3. Financial Literacy: Empirical Sociological Approaches

    Directory of Open Access Journals (Sweden)

    Henye Livia Kovacsne

    2015-05-01

    Full Text Available The recent financial crises that started in the USA and spread all over Europe highlighted the importance of research in the field of financial culture. A variety of research projects pointed out that the general population’s financial literacy is lacking basic knowledge. The ever changing economic climate, demographic changes, tendencies in the financial processing sector and the acceleration in product innovation put considerable pressure on the everyday decision making process of a household. The overview of the international and national research on the subject proves that the improving of the population’s, especially the young people’s financial literacy is a priority both in leading economic countries and in Hungary, too. The idea of financial culture is as complex as the variety of research into the topic proves it. This article aims to point out the complicated nature of the notion and the variety of research that has been inserted into it.

  4. Financial Literacy and Self-Employment

    OpenAIRE

    Cumurovic, Aida; Hyll, Walter

    2016-01-01

    In this paper, we study the relationship between financial literacy and self-employment. We use established financial knowledge-based questions to measure financial literacy levels. The analysis shows a highly significant correlation between self-employment and financial literacy scores. To investigate the impact of financial literacy on being self-employed, we apply instrumental variable techniques based on information on economic education before entering the labour market and education of ...

  5. Empowering Physicians with Financial Literacy.

    Science.gov (United States)

    Bar-Or, Yuval

    2015-01-01

    Most doctors complete their medical training without sufficient knowledge of business and finance. This leads to inefficient financial decisions, avoidable losses, and unnecessary anxiety. A big part of the problem is that the existing options for gaining financial knowledge are flawed. The ideal solution is to provide a simple framework of financial literacy to all students: one that can be adapted to their specific circumstances. That framework must be delivered by an objective expert to young physicians before they complete medical training.

  6. FINANCIAL LITERACY AROUND THE WORLD: AN OVERVIEW.

    Science.gov (United States)

    Lusardi, Annamaria; Mitchell, Olivia S

    2011-10-01

    In an increasingly risky and globalized marketplace, people must be able to make well-informed financial decisions. Yet new international research demonstrates that financial illiteracy is widespread when financial markets are well developed as in Germany, the Netherlands, Sweden, Japan, Italy, New Zealand, and the United States, or when they are changing rapidly as in Russia. Further, across these countries, we show that the older population believes itself well informed, even though it is actually less well informed than average. Other common patterns are also evident: women are less financially literate than men and are aware of this shortfall. More educated people are more informed, yet education is far from a perfect proxy for literacy. There are also ethnic/racial and regional differences: city-dwellers in Russia are better informed than their rural counterparts, while in the U.S., African Americans and Hispanics are relatively less financially literate than others. Moreover, the more financially knowledgeable are also those most likely to plan for retirement. In fact, answering one additional financial question correctly is associated with a 3-4 percentage point higher chance of planning for retirement in countries as diverse as Germany, the U.S., Japan, and Sweden; in the Netherlands, it boosts planning by 10 percentage points. Finally, using instrumental variables, we show that these estimates probably underestimate the effects of financial literacy on retirement planning. In sum, around the world, financial literacy is critical to retirement security.

  7. Financial Literacy and Retirement Planning in Sweden

    OpenAIRE

    Johan Almenberg; Jenny Säve-Söderbergh

    2011-01-01

    We examine the relationship between financial literacy and retirement planning in a representative sample of Swedish adults. We find significant differences in financial literacy between planners and non-planners. Financial literacy levels are also lower among older people, women and those with low education or earnings. When we control for demographic variables we do not find an association between a narrow measure of financial literacy and planning, but with a broader measure the associatio...

  8. Financial Literacy and Retirement Planning in Switzerland

    Directory of Open Access Journals (Sweden)

    Martin Brown

    2013-07-01

    Full Text Available We use a representative survey covering 1,500 households to document the level of financial literacy in Switzerland and to examine how financial literacy is related to retirement planning. We measure financial literacy with standardized questions that capture knowledge about three basic financial concepts: Compound interest, inflation, and risk diversification. We measure retirement planning by the incidence of a voluntary retirement savings account. Our results show that financial literacy in Switzerland is high by international standards--a result which is compatible with the high ranking of Switzerland on the PISA mathematical scales. Financial literacy is lower among low-income, less-educated, and immigrant, non-native-speaking households as well as among women. We find that financial literacy is strongly correlated with voluntary retirement saving. Our results also show that financial literacy is correlated with financial market participation and mortgage borrowing.

  9. Financial Literacy and Retirement Planning in Australia

    Directory of Open Access Journals (Sweden)

    Julie R. Agnew

    2013-07-01

    Full Text Available Financial literacy and numeracy are closely tied. Furthermore, financial literacy has been shown to relate to important financial behaviors. This study examines the relationship between financial literacy and retirement planning using a measure that includes questions requiring numeracy. We implement a customized survey to a representative sample of 1,024 Australians. Overall, we find aggregate levels of financial literacy similar to comparable countries with the young, least educated, those not employed, and those not in the labor force most at risk. Our financial literacy measure is positively related to retirement planning in our sample.

  10. Teaching Financial Literacy with Max and Ruby

    Science.gov (United States)

    Brown, Natalya; Ferguson, Kristen

    2017-01-01

    Teaching financial literacy is important at all stages of life, but is often neglected with elementary students. In this article, the authors describe a strategy for teaching financial literacy using the books about Max and Ruby by Rosemary Wells. These books can help introduce the five key concepts of financial literacy: scarcity, exchange,…

  11. How Financial Literacy Affects Household Wealth Accumulation.

    Science.gov (United States)

    Behrman, Jere R; Mitchell, Olivia S; Soo, Cindy K; Bravo, David

    2012-05-01

    This study isolates the causal effects of financial literacy and schooling on wealth accumulation using a new household dataset and an instrumental variables (IV) approach. Financial literacy and schooling attainment are both strongly positively associated with wealth outcomes in linear regression models, whereas the IV estimates reveal even more potent effects of financial literacy. They also indicate that the schooling effect only becomes positive when interacted with financial literacy. Estimated impacts are substantial enough to imply that investments in financial literacy could have large wealth payoffs.

  12. FINANCIAL LITERACY AS A PATH TO SUSTAINABILITY

    Directory of Open Access Journals (Sweden)

    Michaela Krechovská

    2015-07-01

    Full Text Available The paper aims to highlight the important role of financial literacy as one of the factors that ensures sustainable development in society. First, the paper deals with the definition of financial literacy and the importance of financial literacy for society. It analyses various symptoms associated with the level of financial literacy in the form of household debt and the number of ordered property repossessions. Furthermore, the paper focuses on the measurement of financial literacy and, in this context, presents selected results of the survey of financial literacy from a selected group of respondents (university students in the Czech Republic that were acquired as part of the "V4 Scientific Centers for the Enhancement of Financial Literacy and Entrepreneurship Education" project focused on research in the field of entrepreneurship education and financial literacy in Visegrad Group countries. Financial literacy is seen as one of the most important characteristics that can determine the behaviour of individuals in the world of finance, their approaches to payment discipline, debt and thinking for the future. In this regard, it is important to put emphasis on financial education as a tool for heightening and developing practical financial literacy.

  13. Financial Literacy and Financial Behaviour: Experimental Evidence from Rural Rwanda

    NARCIS (Netherlands)

    Sayinzoga, Aussi; Bulte, E.H.; Lensink, Robert

    We organise a field experiment with smallholder farmers in Rwanda to measure the impact of financial literacy training on financial knowledge and behaviour. The training increased financial literacy of participants, changed their savings and borrowing behaviour and had a positive effect on the new

  14. Financial Learning: Is It The Effective Way to Improve Financial Literacy among Accounting Students?

    Directory of Open Access Journals (Sweden)

    Herawati Nyoman Trisna

    2018-01-01

    Full Text Available The aims of this study are to determine: the difference of financial literacy level between students who have had experience in financial learning and who have not had experience in financial learning. The data for this study was collected through financial literacy test and questionnaire which was distributed through randomized sampling method. A total of 173 completed and usable questionnaire have been collected. The result shows that the level of financial literacy among accounting students comes under below optimal standard category. Students who have had financial learning experience have a higher level of financial literacy than students who have not. This study provides means to improve financial learning for accounting students in preparation for creating a prosperous future.

  15. Poorer Financial and Health Literacy Among Community-Dwelling Older Adults With Mild Cognitive Impairment.

    Science.gov (United States)

    Han, S Duke; Boyle, Patricia A; James, Bryan D; Yu, Lei; Bennett, David A

    2015-09-01

    Literacy is an important determinant of financial and health outcomes in old age, and cognitive decline has been linked with lower literacy. We tested the hypothesis that mild cognitive impairment (MCI) is associated with poorer financial and health literacy. Participants (n = 730) from the Rush Memory and Aging Project were given a clinical evaluation and an assessment of total, financial, and health literacy. Regression was used to examine whether MCI was associated with lower literacy. In secondary analyses, we investigated the association of particular cognitive systems with literacy. MCI was associated with lower total, financial, and health literacy. An interaction was observed such that higher education reduced the effect of MCI on total and financial literacy. Multiple cognitive systems were associated with literacy in participants with MCI, and semantic memory accounted for the most variance. Persons with MCI exhibit poorer financial and health literacy, and education mitigates this effect. © The Author(s) 2015.

  16. Financial Literacy: A Critical Adult Education Appraisal

    Science.gov (United States)

    English, Leona M.

    2014-01-01

    This chapter critically examines financial literacy education, asking what its assumptions are and what adult educators need to ask of its curriculum, its bases, and the people being taught to be financially literate.

  17. Financial Literacy: An Essential Component of Mathematics Literacy and Numeracy

    Science.gov (United States)

    Sole, Marla A.

    2014-01-01

    With rising personal and public debt, public and private employers increasingly shifting financial responsibility to individuals, and an increase in both the number of financial investment options and predatory lending practices, today's students need to be financially literate. This paper defines financial literacy and justifies its place in the…

  18. Valuing Financial Literacy : Evidence from Indonesia

    OpenAIRE

    Bilal Zia

    2009-01-01

    The fifth in impact series presents results on a careful evaluation of a financial literacy program in Indonesia. Despite the recent hype of the benefits of financial literacy programs in both the media and policy-making circles, this research is the first systematic and scientific evaluation of one such program.

  19. Financial Literacy: Getting beyond the Markets

    Science.gov (United States)

    Stanford, Jim

    2010-01-01

    Recently, several Canadian provinces have added financial literacy into core curriculum for high school students, and in his 2009 budget, federal Finance Minister Jim Flaherty announced the creation of a Task Force to evaluate current financial literacy initiatives. Typically, these initiatives focus on "individual responsibility",…

  20. Does Financial Literacy Contribute to Food Security?

    Science.gov (United States)

    Carman, Katherine G; Zamarro, Gema

    2016-01-01

    Food insecurity, not having consistent access to adequate food for active, healthy lives for all household members, is most common among low income households. However, income alone is not sufficient to explain who experiences food insecurity. This study investigates the relationship between financial literacy and food security. We find that low income households who exhibit financial literacy are less likely to experience food insecurity.

  1. Financial Literacy with Families: Opportunity and Hope

    Science.gov (United States)

    Baron, Lorraine M.

    2015-01-01

    In this article, the author explores the link between citizens' quantitative literacy abilities and their financial prosperity. The author applies a robust social justice research vision and a Freirean approach to describe personal flourishing within the context of numerical, mathematical, and financial literacy (NMFL) education. Four families…

  2. In Our Best Interest: Women, Financial Literacy, and Credit Card Behavior

    Directory of Open Access Journals (Sweden)

    Gary R. Mottola

    2013-07-01

    Full Text Available Data from the FINRA Foundation National Financial Capability Study revealed that women with low levels of financial literacy were more likely to engage in costly credit card behaviors—like incurring late and over-the-limit fees—than men with low financial literacy. There were, however, no differences in behavior between men and women with high financial literacy. Further, women and low financial literacy respondents reported paying higher interest rates on their credit cards. These findings suggest that increasing financial literacy may help reduce some gender-based differences in credit card behavior and lower credit card interest rates for both men and women.

  3. Why Financial Advice Cannot Substitute for Financial Literacy?

    OpenAIRE

    M. Debbich

    2015-01-01

    This paper examines the ability of financial advice provided by sellers of financial services to substitute for financial literacy of customers. I set up a simple theoretical model in which an informed financial advisor communicates with a less informed customer of financial services. Given the existence of a conflict of interest from the advisor's perspective, the model predicts that only well financially sophisticated customers receive relevant information from the advisor. This fact tends ...

  4. The Financial Literacy of Social Work Students

    Science.gov (United States)

    Kindle, Peter A.

    2013-01-01

    The financial literacy of social work students has become the focus of curriculum development and research, but no study to date has attempted to assess the financial knowledge possessed by social work students. This study addressed that gap by assessing the level of objective financial knowledge reported by social work student respondents…

  5. National Consumer and Financial Literacy Framework

    Science.gov (United States)

    Ministerial Council for Education, Early Childhood Development and Youth Affairs (NJ1), 2011

    2011-01-01

    This document is a revised version of the National Consumer and Financial Literacy Framework (the Framework) originally developed in 2005. It articulates a rationale for consumer and financial education in Australian schools; describes essential consumer and financial capabilities that will support lifelong learning; and provides guidance on how…

  6. Pension Plan Types and Financial Literacy in Later Life.

    Science.gov (United States)

    Li, Yang; Burr, Jeffrey A; Miller, Edward Alan

    2017-09-09

    The ongoing shift from defined benefit (DB) to defined contribution (DC) pension plans means that middle-aged and older adults are increasingly being called upon to manage their own fiscal security in retirement. Yet, half of older Americans are financially illiterate, lacking the knowledge and skills to manage financial resources. This study investigates whether pension plan types are associated with varying levels of financial literacy among older Americans. Cross-sectional analyses of the 2010 Health and Retirement Study (HRS) (n = 1,281) using logistic and linear regression models were employed to investigate the association between different pension plans and multiple indicators of financial literacy. The potential moderating effect of gender was also examined. Respondents with DC plans, with or without additional DB plans, were more likely to correctly answer various financial literacy questions, in comparison with respondents with DB plans only. Men with both DC and DB plans scored significantly higher on the financial literacy index than women with both types of plans, relative to respondents with DB plans only. Middle-aged and older adults, who are incentivized by participation in DC plans to manage financial resources and decide where to invest pension funds, tend to self-educate to improve financial knowledge and skills, thereby resulting in greater financial literacy. This finding suggests that traditional financial education programs may not be the only means of achieving financial literacy. Further consideration should be given to providing older adults with continued, long-term exposure to financial decision-making opportunities. © The Author 2017. Published by Oxford University Press on behalf of The Gerontological Society of America. All rights reserved. For permissions, please e-mail: journals.permissions@oup.com.

  7. Balancing responsibilities – financial literacy | Pearson ...

    African Journals Online (AJOL)

    There is no obligation for consumers to attain a minimum standard of literacy in credit or finance generally. Financial literacy is one among a number of strategies directed towards inducing changes in consumer behaviour. It sits between the old regulatory model which relies on disclosure of information for effective and ...

  8. Financial Literacy, Financial Education and Economic Outcomes. NBER Working Paper No. 18412

    Science.gov (United States)

    Hastings, Justine S.; Madrian, Brigitte C.; Skimmyhorn, William L.

    2012-01-01

    In this article we review the literature on financial literacy, financial education, and consumer financial outcomes. We consider how financial literacy is measured in the current literature, and examine how well the existing literature addresses whether financial education improves financial literacy or personal financial outcomes. We discuss the…

  9. DOES FINANCIAL LITERACY CONTRIBUTE TO FOOD SECURITY?

    Directory of Open Access Journals (Sweden)

    Katherine Grace Carman

    2016-01-01

    Full Text Available Food insecurity, not having consistent access to adequate food for active, healthy lives for all household members is most common among low income households. However, income alone is not sufficient to explain who experiences food insecurity. This study investigates the relationship between financial literacy and food security. We find that low income households who exhibit financial literacy are less likely to experience food insecurity.

  10. Financial Stress, Financial Literacy, Counselling and the Risk of Homelessness

    Directory of Open Access Journals (Sweden)

    Adam Steen

    2013-09-01

    Full Text Available Poor financial literacy may lead to poor life choices. These life choices can create or contribute to financial stress with adverse consequences - not the least of which may be homelessness. These issues are relatively well understood, but there is limited research on the link between financial stress, financial literacy and counselling, and homelessness. Specifically, there has been little research on how improved financial literacy and appropriate financial counselling might help to prevent homelessness. This paper synthesises existing literature on this topic and considers these issues using the ABCX family stress model of Hill (1958 using data from an Australian program aimed at alleviating family homelessness, the Home Advice Program. We provide evidence that suggests that case management and support which incorporates financial counselling and financial literacy can assist in moderating the impact of financial stress and help those at risk of homelessness. The findings have implications for public policy in the areas of financial education, consumer finance, and social services provision.

  11. Financial Literacy and Financial Education: Review and Policy Implications

    OpenAIRE

    Annamaria Lusardi

    2006-01-01

    In recent years, as workers have gained an unprecedented degree of control over their pensions and savings, the importance of financial literacy and financial education has increased considerably. Large changes in the structure of financial markets, labor markets, and demographics in developed countries have led to this change. Consumers have a bewildering array of complex financial products – from reverse mortgages to annuities – to choose from, making saving decisions increasingly complex. ...

  12. Personal Financial Literacy and Financial Planning in Klang Valley, Malaysia

    OpenAIRE

    Hoe, Siew Yee

    2008-01-01

    The financial planning industry in Malaysia is still very much at its inception stage. Currently, regulators- Bank Negara Malaysia and Securities Commission of Malaysia have started to regulate the industry by imposing requirements for whoever wanted to venture into the financial planning profession. The title of ‘Financial Planner’ is now highly legalized by the authorities. Empirical studies have been done by overseas scholars and found that the lack of personal financial literacy has been ...

  13. The actual challenges of financial literacy

    Directory of Open Access Journals (Sweden)

    Mitchell Jan W.

    2016-01-01

    Full Text Available In our always-evolving world, financial literacy and inclusion are crucial in the development of sustainable welfare and a more transparent and fairer society. We cannot forget that the subprime mortgage crisis of 2008 that has continued across the world to this day has financial illiteracy as one of the most aggravating factors. The main challenge for many consumers worldwide is that the requirements of adequate financial literacy skills have been steadily increasing over time. Individuals have to take a wide range of financial decisions and unfortunately, they sometimes overlook or simply do not know the risk attached with the decisions they are making until it is too late. The main challenges for financial literacy at the micro-level, meso-level, and macro-level are over deference to the financial industry, lack of financial knowledge, overconfidence about financial knowledge, lack of government initiatives, frameworks and regulations, lack of life-cycle planning and interesting and fascinating ways to teach financial literacy skills.

  14. What Does Financial Literacy Training Teach Us?

    Science.gov (United States)

    Carlin, Bruce Ian; Robinson, David T.

    2012-01-01

    The authors use data from a finance-related theme park to explore how financial education changes investment, financing, and consumer behavior. Students were assigned fictitious life situations and asked to create household budgets. Some students received a 19-hour financial literacy curriculum before going to the park, and some did not. After…

  15. Financial Literacy of Freshmen Business School Students

    Science.gov (United States)

    Rosacker, Kirsten M.; Ragothaman, Srini; Gillispie, Michael

    2009-01-01

    In recent years, financial literacy has increasingly captured the attention of the banking and financial industries, policy makers, government agencies, public interest groups, and members of the news media. These interested parties are concerned that consumers lack the basic skills required to make decisions beneficial to their economic welfare.…

  16. Financial Literacy and Education Research Priorities

    Science.gov (United States)

    Schuchardt, Jane; Hanna, Sherman D.; Hira, Tahira K.; Lyons, Angela C.; Palmer, Lance; Xiao, Jing Jian

    2009-01-01

    Twenty-nine scholars from public and private universities, non-profit organizations, and the federal government participated in a National Research Symposium on Financial Literacy and Education in October 2008 in Washington, DC. The purpose was to identify critical research questions that could inform outcomes-based financial education, relevant…

  17. A Bull Market for Financial Literacy

    Science.gov (United States)

    Finkel, Ed

    2010-01-01

    School districts across the country have been taking a harder look at what they are teaching students about financial literacy in the wake of the financial crisis of the past few years, caused in part by excessive credit card and mortgage debt. While economics courses have been common for many years, particularly at the high school level,…

  18. Financial literacy and stock market participation

    NARCIS (Netherlands)

    van Rooij, Maarten; Lusardi, Annamaria; Alessie, Rob

    We have devised two special modules for De Nederlandsche Bank (DNB) Household Survey to measure financial literacy and study its relationship to stock market participation. We find that the majority of respondents display basic financial knowledge and have some grasp of concepts such as interest

  19. Financial literacy, risk aversion and choice of mortgage type by households

    NARCIS (Netherlands)

    Cox, R.; Brounen, Dirk; Neuteboom, P.

    2015-01-01

    This paper analyzes how financial literacy and reported willingness to take financial risk impact a household’s choice of mortgage type. The results show that households reporting higher financial literacy and lower risk aversion are 55 to 97 % more likely to opt for interest-only mortgages. The

  20. Financial Literacy and Financial Sophistication in the Older Population

    Science.gov (United States)

    Lusardi, Annamaria; Mitchell, Olivia S.; Curto, Vilsa

    2017-01-01

    Using a special-purpose module implemented in the Health and Retirement Study, we evaluate financial sophistication in the American population over the age of 50. We combine several financial literacy questions into an overall index to highlight which questions best capture financial sophistication and examine the sensitivity of financial literacy responses to framing effects. Results show that many older respondents are not financially sophisticated: they fail to grasp essential aspects of risk diversification, asset valuation, portfolio choice, and investment fees. Subgroups with notable deficits include women, the least educated, non-Whites, and those over age 75. In view of the fact that retirees increasingly must take on responsibility for their own retirement security, such meager levels of knowledge have potentially serious and negative implications. PMID:28553191

  1. Financial Literacy and Financial Sophistication in the Older Population.

    Science.gov (United States)

    Lusardi, Annamaria; Mitchell, Olivia S; Curto, Vilsa

    2014-10-01

    Using a special-purpose module implemented in the Health and Retirement Study, we evaluate financial sophistication in the American population over the age of 50. We combine several financial literacy questions into an overall index to highlight which questions best capture financial sophistication and examine the sensitivity of financial literacy responses to framing effects. Results show that many older respondents are not financially sophisticated: they fail to grasp essential aspects of risk diversification, asset valuation, portfolio choice, and investment fees. Subgroups with notable deficits include women, the least educated, non-Whites, and those over age 75. In view of the fact that retirees increasingly must take on responsibility for their own retirement security, such meager levels of knowledge have potentially serious and negative implications.

  2. Teaching Middle-Grades Mathematics through Financial Literacy

    Science.gov (United States)

    Crawford-Ferre, Heather Glynn; Wiest, Lynda R.; Vega, Stephanie

    2016-01-01

    Because financial literacy is an important skill for middle-grades students, this article suggests numerous personal financial literacy tasks for use in the mathematics classroom. Also provided are specifics for implementing one of these tasks to address mathematical content.

  3. STOCKHOLDING AND FINANCIAL LITERACY IN THE FRENCH POPULATION

    OpenAIRE

    Arrondel, Luc; Debbich, Majdi; Savignac, Frédérique

    2012-01-01

    This paper investigates the link between financial literacy and stock market participation. We provide an assessment of the level of financial literacy in the French population using standard and original measures. Based on eight questions asked to individuals to assess their level of financial literacy, we construct two indices: basic financial requirements and financial culture. Regression results reveal strong impact of financial culture on the probability to hold stocks and weaker i...

  4. Federal Financial and Economic Literacy Education Programs, 2009

    Science.gov (United States)

    Hung, Angela A.; Mihaly, Kata; Yoong, Joanne K.

    2010-01-01

    Financial literacy--the ability to use knowledge and skills to manage financial resources effectively for a lifetime of financial well-being--is becoming more and more important as individuals and families become increasingly responsible for their own long-term financial well-being. Financial and economic literacy education programs have been…

  5. Adolescents' Financial Literacy: The Role of Financial Socialization Agents, Financial Experiences, and Money Attitudes in Shaping Financial Literacy among South Korean Youth

    Science.gov (United States)

    Sohn, Sang-Hee; Joo, So-Hyun; Grable, John E.; Lee, Seonglim; Kim, Minjeung

    2012-01-01

    The purpose of this study was to test the relationships between financial socialization agents, financial experiences, money attitudes, demographic characteristics, and the financial literacy of Korean adolescents. Using the 2006 Korean National Financial Literacy Test Survey for Adolescents (N = 1185), a series of regression analyses were…

  6. Teaching Students Financial Literacy Using the Internet

    Science.gov (United States)

    Risinger, C. Frederick

    2009-01-01

    As the author researched the causes and implications of the current economic crisis, he came across numerous commentaries on how financial literacy was seldom taught (or taught well) in U.S. schools. This article, aimed at teachers and supervisors at all grade levels, describes some Internet sites that: (1) explain the collapse of the housing…

  7. Financial Literacy among Israeli College Students

    Science.gov (United States)

    Shahrabani, Shosh

    2013-01-01

    In this study, responses of 574 students from two colleges in Israel were used to examine three issues: (a) financial literacy (FL) among Israeli college students, (b) gaps in FL between Jews and Arabs, and (c) factors affecting students' FL. The results showed that Israeli students exhibit a low level of FL and that FL is affected by gender,…

  8. 75 FR 54225 - Comment Request for the Financial Literacy and Education Commission on the Draft National...

    Science.gov (United States)

    2010-09-03

    ... DEPARTMENT OF THE TREASURY Comment Request for the Financial Literacy and Education Commission on the Draft National Strategy, Entitled National Strategy for Financial Literacy 2010 AGENCY: Department... Literacy and Education Commission (Commission) through passage of the Financial Literacy and Education...

  9. Financial Literacy and Long- and Short-Term Financial Behavior in Different Age Groups

    Science.gov (United States)

    Henager, Robin; Cude, Brenda J.

    2016-01-01

    The purpose of this study was to examine the relationship between financial literacy and financial behaviors among various age groups. Financial literacy was measured in three ways: objective financial knowledge, subjective financial knowledge or confidence, and subjective financial management ability. The age groups were 18-24, 25-34, 35-44,…

  10. [A review of definitions and measurement scales for financial literacy].

    Science.gov (United States)

    Kamiya, Tetsuji

    2017-02-01

    This paper examines the definitions and measurement scales for financial literacy presented in previous studies in order to develop a new financial literacy scale. The early definition of financial literacy basically meant “financial knowledge,” but the latest definition has been extended to include or refer to consumers’ financial behaviours, consumers’ interactions with their social and economic environments, and the effect of cognitive biases on consumers’ financial behaviours. On the other hand, conventional measurement scales for financial literacy are generally composed of declarative knowledge questions and numerical ability tests concerning personal finance. This paper addresses the fact that previous financial literacy scales have been based on the traditional concept of “Homo economicus”. We suggest that it is necessary to develop a new financial literacy scale that is comprised of critical thinking disposition such as “awareness for logical thinking” or “evidence-based judgment.”

  11. FINANCIAL LITERACY AMONG UNIVERSITY STUDENTS: EMPIRICAL EVIDENCE FROM INDONESIA

    Directory of Open Access Journals (Sweden)

    I Wayan Nuka Lantara

    2015-09-01

    Full Text Available This study investigates the level of financial literacy among undergraduate and graduate students. The study also examines the association between the students’ demographic factors and their financial literacy rate. Data were collected by distributing 800 questionnaires to undergraduate and graduate students of Gadjah Mada University, Indonesia, covering cross educational majors, ages, gender, education levels, marital status, income, and work experience. Out of the sample, a total of 348 respondents returned completed questionnaires, which gave a response rate of 43.5 percent. The findings show that on average 45.39 percent of the respondents answered the questions correctly, which is relatively low compared to what other studies found in other countries, such as Chen and Volpe (1998 in the US (52.87 percent, or Beal and Delpachitra (2003 in Australia (53 percent. It also seems that male students, students with economics and business majors, those with higher incomes, and more work experience have a higher financial literacy rate. Using probit and tobit regression tests, the study revealed that education levels and academic disciplines are positively associated with the financial literacy rate.

  12. Financial literacy and intra-household decision making: Evidence from Rwanda

    OpenAIRE

    Grohmann, Antonia; Schoofs, Annekathrin

    2018-01-01

    Despite considerable policy efforts, women continue to be underrepresented in positions of power and decision making. As an important aspect of women empowerment, we examine women's participation in intrahousehold financial decision making and how this is affected by financial literacy. Using both OLS and IV regression analysis, we show that women with higher financial literacy are more involved in household financial decisions. In line with the literature, we further find that women are less...

  13. Does financial education impact financial literacy and financial behavior, and if so, when?

    OpenAIRE

    Kaiser, Tim; Menkhoff, Lukas

    2017-01-01

    A meta-analysis of 126 impact evaluation studies finds that financial education significantly impacts financial behavior and, to an even larger extent, financial literacy. These results also hold for the subsample of randomized experiments (RCTs). However, intervention impacts are highly heterogeneous: financial education is less effective for low-income clients as well as in low- and lowe...

  14. Is Financial Literacy a Determinant of Health?

    Science.gov (United States)

    Meyer, Melanie

    2017-08-01

    Changes in economic conditions and healthcare delivery models have shifted more healthcare costs to patients, resulting in greater patient financial responsibilities. As a result, it is important to understand the potential impact of financial literacy on patients' healthcare behavior. With the focus on delivering better health outcomes at lower costs, factors that influence patient behavior are important considerations for healthcare providers. Although researchers have proposed a variety of conceptual models that identify influential factors, those models do not fully address financial literacy and its potential impact patients' healthcare decisions. This article examines existing models of patient healthcare decision-making and current research on factors affecting patient decision-making and behavior and then presents recommendations for closing the identified gap in our current knowledge.

  15. A Financial Literacy Measure: Gendering and Contextualising Financial Technicalities

    Directory of Open Access Journals (Sweden)

    Asta Zokaityte

    2016-03-01

    Full Text Available This article analyses the relationship between law, gender, and finance, with a particular focus on gender inequalities in the financial literacy measure which was constructed by the Organisation for Economic Cooperation and Development (OECD. It seeks to trouble predominant claims about financial literacy as an effective, ‘edu-regulatory’ policy to address gender inequalities in the financial services market. The article suggests that instead of acting as a neutral assessment of people’s financial literacy, the measure, in fact, embodies gendered assumptions about finance and financial practices. The measure presents a financial world in abstract terms and fails to account for different contexts within which financial decisions are made. The article exposes the measure’s problematic deployment of the literacy/illiteracy binary in thinking about financial gender inequalities. Rather than being attentive to the ways in which gender inequalities are produced in financial markets, the OECD measure misattributes these to irrational financial behaviour, and further reproduces the marginalisation of women in the global financial market. Este artículo analiza la relación entre derecho, género y finanzas, realizando un enfoque particular en las desigualdades de género existentes en el estudio sobre los conocimientos financieros que elaboró la Organización para la Cooperación y el Desarrollo Económico (OCDE. Busca contrastar las afirmaciones dominantes sobre los conocimientos financieros como una política efectiva, “edu-reguladora” para abordar las desigualdades de género en el mercado de servicios financieros. El artículo sugiere que, en lugar de realizar una evaluación neutral de los conocimientos financieros de las personas, la medida plasma asunciones de género sobre las finanzas y las prácticas financieras. El estudio presenta un mundo financiero en términos abstractos y no tiene en cuenta los diferentes contextos en los

  16. Credit counseling: a substitute for consumer financial literacy?

    OpenAIRE

    Disney, Richard; Gathergood, John; Weber, Jörg

    2015-01-01

    Is financial literacy a substitute or complement for financial advice? In this paper we analyze the decision by consumers to seek financial advice in the form of credit counseling concerning their credit and debt. Credit counseling is an important component of the consumer credit sector for consumers facing debt problems. We combine instrumental variable approaches to account for the endogeneity of an individual’s financial situation to financial literacy, and the endogeneity of financial lit...

  17. Promoting Financial Success in the United States: National Strategy for Financial Literacy, 2011

    Science.gov (United States)

    US Financial Literacy and Education Commission, 2011

    2011-01-01

    This paper describes a framework developed by the Financial Literacy and Education Commission (FLEC) to provide the foundation for an overarching financial literacy strategy. This framework establishes concrete goals that the non-profit, government, and private sectors can and should work together to increase financial literacy and improve…

  18. Correlates of health and financial literacy in older adults without dementia.

    Science.gov (United States)

    Bennett, Jarred S; Boyle, Patricia A; James, Bryan D; Bennett, David A

    2012-06-12

    Recent research has begun to recognize the important influence of literacy levels and how they affect health and wellbeing, especially in older adults. Our study focuses on health and financial literacy, two domains of literacy which previous research has suggested may be significantly related to health and wellbeing. Our study examines the relation of health and financial literacy with health promoting behaviors and health status among community-based older persons. We conducted a cross-sectional study using data from the Rush Memory and Aging Project, a community-based cohort study of aging in northeastern Illinois. The study consisted of 556 older persons without dementia, each determined by a clinical evaluation. Health and financial literacy were measured using a series of questions designed to assess the ability to understand and process health and financial information, concepts, and numeracy; the two scores were averaged to yield a total literacy score. Health promoting behaviors, including engagement in cognitive, physical, and social activities, were assessed using self report measures. Indicators of heath status, including cognition (global cognition and five specific cognitive abilities), functional status (basic and instrumental activities of daily living, mobility disability), and mental health (depressive symptoms, loneliness) were assessed. In a series of regression models adjusted for age, sex, and education, higher total literacy scores were associated with more frequent participation in health promoting behaviors, including cognitive, physical and social activities (all p values literacy scores were associated with higher cognitive function, less disability, and better mental health (all p values Literacy remained associated with health promoting behaviors and health status in fully adjusted models that also controlled for income and the number of chronic medical conditions. Most of the findings were similar for health and financial literacy

  19. Veterinary School Applicants: Financial Literacy and Behaviors.

    Science.gov (United States)

    Carr, McKensie M; Greenhill, Lisa M

    2015-01-01

    Each year the Association of American Veterinary Medical Colleges (AAVMC) conducts a survey after the close of the Veterinary Medical College Application Service (VMCAS) application. The survey provides a glimpse into applicant behavior surrounding the veterinary school application process. Additional survey questions probe into applicant financial behaviors, use of financial products and services, and pet ownership. This article examines the 2013 survey data from applicants who successfully completed the application, with a focus on applicant financial literacy and behaviors. Data from the study revealed a disconnect between applicants' perception of their ability to deal with day-to-day finances and their actual financial behaviors, particularly for first-generation college student applicants and applicants who are racially/ethnically underrepresented in veterinary medicine (URVM). Many applicants were not able to accurately report the average veterinary school graduate's student debt level, which suggests the potential need for better education about the costs associated with attending veterinary school.

  20. Improving Financial Literacy : case Study of Financial Education in Schools in Estonia

    OpenAIRE

    Rabtsinski, Deniss

    2010-01-01

    The thesis discusses the problem of low financial literacy levels that people have in today's world and how financial literacy levels can be improved through school education. It is identified that financial literacy is a complex problem requiring a complex solution (which is yet to be discovered). Financial education can only be part of this complex solution. Even so, financial education encounters similar problems as traditional education: the decay of knowledge and effective retention of l...

  1. Financial Literacy of High School Students: Evidence from Germany

    Science.gov (United States)

    Erner, Carsten; Goedde-Menke, Michael; Oberste, Michael

    2016-01-01

    After graduating high school, underage individuals soon face ever more complex and important financial decisions. Pivotal to the development of improved financial literacy programs is a comprehensive examination of financial literacy levels and potentially related factors. The authors conducted a survey among German high school students and found…

  2. The "Test of Financial Literacy": Development and Measurement Characteristics

    Science.gov (United States)

    Walstad, William B.; Rebeck, Ken

    2017-01-01

    The "Test of Financial Literacy" (TFL) was created to measure the financial knowledge of high school students. Its content is based on the standards and benchmarks stated in the "National Standards for Financial Literacy" (Council for Economic Education 2013). The test development process involved extensive item writing and…

  3. IMPACT OF EDUCATION ON THE FINANCIAL LITERACY: A CASE OF SLOVAKIA

    Directory of Open Access Journals (Sweden)

    Marián Tóth

    2015-07-01

    Full Text Available The Financial crisis in 2008 increased the focus of financial intermediaries and also national authorities for financial education and financial literacy of households. Bank association in Slovakia started to measure and increase the financial literacy of population and government implemented the National standard of financial literacy into the curriculum of grammar schools and high schools. This paper examines the level of financial literacy of students in Slovakia and the influence of determinants education level and education focus. We performed a questionnaire with 10 questions on a sample of 608 students from two Faculties of Slovak University of Agriculture. The questions were linked to 4 areas: interest, risk management, financial market and personal finance. To measure the level of financial literacy we use Index of financial literacy IFIG. Using Index of financial literacy and Mann-Whitney U test techniques we find that education level and education focus are relevant determinants of financial literacy level. Students with bachelor degree have better results when compared to high school students. The success rate measured by the IFIG of bachelor students was 0,658 and the success rate of high school students was 0,577. We also found differences based on the education focus. We compared two groups: students with economic focus of education with students with non-economic focus of education. Based on our results we can conclude that economic focus of education increases the level of financial literacy. The success rate of students with economic focus of education was significantly higher (0,674 compared to the students with non-economic focus of education (0,553.

  4. The Effects of Financial Education and Networks on Business Students' Financial Literacy

    Science.gov (United States)

    Chung, Yunhyung; Park, Youngkyun

    2014-01-01

    This study investigates the joint effects of financial education and educational networks on students' financial literacy. With a sample (N = 105) of senior students in a business college, the study finds that not only financial education, but also strong networks with professors, are positively related to the financial literacy of business…

  5. Financial literacy: Do people know the ABCs of finance?

    Science.gov (United States)

    Lusardi, Annamaria

    2015-04-01

    Increasingly, individuals are in charge of their own financial security and are confronted with ever more complex financial instruments. However, there is evidence that many individuals are not well-equipped to make sound saving decisions. This article looks at financial literacy, which is defined as the ability to process economic information and make informed decisions about financial planning, wealth accumulation, debt, and pensions. Failure to plan for retirement, lack of participation in the stock market, and poor borrowing behavior can all be linked to ignorance of basic financial concepts. Financial literacy impacts financial decision making, with implications that apply to individuals, communities, countries, and society as a whole. Given the lack of financial literacy among the population, it may be important to remedy it by adding financial literacy to the school curriculum. © The Author(s) 2015.

  6. Financial literacy among Turkish college students: the role of formal education, learning approaches, and parental teaching.

    Science.gov (United States)

    Akben-Selcuk, Elif; Altiok-Yilmaz, Ayse

    2014-10-01

    This study assessed financial literacy and its correlates among Turkish college students, with special emphasis on the role of formal education, learning approaches, and parental influences. Financial literacy was measured by the College Student Financial Literacy Survey, which assesses knowledge in four areas: general financial management, saving and borrowing, insurance, and investing. 853 Turkish university students were administered the survey (416 men, 437 women; M age = 20.3 yr., SD = 0.6). The mean percentage of correct responses was 45% (SD = 12.8%). Regression results showed that formal finance education in college, a deep approach to learning, and direct financial teaching by parents were significantly associated with higher financial literacy scores.

  7. Quantitative Literacy at Michigan State University, 2: Connection to Financial Literacy

    Directory of Open Access Journals (Sweden)

    Dennis Gilliland

    2011-07-01

    Full Text Available The lack of capability of making financial decisions has been recently described for the adult United States population. A concerted effort to increase awareness of this crisis, to improve education in quantitative and financial literacy, and to simplify financial decision-making processes is critical to the solution. This paper describes a study that was undertaken to explore the relationship between quantitative literacy and financial literacy for entering college freshmen. In summer 2010, incoming freshmen to Michigan State University were assessed. Well-tested financial literacy items and validated quantitative literacy assessment instruments were administered to 531 subjects. Logistic regression models were used to assess the relationship between level of financial literacy and independent variables including quantitative literacy score, ACT mathematics score, and demographic variables including gender. The study establishes a strong positive association between quantitative literacy and financial literacy on top of the effects of the other independent variables. Adding one percent to the performance on a quantitative literacy assessment changes the odds for being at the highest level of financial literacy by a factor estimated to be 1.05. Gender is found to have a large, statistically significant effect as well with being female changing the odds by a factor estimated to be 0.49.

  8. Financial Literacy of Latvian Citizens: Findings and Conclusions

    Directory of Open Access Journals (Sweden)

    Guna Ciemleja

    2016-08-01

    Full Text Available The global financial crisis and financial stability issues of the Eurozone countries have demonstrated that the total of financial knowledge and skills of the population that lets people make informed and efficient decisions is of utmost importance. Considering high social importance of financial education, it is necessary to develop a knowledge platform to increase the level of financial literacy. The results obtained in the process of assessment of the level of individual's financial literacy provide information on the factors, which reduce financial efficiency and cause unnecessary costs. Despite a vast body of international experience in the field of financial literacy assessment, one of the main problems is to develop a measuring instrument, which can ensure valid results and can be adapted to the socio-economic and demographic conditions of a definite country. Therefore, in 2015, academic personnel of the Department of Finance, Faculty of Engineering Economics and Management of Riga Technical University conducted research within the project «Enhancing Latvian Citizens' Securitability through Development of the Financial Literacy» and developed an instrument for assessment of the level of financial literacy, which can be used to evaluate financial knowledge of the Latvian citizens taking into consideration all components of financial literacy. The results are briefly described in the current paper.

  9. National Standards for Financial Literacy: Rationale and Content

    Science.gov (United States)

    Bosshardt, William; Walstad, William B.

    2014-01-01

    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…

  10. Family Health and Financial Literacy--Forging the Connection

    Science.gov (United States)

    Braun, Bonnie; Kim, Jinhee; Anderson, Elaine A.

    2009-01-01

    Families are at-risk of or experiencing a diminished quality of living and life in current economic times and difficult decisions are required. Health and financial literacy are the basis for wise personal and public decision making. Family and consumer sciences (FCS) professionals can forge connections between health and financial literacy to…

  11. Financial Literacy: Thai Middle Class Women Do Not Lag Behind

    NARCIS (Netherlands)

    A. Grohmann (Antonia); O. Hübler (Olaf); R.R.P. Kouwenberg (Roy); L. Menkhoff (Lukas)

    2016-01-01

    textabstractThis research studies the stylized fact of a “gender gap” in that women tend to have lower financial literacy than men. Our data which samples middle-class people from Bangkok does not show a gender gap. This result is not explained by men’s low financial literacy, nor by women’s high

  12. Financial literacy is associated with white matter integrity in old age.

    Science.gov (United States)

    Han, S Duke; Boyle, Patricia A; Arfanakis, Konstantinos; Fleischman, Debra; Yu, Lei; James, Bryan D; Bennett, David A

    2016-04-15

    Financial literacy, the ability to understand, access, and utilize information in ways that contribute to optimal financial outcomes, is important for independence and wellbeing in old age. We previously reported that financial literacy is associated with greater functional connectivity between brain regions in old age. Here, we tested the hypothesis that higher financial literacy would be associated with greater white matter integrity in old age. Participants included 346 persons without dementia (mean age=81.36, mean education=15.39, male/female=79/267, mean MMSE=28.52) from the Rush Memory and Aging Project. Financial literacy was assessed using a series of questions imbedded as part of an ongoing decision making study. White matter integrity was assessed with diffusion anisotropy measured with diffusion tensor magnetic resonance imaging (DTI). We tested the hypothesis that higher financial literacy is associated with higher diffusion anisotropy in white matter, adjusting for the effects of age, education, sex, and white matter hyperintense lesions. We then repeated the analysis also adjusting for cognitive function. Analyses revealed regions with significant positive associations between financial literacy and diffusion anisotropy, and many remained significant after accounting for cognitive function. White matter tracts connecting right hemisphere temporal-parietal brain regions were particularly implicated. Greater financial literacy is associated with higher diffusion anisotropy in white matter of nondemented older adults after adjusting for important covariates. These results suggest that financial literacy is positively associated with white matter integrity in old age. Copyright © 2016 The Authors. Published by Elsevier Inc. All rights reserved.

  13. Financial Literacy and Economic Outcomes: Evidence and Policy Implications.

    Science.gov (United States)

    Mitchell, Olivia S; Lusardi, Annamaria

    2015-01-01

    This paper reviews what we have learned over the past decade about financial literacy and its relationship to financial decision-making around the world. Using three questions, we have surveyed people in several countries to determine whether they have the fundamental knowledge of economics and finance needed to function as effective decision-makers. We find that levels of financial literacy are low not only in the United States. but also in many other countries including those with well-developed financial markets. Moreover, financial illiteracy is particularly acute for some demographic groups, especially women and the less-educated. These findings are important since financial literacy is linked to borrowing, saving, and spending patterns. We also offer new evidence on financial literacy among high school students drawing on the 2012 Programme for International Student Assessment implemented in 18 countries. Last, we discuss the implications of this research for policy.

  14. Curbing the Financial Exploitation of the Poor: Financial Literacy and Social Work Education

    Science.gov (United States)

    Karger, Howard

    2015-01-01

    The article investigates the importance of financial literacy content for social work students who at some point in their career will encounter financially-excluded clients. Financial literacy content can include understanding how fringe economy businesses operate, including their business model, knowledge of local and national nonpredatory…

  15. The impact of health and financial literacy on decision making in community-based older adults.

    Science.gov (United States)

    James, Bryan D; Boyle, Patricia A; Bennett, Jarred S; Bennett, David A

    2012-01-01

    Health and financial literacy have been linked to the health and well-being of older adults, yet there are few data on how health and financial literacy actually impact decision making regarding healthcare and economic choices in advanced age. To examine the association of health and financial literacy with decision making in older adults. Data came from 525 community-dwelling older persons without dementia from the Rush Memory and Aging Project, an ongoing longitudinal study of aging. Health and financial literacy were assessed via a series of questions designed to measure comprehension of health and financial information and concepts. The two scores were averaged to yield a total literacy score. A modified, 12-item version of the Decision-Making Competence Assessment Tool was used to measure financial and healthcare decision making (6 items each), using materials designed to approximate those used in real world settings. All 12 items were summed to yield a total decision-making score. Associations were tested via linear regression models adjusted for age, sex and education. Secondary models adjusted for global cognitive function, income, depression and chronic medical conditions. On average, participants correctly answered 67% of the literacy questions (health literacy = 61.6%, SD = 18.8% and financial literacy = 72.5%, SD = 16.0%). After adjustment for cognitive function, the total literacy score was positively associated with the decision-making total score (estimate = 0.64, SE = 0.08, p financial decision making (estimate = 0.28, SE = 0.05, p literacy, health and financial literacy all were independently associated with decision making in models adjusted for covariates including income, depression, and chronic medical conditions (all p values literacy and healthcare decision making was stronger among older persons, poorer persons and persons at the lower ranges of cognitive ability. Among community based older persons without dementia, higher levels of health

  16. Financial Literacy of Latvian Citizens: Findings and Conclusions

    OpenAIRE

    Guna Ciemleja

    2016-01-01

    The global financial crisis and financial stability issues of the Eurozone countries have demonstrated that the total of financial knowledge and skills of the population that lets people make informed and efficient decisions is of utmost importance. Considering high social importance of financial education, it is necessary to develop a knowledge platform to increase the level of financial literacy. The results obtained in the process of assessment of the level of individual's financial litera...

  17. The Use of Financial Literacy for Growing Personal Finance

    Directory of Open Access Journals (Sweden)

    Ardi Gunardi

    2017-07-01

    Full Text Available Financial literacy played an important role for everyone in managing personal finances.This research aimed to determine how the level of financial literacy in students S1 Faculty of Economics and Business, Universitas Pasundan and investigate what factors are influencing it. The observed respondents were students from the Faculty of Economics and Business, Universitas Pasundan. The research data was collected through questionnaires,descriptive analysis, and test multinominal logit. Based on the results of the research showed that the level of financial literacy from undergraduate students Universitas Pasundan was in the low category. Financial literacy was determined by gender, Greater Academic Achievement (GPA, parental education level, and parental income level;,whereas for age, year of study and residence do not contribute to the research model. The results of this study were expected to support personal financial planning of students in improving the skills of reading, analyzing, and managing their own finances, thus avoiding the daily financial problems.

  18. Assessing the Effects of Financial Literacy on Patient Engagement.

    Science.gov (United States)

    Meyer, Melanie A; Hudak, Ronald P

    2016-07-01

    We investigated the relationship between financial literacy and patient engagement while considering the possible interaction effects due to patient financial responsibility and patient-physician shared decision making, and the impact of personal attributes. Participants consisted of an Internet-based sample of American adults (N = 160). Hierarchical multiple linear regression analysis was conducted to examine the relationship of the study variables on patient engagement. We found that patient financial responsibility (β = -.19, p financial literacy and patient engagement; moreover, the moderation effects of patient financial responsibility and shared decision making with financial literacy also were not statistically significant. Increasing patient financial responsibility and patient-physician shared decision making can impact patient engagement. Understanding the predictors of patient engagement and the factors that influence financial behaviors may allow for the development of interventions to enable patients to make better healthcare decisions, and ultimately, improve health outcomes.

  19. A Note on Economic Principles and Financial Literacy

    OpenAIRE

    Zvi Bodie

    2006-01-01

    Finance is a branch of economics that deals with budgeting, saving, investing, borrowing, lending, insuring, diversifying, and matching. In setting standards of financial literacy we ought to make sure they are consistent with the basic principles taught in economics courses. In section I of this note I list four of the economic principles I believe can and should serve as a firm conceptual foundation for setting standards of financial literacy and for framing financial decisions. In section ...

  20. Logistic regression analysis of financial literacy implications for retirement planning in Croatia

    Directory of Open Access Journals (Sweden)

    Dajana Barbić

    2016-12-01

    Full Text Available The relationship between financial literacy and financial behavior is important, as individuals are increasingly being asked to take responsibility for their financial wellbeing, especially their retirement. Analyzing of individual savings and attitudes towards retirement planning is important, as these types of investments are a way of preserving security during years of financial vulnerability. Research indicates that individuals who do not save adequately for their retirement, generally have a relatively low level of financial literacy. This research investigates the relationship between financial literacy and retirement planning in Croatia. To analyze the relationship between financial literacy and planning for retirement, maximum likelihood logistic regression analysis was used. The paper shows that those who answer financial literacy questions correctly are more likely to have a positive attitude towards retirement planning and are more likely to save for retirement, ensuring them of higher levels of financial security in retirement. The Goodness-of-Fit evaluation for the estimated logit model was performed using the Andrews and Hosmer-Lemeshow Tests.

  1. Association of financial and health literacy with cognitive health in old age.

    Science.gov (United States)

    Wilson, Robert S; Yu, Lei; James, Bryan D; Bennett, David A; Boyle, Patricia A

    2017-03-01

    We tested the hypothesis that higher financial and health literacy is associated with better cognitive health in 755 older persons who completed a literacy measure (M = 67.9, SD = 14.5) and then had annual clinical evaluations for a mean of 3.4 years. In proportional hazards models, higher literacy was associated with decreased risk of developing incident Alzheimer's disease (n = 68) and results were similar for financial and health literacy subscales and after adjustment for potential confounders. In mixed-effects models, higher literacy was related to higher baseline level of cognition and reduced cognitive decline in multiple domains. Among the 602 persons without any cognitive impairment at baseline, higher literacy was associated with a reduced rate of cognitive decline and risk of developing incident mild cognitive impairment (n = 142). The results suggest that higher levels of financial and health literacy are associated with maintenance of cognitive health in old age.

  2. Effectiveness of Education Module Implementation on Increasing Islamic Financial Literacy and Halal Literacy of MSMEs Perpetrators

    Directory of Open Access Journals (Sweden)

    Ikka Nur Wahyuny

    2018-03-01

    Full Text Available This research was conducted to measure the impact of the implementation of Islamic Financial Literacy Education Module and Halal Product for Micro, Small and Medium Enterprises (MSMEs. The population in this study is the perpetrators of SMEs that run their business in the region of Yogyakarta Special Region. The sampling technique used is purposive sampling so that the sample used is 60 with the division of 30 experimental group and 30 people as the control group. Development of media using ADDIE model. Educational module has been through the phase of analysis, design, development, and implementation of MSMEs. At the evaluation stage, measurements are made to the perpetrators of SMEs with paired t test. The results of effectiveness test show the use of Islamic Financial Literacy Education Module and Halal Product can increase Islamic financial literacy and halal literacy of MSMEs perpetrators. Increased Islamic financial literacy and halal literacy can be seen from the average score before and after the use of Islamic financial literacy learning module and halal literacy. The conclusion of this research is a module with an important syariah theme done to provide ease in the transfer of knowledge of Islamic financial management and halal literacy for MSMEs.

  3. STUDI FENOMENOLOGI FINANCIAL LITERACY PENGRAJIN LOGAM DI PROPINSI JAWA TIMUR

    Directory of Open Access Journals (Sweden)

    Lilia Pasca Riani

    2017-09-01

    Full Text Available Tujuan dari penelitian ini adalah mendeskripsikan memetakan kondisi financial literacy pengrajin logam di Propinsi Jawa Timur. Adapun pendekatan penelitian menggunakan pendekatan kualitatif dengan menerapkan studi fenomenologi. Teknik pengumpulan data menggunakan wawancara mendalam dengan 8 pengrajin logam. Hasil dari penelitian ini adalah peneliti memperoleh 4 dimensi kondisi financial literacy pengrajin logam di Propinsi Jawa Timur, yaitu dimensi pengetahuan tentang istilah keuangan, dimensi manajemen uang, dimensi pencatatan keuanga dan sistem kerjan, serta penjelasan kondisi financial literacy pengrajin logam dari sisi pengetahuan tentang pajak.

  4. Determining factors that contribute to financial literacy for small and medium enterprises

    Science.gov (United States)

    Hakim, M. S.; Oktavianti, V.; Gunarta, I. K.

    2018-04-01

    Financial literacy on the SME owner/manager will subsequently improve the profitability of SME. Although, numerous research had existed in financial literacy subject, there are still limited research that examined the factor related to financial literacy. In this paper, we are examining demographic and SME factor that contribute to financial literacy using linear regression. Other objective of this paper is to confirm the benefit of financial literacy on access to credit. The finding shown that for demographic factor, level of education is contributed to financial literacy. The second finding is that level of financial literacy is related with greater degree of access to credit

  5. Financial literacy and retirement preparation in the Netherlands

    NARCIS (Netherlands)

    Alessie, Rob; van Rooij, Maarten; Lusardi, Annamaria

    2011-01-01

    We present new evidence on financial literacy and retirement preparation in the Netherlands based on two surveys conducted before and after the onset of the financial crisis. We document that while financial knowledge did not increase from 2005 to 2010, in 2010 significantly more individuals report

  6. Financial Literacy of Young Adults: The Importance of Parental Socialization

    Science.gov (United States)

    Jorgensen, Bryce L.; Savla, Jyoti

    2010-01-01

    This article tests a conceptual model of perceived parental influence on the financial literacy of young adults. Structural equation modeling was used to test whether (a) parents were perceived to influence young adults' financial knowledge, attitudes, and behaviors and (b) the degree to which young adults' financial attitudes mediated financial…

  7. Financial Literacy of Rural Population as a Determinant of Saving Behavior in Kazakhstan

    Directory of Open Access Journals (Sweden)

    Gaisina Sholpan

    2017-11-01

    Full Text Available In rural Kazakhstan, the credit and insurance services are limited and the state support is weak. Therefore, households’ saving is crucial to provide an insurance against the economic and social shocks. The main goal of this study is to contribute to the literature on financial literacy in emerging economies, namely, the effect of financial literacy on saving rates of rural population. Being well educated not always means to be financial literate and make efficient decisions regarding one’s own finance. People with a lower formal education level but with better experience in consuming financial products could be better prepared for making financial decisions including those related to savings. In this paper other socio-economic determinants of saving rates were taken into account, such as an income level, family size and an employment status. This research was carried out in Pavlodar region of Kazakhstan, and the data collection took place in spring 2014. In total, 405 households were surveyed. Results of the analysis show that if a respondent gives at least one correct answer, it positively affects the saving rates as well as one can observe that the higher the financial literacy level, the higher are the saving rates. Availability of state supported financial education programs for rural people will significantly contribute to the financial literacy improvement. At the same time, providing various and appropriate financial products in rural areas will motivate rural people to search for new knowledge and require authorities to intensify activities in this field.

  8. FINANCIAL LITERACY: A STUDY USING THE APPLICATION OF ITEM RESPONSE THEORY

    Directory of Open Access Journals (Sweden)

    João Carlos Hipólito Bernardes do Nascimento

    2016-04-01

    Full Text Available This study aimed to measure the level of financial literacy of Business Administration course students at a federal Higher Education Institution (HEI. To this end, a survey was conducted on 307 students. The Item Response Theory (IRT was employed for data analysis and the findings support the conclusion that the students show a low level of financial literacy, as well as the existence of a conservative investment profile among students. This scenario, in line with previous empirical studies conducted in the Brazil, is worrying given the potential negative externalities resulting from poor financial decisions, especially those related to home financing and retirement preparations. This study contributes to the empirical evaluation, within the national context, of the use of IRT in estimating financial literacy, and shows that it is, indeed, an important methodological option in the estimation of this latent trait. Furthermore, this enables financial knowledge to be compared through consistent and reliable means, using studies, populations, realities and separate programs.

  9. Financial Literacy at Minority-Serving Institutions

    Science.gov (United States)

    Looney, Shannon M.

    2011-01-01

    Mounting student debt to cover rising college costs is creating a challenging environment for a number of students pursuing a college degree. For many, a college degree is an avenue to financial success and long-term stability. Most college graduates experience more stable employment, higher income, security through assets, and an overall better…

  10. Financial Literacy in Latvia: Defining the Concept and Survey Results

    OpenAIRE

    Lāce, N; Ciemleja, G; Titko, J

    2013-01-01

    One of the priorities of the National Development Plan of Latvia for 2014 – 2020 is citizens’ resilience, which is related to the human economic security. In turn, economic security implies that citizens have predictable and sufficient income. Thus, the issues of the improvement of financial literacy level in Latvia are emphasized at a government level. Despite the questions related financial literacy are frequently debated in the academic literature, there is no consistent approach to unders...

  11. FINANCIAL LITERACY AMONGSTAFRICAN GENERATION YSTUDENTS:ANEMPIRICALANALYSISOF SELECTEDDEMOGRAPIC FACTORS

    Directory of Open Access Journals (Sweden)

    Marko van Deventer

    2017-01-01

    Full Text Available The entire spectrum of society, includingGeneration Y, face the challenge ofmanaging their personalfinances in uncertain economic,financialand politicaltimes. Thischallengehighlights the importance of being equipped with thenecessary financial literacy to make informed financial decisions. Financialilliteracy is a global phenomenon that has become a topical issue. As a result,there has been a steady increase in the body of knowledge that pertains to theimportance and benefits of financial literacy and the consequences offinancialilliteracy.This study investigates differences inthe significantly sizedblackGeneration Y (hereafter referred to as African Generation Ystudent cohort’sfinancial literacy in terms ofselected demographic factors, namely gender, yearand field of study respectively, within the South African context. Following adescriptive research design and a quantitative research approach, data werecollected from a convenience sample of 385 African students registered at twoGauteng based public South African university campuses. Multiple-choicequestions,relatingto general financial knowledge, saving, spending and debt,were used to test the students’ financial literacy. Data analysis includeddescriptive statistics, an independent-samples t-test and one-way analysis ofvariance (ANOVA. The findings suggest thatAfrican Generation Y studentsmaybe categorised as having a relatively low level of financial literacyand that thesample’s financial literacydid not differ much in terms ofgender.The findings ofthis study is likely to inform policymakers, educators, universities and financialinstitutions on the most effective strategies to employ for implementationwithregards to differing financial literacy levels.

  12. The Financial Planning and Financial Literacy of ex-Malaysia Indonesian Migrant Workers

    Directory of Open Access Journals (Sweden)

    Rayenda Khresna Brahmana

    2016-10-01

    Full Text Available Indonesian migrant workers (IMW face life difficulties after returning back to Indonesia. This is a contrary condition considering their contribution to their home family in Indonesia while working abroad. Literature mentions that their financial planning is the root of the poverty of ex-IMW. Therefore, this research adopts literacy theory to explain this phenomenon. This research conducted a survey among 548 ex-IMW and measures their financial literacy and financial planning. This research also maps their asset ownership to examine the relationship between financial literacy and asset ownership. Overall, this research documents that financial literacy contributes statistically significantly and positively to financial planning. Furthermore, this research shows that asset ownership is closely related to financial literacy. In a nutshell, this research concludes that it is important for migrant workers to have good knowledge of financial issues, because having good financial literacy helps the migrant workers to plan their finance and budget much better, thereby helping them to avoid the poverty trap. Therefore, policymakers such as migrant worker authorities and/or Indonesian embassies abroad have to institute financial education programmes for migrant workers before they return to Indonesia.

  13. Financial and Health Literacy Predict Incident Alzheimer's Disease Dementia and Pathology.

    Science.gov (United States)

    Yu, Lei; Wilson, Robert S; Schneider, Julie A; Bennett, David A; Boyle, Patricia A

    2017-01-01

    Domain specific literacy is a multidimensional construct that requires multiple resources including cognitive and non-cognitive factors. We test the hypothesis that domain specific literacy is associated with Alzheimer's disease (AD) dementia and AD pathology after controlling for cognition. Participants were community-based older persons who completed a baseline literacy assessment, underwent annual clinical evaluations for up to 8 years, and agreed to organ donation after death. Financial and health literacy was measured using 32 questions and cognition was measured using 19 tests. Annual diagnosis of AD dementia followed standard criteria. AD pathology was examined postmortem by quantifying plaques and tangles. Cox models examined the association of literacy with incident AD dementia. Performance of model prediction for incident AD dementia was assessed using indices for integrated discrimination improvement and continuous net reclassification improvement. Linear regression models examined the independent association of literacy with AD pathology in autopsied participants. All 805 participants were free of dementia at baseline and 102 (12.7%) developed AD dementia during the follow-up. Lower literacy was associated with higher risk for incident AD dementia (p literacy measure had better predictive performance than the one with demographics and cognition only. Lower literacy also was associated with higher burden of AD pathology after controlling for cognition (β= 0.07, p = 0.035). Literacy predicts incident AD dementia and AD pathology in community-dwelling older persons, and the association is independent of traditional measures of cognition.

  14. The State of Students’ Financial Literacy in Selected Slovak universities and its Relationship with Active Pension Savings

    Directory of Open Access Journals (Sweden)

    Beata Gavurova

    2017-10-01

    Full Text Available The interest in retirement planning is increasingly brought to common people’s attention due to demographic aging of population and better financial literacy level these days. In this study we analyze the level of financial literacy among Slovak university students in relation to further pension decisions and financial behavior overall. The primary aim of this research was to compare the level of financial literacy among the selected faculties of economics in Slovakia. The analytical part was oriented on evaluation of financial behavior of the respondents and their skills in terms of financial literacy concept along with the analysis of the correlative data dependence of the selected variables and their intensity by using the Logit model. At first, the results have shown a statistically significant dependency of financial literacy on the respondents’ gender. Female respondents reached higher financial literacy than male ones. Older students did not achieve higher level of financial literacy as compared to younger students. Students do not look ahead and most of them do not calculate how much they need to save for their retirement. The results of the presented research provide important information for policy makers who should reflect on the present status of this issue in Slovakia.

  15. Personal Financial Literacy among High School Students in New Zealand, Japan and the USA

    Science.gov (United States)

    Cameron, Michael P.; Calderwood, Richard; Cox, Ashleigh; Lim, Steven; Yamaoka, Michio

    2013-01-01

    Personal financial literacy is becoming increasingly important in the modern world, especially for young people. In this article, the authors compare the financial literacy of high school students in Hamilton, New Zealand, with samples from Japan and the USA. The authors compare not only overall financial literacy, but also literacy across five…

  16. The Financial Planning and Financial Literacy of ex-Malaysia Indonesian Migrant Workers

    OpenAIRE

    Rayenda Khresna Brahmana; Ritzky Karina Brahmana

    2016-01-01

    Indonesian migrant workers (IMW) face life difficulties after returning back to Indonesia. This is a contrary condition considering their contribution to their home family in Indonesia while working abroad. Literature mentions that their financial planning is the root of the poverty of ex-IMW. Therefore, this research adopts literacy theory to explain this phenomenon. This research conducted a survey among 548 ex-IMW and measures their financial literacy and financial planning. This resear...

  17. The Economic Importance of Financial Literacy: Theory and Evidence.

    Science.gov (United States)

    Lusardi, Annamaria; Mitchell, Olivia S

    2014-03-01

    This paper undertakes an assessment of a rapidly growing body of economic research on financial literacy. We start with an overview of theoretical research which casts financial knowledge as a form of investment in human capital. Endogenizing financial knowledge has important implications for welfare as well as policies intended to enhance levels of financial knowledge in the larger population. Next, we draw on recent surveys to establish how much (or how little) people know and identify the least financially savvy population subgroups. This is followed by an examination of the impact of financial literacy on economic decision-making in the United States and elsewhere. While the literature is still young, conclusions may be drawn about the effects and consequences of financial illiteracy and what works to remedy these gaps. A final section offers thoughts on what remains to be learned if researchers are to better inform theoretical and empirical models as well as public policy.

  18. Financial Literacy and the Use of Interest-Only Mortgages

    Science.gov (United States)

    Seay, Martin C.; Preece, Gloria L.; Le, Vincent C.

    2017-01-01

    This study explored the relationship between financial literacy and the use of interest-only mortgages using data from the 2009 National Financial Capability Study (NFCS). A series of analyses were conducted to investigate characteristics associated with the use of an interest-only mortgage as a primary mortgage, as compared to fixed-rate mortgage…

  19. The Money Mentors Program: Increasing Financial Literacy in Utah Youths

    Science.gov (United States)

    Garcia, Zurishaddai A.; Francis, Dave; Christensen, Amanda; MacArthur, Stacey S.; Memmott, Margie; Hill, Paul A.

    2017-01-01

    Utah 4-H and Fidelity Investments collaborated on a program for increasing the financial literacy of teens and children. The collaboration resulted in positive impacts for both Extension and Utah youths. Extension benefited through partnership with a corporation that provided content expertise, volunteers, and funding for a financial literacy…

  20. Lessons in Financial Literacy Task Design: Authentic, Imaginable, Useful

    Science.gov (United States)

    Sawatzki, Carly

    2017-01-01

    As part of ongoing design-based research exploring financial literacy teaching and learning, 10 tasks termed "financial dilemmas" were trialled by 14 teachers and more than 300 year 5 and 6 students in four government primary schools in urban Darwin. Drawing on data related to three tasks--"Catching the bus," "Laser…

  1. Financial Resource Allocation in Higher Education

    Science.gov (United States)

    Ušpuriene, Ana; Sakalauskas, Leonidas; Dumskis, Valerijonas

    2017-01-01

    The paper considers a problem of financial resource allocation in a higher education institution. The basic financial management instruments and the multi-stage cost minimization model created are described involving financial instruments to constraints. Both societal and institutional factors that determine the costs of educating students are…

  2. Financial Literacy: Evidence and Perceptions in a Credit Cooperative

    Directory of Open Access Journals (Sweden)

    Marcos Roberto Kühl

    2016-08-01

    Full Text Available This study aims to assess the perception of employees in a Credit Cooperative in what it refers to the importance of financial literacy of its cooperative members, taking into consideration the existing standards in the OECD and the Central Bank of Brazil that deal with the good practice of financial education, in order to verify the importance of financial education of its cooperative members is relevant from the perception of the cooperative's employees. The research is a descriptive study, with data collection through structured questionnaire and data analysis with the use of quantitative methods. The final sample was composed of 87 valid questionnaires, accounting for 68.5% of the population surveyed. The survey type field research was conducted in the second half of 2014. Four constructs from 19 study variables was identified by Exploratory Factor Analysis, called: financial knowledge; risk reduction; financial practice; external visibility, empirically demonstrating the relevance of financial education in a financially driven institution. Considering the average of the four constructs, and most of the variables that make up, it is possible to realize that financial literacy is an issue within the institution from the perception of employees, followed by external visibility. The main contribution of this study was to seek empirical evidence on the importance of financial literacy on the principles and recommendations on good practice of financial education.

  3. UKRAINIAN EXPERIENCE OF ENHANCING SECONDARY SCHOOL PUPILS’ FINANCIAL LITERACY AT MATHEMATICS LESSONS

    Directory of Open Access Journals (Sweden)

    Nataliia VASILIUK

    2017-12-01

    Full Text Available The article covers the role of financial literacy in the country’s economic growth, reveals the essence of the notion and significance of financial literacy, highlights the main results of studies that determine the level of financial literacy of the population of Romania and Ukraine. The main steps to improve the level of financial literacy of the citizens of both countries are listed. The Ukrainian experience of developing financial literacy of high school students during mathematics lessons is underscored. The author suggests the recommendations and certain examples of tasks for raising the level of financial literacy of high school pupils in the process of teaching mathematics.

  4. Financial and health literacy predict incident AD dementia and AD pathology

    Science.gov (United States)

    Yu, Lei; Wilson, Robert S.; Schneider, Julie A.; Bennett, David A.; Boyle, Patricia A.

    2017-01-01

    Background Domain specific literacy is a multidimensional construct that requires multiple resources including cognitive and non-cognitive factors. Objective We test the hypothesis that domain specific literacy is associated with AD dementia and AD pathology after controlling for cognition. Methods Participants were community based older persons who completed a baseline literacy assessment, underwent annual clinical evaluations for up to 8 years and agreed to organ donation after death. Financial and health literacy was measured using 32 questions and cognition was measured using 19 tests. Annual diagnosis of AD dementia followed standard criteria. AD pathology was examined post-mortem by quantifying plaques and tangles. Cox models examined the association of literacy with incident AD dementia. Performance of model prediction for incident AD dementia was assessed using indices for integrated discrimination improvement and continuous net reclassification improvement. Linear regression models examined the independent association of literacy with AD pathology in autopsied participants. Results All 805 participants were free of dementia at baseline and 102 (12.7%) developed AD dementia during the follow-up. Lower literacy was associated with higher risk for incident AD dementia (pliteracy measure had better predictive performance than the one with demographics and cognition only. Lower literacy also was associated with higher burden of AD pathology after controlling for cognition (β=0.07, p=0.035). Conclusion Literacy predicts incident AD dementia and AD pathology in community-dwelling older persons, and the association is independent of traditional measures of cognition. PMID:28157101

  5. [STUDY OF HEALTH LITERACY OF RURAL RESIDENTS OF ALMATY OBLAST (REGION), KAZAKHSTAN: ROLE OF FINANCIAL WELLBEING IN THE FORMATION OF HEALTH LITERACY OF POPULATION].

    Science.gov (United States)

    Baisunova, G; Turdaliyeva, B; Tulebayev, K; Zagulova, D

    2016-10-01

    Aim of the study was to explore the relationships between health literacy (HL) and financial wellbeing in residents of Almaty oblast (region). The survey was conducted among 826 residents of Almaty region aged 18 y.o. Over 56.5% were female residents. To estimate health literacy, self assessed health, financial wellbeing and attitude towards health /work -questionnaire HLS-EU-Q was used. The results confirmed a significant relationship between financial wellbeing, health literacy and health outcomes residents of Almaty region. Relationships between HL and self- assessed health and attitudes towards health /work balance were observed only in respondents with low financial deprivation index, in respondents with low financial wellbeing (high financial deprivation index) no such relationships were observed. Higher financial deprivation index and lower health literacy were observed in respondents for whom work meant more than health. Lower financial deprivation index and higher health literacy were in those respondents for whom health meant more than work. Improvement of HL and motivation for healthy behavior are important challenges for public health. To answer them population's financial wellbeing improvement alone is not enough, as complex change of consumer behavior in healthcare system is needed. HL enhancing in disadvantaged population groups should inform about possibilities of free healthcare services, medications and about the structure of public healthcare service.

  6. Financial Literacy: Evidence and Perceptions in a Credit Cooperative

    OpenAIRE

    Marcos Roberto Kühl; Tatiana Valer; Ivonaldo Brandani Gusmão

    2016-01-01

    This study aims to assess the perception of employees in a Credit Cooperative in what it refers to the importance of financial literacy of its cooperative members, taking into consideration the existing standards in the OECD and the Central Bank of Brazil that deal with the good practice of financial education, in order to verify the importance of financial education of its cooperative members is relevant from the perception of the cooperative's employees. The research is a descriptive study,...

  7. Correlates of health and financial literacy in older adults without dementia

    Directory of Open Access Journals (Sweden)

    Bennett Jarred S

    2012-06-01

    Full Text Available Abstract Background Recent research has begun to recognize the important influence of literacy levels and how they affect health and wellbeing, especially in older adults. Our study focuses on health and financial literacy, two domains of literacy which previous research has suggested may be significantly related to health and wellbeing. Our study examines the relation of health and financial literacy with health promoting behaviors and health status among community-based older persons. Methods We conducted a cross-sectional study using data from the Rush Memory and Aging Project, a community-based cohort study of aging in northeastern Illinois. The study consisted of 556 older persons without dementia, each determined by a clinical evaluation. Health and financial literacy were measured using a series of questions designed to assess the ability to understand and process health and financial information, concepts, and numeracy; the two scores were averaged to yield a total literacy score. Health promoting behaviors, including engagement in cognitive, physical, and social activities, were assessed using self report measures. Indicators of heath status, including cognition (global cognition and five specific cognitive abilities, functional status (basic and instrumental activities of daily living, mobility disability, and mental health (depressive symptoms, loneliness were assessed. Results In a series of regression models adjusted for age, sex, and education, higher total literacy scores were associated with more frequent participation in health promoting behaviors, including cognitive, physical and social activities (all p values Conclusions Health and financial literacy are associated with more frequent engagement in health promoting behaviors and better health status in older persons without dementia.

  8. Does Financial Literacy Moderate the Relationship among Demographic Characteristics and Financial Risk Tolerance? Evidence from Egypt

    Directory of Open Access Journals (Sweden)

    Amir Ali Shusha

    2017-09-01

    Full Text Available Financial risk tolerance is certainly an important topic for researchers, investors and personal financial planners or consultants. This study purposed to investigate the effect of demographic characteristics on financial risk tolerance among Egyptians. A literature review of demographic determinants of financial risk tolerance showed dialectical results. Therefore, this study attempts to clarify the debatable issues in these results by studying the moderating role of financial literacy in relationships among demographic characteristics and financial risk tolerance. The study sample included 386 respondents representing different segments of Egyptian people. Using the hierarchical regression analysis, the results demonstrated that there were significant effects of gender, age, educational level and annual income on financial risk tolerance. Moreover, the financial literacy moderates the relationships among demographic characteristics of individuals and their tendency to take a risk.

  9. Mental health literacy in higher education students.

    Science.gov (United States)

    Reavley, Nicola J; McCann, Terence V; Jorm, Anthony F

    2012-02-01

    With approximately 50% of young people aged 18-24 in tertiary education, these are potential settings for programmes to improve mental health literacy. A survey was carried out with students and staff of a tertiary education institution to investigate recognition of depression, help-seeking intentions, beliefs about interventions and stigmatizing attitudes. Students of an Australian metropolitan university (with staff as a comparison group) participated in a telephone interview. They answered questions relating to mental health literacy. Of the completed interviews, 774 (65%) were students and 422 (35%) were staff. Over 70% of students and staff were able to recognize depression in a vignette, with greater likelihood of recognition in students associated with older age, female gender, being born in Australia and a higher level of education. Over 80% of respondents said they would seek help if they had a problem similar to that of the vignette. However, rates of specific help-seeking intentions for students were relatively low, with only 26% nominating a general practitioner and only 10% nominating a student counsellor. Factors associated with stigmatizing attitudes included male gender, younger age, lower level of education, being born outside Australia and lack of recognition of depression. There is a need for mental health literacy interventions targeted at students, particularly those who are younger, male, born outside Australia and of a lower level of education. As rates of specific help-seeking intentions for students were relatively low, there is a need for further exploration of the barriers to help seeking from professional sources. © 2011 Blackwell Publishing Asia Pty Ltd.

  10. Gender, academic achievement, and ownership of ATM as predictors of accounting students’ financial literacy

    Science.gov (United States)

    Susanti; Hardini, H. T.

    2018-01-01

    This study examined the relationships between GPA, gender, and ownership of ATM on accounting students’ financial literacy (n = 184). Financial literacy was assessed using a paper-and-pencil objective (multiple choice) test measuring general knowledge of finance, income, money management savings, loans, and investment. Gender and GPA data were obtained from the university records. Regression analysis found that GPA and ownership of ATM were associated with financial literacy, but gender was not. Female students with an ownership of ATM and those with a high GPA were found to be superior to males. The implication of this research is that students are expected to increase their GPA and utilize financial facilities in the form of ownership ATM and other financial instruments so as to increase financial literacy. In addition, the need for financial literacy training from related parties to improve financial literacy for students who have low financial literacy.

  11. Financial Literacy, Schooling, and Wealth Accumulation. NBER Working Paper No. 16452

    Science.gov (United States)

    Behrman, Jere R.; Mitchell, Olivia S.; Soo, Cindy; Bravo, David

    2010-01-01

    Financial literacy and schooling attainment have been linked to household wealth accumulation. Yet prior findings may be biased due to noisy measures of financial literacy and schooling, as well as unobserved factors such as ability, intelligence, and motivation that could enhance financial literacy and schooling but also directly affect wealth…

  12. Revisiting Financial (Accounting) Literacy: A Comparison of Audit Committee Members and Business Students

    Science.gov (United States)

    Giacomino, Don E.; Wall, Joseph; Akers, Michael D.

    2009-01-01

    While financial literacy is important for an audit committee in discharging its duties there is no authoritative guidance or definition and limited empirical research as to what constitutes financial literacy of audit committees and business students. Coates et al. conducted a study that examined the financial literacy of corporate board members…

  13. Financial Literacy and Stock Market Participation

    NARCIS (Netherlands)

    van Rooij, M.C.J.; Lusardi, A.; Alessie, R.

    Individuals are increasingly put in charge of their financial security after retirement. Moreover, the supply of complex financial products has increased considerably over the years. However, we still have little or no information about whether individuals have the financial knowledge and skills to

  14. Mortgage risks, debt literacy and financial advice

    NARCIS (Netherlands)

    van Ooijen, Raun; van Rooij, Maarten C.J.

    2016-01-01

    A limited understanding of mortgage contracts and the risks involved may have contributed to the outbreak of the 2007–2008 financial crisis. We developed a special questionnaire relating mortgage loan decisions to financial knowledge and financial advice. Our results demonstrate that homeowners

  15. Financial literacy: an interface between financial information and ...

    African Journals Online (AJOL)

    D.G. Gouws is in the School of Financial Management Sciences, University of Pretoria, and Ms ... connection between the financial numbers and the real business world context. ...... The Origin of Wealth: Evolution, Complexity, and the Radical.

  16. Breast cancer literacy among higher secondary students

    DEFF Research Database (Denmark)

    Bhandari, Parash Mani; Thapa, Kiran; Dhakal, Sarmila

    2016-01-01

    Background: Being the most common cancer among women worldwide, it is vital to be well-aware of breast cancer risk factors, symptoms and curability. However, few studies have reported breast cancer literacy in students using a validated instrument. Methods: A cross-sectional study was conducted...... among students of grades 11 and 12 from eleven higher secondary schools, one selected randomly from each ilaka of Parbat district. Questionnaire with modified Comprehensive Breast Cancer Knowledge Test was self-administered to 516 students. Knowledge score was categorized into two categories: 'good...... knowledge' and 'poor knowledge' taking median score as the cut-off. Chi-square test was used to determine difference in knowledge by socio-demographic factors, including gender. Results: Only 4.8 % of the students responded correctly to at least half of the items, and 1.4 % did not respond correctly to any...

  17. The Effect of Personality Traits on Households' Financial Literacy

    Science.gov (United States)

    Pinjisakikool, Teerapong

    2017-01-01

    This article aims at finding the relationship between households' personality traits and their financial literacy level. The data in this research are from the household survey which can represent the population in Dutch. Using the Big Five personality traits and economic locus of control--extraversion, agreeableness, conscientiousness, emotional…

  18. Pocket Cartoons: Learning Financial Literacy with Mobile Cartoons in Malaysia

    Science.gov (United States)

    Khoo, Yin Yin; Malim, Tanjung; Fitzgerald, Robert

    2017-01-01

    This study examines the impact of using cartoons shared through mobile devices to promote awareness and to aid in the development of financial literacy among Economics students in Malaysia. The study also investigates the use of these "mobile cartoons" to develop students' communication skills. The study involved a quasi-experimental…

  19. Gender Differences in Financial Literacy among Hong Kong Workers

    Science.gov (United States)

    Yu, Kar-Ming; Wu, Alfred M.; Chan, Wai-Sum; Chou, Kee-Lee

    2015-01-01

    Using a phone survey conducted in 2012, we examined whether there is a gender difference in financial literacy among Hong Kong workers; and if such a difference exists, whether it can be explained by gender differences in sociodemographic variables, social or psychological factors, and/or the outcomes of retirement planning. Results show a gender…

  20. Teaching about Personal Finance: The National Standards for Financial Literacy

    Science.gov (United States)

    Hill, Andrew T.; Suiter, Mary C.

    2014-01-01

    In "Proposed National Standards for Financial Literacy: What's In? What's Out?", Maier, Figart, and Nelson pose the question: "How should educators use the standards?" In answering that question, they suggest a number of issues and topics that they believe should be taught along with the "National Standards for…

  1. Financial Literacy in Ontario: Neoliberalism, Pierre Bourdieu and the Citizen

    Science.gov (United States)

    Arthur, Chris

    2011-01-01

    Utilizing concepts from Pierre Bourdieu I argue that the implementation of financial literacy education in Ontario public schools will, if uncontested, support a neoliberal consumer habitus (subjectivity) at the expense of the critical citizen. This internalization of the neoliberal ethos assists state efforts to shift responsibility for…

  2. Using Online Compound Interest Tools to Improve Financial Literacy

    Science.gov (United States)

    Hubbard, Edward; Matthews, Percival; Samek, Anya

    2016-01-01

    The widespread use of personal computing presents the opportunity to design educational materials that can be delivered online, potentially addressing low financial literacy. The authors developed and evaluated three different educational tools focusing on interest compounding. In the authors' laboratory experiment, individuals were randomized to…

  3. Teaching Financial Literacy across the Generations

    Science.gov (United States)

    Jokela, Becky Hagen; Hendrickson, Lori; Haynes, Barbara

    2013-01-01

    This article describes a tool developed by educators of the University of Minnesota Extension and University of Wisconsin Cooperative Extension to assist professionals as they plan financial education for participants. In today's changing economy, financial education is essential throughout one's life cycle. By understanding learner…

  4. The Information Literacy Imperative in Higher Education

    Science.gov (United States)

    Wiebe, Todd J.

    2016-01-01

    This article describes information literacy as a liberal art that draws on a repertoire of critical inquiry skills. At the philosophical level, librarians believe that information literacy is a fundamental part of students' broader skill set that will help them be effective and responsible users and creators of information, both in college and…

  5. Developing Students' Energy Literacy in Higher Education

    Science.gov (United States)

    Cotton, Debby R. E.; Miller, Wendy; Winter, Jennie; Bailey, Ian; Sterling, Stephen

    2015-01-01

    Purpose: This paper aims to investigate students' energy literacy at a UK university, and recommends ways in which it can be enhanced using a behaviour change model. Developing students' energy literacy is a key part of the "greening" agenda, yet little is known about how students develop their ideas about energy use and energy saving at…

  6. Numeracy, Financial Literacy, and Financial Decision-Making

    Directory of Open Access Journals (Sweden)

    Annamaria Lusardi

    2012-01-01

    Full Text Available Financial decisions, be they related to asset building or debt management, require the capacity to do calculations, including some complex ones. But how numerate are individuals, in particular when it comes to calculations related to financial decisions? Studies and surveys implemented in both the United States and in other countries that are described in this paper show the level of numeracy among the population to be very low. Moreover, lack of numeracy is not only widespread but is particularly severe among some demographic groups, such as women, the elderly, and those with low educational attainment. This has potential consequences for individuals and for society as a whole because numeracy is found to be linked to many financial decisions. As we shift responsibility from governments and employers onto individuals, it is increasingly important to find ways to equip people with the skills that are necessary to make savvy financial decisions.

  7. Visual Literacy Practices in Higher Education

    OpenAIRE

    Schellenberg, Julia

    2015-01-01

    Joint Master Degree in Digital Library Learning (DILL) In our media-driven age visuals are increasingly frequent and prominently present in society and their importance and influence across academic disciplines is growing. This makes it essential to enable learners to become visually literate and justifies the need for teaching visual literacy competencies. Yet, there has been little research on visual literacy practices undertaken across academic subjects and institutions in h...

  8. Financial Literacy: A Review of Government Policy and Initiatives

    Directory of Open Access Journals (Sweden)

    Sharon Taylor

    2011-06-01

    Full Text Available Over the last two decades there has been robust discussion by many governments and financial communityleaders generally, that financial security can only be achieved when a country’s population is considered to befinancially literate. Hence individuals need to be financially literate if they are to make informed decisionsabout savings, investments, debt and most importantly when considering retirement issues. No longer canthere be a reliance on social security in retirement due to the ever increasing ageing population and adeclining tax base worldwide.In both Australia and New Zealand, governments have put structures in place as a result of external evidencesuggesting both populations have questionable levels of financial literacy. Both governments have formulatedpolicies and embarked upon initiatives to address this issue. The strategies and structures used, whilst similar,encompassed some unique elements which makes a comparative investigation and discussion interesting.The outcomes of this research paper highlight that even with similar desired outcomes there can be multiplepathways.The rationale for this paper was the lack of any published academic literature in both Australia and NewZealand that reported on the stated government policies and there subsequent initiatives that related to theimprovement of financial literacy. Whilst structures to address government concerns have been put in place,the ability to assess the effectiveness of these initiatives has proven difficult, due to the sparse nature ofpublicly available information and the lack of access to the survey design, development and analysis. It shouldbe noted that this is an exploratory paper primarily to raise questions rather that provide a critical assessmentof either countries policies.While this research paper primarily seeks to describe and review both the policies and strategies implementedby the Australian and New Zealand governments in respect of financial literacy

  9. Teen financial literacy evaluated to develop outreach materials

    OpenAIRE

    Varcoe, Karen; Peterson, Shirley; Go, Charles; Johns, Margaret; René-Fitch, Paula; Powell, Carol; Costello, Connie

    2002-01-01

    Teenagers have access to and spend a great deal of money each year, yet research indicates that their financial literacy is low. Many curricula for teaching money management exist, but we do not know if we are teaching teens what they want to know in a way that they want to learn. This study, conducted by the Money 2000+ for Teens Workgroup of the UC Division of Agriculture and Natural Resources, sought to find out what teens want to know about financial management. Questionnaires were admini...

  10. Framework for Assessing Financial Literacy and Superannuation Investment Choice Decisions

    Directory of Open Access Journals (Sweden)

    Natalie Gallery

    2011-06-01

    Full Text Available There is a worldwide trend towards rapidly growing defined contribution pension funds in terms of assets andmembership, and the choices available to individuals. This has shifted the decisionmaking responsibility tofund members for managing the investment of their retirement savings. This change has given rise to aphenomenon where most superannuation fund members are responsible for either actively choosing orpassively relying on their funds’ default investment options. Prior research identifies that deficiencies infinancial literacy is one of the causes of inertia in financial decision-making and findings from internationaland Australian studies show that financial illiteracy is wide-spread. Given the potential significant economicand social consequences of poor financial decision-making in superannuation matters, this paper proposes aframework by which the various demographic, social and contextual factors that influence fund members’financial literacy and its association with investment choice decisions are explored. Enhanced theoretical andempirical understanding of the factors that are associated with active/passive investment choice decisionswould enable development of well-targeted financial education programs.

  11. Public Libraries in an Age of Financial Complexity: Toward Enhancing Community Financial Literacy

    Science.gov (United States)

    Smith, Catherine Arnott; Eschenfelder, Kristin

    2013-01-01

    This report describes several linked empirical studies that examine the activities of public libraries in increasing the financial literacy of their service population. A qualitative field study examines librarians' perceptions of the challenges in offering information and services in this domain; a second set of interviews centers on the…

  12. Are Low-Income Canadians Financially Literate? Placing Financial Literacy in the Context of Personal and Structural Constraints

    Science.gov (United States)

    Buckland, Jerry

    2010-01-01

    This article argues that financial literacy varies across socioeconomic groups and their neighborhoods, in part because of the adult learning that occurs within a local context. The study begins by explaining that financial literacy needs vary across socioeconomic groups and that there are important structural factors affecting the financial…

  13. 77 FR 3294 - Comment Request for Study Regarding Financial Literacy Among Investors

    Science.gov (United States)

    2012-01-23

    ... Study Regarding Financial Literacy Among Investors AGENCY: Securities and Exchange Commission. ACTION: Request for comment. SUMMARY: In connection with a study regarding financial literacy among investors as...: methods to improve the timing, content, and format of disclosures to investors with respect to financial...

  14. Financial Literacy of Secondary Students, and Its Place within Secondary Schools

    Science.gov (United States)

    Neill, Alex; Berg, Melanie; Stevens, Liesje

    2014-01-01

    This report investigates the behaviour, attitudes and experiences of New Zealand secondary students with money and financial products. It also looks at financial literacy programmes in New Zealand secondary schools and explores barriers to the implementation of financial literacy teaching. The research was commissioned by the Commission for…

  15. The Importance of "Praxis" in Financial Literacy Education: An Indigenous Perspective

    Science.gov (United States)

    Blue, Levon; Grootenboer, Peter; Brimble, Mark

    2015-01-01

    We argue the importance of "praxis" in financial literacy education teaching practices that is, the moral and ethical nature of teaching and learning. Post the global financial crisis of 2008, the teaching of financial literacy has become a priority for many countries. Indigenous communities are often the target of broad FLE strategies…

  16. Attitudes of parents and teachers to financial literacy of primary school students

    OpenAIRE

    Tisovec, Anja

    2017-01-01

    In the master’s thesis, we analysed the attitudes of parents and teachers of mathematics and home economics towards financial education in elementary school. Firstly, we considered the concept of financial literacy, as was defined by different authors, and the importance of formal financial education of young people. We presented the results of the researches on financial literacy that were carried out in Slovenia, and continued with the review of financial education in some countries around ...

  17. Financial Literacy and Credit Card Behaviors: A Cross-Sectional Analysis by Age

    Directory of Open Access Journals (Sweden)

    Sam Allgood

    2013-07-01

    Full Text Available In this study, we use a measure of financial literacy that includes both a test score of actual financial literacy and a self-rating of perceived financial literacy to investigate how financial literacy affects five credit card behaviors: (1 always paying a credit card balance in full; (2 carrying over a credit card balance and being charged interest; (3 making only a minimum payment on a credit card balance; (4 being charged a fee for a late payment; and (5 being charged a fee for exceeding a credit limit. Probit analysis was used to assess each behavior with a large nationally representative sample of U.S. adults (N = 28,146 divided into groups to reflect the five major decades in the adult life cycle (18–29; 30–39; 40–49; 50–59; and 60–69 and older. Perceived financial literacy was found to be a stronger predictor of less costly practices in credit card use than actual financial literacy for the five credit card behaviors and across each of the five age groups. The study also shows that the combination of the subjective assessment with the objective assessment of financial literacy provides a more comprehensive analysis of how financial literacy affects each credit card behavior. This combined approach to assessment produced the largest estimates of the effects of financial literacy on credit card behavior. The findings hold across the five credit card behaviors and the five age groups.

  18. Simultaneous Use of the Financial Literacy Level and the Financial Inclusion Degree as a Result of Financial Education Efficiency in Visegrad Group Countries

    Directory of Open Access Journals (Sweden)

    Bożena Frączek

    2017-02-01

    Full Text Available The appropriate level of financial knowledge and the degree of financial integration needed in today's financialized world. This paper studies the level of financial literacy and the degree of financial inclusion among the students who study economic fields. These students are a special target group - very important for future development of financial markets. They are not only the future participants, but also the potential animators and creators of the financial market as well as the future financial advisors. The research sample comes from Visegrad Group countries (4V Countries, as the representatives from Central and Eastern Europe countries, where the level of financial literacy and degree of financial inclusion seems to be lower in comparison to the West European Countries. The research also contributes to knowledge in the area of expanding the methods of assessments of efficiency of financial education. The Authors decided to verify the new assessment of effectiveness of financial education. It will be conducted by a separate and simultaneous assessment of financial literacy and financial inclusion. The main results of research confirm the very low level of financial literacy and financial inclusion of young future economists in 4V Countries in both groups: starting and finishing the professional financial education. In addition, examining the degree of financial inclusion among the students who at the same time are educated at the basic level confirms the much lower level of informed financial inclusion.

  19. Credit Card Usage among Older Adults: Assessing Financial Literacy and Pressures

    Science.gov (United States)

    St. Pierre, Eileen; Shreffler, Karina

    2013-01-01

    The research reported here assessed the financial literacy of older adults living in rural communities, current use of and attitudes towards debt, and debt pressures. Those surveyed exhibit low credit card usage and responsible payment practices. Most never use credit to pay medical expenses. Respondents display a financial literacy level similar…

  20. Boosting Financial Literacy in America: A Role for State Colleges and Universities. Perspectives

    Science.gov (United States)

    Harnisch, Thomas L.

    2010-01-01

    Given the overarching ramifications that financial literacy plays in the modern economy, this paper contends that a renewed emphasis on financial literacy is central to individual, family and communal economic security. New responsibilities and opportunities given to consumers, such as retirement planning, have increased the need for more…

  1. A Phenomenological Study to Discover Low-Income Adults' Perceptions and Expectations Regarding Financial Literacy

    Science.gov (United States)

    Schaffer, Brigid Ann

    2013-01-01

    This phenomenological study explored the perceptions and expectations of low income adults regarding financial literacy to discover ways to increase attendance in financial literacy programs designs for this cohort. The study utilized interviews with closed-ended questions to establish the participants' backgrounds, then opened-ended questions to…

  2. A Comparison of Financial Literacy between Native and Immigrant School Students

    Science.gov (United States)

    Grama?ki, Iulian

    2017-01-01

    This paper investigates the gap in Financial Literacy (FL) between native and immigrant 15-year-old school students using data from the 2012 PISA Financial Literacy Assessment. The size of the gap is about 0.15 standard deviations, going up to 0.3 for first-generation immigrants. This is partly because immigrants have poorer economic background,…

  3. The Effect of Family Economic Education towards Lifestyle Mediated By Financial Literacy

    Directory of Open Access Journals (Sweden)

    Berta Dian Theodora

    2016-06-01

    Full Text Available This research aims to know the student’s lifestyle whether it is influenced by education that has been accepted in family or their financial literacy. Samples were 334 out of 2040 students of Indraprasta PGRI University, Jakarta. Technique of data analysis used path analysis. Findings show that 60.78% of students are in the middle category for economic education in family, 47% of students are in the high category for financial literacy and 58% of students have a high lifestyle. Economic education influences the lifestyle by 6.4% and financial literacy affects on lifestyle by 3.7%. The influence of family education through financial literacy toward lifestyle is 1.9%. Therefore, it can be concluded that financial literacy does not increase the influence of education Economy in family to lifestyle. Then, the results of the research will be used as one of the reference in the application of entrepreneurship lectures.

  4. Determining Advanced and Basic Financial Literacy Relations and Overconfidence, and Informative Social Media Association of University Students in Turkey

    Science.gov (United States)

    Karaa, Ibrahim E.; Kugu, Tayfun D.

    2016-01-01

    The purposes of the paper are, first, to investigate financial literacy in university students and to determine the relationship between basic and advanced financial literacy; second, to present a positive association between social media usage and financial literacy; third, to examine demographic factors consistent with previous studies; and,…

  5. Finance-Informed Citizens, Citizen-Informed Finance: An Essay Occasioned by the International Handbook of Financial Literacy

    Science.gov (United States)

    Willis, Lauren E.

    2017-01-01

    Purpose: Throughout the world, the dominant discourse treats "financial literacy" as both necessary and sufficient to improve the well-being of individuals and society. Findings: This essay argues that financial literacy is neither, and that promoting financial literacy is a perverse way to address the inadequate retirement funding,…

  6. What Explains the Gender Gap in Financial Literacy? The Role of Household Decision Making.

    Science.gov (United States)

    Fonseca, Raquel; Mullen, Kathleen J; Zamarro, Gema; Zissimopoulos, Julie

    2012-01-01

    Using newly collected data from the RAND American Life Panel, we examine potential explanations for the gender gap in financial literacy, including the role of marriage and who within a couple makes the financial decisions. Blinder-Oaxaca decomposition reveals the majority of the gender gap in financial literacy is not explained by differences in the characteristics of men and women-but rather differences in coefficients, or how literacy is produced. We find that financial decision making of couples is not centralized in one spouse although it is sensitive to the relative education level of spouses.

  7. Financial Literacy and Mutual Fund Investments : Who Buys Actively Managed Funds?

    OpenAIRE

    Müller, Sebastian; Weber, Martin

    2008-01-01

    Previous research indicates that lacking financial sophistication among private investors might be important in explaining the strong growth in active management over the past. Based on questionnaire data with more than 3,000 mutual fund customers, we therefore construct an objective financial literacy score and analyze the relationship between financial literacy and mutual fund investment behavior. While sophisticated investors are indeed more aware of passive, low cost fund alternatives lik...

  8. Islamic Financial Literacy and Personal Financial Planning: A Socio-Demographic Study

    Directory of Open Access Journals (Sweden)

    Arum Setyowati

    2018-02-01

    Full Text Available This study aims to measure the level of Islamic Financial Literacy (IFL in Solo society and to test the effect of IFL on personal financial planning. The sociodemographic variables such as age, gender, marital status, education level, and income are being used as the control variable. 313 respondents are involved in this research directly through survey method and Ordinary Least Square (OLS is used to analyze the obtained research data. The study uses purposive sampling method and limiting the education level and income of research respondents. Study questionnaire consists of 20 multiple choice questions to measure respondent IFL and 13 questions to measure respondent personal financial planning. The results showed that: (1 the level of IFL in Solo reach 64.66 percent; (2 people with a good level of IFL tends to have better management in their personal finances, and (3 people with a good level of IFL tend to prefer investing in Islamic asset. Last, this paper will contribute to the scientific development of behavioral finance and financial inclusion which had been highly discussed in the financial literature. This study also became an early research in examining the influence of IFL on personal financial planning.

  9. Islamic Financial Literacy and Personal Financial Planning: A Socio-Demographic Study

    Directory of Open Access Journals (Sweden)

    Arum Setyowati

    2018-02-01

    Full Text Available This study aims to measure the level of Islamic Financial Literacy (IFL in Solo society and to test the effect of IFL on personal financial planning. The socio-demographic variables such as age, gender, marital status, education level, and income are being used as the control variable. 313 respondents are involved in this research directly through survey method and Ordinary Least Square (OLS is used to analyze the obtained research data. The study uses purposive sampling method and limiting the education level and income of research respondents. Study questionnaire consists of 20 multiple choice questions to measure respondent IFL and 13 questions to measure respondent personal financial planning. The results showed that: (1 the level of IFL in Solo reach 64.66 percent; (2 people with a good level of IFL tends to have better management in their personal finances; and (3 people with a good level of IFL tends to prefer investing on Islamic asset. Last, this paper will contribute to the scientific development of behavioral finance and financial inclusion which had been highly discussed in the financial literature. This study also became an early research in examining the influence of IFL on personal financial planning.

  10. Estimation of Influence of the Level of Financial Literacy on the Investment Attractiveness of the Territory

    Directory of Open Access Journals (Sweden)

    Ekaterina Yuryevna Sushko

    2016-03-01

    Full Text Available The article presents a regression model that reflects rational financial behavior of households and allowing to reveal regions with low/high level of financial literacy, which is one of the indicators of financial sector development. Model construction is based on a regression of financial literacy surveys data and a statistical panel data concerning socio-economic situation of 38 Volgograd region’s municipalities during three-year period. The author shows that the level of financial literacy (which used as an indicator of the situation in the financial sector of a particular municipality is not unpredictable. This level depends on objective factors: the level of demographic and social burden on the state and municipalities, the income growth of municipal budgets, the number of financial institutions, material wealth of the population, its business activity, readiness to self-help housing and interest in increasing their knowledge. Therefore, the level of financial literacy can be predicted and even adjusted by the authorities and business representatives using credit, finance, social policy, etc. Financial literacy level is useful for investment attractiveness assessment. In the given paper a ranking of territories’ attractiveness is constructed on the basis of regression model. It is created to help in developing of effective management decisions by business (opening of new branches, launching new financial products and services, etc. and by regional/municipal authorities (whose aim is to improve the quality of life and the level of financial welfare.

  11. Resilience and Redirection: Information Literacy in Louisiana Higher Education

    Science.gov (United States)

    Hutchings, Jessica; Willey, Malia

    2014-01-01

    This article reports on a 2012 survey conducted by members of the Louisiana Academic Library and Information Network Consortium (LALINC) to determine the status of the curricular integration of information literacy instruction following numerous budget cuts to Louisiana higher education since 2008. The article also discusses the 2012 deletion of…

  12. The Solution to the Financial Literacy Problem: What is the Answer?

    Directory of Open Access Journals (Sweden)

    Sharon M. Taylor

    2013-09-01

    Full Text Available Over the last two decades the need for a financially literate population has grown in importance. Hence in Australia, it is imperative that individuals possess both the financial knowledge and capability to make sound financial decisions. In contrast, the results of the Australian & New Zealand Bank (ANZ surveys from 2003 to 2010 have demonstrated that there is a substantial deficiency in the level of financial literacy amongst many of the Australian population. Both the government and the private sector have encouraged the development of financial education programs as an important tool in remedying the detected low levels of financial literacy as reported in the ANZ research. The Australian Security and Investment Commission (ASIC, the government regulator, has strongly promoted the need to develop confident and informed consumers and investors through the provision of quality financial education. ASIC’s focus was reiterated in its Report 229, the National Financial Literacy Strategy. This report which was announced in March 2011 set out the strategy for the development and delivery of initiatives to improve financial literacy levels in Australia (ASIC 2011. In particular, the National Strategy has been developed to improve the level of financial literacy among Australian students. The focus is on incorporating financial education through the existing school curriculum, beginning in kindergarten through to year 12 students. The aim of this research paper is to challenge and ask questions relating to the Australian Government’s financial literacy strategy directed at schools. This direction would appear to have limited support of success, given the evidence published in the USA, and to a limited extent in the United Kingdom and Europe. This study reviews the current evidence available in both Australia and the USA in relation to financial literacy projects in schools. In respect of the international experience this paper explores the

  13. When it Comes to Financial Literacy, is Gender Really an Issue?

    Directory of Open Access Journals (Sweden)

    Suzanne P. Wagland

    2009-03-01

    Full Text Available In Australia the introduction of compulsory superannuation has resulted in the financial services industryflourishing and the introduction of numerous new products and services. As a result financial education iscritically important to differentiate the extensive range of providers, products and services as means to achievefinancial security. Several research papers published since 2000 have attempted to measure the level offinancial literacy in today’s society. Some of these studies have suggested that gender is a significant variableimpacting on the level of financial literacy. However, to date no such evidence relating to gender differenceand its impact on the level of financial literacy is available in Australia. The purpose of this pilot study was toexplore the validity of the research outcomes of Chen and Volpe (2002 in an Australian context. To this endthe study concentrates on determining the level of financial literacy among Australian undergraduate businessstudents at the University of Western Sydney (UWS.

  14. Financial Literacy of 15-Year-Olds: Results from PISA 2015. Data Point. NCES 2017-086

    Science.gov (United States)

    Gonzales, Patrick; Sen, Anindita

    2017-01-01

    On May 24, the National Center for Education Statistics released Financial Literacy of 15-year-olds: Results from PISA 2015. The PISA assessment of financial literacy measured students' knowledge and understanding of fundamental elements of the financial world, including financial concepts, products, and risks, and their ability to apply what they…

  15. Exploring the Classroom Practices That May Enable a Compassionate Approach to Financial Literacy Education

    Science.gov (United States)

    Blue, Levon Ellen; O'Brien, Mia; Makar, Katie

    2018-01-01

    From an early age, children are faced with financial dilemmas and are expected to make effective financial decisions about money. In this paper, we explore the classroom practices that may enable a compassionate approach to financial literacy education. We observed an inquiry-based mathematics lesson in a Year 4 primary school classroom. The…

  16. Towards a Framework for Financial Literacy in the Context of Democracy

    Science.gov (United States)

    Davies, Peter

    2015-01-01

    This paper contrasts the prevailing individualistic approach of financial literacy measurement and financial education with an educational framework that seeks to equip young people to play an active democratic role and to develop a broader understanding of the financial world. In particular, the framework suggests how important dimensions of…

  17. Comparing the Financial Literacy of Public School, Christian School, and Homeschooled Students

    Science.gov (United States)

    Wright, Tricia

    2016-01-01

    The 2008 recession underscored public concern that financial illiteracy has costs that are not limited to the individual who makes poor financial decisions. Considering that college students with limited financial experience are making legally binding decisions, this study explored the personal finance literacy and behavior of Christian college…

  18. On the Money: High School Mathematics Activities to Build Financial Literacy

    Science.gov (United States)

    Peters, Susan A.; Bay-Williams, Jennifer M.; Martinie, Sherri L.

    2016-01-01

    As high school students make more and more important decisions, their need for financial literacy increases significantly. To succeed in life, they need both an understanding of financial issues and the math skills to make financially sound choices. With all the requirements and standards to be met in high schools today, how can teachers find room…

  19. On the Money: Math Activities to Build Financial Literacy, Grades 6-8

    Science.gov (United States)

    Bay-Williams, Jennifer M.; Bush, Sarah B.; Peters, Susan A.; McGatha, Maggie B.

    2015-01-01

    To succeed in college, career, and life, students need to become financially literate. But understanding the basics of a long-term investment or a short-term loan is not enough without the math skills to make financially sound choices. In the already full curriculum of middle schools today, how can teachers find room to include financial literacy?…

  20. Promoting Access to Finance by Empowering Consumers--Financial Literacy in Developing Countries

    Science.gov (United States)

    Kefela, Ghirmai T.

    2010-01-01

    This paper is an effort to establish the financial sector in developing countries to promote financial literacy of their customers. This could have access to finance and savings, which in turn support livelihoods, economic growth, sound financial systems, and participate in the economy. The main objectives of this paper is to enhance a bank's…

  1. A Review of Financial-Literacy Education Programs for Children and Adolescents

    Science.gov (United States)

    Amagir, Aisa; Groot, Wim; Maassen van den Brink, Henriëtte; Wilschut, Arie

    2018-01-01

    In this systematic literature review, we evaluate the effectiveness of financial-literacy education programs and interventions for children and adolescents. Furthermore, the key characteristics of the design of a successful financial-education curriculum are described. The evidence shows that school-based financial-education programs can improve…

  2. Understanding Financial Literacy and Competence: Considerations for Training, Collaboration, and Referral for MFTs

    Directory of Open Access Journals (Sweden)

    Bryce L. Jorgensen

    2014-08-01

    Full Text Available Developing clinical competencies is a foundational feature for most mental health disciplines. Evidence suggests that many couples attending marital therapy regularly report that financial concerns are a significant contributor to their collective distress. Despite the reports of financial distress being a common occurrence, many practitioners are unfamiliar with available resources to remediate the problem. The authors address the concepts of practitioner competence in financial literacy, client financial problems, the benefits of financial literacy, and suggest a referral process, grounded in ethical decision making, that provides appropriate treatment considerations to clients experiencing such distress. The Referral for Financial Concerns Questionnaire (RFCQ and the Personal & Relationship Financial Assessment Tool (PREFAT are introduced. Finally, the authors provide suggestions for professional collaboration between mental health practitioners, financial planners, and financial counselors.

  3. Development of a financial literacy course for patients with newly diagnosed cancer.

    Science.gov (United States)

    Shankaran, Veena; Linden, Hannah; Steelquist, Jordan; Watabayashi, Kate; Kreizenbeck, Karma; Leahy, Tony; Overstreet, Karen

    2017-03-01

    Although patients with cancer often face serious financial hardships, few studies have reported on strategies to mitigate this burden. Improving literacy about the financial aspects of cancer care may decrease the negative financial impact of cancer diagnosis and treatment. We obtained input from patient stakeholders on the perceived value and optimal design of a financial literacy program in the advanced cancer setting. Prospective cohort survey.  A series of semi-structured interviews were conducted, during which patients with either colorectal or breast cancer were asked to describe the impact of cancer on their finances and employment, to state their preferences about discussing costs with their providers, and to give input on development of a financial literacy course. Twenty-one patients (76% Caucasian) completed interviews, the majority of whom had Medicare or commercial insurance (71%). Lost income from early retirement or disability was the most financially burdensome experience for 67% of patients. The majority of patients (76%) reported that a financial literacy course would be helpful in navigating the cost of cancer care. Most preferred the course be administered at diagnosis in a live group format. Feedback from patients with cancer supported the development of a group financial literacy course that addresses barriers to discussing cost concerns, employment changes during cancer, and available resources for financial assistance.

  4. Financial literacy is associated with medial brain region functional connectivity in old age.

    Science.gov (United States)

    Han, S Duke; Boyle, Patricia A; Yu, Lei; Fleischman, Debra A; Arfanakis, Konstantinos; Leurgans, Sue; Bennett, David A

    2014-01-01

    Financial literacy refers to the ability to access and utilize financial information in ways that promote better outcomes. In old age, financial literacy has been associated with a wide range of positive characteristics; however, the neural correlates remain unclear. Recent work has suggested greater co-activity between anterior-posterior medial brain regions is associated with better brain functioning. We hypothesized financial literacy would be associated with this pattern. We assessed whole-brain functional connectivity to a posterior cingulate cortex (PCC) seed region of interest (ROI) in 138 participants of the Rush Memory and Aging Project. Results revealed financial literacy was associated with greater functional connectivity between the PCC and three regions: the right ventromedial prefrontal cortex (vmPFC), the left postcentral gyrus, and the right precuneus. Results also revealed financial literacy was associated negatively with functional connectivity between the PCC and left caudate. Post hoc analyses showed the PCC-vmPFC relationship accounted for the most variance in a regression model adjusted for all four significant functional connectivity relationships, demographic factors, and global cognition. These findings provide information on the neural mechanisms associated with financial literacy in old age. Copyright © 2014 Elsevier Ireland Ltd. All rights reserved.

  5. Financial Literacy of 15-Year-Olds: Results from PISA 2012. Data Point. NCES 2014-102

    Science.gov (United States)

    Gonzales, Patrick; Kelly, Dana

    2014-01-01

    This Data Point uses data from the 2012 administration of the Program for International Student Assessment (PISA) financial literacy assessment. PISA is an international assessment that measures 15-year-old students' reading, mathematics, and science literacy and, in 2012, general problem solving and financial literacy. PISA is coordinated by the…

  6. Identifying Self-Efficacy and Financial Behaviors as Predictors of Undergraduate College Students' Financial Literacy at a Land Grant University in North Carolina

    Science.gov (United States)

    Hucul, Donna T.

    2015-01-01

    Financial literacy has become a serious concern in the wake of the Great Recession of 2008. This study explored the financial literacy of undergraduate college students, who as a group constitute a distinct cohort of learners, emerging adults. The college student population represents a financially at-risk group facing mounting student loan debt.…

  7. Cognitive decline impairs financial and health literacy among community-based older persons without dementia.

    Science.gov (United States)

    Boyle, Patricia A; Yu, Lei; Wilson, Robert S; Segawa, Eisuke; Buchman, Aron S; Bennett, David A

    2013-09-01

    Literacy is an important determinant of health and well-being across the life span but is critical in aging, when many influential health and financial decisions are made. Prior studies suggest that older persons exhibit lower literacy than younger persons, particularly in the domains of financial and health literacy, but the reasons why remain unknown. The objectives of this study were to: (a) examine pathways linking diverse resources (i.e., education, word knowledge, cognitive function, and decision making style) to health and financial literacy among older persons and determine the extent to which the relation of age with literacy represents a direct effect versus an indirect effect due to decrements in specific cognitive functions (i.e., executive functions and episodic memory); and (b) test the hypothesis that declines in executive function and episodic memory are associated with lower literacy among older persons without dementia. Six-hundred and forty-five community-based older persons without dementia underwent detailed assessments of diverse resources, including education, word knowledge, cognitive function (i.e., executive function, episodic memory) and decision making style (i.e., risk aversion), and completed a measure of literacy that included items similar to those used in the Health and Retirement Study, such as numeracy, financial concepts such as compound inflation and knowledge of stocks and bonds, and important health concepts such as understanding of drug risk and Medicare Part D. Path analysis revealed a strong effect of age on literacy, with about half of the effect of age on literacy due to decrements in executive functions and episodic memory. In addition, executive function had an indirect effect on literacy via decision making style (i.e., risk aversion), and education and word knowledge had independent effects on literacy. Finally, among (n = 447) persons with repeated cognitive assessments available for up to 14 years, regression

  8. Tanzania Diagnostic Review of Consumer Protection and Financial Literacy : Volume 1. Key Findings and Recommendations

    OpenAIRE

    World Bank Group

    2013-01-01

    In 2011, only 17.3 percemt of adults in Tanzania had an account at a formal financial institution and 56 percemt did not have any access to financial services. Most of the population lives in rural areas with very low incomes and poor infrastructure, and women are especially disadvantaged. Such limited access to formal financial services also inhibits financial literacy – awareness of bene...

  9. Tanzania Diagnostic Review of Consumer Protection and Financial Literacy : Volume 2. Comparison with Good Practices

    OpenAIRE

    World Bank Group

    2013-01-01

    In 2011, only 17.3 percemt of adults in Tanzania had an account at a formal financial institution and 56 percemt did not have any access to financial services. Most of the population lives in rural areas with very low incomes and poor infrastructure, and women are especially disadvantaged. Such limited access to formal financial services also inhibits financial literacy – awareness of bene...

  10. A Learning Game for Youth Financial Literacy Education in the Teen Grid of Second Life Three-Dimensional Virtual Environment

    Science.gov (United States)

    Liu, Chang; Franklin, Teresa; Shelor, Roger; Ozercan, Sertac; Reuter, Jarrod; Ye, En; Moriarty, Scott

    2011-01-01

    Game-like three-dimensional (3D) virtual worlds have become popular venues for youth to explore and interact with friends. To bring vital financial literacy education to them in places they frequent, a multi-disciplinary team of computer scientists, educators, and financial experts developed a youth-oriented financial literacy education game in…

  11. A review of financial-literacy education programs for children and adolescents

    NARCIS (Netherlands)

    Amagir, Aisa; Groot, Wim; Maassen van den Brink, Henriëtte; Wilschut, Arie

    In this systematic literature review, we evaluate the effectiveness of financial-literacy education programs and interventions for children and adolescents. Furthermore, the key characteristics of the design of a successful financial-education curriculum are described. The evidence shows that

  12. Show Me the Money Resources: Financial Literacy for 21st-Century Learners

    Science.gov (United States)

    Gavigan, Karen

    2010-01-01

    Some economists have called the current U.S. economic environment the worst financial crisis since the Great Depression. Many educators and parents believe it is more important than ever for students to master financial literacy skills. To become successful and responsible 21st century citizens, students need to graduate globally competitive for…

  13. Insights from a Financial Literacy Task Designer: The Curious Case of Problem Context

    Science.gov (United States)

    Sawatzki, Carly

    2016-01-01

    As part of ongoing design-based research exploring financial literacy teaching and learning, ten tasks termed "financial dilemmas" were trialled by 14 teachers and more than 300 Year 5 and 6 students in 4 government primary schools in urban Darwin. Drawing on data related to two tasks--"Catching the bus" and "Buying…

  14. Student Teachers' Capacity and Willingness to Teach Financial Literacy in Flanders

    Science.gov (United States)

    De Moor, Lieven; Verschetze, Lindsey

    2017-01-01

    The purpose of this article is to assess the student teachers' capacity and willingness to teach financial literacy in Flanders via on-site paper surveys of 368 final-year teacher education students. We argue that the Flemish teacher education program needs to be revised to introduce financial education in secondary schools. We find that revisions…

  15. The association between financial literacy and Problematic Internet Shopping in a multinational sample.

    Science.gov (United States)

    Lam, Lawrence T; Lam, Mary K

    2017-12-01

    To examine the association between financial literacy and Problematic Internet Shopping in adults. This cross-sectional online survey recruited participants, aged between 18 and 60 years, through an online research facility. The sample consisted of multinational participants from mainly three continents including Europe, North America, and Asia. Problematic Internet Shopping was assessed using the Bergen Shopping Addiction Scale (BSAS). Financial Literacy was measured by the Financial Literacy subscale of the Financial Wellbeing Questionnaire. Multiple linear regression analyses were conducted to elucidate the relationship between the study and outcome variables with adjustment for other potential risk factors. Of the total of 997 respondents with an average age of 30.9 (s.d. = 8.8), 135 (13.8%) could be classified as having a high risk of being Problematic Internet Shoppers. Results from the multiple regression analyses suggested a significant and negative relationship between financial literacy and Problematic Internet Shopping with a regression coefficient of - 0.13, after controlling for the effects of potential risk factors such as age, region of birth, employment, income, shopping frequency, self-regulation and anxiety (t = - 6.42, p counselling as a component of the treatment regime. Enhancement of financial literacy in the general population, particularly among young people, will likely have a positive effect on the occurrence of PIS.

  16. The Struggles of Financial Aid for Higher Education in Brazil

    Science.gov (United States)

    Kussuda, Cintia

    2016-01-01

    This paper examines the higher education system in Brazil and one of the financial aid policies that the government has established. It seeks to find whether the Fundo de Financiamento ao Estudante do Ensino Superior (FIES), Financing of Higher Education Student, a financial aid program established by the Brazilian government in 1999, addresses…

  17. Exploring the classroom practices that may enable a compassionate approach to financial literacy education

    Science.gov (United States)

    Blue, Levon Ellen; O'Brien, Mia; Makar, Katie

    2018-06-01

    From an early age, children are faced with financial dilemmas and are expected to make effective financial decisions about money. In this paper, we explore the classroom practices that may enable a compassionate approach to financial literacy education. We observed an inquiry-based mathematics lesson in a Year 4 primary school classroom. The financial maths task asked students to decide on the best fundraising option for the school. We used the theory of practice architectures to analyse the interactions in the classroom in order to understand what may have enabled and constrained classroom practices. We found that classroom practices such as engaging with peers through positive and collaborative learning opportunities, making ethical, social and mathematical connections of the task, and considering the impact of financial decisions on others may enable a compassionate approach to financial literacy education.

  18. Exploring the classroom practices that may enable a compassionate approach to financial literacy education

    Science.gov (United States)

    Blue, Levon Ellen; O'Brien, Mia; Makar, Katie

    2017-08-01

    From an early age, children are faced with financial dilemmas and are expected to make effective financial decisions about money. In this paper, we explore the classroom practices that may enable a compassionate approach to financial literacy education. We observed an inquiry-based mathematics lesson in a Year 4 primary school classroom. The financial maths task asked students to decide on the best fundraising option for the school. We used the theory of practice architectures to analyse the interactions in the classroom in order to understand what may have enabled and constrained classroom practices. We found that classroom practices such as engaging with peers through positive and collaborative learning opportunities, making ethical, social and mathematical connections of the task, and considering the impact of financial decisions on others may enable a compassionate approach to financial literacy education.

  19. Inclusive Financial Literacy Education for Inspiring a Critical Financial Consciousness: An Experiment in Partnership with Marginalised Youth

    Science.gov (United States)

    Visano, Brenda Spotton; Ek-Udofia, Imo

    2017-01-01

    In the absence of critical inquiry, traditional financial literacy education risks socialising economically marginalised groups into an acceptance of the very power structures that created their marginalisation in the first place. The instructor-facilitator seeking to confront the challenge of promoting critical thinking about a subject widely…

  20. The Perceptions of Twelfth-Grade Students on Financial Literacy

    Science.gov (United States)

    Harrelson, Joseph Christopher

    2010-01-01

    The problem of financial illiteracy at the high school level is becoming a growing pandemic in America. The current financial curriculum may not be preparing high school students against reported financial pitfalls. At the study site, high school students graduate without financial skills that may impact their future financial status. The purpose…

  1. Informational literacy in higher education: design of a mensuration tool

    Directory of Open Access Journals (Sweden)

    María del Carmen Toledo Sánchez

    2015-11-01

    Full Text Available Objective. To show psychometric research phase to examine the validity of an instrument designed to measure information literacy in the Institutions of higher education in Mexico. Method. The questionnaire design of 50 items was based on the UNESCO standards of information and communication technologies (ICT competencies for teachers and skills standards for access and use of information in higher education. The methodological strategy contemplated verification of content validity, item-item correlation and construct through factorial analysis. The sample was 73 professors and librarians who work in educational institutions of northwestern Mexico. Results. The final design was reduced to 44 items, and it demonstrated the items evaluate the same construct in their internal structure, and revealed 5 dimensions for informational variable competencies and 5 competencies for ICT. Conclusions. The items have good clarity regarding the specific concept, nevertheless, the elimination of 6 items was needed proving to be a valid and reliable instrument to measure the informational literacy in the studied context.

  2. Associations of APOE ε4 With Health and Financial Literacy Among Community-Based Older Adults Without Dementia.

    Science.gov (United States)

    Stewart, Christopher C; Boyle, Patricia A; James, Bryan D; Yu, Lei; Han, S Duke; Bennett, David A

    2016-05-12

    Older adults often exhibit low health and financial literacy, but the reasons why remain unclear. One possibility is that those older adults at high risk for developing dementia demonstrate low literacy even in the absence of marked cognitive impairment. We therefore examined associations of health and financial literacy with the APOE ε4 allele, the chief genetic risk factor for Alzheimer's disease, among older adults without dementia. Participants were 487 older adults without dementia enrolled in the Rush Memory and Aging Project (mean age = 83, mean years of education = 15, 77% female, 91% non-Hispanic White). Participants underwent APOE genotyping and assessments of cognition, health literacy, and financial literacy. Health and financial literacy scores were also averaged into a total literacy score. ε4 was associated with lower total and health literacy, with a trend toward an association with lower financial literacy, after adjustment for age, sex, and education. Associations of ε4 with lower total and health literacy persisted after further adjustment for global cognitive function and 5 specific cognitive domains. ε4 affects literacy even in the absence of clinical dementia and does so relatively independent of performance on traditional cognitive tests. © The Author 2016. Published by Oxford University Press on behalf of The Gerontological Society of America. All rights reserved. For permissions, please e-mail: journals.permissions@oup.com.

  3. Financial Literacy Assessment of Domestic and Foreign Young Learners and Recommendations for its Enhancement

    Directory of Open Access Journals (Sweden)

    Svetlana S.

    2018-03-01

    Full Text Available Introduction: the article considers the factors that determine the financial education of young people. Modern young men and women have a low financial literacy, despite the efforts for improving financial competence. This situation may threaten their personal and public financial security. The article proposes a new methodology for the theoretical and practical training of the young generation in making well-balanced and informed financial decisions. Materials and Methods: the domestic and international scientific literature on financial education has highlighted several approaches to the problem. The analysis of methods with comparison of domestic and foreign pedagogic theory and practice was made in the paper. The tests and questionnaires were developed by the authors to assess the financial literacy of students and schoolchildren. Results: insufficient level of financial competence of young people is revealed. The structure of the new curriculum on obtaining financial knowledge by high school students and university students is presented. Recommendations on the use of tests to assess the level of financial competence of young people are proposed. The study results were verified in high schools and at the University. The new methodology demonstrated its effectiveness. Discussions and Conclusions: modern educational programmes should comply with and meet the challenges of a current dynamically evolving society. The modern changing world pays more attention to financial aspects of human activities. The practical importance of the study lies in the use of new intellectual approaches to teaching financial competence in high schools and universities. The proposed recommendations on the organisation of financial education for the young people in Russia contribute to the formation of financial literacy and skills of students and seniour schoolchildren. The results of the research can be useful to specialists in the field of education and the

  4. Financial Issues Experienced by Students in Private Higher Education Institutions

    Science.gov (United States)

    Alkandari, Nabila Y.

    2014-01-01

    The study was conducted in order to understand the way in which the financial status of students in Kuwait is affected as a result of enrolling in private higher education institutions. The aim is to analyze whether they face financial issues upon the time of payment and how these issues can be resolved. The analysis was done on a sample of 1280…

  5. Approaches to the development of cognitive process dimensions in financial literacy: an empirical study

    Directory of Open Access Journals (Sweden)

    Kateřina Berková

    2017-10-01

    Full Text Available The article explores various approaches to the development of cognitive process dimensions in financial literacy. It is based on the empirical research of the financial literacy levels among 1,207 fifteen-year-old Czech students compared with 18 countries worldwide (OECD, 2014a. Applying the regression model, the study has examined the strength of the relationship between the actual financial competence of 284 Czech students aged 17-18, studying economic disciplines, and their school performance. The research has produced the following conclusions: (a a weak dependence of actual skills on school performance; (b inherently associated consequence of school performance is not corresponding to the actual financial skills; (c a low level of financial competence in the dimensions - Remember, Understand and Apply. Proceeding from the research results, it will be desirable to focus on the transfer of economic methods and foreign practice into the learning process, thereby contributing to the improvement of the current situation in Czech Republic.

  6. Standard in Financial Literacy for University Students: Methodology and Empirical Evidence

    Directory of Open Access Journals (Sweden)

    JUDrIng Tomas Krizek, CEMS-MIM, LLM

    2013-07-01

    Full Text Available Financial literacy is very important element of everybody’s life. Papers and studies usually focus on general public or lower-educated group of people but we think that university educated people should not be out of scope of work done in the field of financial literacy. Our hypothesis in this article is that citizens with university education or university students may be a source of finance knowledge for their community in a similar way how medical doctors provide advice in their community. First, we define a standard in financial literacy for university students and then we test our hypothesis that university students provide advice on consumer/personnel finance matters in their community using an online survey. We also compare our results to previous studies and derive interesting findings from the survey which are further discussed in this paper.

  7. Students Perception about Financial Literacy: Case Study of International Burch University

    Directory of Open Access Journals (Sweden)

    Minela Hadzic

    2014-06-01

    Full Text Available University students, as a special consumer group, have important effects on leading trend and consumption structure. First of all, poor financial management is the main cause students are facing financial problem. Also, their characteristics of consumption and consumption status also reflect the student’s value orientation. The aim of this study was to investigate how students of private higher education institutions in BiH make purchasing decisions and how they balance small budget with living expenses. The ability to manage finances impacts students both personally and academically. Financial literacy is the ability to understand how money works in the world: how someone manages to earn or make money, how that person manages it, how he/she invests it (turn it into more and how that person donates it to help others. Data for this study were collected by using survey which are delivered to students of International Burch University. Implications provided valuable data for university administrators in management and student affairs, counselors, economic educators, and parents.

  8. Financial literacy: an interface between fi nancial information and ...

    African Journals Online (AJOL)

    the cognitive ability to understand fi nancial information in the context of these ... the interface (or gap) between information (matter) and decision-making (mind). ... Awareness of fi nancial literacy from the interface perspective promotes a ...

  9. Financial Intelligence and the Quality of Higher Education in Africa ...

    African Journals Online (AJOL)

    Financial Intelligence and the Quality of Higher Education in Africa. ... Improving the quality of curriculum development in private Universities in Africa from time to time is a task that is very essential to achieving ... AJOL African Journals Online.

  10. The Influence of Financial Literacy, Risk Aversion and Expectations on Retirement Planning and Portfolio Allocation in Malaysia

    Directory of Open Access Journals (Sweden)

    Nurul Shahnaz Mahdzan

    2018-12-01

    Full Text Available The two objectives of this paper are to examine the effect of financial literacy, risk aversion and expectations on retirement planning; and, to investigate the effect of these antecedents on the retire- ment portfolio allocation. Data was collected via a self-administered questionnaire from a sample of 270 working individuals in Kuala Lumpur, Malaysia. Logistic and ordered probit regressions were employed to analyse the first and second objective, respectively. The results from the logistic regression indicate that future expectations significantly influence the probability of planning for retirement. Meanwhile, individu- als with higher financial literacy and lower risk aversion are more likely to hold risky assets in their retirement portfolios. Subsequently, two-sample t-test and one-way ANOVA tests were conducted to further examine the differences in financial literacy, risk aversion and expectations, across demographic sub-groups. The study contributes to the literature by holistically incorporating the behavioural aspects that affect retirement planning and by exploring an uncharted issue of retirement planning—namely, the retirement portfolio allocation.

  11. Financial Literacy; Strategies and Concepts in Understanding the Financial Planning With Self-EfficacyTheory and Goal SettingTheory of Motivation Approach

    OpenAIRE

    Mu’izzuddin, -; Taufik, -; Ghasarma, Reza; Putri, Leonita; Adam, Mohamad

    2017-01-01

    This article discusses the strategies and concepts in understanding the financial literacy with the approach of self-efficacy theory and goal setting theory of motivation. The discussion begins with the concept of behavioral finance that discusses links between financial concepts to the behavior, and then proceed with the concept and measurement of financial literacy of individuals altogether with some approaches and factors that may affect it. Self-efficacy theory and goal setting theory of ...

  12. The association between financial literacy and Problematic Internet Shopping in a multinational sample

    Directory of Open Access Journals (Sweden)

    Lawrence T. Lam

    2017-12-01

    Full Text Available Purpose: To examine the association between financial literacy and Problematic Internet Shopping in adults. Methods: This cross-sectional online survey recruited participants, aged between 18 and 60years, through an online research facility. The sample consisted of multinational participants from mainly three continents including Europe, North America, and Asia. Problematic Internet Shopping was assessed using the Bergen Shopping Addiction Scale (BSAS. Financial Literacy was measured by the Financial Literacy subscale of the Financial Wellbeing Questionnaire. Multiple linear regression analyses were conducted to elucidate the relationship between the study and outcome variables with adjustment for other potential risk factors. Results: Of the total of 997 respondents with an average age of 30.9 (s.d.=8.8, 135 (13.8% could be classified as having a high risk of being Problematic Internet Shoppers. Results from the multiple regression analyses suggested a significant and negative relationship between financial literacy and Problematic Internet Shopping with a regression coefficient of −0.13, after controlling for the effects of potential risk factors such as age, region of birth, employment, income, shopping frequency, self-regulation and anxiety (t=−6.42, p<0.001. Conclusions: The clinical management of PIS should include a financial counselling as a component of the treatment regime. Enhancement of financial literacy in the general population, particularly among young people, will likely have a positive effect on the occurrence of PIS. Keywords: Problematic Internet Shopping, Online shopping addiction, Online buying, Risk factors, survey

  13. User Impact of Literacy on Treatment Outcomes Quality Regional Financial Information System

    Directory of Open Access Journals (Sweden)

    Iskandar MUDA

    2017-06-01

    Full Text Available This study aims to determine the effectiveness of the Outcomes of the Quality Regional Financial Information System. The research is an explanatory survey exploration that explains the relationship between some variables. The population of this study is formed by 7 District Municipalities in North Sumatra. The sample comprises 197 respondents; the sampling process is a purposive random one. Variables used include User Literacy, Regional Information System, Role Ambiguity, Training and Local Government Finance Report. Treatment Outcomes Quality systems have a significant effect on the accuracy of Local Government Financial Statement Presentation. Role Ambiguity has no significant effect on the accuracy of Local Government Financial Statement Presentation. Training does not significantly influence the accuracy of Government Financial Statements literacy. The findings of this study provide recommendations for improvement of the performance manager in North Sumatra, which thus supporting the implementation of a good government system.

  14. 12 CFR 7.1021 - National bank participation in financial literacy programs.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 1 2010-01-01 2010-01-01 false National bank participation in financial literacy programs. 7.1021 Section 7.1021 Banks and Banking COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE... at a facility used by, a school. The school premises or facility will not be considered a branch of...

  15. Educating for Financial Literacy: A Case Study with a Sociocultural Lens

    Science.gov (United States)

    Sprow Forte, Karin

    2013-01-01

    This study explored the teaching and learning in an adult financial literacy education program aimed specifically at Latina single mothers to understand the influence of sociocultural factors in this setting. Informed by critical and Latina feminist sociocultural adult learning perspectives and the transtheoretical model of behavior change,…

  16. The Relationships Between Instagram Social Media Usage, Hedonic Shopping Motives and Financial Literacy on Impulse Buying

    Directory of Open Access Journals (Sweden)

    Asri Triwidisari

    2018-03-01

    Full Text Available This research aims to determine the effect of using instagram social media and hedonic shopping motives to impulse buying media and to know whether financial literacy is able to moderate the influence of instagram social media use and hedonic shopping motives to impulse buying. This type of research is quantitative research. The population of this research was students of Accounting Economics Education Study Program of Economics Faculty of Universitas Negeri Semarang (UNNES. The research sample was 110 students of class of 2013 which chosen by using purposive sampling technique. The data was analyzed by using descriptive statistic, simple regression analysis, and interaction test (moderation. The result of the research shows that instagram social media usage and hedonic shopping motives have positive and significant effect to students’ impulse buying. The result of regression analysis shows that financial literacy has negative and significant effect on impulse buying. Thus, financial literacy can moderate the influence of instagram social media usage to impulse buying. However, the other regressive result indicates that financial literacy is not able to moderate the influence of hedonic shopping motives on impulse buying.

  17. Elementary Preservice Teachers' and Teacher Educators' Perceptions of Financial Literacy Education

    Science.gov (United States)

    Henning, Mary Beth; Lucey, Thomas A.

    2017-01-01

    The authors conducted an online survey of elementary teacher education programs within a large midwestern state to assess preservice teachers' and teacher educators' beliefs about and preparedness to teach financial literacy. Very few preservice teachers had meaningful experiences with personal finance in high school, college, or personal decision…

  18. Other Ways of Being: Challenging Dominant Financial Literacy Discourses in Aboriginal Context

    Science.gov (United States)

    Blue, Levon Ellen; Pinto, Laura Elizabeth

    2017-01-01

    Financial literacy education (FLE) continues to gain momentum on a global scale. FLE is often described as essential learning for all citizens, despite the bulk of initiatives outside the compulsory school classrooms focussed on educating economically disadvantaged individuals. Informed by Indigenous ways of knowing, being and doing a critical…

  19. Understanding the Long-Term Benefits of a Latino Financial Literacy Education Program

    Science.gov (United States)

    Meraz, Antonio Alba; Petersen, Cindy M.; Marczak, Mary S.; Brown, Arthur; Rajasekar, Neeraj

    2013-01-01

    The long-term impact of a Latino financial literacy program was evaluated with a sample of relatively recent immigrant populations in southern Minnesota. Telephone and face-to-face interviews were conducted with participants 6 months post program completion. Results indicate that improvements in knowledge and skills were retained and that these…

  20. Teachers' Perceptions of Financial Literacy and the Implications for Professional Learning

    Science.gov (United States)

    Sawatzki, Carly M.; Sullivan, Peter A.

    2017-01-01

    Consumer, economic and financial literacy education at school is central to active and informed citizenship. Over the past decade, the Australian Securities and Investments Commission has led various policy initiatives and influenced curriculum and resource development in this area. However, there remains a paucity of research exploring how…

  1. Risk preference or financial literacy? Behavioural experiment on index insurance demand

    NARCIS (Netherlands)

    Awel, Y.; Azomahou, T.T.

    2015-01-01

    We use unique cross-sectional household data from Ethiopia to investigate the effect of risk preference, financial literacy and other socio-economic characteristics on demand for index insurance. We measure risk preference based on survey experiments using lottery choice game with real monetary

  2. Using the U.S. "Test of Financial Literacy" in Germany--Adaptation and Validation

    Science.gov (United States)

    Förster, Manuel; Happ, Roland; Molerov, Dimitar

    2017-01-01

    In this article, the authors present the adaptation and validation processes conducted to render the American "Test of Financial Literacy" (TFL) suitable for use in Germany (TFL-G). First, they outline the translation procedure followed and the various cultural adjustments made in line with international standards. Next, they present…

  3. Financial Literacy in College Undergraduates Following the 2008-2009 Recession

    Science.gov (United States)

    Lynch, Michael

    2016-01-01

    In the wake of the deep recession of 2008 and 2009, there has been increased concern over the current level of financial literacy among American citizens. For many, this concern extends to our college students getting ready to enter the real world as they leave college life behind. This study looks at the preparedness of college students to manage…

  4. Improving index mutual fund risk perception : Increase financial literacy or communicate better?

    NARCIS (Netherlands)

    de Goeij, Peter; Van Campenhout, Geert; Subotic, Marjana

    2017-01-01

    We investigate the effect of financial literacy and index mutual fund risk disclosure format on investors’ risk perception by examining the risk disclosure part in the Key Investor Information Document (KIID) for UCITS funds in Europe. Using an experimental survey administered to 244 university

  5. Plan, Save, Succeed! Financial Literacy Poster/Teaching Guide. Expect the Unexpected with Math[R

    Science.gov (United States)

    Actuarial Foundation, 2013

    2013-01-01

    "Plan, Save, Succeed!" is a new program aligned with Jumpstart Coalition National Standards in K-12 Personal Finance Education, National Council of Teachers of Mathematics (NCTM) Standards, and Common Core Standards for Mathematical Practice. "Plan, Save, Succeed!" is designed to help students understand key financial literacy topics including…

  6. Accounting Training Module Development to Boost Agriculture Financial Literacy on Palm Farmers

    Science.gov (United States)

    Hasibuan, Henny Triyana; Murwani, Danardana; Widjaja, Sri Umi Mientarti; Witjaksono, Mit

    2017-01-01

    This research aims to develop agriculture accounting training module in order to increase palm oil farmer financial literacy, in this case farmers in Donomulyo, Malang Regency, Indonesia. The method utilized in model development is Design Based Research using the following progression: problem identification, explanation of goals, design and…

  7. Digital Literacy Learning in Higher Education through Digital Storytelling Approach

    Science.gov (United States)

    Chan, Banny S. K.; Churchill, Daniel; Chiu, Thomas K. F.

    2017-01-01

    It is necessary to develop digital literacy skills with which students can communicate and express their ideas effectively using digital media. The educational sectors around the world are beginning to incorporate digital literacy into the curriculum. Digital storytelling, one of the possible classroom activities, is an approach which may help…

  8. Financial literacy and retirement planning in the Netherlands

    NARCIS (Netherlands)

    van Rooij, Maarten C. J.; Lusardi, Annamaria; Alessie, Rob J. M.

    The complexity of financial decisions that households now face has increased to unprecedented levels. At the same time, households seem to lack the financial knowledge to cope with these decisions, including how to save and invest adequately for retirement. In this paper, we examine the relationship

  9. Aging and Strategic Learning: The Impact of Spousal Incentives on Financial Literacy.

    Science.gov (United States)

    Hsu, Joanne W

    2016-01-01

    Women tend to be less financially literate than men, consistent with a division of labor where husbands manage finances. However, women tend to outlive their husbands. I find that older women acquire financial literacy as they approach widowhood - 80 percent would catch up with their husbands by the expected onset of widowhood. These gains are not attributable to husbands' cognitive decline, as captured by cognition tests. The results are consistent with a model in which the division of labor collapses when a spouse dies: women have incentives to delay acquiring financial human capital, but also to begin learning before widowhood.

  10. Aging and Strategic Learning: The Impact of Spousal Incentives on Financial Literacy

    Science.gov (United States)

    Hsu, Joanne W.

    2017-01-01

    Women tend to be less financially literate than men, consistent with a division of labor where husbands manage finances. However, women tend to outlive their husbands. I find that older women acquire financial literacy as they approach widowhood — 80 percent would catch up with their husbands by the expected onset of widowhood. These gains are not attributable to husbands’ cognitive decline, as captured by cognition tests. The results are consistent with a model in which the division of labor collapses when a spouse dies: women have incentives to delay acquiring financial human capital, but also to begin learning before widowhood. PMID:28148971

  11. Taking Advertising Literacy to a Higher Level: An Exploratory Multilevel Analysis of Children's Advertising Literacy

    OpenAIRE

    De Pauw, Pieter; Cauberghe, Veroline; Hudders, Liselot

    2017-01-01

    As few studies focus on how children’s coping with advertising is affected by their environment, the present study uses multilevel analysis to explore the role of both primary (i.e. parents) and secondary socializing agents (i.e. classmates, teachers) in children’s advertising literacy. The results show that children’s cognitive advertising literacy and attitudes toward advertising are to a large extent determined by class-level processes. Their moral advertising literacy is a more individual...

  12. asking questions for higher order thinking in visual literacy

    African Journals Online (AJOL)

    thinking skills in the English visual literacy (VL) learning classroom. .... out that the use of assessment in the classroom as a tool to promote greater learner ..... tions on technical knowledge and critical language awareness were not asked.

  13. The Effectiveness of Financial Literacy Instruction: The Role of Individual Development Accounts Participation and The Intensity of Instruction

    Science.gov (United States)

    Bhattacharya, Radha; Gill, Andrew; Stanley, Denise

    2016-01-01

    We examine improvements in financial knowledge for 8th-grade participants in our financial fitness camp, part of our multifaceted financial literacy program. Eighty-three students enrolled in the camp, and 59 had individual development accounts (IDA). We address several issues raised in the literature by focusing on low-income, predominantly…

  14. Using a Financial Health Model to Provide Context for Financial Literacy Education Research: A Commentary

    Science.gov (United States)

    Huston, Sandra J.

    2015-01-01

    In the article, "Enhancing links between research and practice to improve consumer financial education and well-being" Billy J. Hensley, Director of Education at National Endowment for Financial Education® (NEFE®), outlines his perspective on the current relation between financial education and financial outcome (downstream financial…

  15. Smarter Spending: Reforming Federal Financial Aid for Higher Education

    Science.gov (United States)

    Gillen, Andrew

    2011-01-01

    In higher education, three generally recognized rationales for federal involvement in financial aid exist: (1) Promoting equality of opportunity: Those from poor households are less likely to attend college for a variety of reasons; (2) Credit market imperfections: Students may not have access to the credit needed to make profitable investments in…

  16. The Influence of Financial Performance on Higher Education Academic Quality

    Science.gov (United States)

    Montanaro, Marilee Kaye Fannon

    2013-01-01

    A variety of academic and financial performance metrics are used to assess higher education institution performance. However, there is no consensus on the best performance measures. Signaling theory and agency theory are used to frame the challenges of assessing post-secondary institution performance related to information asymmetry between the…

  17. Supporting the Teaching of the Visual Literacies in the Earth and Life Sciences in Higher Education

    Science.gov (United States)

    Paxton, Moragh; Frith, Vera; Kelly-Laubscher, Roisin; Muna, Natashia; van der Merwe, Mathilde

    2017-01-01

    Internationally, there has been increasing emphasis on the teaching of the academic literacies, particularly reading and writing, in higher education institutions. However, recent research is highlighting the need for more explicit teaching of multimodal forms of communication, such as the visual literacies, in undergraduate courses in a wide…

  18. Information Literacy Threshold Concepts and the Association of College and Research Libraries' Framework for Information Literacy for Higher Education

    Directory of Open Access Journals (Sweden)

    Gayle Schaub

    2017-04-01

    Full Text Available The 2014 release of the Association of College and Research Libraries’ Framework for Information Literacy for Higher Education had a significant impact on information literacy scholarship and practice in the United States. The revision process of the previous Competency Standards and the purpose and implementation of the new Framework are still widely discussed as librarians work out what the Framework means to individual institutions and to information literacy as a whole. Organized around six threshold concepts in information literacy as identified in recent research, the Framework reflects developments in the information landscape as threshold concepts have become influential. The authors, who began their research in threshold concepts at the same time as the use and discussion of information literacy threshold concepts increased in the United States, discuss how their work fits into a larger, national conversation on conceptual information literacy instruction and the creation of a high-profile document.   Die Verabschiedung des Framework for Information Literacy for Higher Education der Association of College and Research Libraries 2014 hatte beachtliche Auswirkungen auf Theorie und Praxis der Vermittlung von Informationskompetenz in den USA. Der Überarbeitungsprozess der früheren Standards Informationskompetenz sowie Zielrichtung und Umsetzung des neuen Framework werden nach wie vor breit diskutiert, da Bibliothekar/inn/e/n nun konkretisieren, was das Framework für ihre jeweilige Einrichtung und für Informationskompetenz insgesamt bedeutet. Indem es um sechs threshold concepts gruppiert ist, die die aktuelle Forschung zu Informationskompetenz identifiziert hat, bezieht das Framework gezielt Entwicklungen der Informationslandschaft auf diese richtungsweisenden threshold concepts. Die Autorinnen, die ihre Untersuchungen zu threshold concepts just zu der Zeit begannen, zu der der Einsatz von und die Diskussion um threshold concepts in

  19. 76 FR 19263 - National Financial Literacy Month, 2011

    Science.gov (United States)

    2011-04-06

    ... increasingly complex financial system. As we recover from the worst economic crisis in generations, it is more... responsibility from Wall Street to Washington. It devastated ordinary Americans, many of whom were caught by... Accountability, Responsibility, and Disclosure Act, the Dodd-Frank Wall Street Reform and Consumer Protection Act...

  20. Measuring the Impacts of Financial Literacy: Challenges for Community-Based Financial Education

    Science.gov (United States)

    Collins, J. Michael; Holden, Karen C.

    2014-01-01

    This chapter addresses financial education across the lifespan, which has the potential to enhance adult financial capability, yet methodological barriers and a lack of robust measures have hampered the ability to identify and measure the effects of educational programs on financial decisions and behavior.

  1. Examining Financial Literacy among Transfer and Nontransfer Students: Predicting Financial Well-Being and Academic Success at a Four-Year University

    Science.gov (United States)

    Starobin, Soko S.; Hagedorn, Linda Serra; Purnamasari, Agustina; Chen, Yu

    2013-01-01

    This study analyzes the data collected through the Financial Literacy project conducted in the fall semester of 2010 at a land grant research university in the Midwest. A survey instrument, which includes 43 items that measure constructs such as parental influence, financial knowledge and behaviors, and working experience of students while…

  2. The effects of financial education on financial literacy and savings behavior : Evidence from a controlled field experiment in Dutch primary schools

    NARCIS (Netherlands)

    Kalwij, A.S.; Alessie, Rob; Dinkova, M.; Schonewille, Gea; van der Schors, Anna; van der Werf, Minou

    In this paper, we report the results of a controlled field experiment designed to estimate the short-term effects of a 45-minute financial education program on financial literacy and savings behavior in Dutch primary schools. Among fifth and sixth graders, the program led to a pre- to posttest

  3. The Relationships Between Instagram Social Media Usage, Hedonic Shopping Motives and Financial Literacy on Impulse Buying

    OpenAIRE

    Asri Triwidisari; Ahmad Nurkhin; Muhsin Muhsin

    2018-01-01

    This research aims to determine the effect of using instagram social media and hedonic shopping motives to impulse buying media and to know whether financial literacy is able to moderate the influence of instagram social media use and hedonic shopping motives to impulse buying. This type of research is quantitative research. The population of this research was students of Accounting Economics Education Study Program of Economics Faculty of Universitas Negeri Semarang (UNNES). The research sam...

  4. Digital Literacies in Higher Education: Exploring Textual and Technological Practice

    Science.gov (United States)

    Lea, Mary R.; Jones, Sylvia

    2011-01-01

    Concerns are frequently raised about undergraduates being so immersed in web-based technologies in their broader lives that they have difficulties engaging in more conventional study practices, such as academic reading and writing essays. The research reported on here examines this issue through a literacies lens. The project findings illustrate…

  5. Financial literacy as a key factor for an individual’s social and economic well-being

    Directory of Open Access Journals (Sweden)

    Filippova Tatyana

    2016-01-01

    Full Text Available Financial literacy is reviewed in the article as a factor influencing any individual’s well-being. Characteristics of a financially competent individual are defined. Behavioral mistakes impeding rational decision-making are outlined. Structures bearing the signs of financial pyramids are described as an example of their participants’ cognitive limitations. The importance of creating a common information area is stressed. This process is aimed at remedying negative consequences for all economic agents and preventing inefficient financial decisions when executing financial transactions. The major task of the process is to incorporate information about social and economic activity of institutions (state, business and non-governmental and population in the common information area. Therefore, every economic agent will get prompt and trustworthy information. It will encourage an individual to make financially adequate decisions. The article also presents fundamental solutions for improving individuals’ well-being when raising their financial literacy

  6. Financial literacy as an essential element in nursing management practice.

    Science.gov (United States)

    Talley, Linda B; Thorgrimson, Diane H; Robinson, Nellie C

    2013-01-01

    Grooming nurses at all levels of the organization to master health care executive skills is critical to the organization's success and the individual's growth. Selecting and executing next steps for nursing leadership team development is critical to success. Leaders must make it their responsibility to provide nurses with increased exposure to quality, safety, and financial data, thereby allowing nurses to translate data while achieving and sustaining successful outcomes. The work of the CNO Dashboard to measure, report, trend, and translate clinical and non-clinical outcomes must be integrated throughout all levels of nursing staff so that nursing practice is positioned to continually strive for best practice. The education and evolution of nurses as business managers is critical to building a strong RN workforce.

  7. Measuring Financial Literacy: Developing and Testing a Measurement Instrument with a Selected Group of South African Military Officers

    Science.gov (United States)

    Schwella, E.; van Nieuwenhuyzen, Bernard J.

    2014-01-01

    Are South Africans financially literate, and how can this be measured? Until 2009 there was no South African financial literacy measure and, therefore, the aim was to develop a South African measurement instrument that is scientific, socially acceptable, valid and reliable. To achieve this aim a contextual and conceptual analysis of financial…

  8. The Impact of The Stock Market Game on Financial Literacy and Mathematics Achievement: Results from a National Randomized Controlled Trial

    Science.gov (United States)

    Hinojosa, Trisha; Miller, Shazia; Swanlund, Andrew; Hallberg, Kelly; Brown, Megan; O'Brien, Brenna

    2010-01-01

    The Stock Market Game[TM] is an educational program supported by the Securities Industry and Financial Markets Association (SIFMA) Foundation for Investor Education. The program is designed to teach students the importance of saving and investing by building their financial literacy skills. The primary focus of the study was to measure the impact…

  9. Contextual Influences on Financial Behavior: A Proposed Model for Adult Financial Literacy Education

    Science.gov (United States)

    Way, Wendy L.

    2014-01-01

    This chapter presents an ecological model that highlights the importance of considering multiple contextual influences on behavior as well as other factors that may impact learning when designing research and practice aimed at enhancing financial capability.

  10. Impact of the digital divide on information literacy training in a higher education context

    OpenAIRE

    Segarani Naidoo; Jaya Raju

    2012-01-01

    This paper reports on a master’s study undertaken to investigate the impact of the digital divide on information literacy(IL) training of Extended Curriculum Programme (ECP) students at the Durban University of Technology (DUT). Since1994 the demographics of higher education institutions in South Africa have changed. Today these institutions compriseheterogeneous groups of students, by race, economic background, digital background, etc. and consequently with differentlevels of literacy, infor...

  11. IS THERE A RELATIONSHIP BETWEEN FINANCIAL LITERACY, CAPITAL STRUCTURE AND COMPETITIVENESS OF SMEs?

    Directory of Open Access Journals (Sweden)

    Anamarija Delić

    2016-06-01

    Full Text Available The importance of financial market development for the economic development and competitiveness of a country is reflected in channelling of capital towards those investments that have the highest returns, thus ensuring liquidity and efficient grouping of enterprises, that is, risk-taking. Efficient risk-taking is primarily reflected in the availability of a large number of sources of funding, which allow enterprises freedom when forming their capital structure. Enterprises that do not have a large number of sources of funding at their disposal have to resort to debt financing when forming their capital structure, which ultimately means excessive financial vulnerability. Financial vulnerability, especially in times of the financial crisis, when fluctuations in the cost of capital are very high, reduces investment, growth and employment in the long-term. Small and medium-sized enterprises in the Croatian underdeveloped financial market must resort to borrowing, as the most readily available source of funding. Analysing the process of decision-making about capital structure on a sample of 108 small and medium-sized enterprises, it was observed that enterprises whose capital structure is less dependent on debt achieve better financial results and growth. The process of making financial decisions in those companies is in the hands of owners and/or managers and consultants with knowledge about the advantages and disadvantages of individual sources of funding. Financial knowledge is one of the most important determinants of the capital structure that will enable the growth and development of the small and medium-sized enterprise sector, as well as greater competitiveness of enterprises, regardless of size, activity, industry and the form of ownership of these enterprises. T-test and Levene’s test of equality of variances were used to investigate the relationship between the profitability of enterprises and their financial literacy.

  12. Financial Health of the Higher Education Sector: 2015-16 Financial Results. Data Analysis. March 2017/02

    Science.gov (United States)

    Higher Education Funding Council for England, 2016

    2016-01-01

    This report provides an overview of the financial health of the Higher Education Funding Council for England (HEFCE) funded higher education sector in England. The analysis covers the financial results for 2015-16. This does not include further education or sixth-form colleges, or alternative providers of higher education.

  13. Higher-order phase transitions on financial markets

    Science.gov (United States)

    Kasprzak, A.; Kutner, R.; Perelló, J.; Masoliver, J.

    2010-08-01

    Statistical and thermodynamic properties of the anomalous multifractal structure of random interevent (or intertransaction) times were thoroughly studied by using the extended continuous-time random walk (CTRW) formalism of Montroll, Weiss, Scher, and Lax. Although this formalism is quite general (and can be applied to any interhuman communication with nontrivial priority), we consider it in the context of a financial market where heterogeneous agent activities can occur within a wide spectrum of time scales. As the main general consequence, we found (by additionally using the Saddle-Point Approximation) the scaling or power-dependent form of the partition function, Z(q'). It diverges for any negative scaling powers q' (which justifies the name anomalous) while for positive ones it shows the scaling with the general exponent τ(q'). This exponent is the nonanalytic (singular) or noninteger power of q', which is one of the pilar of higher-order phase transitions. In definition of the partition function we used the pausing-time distribution (PTD) as the central one, which takes the form of convolution (or superstatistics used, e.g. for describing turbulence as well as the financial market). Its integral kernel is given by the stretched exponential distribution (often used in disordered systems). This kernel extends both the exponential distribution assumed in the original version of the CTRW formalism (for description of the transient photocurrent measured in amorphous glassy material) as well as the Gaussian one sometimes used in this context (e.g. for diffusion of hydrogen in amorphous metals or for aging effects in glasses). Our most important finding is the third- and higher-order phase transitions, which can be roughly interpreted as transitions between the phase where high frequency trading is most visible and the phase defined by low frequency trading. The specific order of the phase transition directly depends upon the shape exponent α defining the stretched

  14. Giving Guidance When You Don't Have the Resources of a Swiss Bank: Answering Everyday Questions That Deal with Financial Literacy

    Science.gov (United States)

    Kraus, Peter L.

    2015-01-01

    Financial literacy is the ability to understand how money works in a person's day-to-day life: how someone earns money, manages it, invests it, and donates it to help others. As librarians, we must realize that when patrons come to us for guidance in the area of financial literacy, they are trusting us to provide not only reliable information for…

  15. The Role of Information Literacy in Higher Education: An Initiative at Al Akhawayn University in Morocco.

    Directory of Open Access Journals (Sweden)

    Aziz El Hassani

    2015-12-01

    Full Text Available This paper, part of which was presented at the 12th annual AMICAL conference at the American University in Bulgaria held in Blagoevgrad, on 29 May 2015, reports on a doctoral research project which explores the meaning and role of information literacy in higher education and lifelong learning. It also highlights an information literacy initiative at a Moroccan university, namely Al Akhawayn University in Ifrane, and how its academic library strives to promote it. Living in an age of information tsunami and technological advancement, issues of information access, evaluation, retrieval and effective use, have become significantly critical in our societies. Directing the attention to the issue of information literacy and framing the best practices on how they can be best blended into the learning process of students are of paramount importance. Like other libraries across the globe, Mohammed VI Library at Al Akhawayn University in Morocco has realized the importance of information literacy and has worked in various ways to address this issue. This paper will describe the university strategy of teaching Information Literacy to graduate and undergraduate students in a number of ways. Recommendations to improve and support this initiative, including incorporating information literacy and skills across the university's curriculum, and fostering more effective partnerships between the Al Akhawayn university library and the teaching faculty, will be also discussed in this paper.

  16. Moving Forward: A Discussion on the Revision of the ACRL Information Literacy Standards for Higher Education

    Directory of Open Access Journals (Sweden)

    Ellysa Stern Cahoy

    2013-12-01

    Full Text Available Abstract: The first PA Forward Information Literacy Summit was held in State College at the Pennsylvania State University, University Park campus, on Wednesday, July 24, 2013. This summit brought together K-12 and academic librarians from Pennsylvania to discuss current issues in information literacy. This text is a transcript of a discussion between Ellysa Cahoy, past chair of the of the ACRL Information Literacy Competency Standards Committee, and the ACRL Information Literacy Competency Standards Review Task Force, and Craig Gibson and Trudi Jacobson who are currently co-chairs of the ACRL Information Literacy Standards Revision Task Force. This Task Force is charged with reviewing and revising the current ACRL Information Literacy Competency Standards for Higher Education, that were originally adopted by ACRL in 2000. This discussion was about the process by which the Standards came to be under review, some of the issues involved in the review, and the time line for the review and librarian feedback and comment on the process. The PowerPoint presentation which accompanied this discussion, as well as other documents mentioned during the presentation are attached to this transcript as supplemental files.

  17. Using the Multiliteracies Approach to Promote English Literacy in Higher Education

    Directory of Open Access Journals (Sweden)

    Sarjit Kaur

    2007-06-01

    Full Text Available Higher education teachers who teach English proficiency courses to undergraduates often make the assumption that if learners work hard on content taught to them, they would have acquired literacy in all aspects relating to the language. Do learners’ abilities to read well or write well in English depend on their context? To discern the appropriate path for their learners, higher education teachers must be knowledgeable about “language and literacy, be adept at seeking and critically evaluating information and be able to relate these understandings to their daily working knowledge of their learners” (Heydon, Hibbert & Iannaci, 2005: 312. Many definitions of the term ‘literacy’ seem to focus too much on skill to the exclusion of will (Padak & Bardine, 2004. The concepts of promoting ‘engaged learners’ and ‘literacy empowerment’ in higher education contexts should incorporate some of the following aspects: motivation, strategies, knowledge and social interaction. This paper discusses the design and framework of the Multiliteracies Approach advocated by The New London Group and argues that it is a viable teaching strategy that embraces literacy abilities, literacy choices and attitudes. Additionally, it recognizes that meaningful learning can take place if there is bridging between theory and practice.

  18. Financial Health of the Higher Education Sector: Financial Results and TRAC Outcomes 2013-14. Issues Paper 2015/07

    Science.gov (United States)

    Higher Education Funding Council for England, 2015

    2015-01-01

    This report provides an overview of the financial health of the Higher Education Funding Council for England (HEFCE)-funded higher education sector in England. The analysis covers financial results for the academic year 2013-14, as submitted to HEFCE in December 2014, as well as the outcomes from the sector's Transparent Approach to Costing (TRAC)…

  19. Financial Condition and Tuition in Private Nonprofit Baccalaureate Higher Education

    Science.gov (United States)

    Peruso, Dominick F., Jr.

    2012-01-01

    The rate of tuition inflation at U.S. colleges and universities is alarming and threatens both access and choice. Private nonprofit baccalaureate colleges often possess the highest tuition rates but routinely face financial challenges. This study was designed to better understand the relationship between tuition and financial condition for the…

  20. Educational Story as a Tool for Addressing the Framework for Information Literacy for Higher Education

    Science.gov (United States)

    Vossler, Joshua J.; Watts, John

    2017-01-01

    To integrate the Framework for Information Literacy for Higher Education into their professional practice, librarians are called upon to address both the cognitive and emotional aspects of their learners. The Framework does not provide prescriptive details for its own deployment, so it is up to individuals, departments, or entire libraries to…

  1. Environmental Literacy Components and Their Promotion by Institutions of Higher Education: An Israeli Case Study

    Science.gov (United States)

    Arnon, Sara; Orion, Nir; Carmi, Nurit

    2015-01-01

    The recognition of the key role and moral responsibility of higher education institutions (HEIs) in cultivating the environmental literacy (EL) of their students is growing globally. The current research examined the contribution of HEIs to their students' EL by focusing on an Israeli college as a case-study. A survey was conducted among a…

  2. Making "Good" or "Critical" Citizens: From Social Justice to Financial Literacy in the Québec Education Program

    Science.gov (United States)

    Lefrançois, David; Ethier, Marc-André; Cambron-Prémont, Amélie

    2017-01-01

    Purpose: The Québec Ministry of Education has introduced--as of September 2017--a new mandatory course focusing on financial literacy and addressing such issues as credit scores, loans, taxes and budgets. This announcement has created intense educational debate on the "raison d'être" and content of the course. This article will summarise…

  3. Community-Based Financial Literacy Education in a Cultural Context: A Study of Teacher Beliefs and Pedagogical Practice

    Science.gov (United States)

    Tisdell, Elizabeth J.; Taylor, Edward W.; Forte, Karin Sprow

    2013-01-01

    This article presents the findings related to teaching beliefs and pedagogical practices of a study that examined how financial literacy educators educate adults from underserved population groups in community-based settings. The study is theoretically framed in the teaching beliefs and culturally responsive education literature. Findings reveal a…

  4. The Effect of Socio-Economic status of Parents, Family Financial Management Education and Learning in Universities Connected with the Financial Literacy of the Students

    Directory of Open Access Journals (Sweden)

    Irin Widayati

    2015-02-01

    Key Words: socio-economic status of parents, family financial management education, learning in college, financial literacy   Abstrak: Tujuan penelitian ini untuk mengkaji pengaruh langsung maupun tak langsung status sosial ekonomi orang tua, pendidikan pengelolaan keuangan keluarga, dan pembelajaran di perguruan tinggi terhadap literasi finansial. Data dikumpulkan dengan melalui tes dan angket. Teknik analisis data dengan analisis jalur dan analisis regresi dengan uji selisih mutlak. Hasil penelitian adalah terdapat pengaruh langsung maupun tak langsung status sosial ekonomi orang tua, pendidikan pengelolaan keuangan keluarga, dan pembelajaran di perguruan tinggi terhadap literasi finansial. Kata kunci: status sosial ekonomi orang tua, pendidikan pengelolaan keuangan keluarga, pembelajar-an di perguruan tinggi, literasi finansial

  5. Financial Intelligence and the Quality of Higher Education in Africa

    African Journals Online (AJOL)

    First Lady

    Financial Intelligence is one of the five components of a twenty first century education, the ..... business by taking full responsibility for and becoming the Chief. Executive Officers (CEO) of their own lives, key into personal/self development or ...

  6. Key Financial Metrics on Australia's Higher Education Sector--December 2016

    Science.gov (United States)

    Australian Government Tertiary Education Quality and Standards Agency, 2016

    2016-01-01

    This report is the second release of financial information held by Tertiary Education Quality and Standards Agency (TEQSA). It provides a snapshot of selected key financial metrics across the Australian higher education sector. Data in this report has been sourced from TEQSA's 2015 data collection and relates to financial years ended 31 December…

  7. Culturally Diverse Students in Higher Education: Challenges and Possibilities within Academic Literacy Practices

    Directory of Open Access Journals (Sweden)

    Elena Tkachenko

    2016-10-01

    Full Text Available With growing diversity in the population, higher education faces a new situation with increasing student diversity. In our paper, we will explore questions concerning the consequences student diversity has for higher-education institutions. Based on our experience from three different R&D projects, the differences in culture and academic literacy practices give culturally diverse students challenges that have often been ignored in academia. Some other studies also document that this group of students has a much higher risk of dropping out and underachieving than majority students (Andersen & Skaarer- Kreutz, 2007; Støren, 2009. In our paper, we are going to discuss the students’ challenges and discourse of remediation that is often associated with their challenges and suggest how higher-education institutions can adjust their practices to be more oriented to intercultural communication. Intercultural communication as a dialogic approach may create dynamics in academic tutoring and lead to mutual change/transformation instead of a one-way adaptation of existing academic literacy norms. We argue that all teachers should be aware of cultural differences in literacy practices in the education systems and strive to adjust their teaching practices to the diversity in the classroom. This approach, we believe, can contribute to a better learning environment for all students, independently of their backgrounds. 

  8. Integrating Financial Aid and Financial Policies: Case Studies from Five States. Changing Direction: Integrating Higher Education Financial Aid and Financing Policies.

    Science.gov (United States)

    Western Interstate Commission for Higher Education, Boulder, CO.

    This report is a collection of five state case studies comprising a major component of the first phase of the project, "Changing Direction: Integrating Higher Education Financial Aid and Financing Policies." The project explored state-level strategies to better align financing and financial aid policies and support more informed decision…

  9. The Development of the Financial Literacy Program at the Community College of Baltimore County

    Science.gov (United States)

    Reams-Johnson, Ansa; Delker, Susan

    2016-01-01

    Student debt has increasingly become an important topic in higher education. Many students, particularly low-income and first-generation college students, do not have a solid understanding of managing personal finances. This becomes further compounded upon entering college, as these students lack the financial acumen to understand the long-term…

  10. The European platform for financial education as incentive for the national efforts in implementing financial literacy programs: The case of the Association of Serbian Banks

    Directory of Open Access Journals (Sweden)

    Sredojević Slađana

    2017-01-01

    Full Text Available A sustainable financial system relies on two pillars: the functional and healthy financial institutions, as well as the financially competent customers-investors-entrepreneurs. The responsibility for the implementation of training programs and preparation for the well-informed choice does not lie only with the natural persons and legal entities. This is a shared responsibility of different stakeholders: individuals, families, small and medium enterprises, public administration, the Ministry of Education, the financial services sector, employers and representatives of trade unions and consumer protection organizations as well as other civil society initiatives. A prime example of such an integrated approach towards the same goal is the European Platform for Financial Education, an initiative launched by the European Banking Federation, the European Banking Training Network and other institutions (professional associations, in February 2017 in Brussels as an incentive for the national level efforts in implementing the respective financial literacy programs. In this paper we analyzed the importance and role of the European Platform for Financial Education in the case of the Serbian banking sector through the activities of the Association of Serbian Banks. These activities will be implemented by the Association of Banks of Serbia continuously throughout the year, and after the celebration of the European Money Week on 27-31 March 2017.

  11. A Partnership Approach to Promoting Information Literacy for Higher Education Researchers

    Directory of Open Access Journals (Sweden)

    Stéphane Goldstein

    2012-01-01

    Full Text Available The promotion of information literacy in the UK higher education research sector has traditionally been the preserve of academic libraries. However, other professional groups have obvious interests in this area, and there is a strong case for providing a framework which enables different parties with a stake in information literacy to work together in order to reach practical objectives. In the UK, a coalition of partners has been set up to provide this collective framework and to provide synergy. This paper sets out the rationale for this approach, sets out the sort of activities that the coalition has fostered since its inception in late 2009 and reflects on whether it might serve as an example for other parts of Europe or for transnational collaborations.

  12. Financial Crisis Management in Higher Education: Responses by 20 Private Colleges and Universities to the 2007-2009 Financial Crisis

    Science.gov (United States)

    Dorantes, Andrew R.; Low, Justin R.

    2016-01-01

    As a result of the Great Recession, higher education in the United States suffered from the most significant financial crisis since the Great Depression (Breneman 2008; Zumeta 2010). This crisis affected all institutions of higher education since it challenged three major revenue sources: net tuition income, endowment income, and gift income…

  13. Literacy

    DEFF Research Database (Denmark)

    Bremholm, Jesper

    I løbet at de seneste 10 år har literacy-begrebet for alvor vundet indpas som et etableret begreb i den nordiske forsknings- og uddannelsesverden, ikke mindst inden for læse-/skriveområdet. Der er dog langt fra konsensus om den præcise betydning af begrebet, og af samme grund hersker der en udbredt...... forvirring om hvorledes det skal forstås. Man kan på den baggrund stille spørgsmålet om hvorvidt literacy overhovedet er et brugbart og produktivt begreb i en nordisk kontekst. Når man i PISA-undersøgelserne giver læseområdet den pleonastiske betegnelse reading literacy, kunne det give anledning til...... at tvivle på at det er tilfældet. Med afsæt i forskellige begrebs- og forskningsmæssige perspektiver diskuteres i oplægget literacy-begrebets berettigelse, og i forlængelse heraf præsenteres et bud på en trifokal optik som teoretisk blik på literacy i undervisningskontekster. Eksempler fra forskellige...

  14. STRENGTHENING STUDENTS’ LITERACY THROUGH REFLECTIVE ESSAY WRITING: AN IMPLEMENTATION OF WRITING TO READ PROGRAM IN HIGHER EDUCATION

    Directory of Open Access Journals (Sweden)

    Arina Shofiya

    2017-11-01

    Full Text Available Literacy is a condition where a person has capability to read for knowledge, write to share knowledge, and think critically. Students’ literacy is a never-end issue in the field of English Language Teaching. Studies have been carried out to investigate literacy practices in various level of education including higher education. Among the problems of students’ literacy in higher education are the amount of their reading and writing practices and their motivation to read and write. The current paper is intended to share an experience in strengthening students’ literacy at the English Department of State Islamic Institute (Institut Agama Islam Negeri/IAIN Tulungagung, East Java. The preliminary investigation of the present study revealed that many students have low motivation to read. In addition, their comprehension was relatively low as represented in their paper works. Under a Classroom Action Research Design, the present study was conducted to propose writing to read program to strengthen the students’ literacy. In such program, the students were required to write a reflective essay based on the selected topics that they had to read prior to classes. The findings showed that writing reflective essay helped students strengthen their literacy as well as improve their motivation to read and to write because the reading and writing activities were done in a more relax and supportive environment that was at home.

  15. Higher Education in Times of Financial Distress: The Minnesota Experience

    Science.gov (United States)

    Severns, Roger

    2012-01-01

    Like many states, Minnesota has incurred large budget deficits during the past two years. Those deficits have, in turn, led to changes in a number of areas of state government, particularly higher education. Faculty have incurred pay freezes and layoffs, programs have closed, and tuition increased. Campuses within the MnSCU system have been…

  16. Information Base of Financial Analysis of Educational Institutions of Higher Education

    Directory of Open Access Journals (Sweden)

    Alexander A. Galushkin

    2015-12-01

    Full Text Available In this article author analyzes issues related to the formation of information base analysis of the financial condition of educational institutions of higher education. Author notes that are significantly different principles of financial (accounting statements of non-governmental and government (budget of educational institutions of higher professional education. In conclusion, author notes that when analyzing the financial condition of the group of higher professional education institutions, they can be classified into subgroups, depending on the benefits of a species (subspecies of funding and revenue.

  17. The Impact of the Global Financial Crisis on Japan's Higher Education

    Science.gov (United States)

    Huang, Futao

    2011-01-01

    This paper deals with the impact of the global financial crisis on Japan's economy, especially on its higher education. The first section provides an overview of Japan's national economy with a focus on the impact of the global financial crisis on the national economy, then the author touches on the impact on the Japanese government's finances,…

  18. Higher Education Financial Assistance Tools for Middle- and Upper-Income Taxpayers

    Science.gov (United States)

    Condon, James V.; Prince, Lori H.

    2008-01-01

    This article describes higher education financial assistance tools designed mainly for students of middle- and upper-income families who may not be eligible for financial aid from other sources. It includes the 2007 legislative updates for these tools, all of which have been devised and offered by either state or federal governments. The authors…

  19. Literacies in portuguese and english in brazilian higher education: landmarks and perspectives

    Directory of Open Access Journals (Sweden)

    Vera Lucia Lopes Cristovão

    2016-09-01

    Full Text Available This project aims at contributing to the project called Initiatives of reading and writing in Higher Education (ILEES in Latin America, whose objective was to identify and describe the initiatives of teaching and research in reading and writing in higher education in Brazil. In this article, we aim at covering the second stage of the research by identifying the writing centers and analyzing the interviews with the researchers mostly cited as references or those considered responsible for gathering research groups and/or literacy projects in different state and federal universities in the country. For our analyses, we use Bronckart’s (2008 and Bulea’s (2010 methodological framework in order to recognize, in the interviews, the themes (thematic organization segment – SOT and how the interviewees (E develop such themes in their discourse through the thematic treatment segments (STT. The results show five writing centers regarding academic reading and writing in the national context. The interviews emphasize theoretical frameworks towards literacy and recognize the lack of initiatives in different Brazilian universities and, regarding sustainability, enlargement, strengthening and recognition are urgent needs, according to our interviewees.

  20. Impact of the digital divide on information literacy training in a higher education context

    Directory of Open Access Journals (Sweden)

    Segarani Naidoo

    2012-12-01

    Full Text Available This paper reports on a master’s study undertaken to investigate the impact of the digital divide on information literacy(IL training of Extended Curriculum Programme (ECP students at the Durban University of Technology (DUT. Since1994 the demographics of higher education institutions in South Africa have changed. Today these institutions compriseheterogeneous groups of students, by race, economic background, digital background, etc. and consequently with differentlevels of literacy, information and otherwise. The problem that this study addressed was the impact of having both digitallyadvantaged and digitally disadvantaged students in the same information literacy classroom, expecting them to reachlearning outcomes without frustrating students from either group. The objective of the study was to investigate the impactof the digital divide on IL training of ECP students at the DUT and to recommend guidelines for teaching and learning of ILthat would accommodate both digitally advantaged and digitally disadvantaged students. The study employed a mixedmethod approach in its research design. Data was collected from ECP students (of 2010 by means of a questionnaire; aninterview schedule was used to collect data from Subject Librarians involved in teaching the IL module to ECP students; aseparate interview schedule was used to collect data from the ECP Coordinator. Qualitative and quantitative datacollected were prepared for analysis by means of content analysis and numerical coding, respectively and then subjectedto statistical analysis via SPSS, which produced percentage and frequency distributions to ascertain findings. The findingsof the study revealed that the digital divide does impact on IL training in ways such as: slowing down the progress of ILlessons; basic computer skills need to be taught in the IL classroom; and that digitally disadvantaged students find itdifficult to follow online lessons while advantaged students already have the

  1. The essence of student visual-spatial literacy and higher order thinking skills in undergraduate biology.

    Science.gov (United States)

    Milner-Bolotin, Marina; Nashon, Samson Madera

    2012-02-01

    Science, engineering and mathematics-related disciplines have relied heavily on a researcher's ability to visualize phenomena under study and being able to link and superimpose various abstract and concrete representations including visual, spatial, and temporal. The spatial representations are especially important in all branches of biology (in developmental biology time becomes an important dimension), where 3D and often 4D representations are crucial for understanding the phenomena. By the time biology students get to undergraduate education, they are supposed to have acquired visual-spatial thinking skills, yet it has been documented that very few undergraduates and a small percentage of graduate students have had a chance to develop these skills to a sufficient degree. The current paper discusses the literature that highlights the essence of visual-spatial thinking and the development of visual-spatial literacy, considers the application of the visual-spatial thinking to biology education, and proposes how modern technology can help to promote visual-spatial literacy and higher order thinking among undergraduate students of biology.

  2. Why do French civil-law countries have higher levels of financial efficiency?

    OpenAIRE

    Asongu Simplice

    2011-01-01

    The dominance of English common-law countries in prospects for financial development in the legal-origins debate has been debunked by recent findings. Using exchange rate regimes and economic/monetary integration oriented hypotheses, this paper proposes an “inflation uncertainty theory” in providing theoretical justification and empirical validity as to why French civil-law countries have higher levels of financial allocation efficiency. Inflation uncertainty, typical of floating exchange rat...

  3. Gender Inequality and Disabled Inclusivity in Accounting Higher Education and the Accounting Profession during Financial Crises

    Science.gov (United States)

    Lodh, Suman; Nandy, Monomita

    2017-01-01

    In this article, the authors find that, during financial crises, the wage gap between female and male accounting professionals declines and gender inequality in higher education is affected. In addition, less support and lower wages for disabled accounting professionals demotivate disabled students in accounting higher education. Because of budget…

  4. Higher health literacy is associated with better glycemic control in adults with type 1 diabetes

    DEFF Research Database (Denmark)

    Olesen, Kasper; F. Reynheim, Anne Louise; Joensen, Lene

    2017-01-01

    Aim Self-management of diabetes is influenced by a range of factors including the ability to access, understand, appraise, and use of health information in everyday life, which can collectively be called health literacy. We investigated associations between nine domains of health literacy and HbA1c...... of nine health literacy domains. This association remained significant after adjusting for educational attainment. Among the domains, ‘Actively managing my health’ had the strongest impact on HbA1c. This was in turn predicted by ‘Appraising health information’, ‘Having sufficient information to manage...... level in people with type 1 diabetes. Methods A cross-sectional study was conducted with 1399 people with type 1 diabetes attending a Danish specialist diabetes clinic. Health literacy was assessed using the nine-domain Health Literacy Questionnaire. The association between health literacy and HbA1c...

  5. Financial Health of the Higher Education Sector: Financial Results and TRAC Outcomes 2014-15. Issues Paper. March 2016/04

    Science.gov (United States)

    Higher Education Funding Council for England, 2016

    2016-01-01

    This report provides an overview of the current financial health of the Higher Education Funding Council for England (HEFCE) funded higher education sector in England. This does not include directly funded further education or other colleges, or alternative providers of higher education. The analysis covers financial results for the academic year…

  6. Does higher economic and financial development lead to environmental degradation: Evidence from BRIC countries

    Energy Technology Data Exchange (ETDEWEB)

    Tamazian, Artur [Department of Financial Economics and Accounting, University of Santiago de Compostela, Santiago de Compostela (Spain)], E-mail: artur.tamazian@usc.es; Chousa, Juan Pineiro [Department of Financial Economics and Accounting, University of Santiago de Compostela, Santiago de Compostela (Spain)], E-mail: efjpch@usc.es; Vadlamannati, Krishna Chaitanya [Department of Financial Economics and Accounting, University of Santiago de Compostela, Santiago de Compostela (Spain)], E-mail: kc_dcm@yahoo.co.in

    2009-01-15

    A vast number of studies addressed the environmental degradation and economic development but not financial development. Moreover, as argued by Stern [2004. The rise and fall of the environmental Kuznets curve. World Development 32, 1419-1439] they present important econometric weaknesses. Using standard reduced-form modeling approach and controlling for country-specific unobserved heterogeneity, we investigate the linkage between not only economic development and environmental quality but also the financial development. Panel data over period 1992-2004 is used. We find that both economic and financial development are determinants of the environmental quality in BRIC economies. We show that higher degree of economic and financial development decreases the environmental degradation. Our analysis suggests that financial liberalization and openness are essential factors for the CO{sub 2} reduction. The adoption of policies directed to financial openness and liberalization to attract higher levels of R and D-related foreign direct investment might reduce the environmental degradation in countries under consideration. In addition, the robustness check trough the inclusion of US and Japan does not alter our main findings.

  7. Does higher economic and financial development lead to environmental degradation. Evidence from BRIC countries

    Energy Technology Data Exchange (ETDEWEB)

    Tamazian, Artur; Chousa, Juan Pineiro; Vadlamannati, Krishna Chaitanya [Department of Financial Economics and Accounting, University of Santiago de Compostela, Santiago de Compostela (Spain)

    2009-01-15

    A vast number of studies addressed the environmental degradation and economic development but not financial development. Moreover, as argued by Stern [2004. The rise and fall of the environmental Kuznets curve. World Development 32, 1419-1439] they present important econometric weaknesses. Using standard reduced-form modeling approach and controlling for country-specific unobserved heterogeneity, we investigate the linkage between not only economic development and environmental quality but also the financial development. Panel data over period 1992-2004 is used. We find that both economic and financial development are determinants of the environmental quality in BRIC economies. We show that higher degree of economic and financial development decreases the environmental degradation. Our analysis suggests that financial liberalization and openness are essential factors for the CO{sub 2} reduction. The adoption of policies directed to financial openness and liberalization to attract higher levels of R and D-related foreign direct investment might reduce the environmental degradation in countries under consideration. In addition, the robustness check trough the inclusion of US and Japan does not alter our main findings. (author)

  8. Does higher economic and financial development lead to environmental degradation. Evidence from BRIC countries

    International Nuclear Information System (INIS)

    Tamazian, Artur; Chousa, Juan Pineiro; Vadlamannati, Krishna Chaitanya

    2009-01-01

    A vast number of studies addressed the environmental degradation and economic development but not financial development. Moreover, as argued by Stern [2004. The rise and fall of the environmental Kuznets curve. World Development 32, 1419-1439] they present important econometric weaknesses. Using standard reduced-form modeling approach and controlling for country-specific unobserved heterogeneity, we investigate the linkage between not only economic development and environmental quality but also the financial development. Panel data over period 1992-2004 is used. We find that both economic and financial development are determinants of the environmental quality in BRIC economies. We show that higher degree of economic and financial development decreases the environmental degradation. Our analysis suggests that financial liberalization and openness are essential factors for the CO 2 reduction. The adoption of policies directed to financial openness and liberalization to attract higher levels of R and D-related foreign direct investment might reduce the environmental degradation in countries under consideration. In addition, the robustness check trough the inclusion of US and Japan does not alter our main findings. (author)

  9. Moving Forward: A Discussion on the Revision of the ACRL Information Literacy Standards for Higher Education

    Science.gov (United States)

    Cahoy, Ellysa Stern; Gibson, Craig; Jacobson, Trudi

    2013-01-01

    The first PA Forward Information Literacy Summit was held in State College at the Pennsylvania State University, University Park campus, on Wednesday, July 24, 2013. This summit brought together K-12 and academic librarians from Pennsylvania to discuss current issues in information literacy. This text is a transcript of a discussion between Ellysa…

  10. In-service teacher education: asking questions for higher order thinking in visual literacy

    Directory of Open Access Journals (Sweden)

    Visvaganthie Moodley

    2013-01-01

    Full Text Available The kinds of questions teachers ask may thwart or promote learner high-order thinking; teachers themselves must have expertise in questioning skills to promote higher order cognition among learners. Drawing on experiential knowledge of assessment, and as an English-teaching professional development programme (PDP facilitator, I demonstrate that within the framework of a carefully structured subject-specific PDP, teachers can be taught how to enhance thinking skills in the English visual literacy (VL learning classroom. Guided by an earlier taxonomy of cognition, and using qualitative methodology, the paper analyses data obtained from: (i observation notes and examination equivalents of 40 teachers from various public schools in Gauteng who were engaged in the Advanced Certificate in Education (ACE, English specialization programme; and (ii a case study of three teachers by means of semi-structured interviews, and a study of their lesson plans and worksheets.The paper examines, specifically, teachers' choice of texts and questions asked, for English second-language learners for the teaching of VL. It concludes by suggesting that if teachers themselves are first engaged in the cognitive processes they wish learners to acquire, they are better positioned to promote higher order among their learners.

  11. The role of financial literacy and advice in fi nancial decision making ...

    African Journals Online (AJOL)

    A growing body of research is focused on determining to what extent fi nancial advice can act as a substitute for low levels of fi nancial literacy. To date, studies have found confl icting results. This study used data from a national survey of South Africans to determine whether advice could substitute for low levels of fi nancial ...

  12. Personal Financial Planning for Retirement: A Study with Specialization Courses' Students of a Higher Education Institution

    Directory of Open Access Journals (Sweden)

    Jônatas Dietrich

    2016-08-01

    Full Text Available This article presents the results of a research aimed to identify whether students of specialization of a higher education institution of Rio Grande do Sul held a personal financial planning for retirement. Yet, through this study it was sought to determine how these students do their financial planning for retirement, and those who do not realize it why they do not. To develop this study, the method used had quantitative and descriptive approach, the results were obtained through a research conducted in the first half of 2015 with 166 students in 11 courses of specialization of a higher education institution. As a result, it was found that less than half of respondents hold a financial planning for retirement, the majority uses the private pension as a major investment for such planning and that those who do not realize allege the lack of resources to save and invest or, yet, they consider themselves too young to start this planning, but it was found that the vast majority of participants do not realize that financial planning for retirement plan to do it. Still, it was contacted that the level of knowledge of personal finance and items related to social security is greatest among participants who hold a personal financial planning for retirement.

  13. Leadership Styles of Chief Financial Officers in Higher Education in the Mid-Atlantic Region

    Science.gov (United States)

    Benson, Patricia

    2017-01-01

    The purpose of this research was to explore the factors that contribute to a chief financial officer's (CFO) success and demise within a higher education setting. Relatively little attention has been given to the study of leadership in educational institutions (Vroom, 1983). Leadership defines what the future should look like, aligns people with…

  14. Financial Regulations and the Diversification of Funding Sources in Higher Education Institutions: Selected European Experiences

    Science.gov (United States)

    Stachowiak-Kudla, Monika; Kudla, Janusz

    2017-01-01

    The paper addresses the problem of the financial regulations' impact on the share of private financing in higher education institutions (HEIs). The authors postulate the trade-off between the size and stability of public financing and the regulations fostering stability of HEIs' funds. If the public sources are insufficient then the regulations…

  15. Higher Education Decisions in Peru: On the Role of Financial Constraints, Skills, and Family Background

    Science.gov (United States)

    Castro, Juan F.; Yamada, Gustavo; Arias, Omar

    2016-01-01

    This paper analyzes the relative importance of short-term financial constraints "vis-a-vis" skills and other background factors when explaining higher education access in Peru. We focus on the disparities in university enrollment between rich and poor households. We use a novel household survey that includes special tests to measure…

  16. Detrended fluctuation analysis based on higher-order moments of financial time series

    Science.gov (United States)

    Teng, Yue; Shang, Pengjian

    2018-01-01

    In this paper, a generalized method of detrended fluctuation analysis (DFA) is proposed as a new measure to assess the complexity of a complex dynamical system such as stock market. We extend DFA and local scaling DFA to higher moments such as skewness and kurtosis (labeled SMDFA and KMDFA), so as to investigate the volatility scaling property of financial time series. Simulations are conducted over synthetic and financial data for providing the comparative study. We further report the results of volatility behaviors in three American countries, three Chinese and three European stock markets by using DFA and LSDFA method based on higher moments. They demonstrate the dynamics behaviors of time series in different aspects, which can quantify the changes of complexity for stock market data and provide us with more meaningful information than single exponent. And the results reveal some higher moments volatility and higher moments multiscale volatility details that cannot be obtained using the traditional DFA method.

  17. Financial Literacy, Retirement Planning, and Household Portfolio Behavior: Four Empirical Contributions

    NARCIS (Netherlands)

    van Rooij, M.C.J.

    2009-01-01

    This thesis provides empirical evidence on financial skills and the relation with household financial decision-making based upon specially designed questions for the DNB Household Survey (DHS). The majority of the respondents has some grasp of concepts such as interest compounding, inflation, and

  18. Analyzing of the self reported ICT literacy level of Slovakian and Serbian Students in the higher education

    Directory of Open Access Journals (Sweden)

    Kiss Gabor

    2017-01-01

    Full Text Available The students generally use technology for communication in the European Union and outside of the Union. First of all we have to see in this research the ICT knowledge level of the students in the higher education to make decision about the application and retraining methods. It is important to know can we find any difference in ICT literacy between the Slovakian and the Serbian students to see how long is the way to finish the ICT revolution in these countries. On the other hand is it important to see which topic need more attention from the teachers in the high school to give a good knowledge for the student before they go in the higher education. We measured the ICT literacy level with a tool consisting of 15 items (Likert scaled. The data analysis was performed with SPSS software using descriptive statistics and Mann-Whitney test.

  19. The ACRL framework for information literacy in higher education: implications for health sciences librarianship.

    Science.gov (United States)

    Knapp, Maureen; Brower, Stewart

    2014-01-01

    The Association of College and Research Libraries is developing a new framework of information literacy concepts that will revise and replace the previously adopted standards. This framework consists of six threshold concepts that are more flexible than the original standards, and that work to identify both the function and the feelings behind information literacy education practices. This column outlines the new tentative framework with an eye toward its implications for health sciences libraries, and suggests ways the medical library community might work with this new document.

  20. Reshaping Computer Literacy Teaching in Higher Education: Identification of Critical Success Factors

    Science.gov (United States)

    Taylor, Estelle; Goede, Roelien; Steyn, Tjaart

    2011-01-01

    Purpose: Acquiring computer skills is more important today than ever before, especially in a developing country. Teaching of computer skills, however, has to adapt to new technology. This paper aims to model factors influencing the success of the learning of computer literacy by means of an e-learning environment. The research question for this…

  1. Assessing the Dimensionality and Educational Impacts of Integrated ICT Literacy in the Higher Education Context

    Science.gov (United States)

    Tadesse, Tefera; Gillies, Robyn M.; Campbell, Chris

    2018-01-01

    The purpose of this paper is threefold: first, to introduce a conceptual model for assessing undergraduate students' integrated information and communication technology (ICT) literacy capacity that involves 12 items generated from the modified version of the Australasian Survey of Student Engagement (AUSSE) questionnaire (Coates, 2010); second, to…

  2. Empower the consumer! : Energy-related financial literacy and its socioeconomic determinants

    NARCIS (Netherlands)

    Blasch, J.E.; Boogen, Nina; Daminato, Claudio; Filippini, Massimo

    To be aware of the potential for energy savings in their homes, individuals need specific energy-related and financial knowledge. In addition, they also need the cognitive skills to apply this knowledge, for example when it comes to the calculation of the lifetime cost of household appliances or

  3. Private Sector/Educator Collaboration: Project Improves Financial, Economic Literacy of America's Youth

    Science.gov (United States)

    Haynes, Deborah C.; Chinadle, Nicole

    2007-01-01

    The Family Economics and Financial Education Project (FEFE) began in 2001 at Montana State University with an annual grant from Take Charge America, Inc., a credit counseling and debt management company headquartered in Phoenix, Arizona. FEFE's mission is to provide educators with curriculum materials and training to be effective teachers of…

  4. Identifying the Financial Literacy Skills Necessary to Run a Small New Zealand Business

    Science.gov (United States)

    Samkin, Grant; Pitu, Elizabeth; Low, Mary

    2014-01-01

    The objectives of this paper are to identify the financial skills small business owners believe necessary to be successful in business, and to establish whether there is a role for secondary school accounting in contributing to the learning of these skills. A combination of a social network website and snowball sampling technique was used to…

  5. 75 FR 68402 - Open Meeting of the President's Advisory Council on Financial Capability

    Science.gov (United States)

    2010-11-05

    ... to the Administration on means to effectively implement the Federal Financial Literacy and Education Commission's National Strategy for Financial Literacy 2010. Representatives of the Financial Literacy and... DEPARTMENT OF THE TREASURY Open Meeting of the President's Advisory Council on Financial...

  6. Factors in the development of higher levels of reading literacy: Argumentation skills in educational practice

    Directory of Open Access Journals (Sweden)

    Branković Marija

    2013-01-01

    Full Text Available The highest levels of reading literacy, as defined within PISA study, include the ability to use various cognitive skills, with argumentative skills being one of the most important among them. In the present study our goal was to reveal some of the factors that influence the development of argumentative skills in Serbian schools. We investigated the extent to which argumentative skills are required in PISA reading literacy tasks, as well as the specific difficulties our students have faced on these tasks, through an analysis of student performance. We also conducted an analysis of the educational practice - by doing in-depth interviews with teachers and content analysis of students' textbooks. The results revealed that: 1 Argumentations skills are an important requirement within PISA tasks; 2 Serbian students are mostly successful at basic tasks of recognizing arguments or providing arguments for the given position; they face difficulties answering the tasks which require precise formulation of relevant arguments as well as those demanding meta-cognitive skills (e.g. recognizing persuasive strategies in the given text. Their performance is particularly poor on tasks requiring the combination of information from different sources or information presented in different formats (text, tables, or graphs; 3 There is a significant gap between the requirements for argumentation skills our students usually encounter and PISA reading literacy tasks. In this paper we discuss some of the difficulties and obstacles to encouraging the development of argumentative thinking.

  7. Financial Mechanisms for Integrating Higher Education of Ukraine into the Quadrangle “Education — Government — Business — Society”

    Directory of Open Access Journals (Sweden)

    Verbytska Anna V.

    2018-03-01

    Full Text Available The aim of the article is to identify the financial mechanisms for integrating higher education of Ukraine into the quadrangle “education — government – business — society”, which are intended for increasing the international competitiveness of higher education of Ukraine. There substantiated the formation of a new national financial strategy in the field of higher education, which is based on the introduction of a mechanism for distributing financial responsibility between the state and consumers of educational services represented by employers and business structures, which can be implemented within multi-channel financing; adaptation of the experience in creation of endowment funds as a tool for additional financing of the higher education system; increase in the effectiveness of the export policy in the market for educational services. The principle of performance-based budgeting of higher education and its coordination with the concept of effective financial management is revealed.

  8. Why Does Media Literacy Matter?

    Science.gov (United States)

    Sargant, Naomi

    2004-01-01

    Media literacy is taking its place in the array of literacies increasingly recognised as necessary for participating actively in democracy or, indeed, in day-to-day life. Financial literacy is another current example. "Literacy" is a term now widely used in relation to adults. The Oxford English Dictionary describes it as a…

  9. New Way to Break Down Barriers to Higher Education: Build "Financial Capabilities"

    Science.gov (United States)

    Savage, Sarah; Graves, Erin M.

    2015-01-01

    Community colleges have traditionally responded to the financial needs of their students by removing or minimizing financial barriers to attending. Efforts to make community college tuition free fit with this philosophy, but where efforts to minimize or remove financial barriers to attending community college fall short is in empowering students…

  10. Does literacy improve finance?

    Science.gov (United States)

    Poon, Martha; Olen, Helaine

    2015-04-01

    When economists ask questions about basic financial principles, most ordinary people answer incorrectly. Economic experts call this condition "financial illiteracy," which suggests that poor financial outcomes are due to a personal deficit of reading-related skills. The analogy to reading is compelling because it suggests that we can teach our way out of population-wide financial failure. In this comment, we explain why the idea of literacy appeals to policy makers in the advanced industrial nations. But we also show that the narrow skill set laid out by economists does not satisfy the politically inclusive definition of literacy that literacy studies fought for. We identify several channels through which people engage with ideas about finance and demonstrate that not all forms of literacy will lead people to the educational content prescribed by academic economists. We argue that truly financial literate people can defy the demands of financial theory and financial institutions. © The Author(s) 2015.

  11. Promoting Financial Literacy and Latino Males' Success at Community Colleges

    Science.gov (United States)

    Salinas, Cristobal, Jr.; Hidrowoh, Jacob R.

    2018-01-01

    Latino males across the country enroll in community colleges with the purpose of obtaining an educational degree, which could lead to accomplishing professional and personal aspirations. Even if Latino male students enroll in post-secondary education, they continue to be disenfranchised, vanished, and often rejected through the higher education…

  12. First-Generation Female College Students' Financial Literacy: Real and Perceived Barriers to Degree Completion

    Science.gov (United States)

    Eitel, Susan J.; Martin, Jennifer

    2009-01-01

    First-generation female college students (FGFCS) make up a large portion of the diversity in higher education. Unfortunately "access" to education does not translate to success. Persistence and degree completion for these students is often undermined by seemingly insurmountable obstacles. The purposes of this study were to identify the financial…

  13. Characteristics of companies with a higher risk of financial statement fraud: Five case studies

    OpenAIRE

    Elda du Toit; Frans N.S. Vermaak

    2015-01-01

    Various characteristics can be observed in the financials and the behaviour of companies engaging in accounting irregularities. This article explores the usefulness of such characteristics by analysing the financial statements of five companies accused of alleged accounting irregularities. The analysis involves quantitative and qualitative analyses for each of the companies, compared to a relevant control sample. The quantitative study consisted of financial statement analyses. The qualitativ...

  14. Financial Autonomy and Challenges to Being a Regionally Responsive Higher Education Institution

    Science.gov (United States)

    Kohtamaki, Vuokko; Lyytinen, Anu

    2004-01-01

    This paper discusses some current problems and challenges of the Finnish AMKs (polytechnic institutions), and whether financial autonomy could contribute to finding solutions for some of these problems. It provides an overview of the current status of financial autonomy of polytechnics in 6 European countries, and finally attempts to find links…

  15. TO THE QUESTION OF MODELS OF ANALYSIS ASSESSING FINANCIAL CONDITION OF THE EDUCATIONAL ORGANIZATION OF HIGHER EDUCATION

    Directory of Open Access Journals (Sweden)

    A. Galushkin

    2016-01-01

    Full Text Available In this article, author discusses model of analysis assessing the financial condition of the educational organization of higher education. Author analyzes the sequence (algorithm analysis of fi nancial and economic activity of the educational organization of higher education in the process of separating the analysis of questions of the analysis of the state educational institutions of higher education and non-state educational institutions of higher education. Author also deals with the determination of the average annual values of indicators of educational institution of higher education. In conclusion, the author makes a scientifi cally-based own conclusions and gives a number of suggestions.Goal / task. Aim of the article is to identify further ways of optimizing the financial condition of the educational organization of higher education.Methodology. Author started his research with the setting and the formulation of research objectives. The author defined the subject of the study, prepared by the empirical basis of the study.Results. According to the results of the study produced five research-based fi ndings presented in the article.Conclusions / signifi cance. 1. Analysis of the financial condition of the educational institutions of higher education can be defi ned as a complex and complex economic studies to identify patterns of the system factors in the financial well-being, the subject of analysis of educational, teaching, research and related activities.2. Integral assessment of the conditions of the financial analysis of the educational institution of higher education leads to the conclusion that it should include a number of stages.3. Analysis of the financial condition of the educational institution of higher education should be characterized as a specific type of analytical work. However, it is obvious that it can not be a simple kind of financial analysis of its object, and is a special form of research. The most significant

  16. PENGARUH STATUS SOSIAL EKONOMI ORANG TUA, KELOMPOK TEMAN SEBAYA DAN FINANCIAL LITERACY TERHADAP PERILAKU KONSUMTIF PADA SISWA KELAS XI IPS SMA KESATRIAN 1 SEMARANG TAHUN AJARAN 2015/2016

    Directory of Open Access Journals (Sweden)

    Yasinta Aulia Nurachma

    2017-06-01

    Full Text Available Tujuan penelitian ini untuk mendeskripsikan pengaruh status sosial ekonomi orang tua, kelompok teman sebaya dan financial literacy terhadap perilaku konsumtif siswa, baik secara simultan maupun parsial. Populasi dalam penelitian ini adalah siswa XI IPS SMA Kesatrian 1 Semarang tahun ajaran 2015/2016 yang berjumlah 131 siswa. Metode pengumpulan data berupa angket. Metode analisis data yang digunakan adalah analisis statistik deskriptif dan analisis regresi linear berganda. Hasil penelitian menunjukkan bahwa (1 ada pengaruh positif status sosial ekonomi orang tua terhadap perilaku konsumtif siswa secara parsial sebesar 13,91%, (2 ada pengaruh positif kelompok teman sebaya terhadap perilaku konsumtif siswa secara parsial sebesar 12,81%, dan (3 ada pengaruh negatif financial literacy terhadap perilaku konsumtif siswasecara parsial sebesar 8,58%. Status sosial ekonomi orang tua, kelompok teman sebaya dan financial literacy secara simultan berpengaruh terhadap perilaku konsumtif siswa sebesar 35%. The purpose of this study is to describe influence of socio-economic status of parents, peer groups and financial literacy of the consumptive behavior of students, either simultaneously or partially. The population in this research were students XI IPS SMA Kesatrian 1 Semarang Academic Year 2015/2016, totally 131 students. Methods in the form of a questionnaire. The analytical method used is descriptive statistical analysis and multiple linear regression analysis. Based on the results of the search are (1 the positive influence of socio-economic status of parents to the students consumptive behavior partially level is 13.91%, (2 the positive influence of peer groups to the students consumptive behavior partially level is 12.81%, and (3 thenegative influence of financial literacy to the students consumptive behavior partially levelis 8.58%. Socio-economic status of parents, peer groups and financial literacy simultaneously influence to the students

  17. Financial Education in TRIO Programs. Institutional Policy Brief

    Science.gov (United States)

    Yang, Hannah; Kezar, Adrianna

    2009-01-01

    To address some of the financial challenges facing low-income students, federal policymakers enacted a provision in the 2008 Higher Education Opportunity Act (HEOA) that makes financial literacy a required service of all TRIO programs (or, in the case of McNair, simply makes permissible). Effective August 2008, these programs started offering…

  18. Financial Health of the Higher Education Sector: 2015-16 to 2018-19 Forecasts. Data Analysis. November 2016/34

    Science.gov (United States)

    Higher Education Funding Council for England, 2016

    2016-01-01

    This report provides an overview of the forecast financial health of the HEFCE-funded higher education (HE) sector in England. The analysis covers the financial forecasts for the period 2015-16 to 2018-19, based on information submitted by higher education institutions (HEIs) to HEFCE in July 2016. Financial Reporting Standard (FRS) 102 is the new…

  19. THE ROLE OF FINANCIAL EDUCATION IN DEVELOPING THE FINANCIAL SERVICES MARKET

    OpenAIRE

    Ivanka Daneva

    2015-01-01

    Considering the current complexity of financial markets and of financial instruments and services, financial education is part of population’s financial literacy and it ranks as paramount factor in the complex for the financial markets development.

  20. Digital Curation as a Core Competency in Current Learning and Literacy: A Higher Education Perspective

    Science.gov (United States)

    Ungerer, Leona M.

    2016-01-01

    Digital curation may be regarded as a core competency in higher education since it contributes to establishing a sense of metaliteracy (an essential requirement for optimally functioning in a modern media environment) among students. Digital curation is gradually finding its way into higher education curricula aimed at fostering social media…

  1. Missing in Action: Writing Process-Based Instructional Practices and Measures of Higher-Order Literacy Achievement in Predominantly Urban Elementary Schools

    Science.gov (United States)

    Briddell, Andrew

    2013-01-01

    This study of 1,974 fifth grade students investigated potential relationships between writing process-based instruction practices and higher-order thinking measured by a standardized literacy assessment. Writing process is defined as a highly complex, socio-cognitive process that includes: planning, text production, review, metacognition, writing…

  2. From "Financial Considerations" to "Poverty": Towards a Reconceptualisation of the Role of Finances in Higher Education Student Drop Out

    Science.gov (United States)

    Breier, Mignonne

    2010-01-01

    While the role of financial considerations in higher education student dropout is being recognized increasingly, the dominant international literature fails to reflect the extent of socio-economic deprivation among students in countries where many people live below the poverty datum line. This article draws on a study of student retention and…

  3. Fact Sheet: LGBT Discrimination in Higher Education Financial Aid--Assistance Should Be Allocated on Need, Not Sexual Orientation

    Science.gov (United States)

    Burns, Crosby

    2012-01-01

    Through the Free Application for Federal Student Aid, or FAFSA, the federal government provides more financial aid for higher education than any other institution. But because of discriminatory laws the FAFSA treats families headed by two mothers or two fathers differently than families headed by a mother and a father. This treatment distributes…

  4. Decline in Literacy and Incident AD Dementia Among Community-Dwelling Older Persons.

    Science.gov (United States)

    Yu, Lei; Wilson, Robert S; Han, S Duke; Leurgans, Sue; Bennett, David A; Boyle, Patricia A

    2017-06-01

    To quantify longitudinal change in financial and health literacy and examine the associations of declining literacy with incident Alzheimer's disease (AD) dementia and mild cognitive impairment (MCI). Data came from 799 participants of an ongoing cohort study. Literacy was measured using a battery of 32 questions. Clinical diagnoses were made annually following uniform structured procedures. The associations of declining literacy with incident AD dementia and MCI were tested using a joint model for longitudinal and time-to-event data. We observed an overall decline in total literacy score over up to 6 years of follow-up ( p literacy was associated with higher risks for incident AD dementia (hazard ratio = 4.526, 95% confidence interval = [2.993, 6.843], p literacy among community-dwelling older persons predicts adverse cognitive outcomes and serves as an early indicator of impending dementia.

  5. In-Service Teacher Education: Asking Questions for Higher Order Thinking in Visual Literacy

    Science.gov (United States)

    Moodley, Visvaganthie

    2013-01-01

    The kinds of questions teachers ask may thwart or promote learner high-order thinking; teachers themselves must have expertise in questioning skills to promote higher order cognition among learners. Drawing on experiential knowledge of assessment, and as an English-teaching professional development programme (PDP) facilitator, I demonstrate that…

  6. Characteristics of companies with a higher risk of financial statement fraud: Five case studies

    Directory of Open Access Journals (Sweden)

    Elda du Toit

    2015-04-01

    Full Text Available Various characteristics can be observed in the financials and the behaviour of companies engaging in accounting irregularities. This article explores the usefulness of such characteristics by analysing the financial statements of five companies accused of alleged accounting irregularities. The analysis involves quantitative and qualitative analyses for each of the companies, compared to a relevant control sample. The quantitative study consisted of financial statement analyses. The qualitative study involved an analysis of the narrative reports that form part of the published annual report. Nine of the characteristics initially identified were not reliable indicators of accounting irregularities. However, the nine remaining characteristics were positive indicators for the detection of accounting irregularities. Eight additional characteristics, not initially identified, were noted as potential indicators of accounting irregularities.

  7. The Effects of Financial Aid Policies on Student Persistence in Taiwanese Higher Education

    Science.gov (United States)

    Lin, Ching-Hui

    2014-01-01

    The purpose of this study was to examine the effects of financial aid policies on student persistence between the first and second year at a private four-year postsecondary institution in Taiwan. A two-phase sequential research design was employed with priority was given to the quantitative data--structural equation modeling (SEM). While the…

  8. Examining the Effects of Financial Aid on Student Persistence in Taiwanese Higher Education

    Science.gov (United States)

    Lin, Ching-Hui

    2016-01-01

    The purpose of this study was to examine the effects of financial aid policies on student persistence between the first and second year at a private four-year postsecondary institution in Taiwan. A two-phase sequential research design was employed with priority was given to the quantitative data-structural equation modeling (SEM). While the…

  9. Determining a Relationship between Higher Education Financial Position and Tuition Discount Rates

    Science.gov (United States)

    Browning, Julianna

    2013-01-01

    Institutions have increased the practice of tuition discounting, that is, the strategic use of price discrimination. During the past 30 years, both the average percent discount given to students and the proportion of students receiving tuition breaks have increased. As this practice has increased, there are financial determinants and implications…

  10. More "Private" than Private Institutions: Public Institutions of Higher Education and Financial Management

    Science.gov (United States)

    Adams, Olin L., III; Robichaux, Rebecca R.; Guarino, A. J.

    2010-01-01

    This research compares the status of managerial accounting practices in public four-year colleges and universities and in private four-year colleges and universities. The investigators surveyed a national sample of chief financial officers (CFOs) at two points in time, 1998-99 and 2003-04. In 1998-99 CFOs representing private institutions reported…

  11. Computational Literacy

    DEFF Research Database (Denmark)

    Chongtay, Rocio; Robering, Klaus

    2016-01-01

    In recent years, there has been a growing interest in and recognition of the importance of Computational Literacy, a skill generally considered to be necessary for success in the 21st century. While much research has concentrated on requirements, tools, and teaching methodologies for the acquisit......In recent years, there has been a growing interest in and recognition of the importance of Computational Literacy, a skill generally considered to be necessary for success in the 21st century. While much research has concentrated on requirements, tools, and teaching methodologies...... for the acquisition of Computational Literacy at basic educational levels, focus on higher levels of education has been much less prominent. The present paper considers the case of courses for higher education programs within the Humanities. A model is proposed which conceives of Computational Literacy as a layered...

  12. Information literacy: Educate through literacy

    OpenAIRE

    Atjo, Nur Amanah Ilham; Pratama, Muhammad Fadhil

    2017-01-01

    The concepts and terms about “Information Literacy” has become general study in education studies. Information literacy is pivotal in this global world where the information literacy equip a person’s ability to access, understand and use the information intelligently. In higher education, in the learning process, students should be able to get used to a new way in education. Students must independently by finding, training themselves and absorbing the education material from lecturers. The de...

  13. The Role of the Government in Providing Access to Higher Education: The Case of Government-Sponsored Financial Aid in the US

    Science.gov (United States)

    Landry, Lynette; Neubauer, Deane

    2016-01-01

    The overall financial structure of US higher education has changed dramatically over the past 30 years, resulting in a significant reduction of public funding. One result of this shift has been the steadily increasing costs of tuition as an increasing portion of the financial structure of higher education is shifted to students. Increased costs to…

  14. How Do Higher Education Institutions Enhance Their Financial Autonomy? Examples from Finnish Polytechnics

    Science.gov (United States)

    Kohtamaki, Vuokko

    2011-01-01

    Numerous studies have addressed how state authorities and public funding bodies control, regulate, steer, supervise or oversee higher education institutions. There are fewer studies on how higher education institutions respond to the actions of the mentioned authorities. States have aimed at increasing the autonomy of higher education…

  15. Health literacy in Europe: comparative results of the European health literacy survey (HLS-EU).

    Science.gov (United States)

    Sørensen, Kristine; Pelikan, Jürgen M; Röthlin, Florian; Ganahl, Kristin; Slonska, Zofia; Doyle, Gerardine; Fullam, James; Kondilis, Barbara; Agrafiotis, Demosthenes; Uiters, Ellen; Falcon, Maria; Mensing, Monika; Tchamov, Kancho; van den Broucke, Stephan; Brand, Helmut

    2015-12-01

    Health literacy concerns the capacities of people to meet the complex demands of health in modern society. In spite of the growing attention for the concept among European health policymakers, researchers and practitioners, information about the status of health literacy in Europe remains scarce. This article presents selected findings from the first European comparative survey on health literacy in populations. The European health literacy survey (HLS-EU) was conducted in eight countries: Austria, Bulgaria, Germany, Greece, Ireland, the Netherlands, Poland and Spain (n = 1000 per country, n = 8000 total sample). Data collection was based on Eurobarometer standards and the implementation of the HLS-EU-Q (questionnaire) in computer-assisted or paper-assisted personal interviews. The HLS-EU-Q constructed four levels of health literacy: insufficient, problematic, sufficient and excellent. At least 1 in 10 (12%) respondents showed insufficient health literacy and almost 1 in 2 (47%) had limited (insufficient or problematic) health literacy. However, the distribution of levels differed substantially across countries (29-62%). Subgroups within the population, defined by financial deprivation, low social status, low education or old age, had higher proportions of people with limited health literacy, suggesting the presence of a social gradient which was also confirmed by raw bivariate correlations and a multivariate linear regression model. Limited health literacy represents an important challenge for health policies and practices across Europe, but to a different degree for different countries. The social gradient in health literacy must be taken into account when developing public health strategies to improve health equity in Europe. © The Author 2015. Published by Oxford University Press on behalf of the European Public Health Association.

  16. Implementing the Strategy for financial reform of higher education in Mozambique (EFES)

    NARCIS (Netherlands)

    Fonteyne, Bart; Jongbloed, B.W.A.

    2018-01-01

    This report describes the results of more than fifteen years of cooperation between the Government of Mozambique, the Government of the Netherlands, the Mozambican higher education institutions and the relevant stakeholders in designing and implementing reforms in the financing of higher education

  17. Impact of Recent Trends in Information and Communication Technology on the Validity of the Construct Information Literacy in Higher Education

    NARCIS (Netherlands)

    A.A.J. (Jos) van Helvoort

    2010-01-01

    The objective of this paper is a reflective discussion on the validity of the construct Information Literacy in the perspective of changing information and communication technologies. The research question that will be answered is: what is the impact of technological developments on the relevance of

  18. Benefits literacy, Bugs Bunny and bridge.

    Science.gov (United States)

    Moses, John; Hogg, Barbara

    2009-01-01

    The human resources world is buzzing about literacy--specifically, financial literacy and health literacy. Yet if employers truly want their employees to take action based on that literacy, then employers must add motivation and process simplification to their benefits equation. This article provides employers with things to keep in mind in order to deliver content that improves employees' benefits literacy, and makes taking desired actions both relevant and easy for employees.

  19. Representing Swiss Vocational Education and Training Teachers' Domain-Specific Conceptions of Financial Literacy Using Concept Maps

    Science.gov (United States)

    Leumann, Seraina

    2017-01-01

    Issues related to financial matters are an integral component of the curricula in vocational education and training in Switzerland. However, the differences between students' competences are caused not only by the curricula but by multiple factors. One key factor is teachers' characteristics that support successful learning processes. Teachers'…

  20. Why Information Literacy Is Invisible

    Directory of Open Access Journals (Sweden)

    William Badke

    2011-03-01

    Full Text Available Despite the many information literacy programs on higher education campuses, the literature of information literacy and the concept of information literacy as a viable academic subject remain hidden to most professors and academic administrators. Information literacy is invisible to academia because it is misunderstood, academic administrators have not put it on their institutions' agendas, the literature of information literacy remains in the library silo, there is a false belief that information literacy is acquired only by experience, there is a false assumption that technological ability is the same as information literacy, faculty culture makes information literacy less significant than other educational pursuits, faculty have a limited perception of the ability of librarians. and accrediting bodies have not yet advanced information literacy to a viable position in higher education. The new information age demands that these barriers be overcome and information literacy take a prominent place within the academic experience.

  1. Performance Funding in Higher Education: Do Financial Incentives Impact College Completions?

    Science.gov (United States)

    Hillman, Nicholas W.; Tandberg, David A.; Gross, Jacob P. K.

    2014-01-01

    In 2000, the Pennsylvania State System of Higher Education introduced a performance-based funding model aimed at increasing degree productivity among the state's public colleges. This study examines how the new policy affected undergraduate degree completions. Using a difference-in-differences estimation strategy, results suggest the policy has…

  2. Why Information Literacy Is Invisible

    OpenAIRE

    William Badke

    2011-01-01

    Despite the many information literacy programs on higher education campuses, the literature of information literacy and the concept of information literacy as a viable academic subject remain hidden to most professors and academic administrators. Information literacy is invisible to academia because it is misunderstood, academic administrators have not put it on their institutions' agendas, the literature of information literacy remains in the library silo, there is a false belief that infor...

  3. STUDENT’S PERCEPTION TOWARDS FINANCIAL LITERACY – A STUDY WITH SPECIAL REFERENCE TO DEGREE STUDENTS OF SDM COLLEGE UJIRE

    OpenAIRE

    Gurudath Shenoy; Prasad Kumar; S. N. Sandesh

    2016-01-01

    Today students are future pillars of our nation. When they start their own careers and plan for savings and investments they should have adequate knowledge about savings and investments. To inculcate the habits of savings it is very essential for every students to know and understand how financial investments are and what benefits they can receive by parking their own funds and also the funds received from parents in the form of gifts, pocket money etc. due to changing conditions in employmen...

  4. Framing Information Literacy

    OpenAIRE

    Anneke Dirkx

    2016-01-01

    In 2000 the Association of College & Research Libraries (ACRL) published the Standards for Information Literacy. After 15 years these standards were in desperate need of revision. Instead of releasing a revised edition of the Standards, in 2015 ACRL presented a completely new vision on information literacy in higher education. In this keynote we will explore the new ACRL Framework for Information Literacy in all its glory. We will compare it to the old standards. Is this new American Fram...

  5. Financial Autonomy as a Necessary Condition for the Functioning of Public Institutions of Higher Education in Ukraine

    Directory of Open Access Journals (Sweden)

    Vynogradnya Vita

    2016-11-01

    Full Text Available The article analyzes the main directions of development of financial autonomy of universities. The alternative sources of funding universities in terms of the lack of funding are determined. It has been found out that the proper organization of financial structure and expansion of the areas of fundraising by universities contributes to their competitiveness.

  6. Effect of Financial Stress and Positive Financial Behaviors on Cost-Related Nonadherence to Health Regimens Among Adults in a Community-Based Setting.

    Science.gov (United States)

    Patel, Minal R; Kruger, Daniel J; Cupal, Suzanne; Zimmerman, Marc A

    2016-04-07

    Little is known about the role of positive financial behaviors (behaviors that allow maintenance of financial stability with financial resources) in mitigating cost-related nonadherence (CRN) to health regimens. This study examined the relationships between positive financial behaviors, financial stress, and CRN. Data came from the 2011 Speak to Your Health! Community Survey (n = 1,234). Descriptive statistics were computed to examine financial stress and CRN, by chronic condition and health insurance status. We used multivariate logistic regression models to examine the relationship between positive financial behaviors and financial stress and their interaction on a composite score of CRN, controlling for health insurance status, educational level, age, marital status, number of chronic conditions, and employment status. Thirty percent of the sample engaged in CRN. Participants reported moderate financial stress (mean, 13.85; standard deviation [SD] = 6.97), and moderate positive financial behavior (mean, 8.84; SD = 3.24). Participants with employer-sponsored insurance, Medicaid, Medicare, the Genesee Health Plan, high blood pressure, asthma, and diabetes had the highest proportion of CRN. The relationship between financial stress and CRN was not significantly different between those who reported lower versus higher levels of positive financial behavior (P = .32). Greater financial stress was associated with a greater likelihood of CRN (odds ratio [OR] = 2.49; 95% confidence interval [CI], 2.08-2.99). Higher level of positive financial behavior was associated with a lower likelihood of CRN (OR = 0.80; 95% CI, 0.67-0.94). Financial literacy as a means of promoting positive financial behavior may help reduce CRN. An intervention strategy focused on improving financial literacy may be relevant for high-risk groups who report high levels of financial stress.

  7. 34 CFR 1100.1 - What is the Literacy Leader Fellowship Program?

    Science.gov (United States)

    2010-07-01

    ... of the National Institute for Literacy provides financial assistance to outstanding individuals who... 34 Education 3 2010-07-01 2010-07-01 false What is the Literacy Leader Fellowship Program? 1100.1... INSTITUTE FOR LITERACY NATIONAL INSTITUTE FOR LITERACY: LITERACY LEADER FELLOWSHIP PROGRAM § 1100.1 What is...

  8. Marketing Information Literacy

    Science.gov (United States)

    Seale, Maura

    2013-01-01

    In 2012, more than a decade after the original Association of College and Research Libraries (ACRL) Information Literacy Competency Standards for Higher Education (hereafter the Standards) were institutionalized as the goal of academic library instruction, the Information Literacy Competency Standards Review Task Force convened by ACRL recommended…

  9. The Intersection of Information and Science Literacy

    Science.gov (United States)

    Klucevsek, Kristin

    2017-01-01

    To achieve higher science literacy, both students and the public require discipline-specific information literacy in the sciences. Scientific information literacy is a core component of the scientific process. In addition to teaching how to find and evaluate resources, scientific information literacy should include teaching the process of…

  10. Relocalising academic literacy

    DEFF Research Database (Denmark)

    Clemensen, Nana; Holm, Lars

    2017-01-01

    This article contributes to the continuing discussion about academic literacy in international higher education. Approaching international study programmes as temporary educational contact zones, marked by a broad diversity in students’ educational and discursive experiences, we examine the negot......This article contributes to the continuing discussion about academic literacy in international higher education. Approaching international study programmes as temporary educational contact zones, marked by a broad diversity in students’ educational and discursive experiences, we examine...... the negotiation and relocalisation of academic literacy among students of the international master’s programme, Anthropology of Education and Globalisation (AEG), University of Aarhus, Denmark. The article draws on an understanding of academic literacy as a local practice situated in the social and institutional...... contexts in which it appears. Based on qualitative interviews with eleven AEG-students, we analyse students’ individual experiences of, and perspectives on, the academic literacy practices of this study programme. Our findings reveal contradictory understandings of internationalism and indicate a learning...

  11. Personal Biometric Information from Wearable Technology Tracked and Followed Using an ePortfolio: A Case Study of eHealth Literacy Development with Emerging Technology in Hong Kong Higher Education

    Science.gov (United States)

    Notari, Michele; Sobko, Tanja; Churchill, Daniel

    2016-01-01

    In this paper we will show our research approach and discuss potential outcomes. The research project started in January 2016. To understand eHealth literacy development in higher education in Hong Kong, the researchers will conduct a multiple case study including 20 students from an undergraduate course. Each of them will use a wearable device…

  12. Low Health Literacy Is Associated with Increased Transitional Care Needs in Hospitalized Patients.

    Science.gov (United States)

    Boyle, Joseph; Speroff, Theodore; Worley, Katherine; Cao, Aize; Goggins, Kathryn; Dittus, Robert S; Kripalani, Sunil

    2017-11-01

    To examine the association of health literacy with the number and type of transitional care needs (TCN) among patients being discharged to home. A cross-sectional analysis of patients admitted to an academic medical center. Nurses administered the Brief Health Literacy Screen and documented TCNs along 10 domains: caregiver support, transportation, healthcare utilization, high-risk medical comorbidities, medication management, medical devices, functional status, mental health comorbidities, communication, and financial resources. Among the 384 patients analyzed, 113 (29%) had inadequate health literacy. Patients with inadequate health literacy had needs in more TCN domains (mean = 5.29 vs 4.36; P literacy were significantly more likely to have TCNs in 7 out of the 10 domains. In multivariate analyses, inadequate health literacy remained significantly associated with inadequate caregiver support (odds ratio [OR], 2.61; 95% confidence interval [CI], 1.37-4.99) and transportation barriers (OR, 1.69; 95% CI, 1.04-2.76). Among hospitalized patients, inadequate health literacy is prevalent and independently associated with other needs that place patients at a higher risk of adverse outcomes, such as hospital readmission. Screening for inadequate health literacy and associated needs may enable hospitals to address these barriers and improve postdischarge outcomes. © 2017 Society of Hospital Medicine

  13. Alfabetización informacional en la educación superior virtual: logros y desafíos Informational Literacy in Virtual Higher Education: Achievements and Challenges

    Directory of Open Access Journals (Sweden)

    Clelia Pineda Báez

    2012-06-01

    ' information literacy to find out about possible ruptures, transformations, advantages, problems and solutions that emerge from this form of education. The study used a quantitative and qualitative approach to gather information from teachers, coordinators, tutors and students from 9 higher education institutions. Results show that efforts to improve students' information literacy have been undertaken; however a greater collective effort is needed to improve the search for, evaluation and ethical use of information. Implicit here is the need for expert training and the need to reflect upon strategies to combat plagiarism.

  14. Financial intelligence of business process outsourcing professional in Davao City Philippines

    Directory of Open Access Journals (Sweden)

    Samantha Ferraren

    2016-12-01

    Full Text Available This research determined the financial intelligence using the Kiyosaki Cashflow Quadrant. The study employed the Kiyosaki Cashflow Quadrant to classify employees financial intelligence as likely to be an investor, big business owner, self-employed and employed. The Ordinal Regression was employed in determining the parameters of the chosen variables through Maximum Likelihood Estimation (MLE. The results showed that income is a significant factor in the financial intelligence of the Business Process Outsourcing (BPO employees; the higher the income the better is the financial intelligence. The type of BPO employer is a significantly determined by the degree of financial intelligence in the BPO employees in financial services had higher financial intelligence than that of non-financial services. There is a significant relationship between financial literacy and financial intelligence.Although, there were some rank and file employees who earned less, and they may be classified as investor because of their behavior towards money. Financial wellness program for BPO employees in financial and non-financial services alike was recommended to improve financial intelligence to be able to achieve financial freedom .

  15. Reality Check: OK Extension Helps Teachers Meet Financial Education Requirements

    Science.gov (United States)

    St. Pierre, Eileen; Simpson, Mickey; Moffat, Susan; Cothren, Phillis

    2011-01-01

    According to the Jump$tart Coalition, Oklahoma is one of 24 states to adopt financial education requirements for students (Jump$tart Coalition, 2010). The Passport to Financial Literacy Act of 2007, Oklahoma House Bill 1476, requires Oklahoma students in grades 7 through 12 to fulfill established financial literacy requirements to graduate with a…

  16. Financial insight and behaviour of household consumers in Port ...

    African Journals Online (AJOL)

    of this study was to investigate the financial insight and behaviour of household .... investigated the influence of quantitative literacy and material values on personal financial behaviour. .... Analysis of variance (ANOVA) was also conducted to determine ..... 'The financial literacy of micro enterprises in South Africa', Journal of.

  17. Domesticizing Financial Economies

    DEFF Research Database (Denmark)

    Deville, Joe; Lazarus, Jeanne; Luzzi, Mariana

    show. Third, the “domestication of financial economies”: financial literacy programs developed by governmental bodies, international organizations, and banks have become a ubiquitous layer attached to the assemblage of financial economies in many countries. And last but not least, “domesticizing social...... practices as well as the precise way financial providers are evaluating, sorting and targeting their consumers. We believe these diverse trends are starting to converge, and the ambitions of this paper are both to organize scattered literature and to reflect upon the consequences of the new field...

  18. Physical literacy

    OpenAIRE

    Roučka, Ladislav

    2013-01-01

    Topic: Physical literacy Goals: The aproximation of physical literacy, collection and evaluation questionnaires of physical literacy knowledge and students anamnesis. Description of applicants progress in the specific movement skills. Method: Unified questionnaires was used for obtaining informations. We make video for movement analysis. Results: The results didn't obtain our expectation that students are able to express precisely the content of physical literacy by specific skills. However, ...

  19. The effects of perceived and actual financial knowledge on regular personal savings: Case of Vietnam

    Directory of Open Access Journals (Sweden)

    Thi Anh Nhu Nguyen

    2017-06-01

    Full Text Available The paper examines the factors, which affect decision-making on regular personal saving behaviour in the context of an emerging market in Vietnam. Focusing on financial literacy, the paper uses a combined measure of actual financial knowledge and a self-assessment of overall financial knowledge. The sample of the study consists of 240 commercial banks customers selected in 12 branches of four banks in Ho Chi Minh City. The questionnaire covers: (1 actual financial knowledge; (2 self-rating of financial knowledge; (3 financial risk tolerance; and (4 demographic characteristics of the respondents. The results of a logistic regression analysis show that perceived and actual financial literacy have separate effects on regular personal saving. Particularly, actual financial knowledge has a statistically significant positive relationship with regular personal saving with odds ratio higher than 6.5 times. However, perceived financial knowledge and financial risk tolerance factor are not statistically significant with regular personal saving. Finally, this paper offers evidence that the interaction variable, which is used to combine education level with their major study, has a statistically significant relationship with regular personal saving.

  20. Testing the Financial Capability Framework: Findings from YouthSave-Impact Study Kenya.

    Science.gov (United States)

    Kagotho, Njeri; Ssewamala, Fred M; Patak-Pietrafesa, Michele; Byansi, William

    2018-01-01

    In sub-Saharan Africa (SSA), youths (23 years or younger)-who account for almost half the population-are particularly vulnerable to poverty and exclusion from financial markets and intermediaries. In addition, a significant factor in the financial instability of the region appears to be the economic functioning of its youths. In recent years, social work interventions throughout the region have focused on investing in the economic functioning of youths. This study looked at baseline data from one such intervention in Kenya (N = 3,965), using the financial capabilities framework to evaluate the factors related to youths' saving behaviors. Authors investigated the association between youths' financial literacy (that is, knowledge, socialization), financial access, and financial capabilities and savings behaviors. Results indicate that adolescents who rate themselves as financially literate and those living in close proximity to a bank are more likely to report higher capabilities. Furthermore, financial capabilities in turn partially mediate the relationship between financial literacy, access, and savings. Overall, the study's findings point to the positive effect of enhanced financial capabilities among youths and offer support for asset-based interventions targeting youths in SSA. © 2017 National Association of Social Workers.

  1. The Regression Analysis of Individual Financial Performance: Evidence from Croatia

    OpenAIRE

    Bahovec, Vlasta; Barbić, Dajana; Palić, Irena

    2017-01-01

    Background: A large body of empirical literature indicates that gender and financial literacy are significant determinants of individual financial performance. Objectives: The purpose of this paper is to recognize the impact of the variable financial literacy and the variable gender on the variation of the financial performance using the regression analysis. Methods/Approach: The survey was conducted using the systematically chosen random sample of Croatian financial consumers. The cross sect...

  2. Political Literacy as Information Literacy

    OpenAIRE

    Ross Cory Alexander

    2009-01-01

    This paper contends that political literacy and information literacy are compatible concepts that are inextricably linked and should therefore be taught and stressed simultaneously to students in the classroom. Improving the information literacy and political literacy skills of students will allow them to not only perform better academically, but also empower them to become better citizens who form opinions and make decisions based on appropriate and quality information.

  3. A Reconsideration of Information Literacy

    Directory of Open Access Journals (Sweden)

    Stanley J. Wilder

    2013-12-01

    Full Text Available This article is a reflection on the author's 2005 Chronicle of Higher Education article "Information Literacy Makes All the Wrong Assumptions." In it, the author argues that while library instruction is properly grounded in disciplinary norms, information literacy serves a vital institutional obligation as a means of assessing student learning. The content of library instruction thus serves the University's "vertical" disciplinary agendas, while information literacy serves its "horizontal" institution-wide agenda.

  4. Understanding Financial Statements. Financial Matters. Board Basics.

    Science.gov (United States)

    McCarthy, John H.; Turner, Robert M.

    1998-01-01

    This booklet for trustees of higher education institutions offers guidelines to help trustees understand the institution's financial statements. Individual sections describe the three major financial statements and cover topics such as: (1) standards of the Financial Accounting Standards Board; (2) the "statement of financial position,"…

  5. Data Literacy is Statistical Literacy

    Science.gov (United States)

    Gould, Robert

    2017-01-01

    Past definitions of statistical literacy should be updated in order to account for the greatly amplified role that data now play in our lives. Experience working with high-school students in an innovative data science curriculum has shown that teaching statistical literacy, augmented by data literacy, can begin early.

  6. Management of Higher Education with Special Reference to Financial Management in African Institutions. IIEP Contributions, No. 28.

    Science.gov (United States)

    Sanyal, Bikas C.; Martin, Michaela

    This review provides a historical overview of available management techniques for higher education. It describes the techniques of Management by Objectives, Zero-Based Budgeting, Strategic Management, and Total Quality Management and the ways they can be applied to higher education. The paper discusses institutional management practices defining…

  7. 78 FR 20219 - National Financial Capability Month, 2013

    Science.gov (United States)

    2013-04-04

    ... requires smart financial planning. During National Financial Capability Month, we recommit to empowering... Financial Capability Month, 2013 By the President of the United States of America A Proclamation All... financial literacy. We released a new financial capability toolkit to help schools and employers as they...

  8. The Russian Federation:Financial Education and Financial Literacy Project---The Road to the National Strategy%俄罗斯联邦:金融教育与金融扫盲工程--通往国家战略之路

    Institute of Scientific and Technical Information of China (English)

    夏方杰

    2014-01-01

    Russia is making its national financial strategy presently. The paper introduces Russian policy background and the ba-sic situation of the national strategy development, expatiates on the definition, scope and objective of the financial education and fi-nancial literacy project. At the same time, the paper deeply analyzes the preparatory work such as the task, plan, pilot areas, initial in-vestigation which need to be solved in the process of implementing the project.%俄罗斯目前正在制定其金融国家战略,本文对其政策背景与国家战略制定的基本情况进行了介绍,对金融教育和金融扫盲工程的定义、范围和目标进行了阐述。同时,对项目实施进程中需要解决的任务、计划、试点地区,前期调查等准备工作进行了深入分析。

  9. Mainstreaming academic literacy teaching: Implications for how ...

    African Journals Online (AJOL)

    This article draws on research into the role of academic literacies within a range of disciplines and its implications for academic literacy teaching in Higher Education. The study explored ways of transforming current academic literacy teaching practices with a view to developing better synergy between the academic ...

  10. Information Literacy for the Skeptical Library Director.

    Science.gov (United States)

    Breivik, Patricia S.

    This paper begins by providing background on the information literacy movement, including the educational reform efforts of the 1980s, a higher education summit conference, and the 1989 American Library Association (ALA) Presidential Committee on Information Literacy Final Report. Other highlights include: the information literacy triangle;…

  11. A Reconsideration of Information Literacy

    Science.gov (United States)

    Wilder, Stanley J.

    2013-01-01

    This article is a reflection on the author's 2005 Chronicle of Higher Education article "Information Literacy Makes All the Wrong Assumptions." In it, the author argues that while library instruction is properly grounded in disciplinary norms, information literacy serves a vital institutional obligation as a means of assessing student…

  12. Threshold Concepts and Information Literacy

    Science.gov (United States)

    Townsend, Lori; Brunetti, Korey; Hofer, Amy R.

    2011-01-01

    What do we teach when we teach information literacy in higher education? This paper describes a pedagogical approach to information literacy that helps instructors focus content around transformative learning thresholds. The threshold concept framework holds promise for librarians because it grounds the instructor in the big ideas and underlying…

  13. Provider and patient perception of psychiatry patient health literacy

    Directory of Open Access Journals (Sweden)

    Bacon O

    2017-06-01

    Full Text Available Background: Inadequate health literacy in adults is a nationwide issue that is associated with worse health outcomes. There is a paucity of literacy regarding rates of inadequate health literacy in psychiatric populations. Objective: The aim of the study was to identify an existing tool that would easily identify patients who had inadequate health literacy, so that a targeted intervention could be performed. Secondarily we attempted to compare rates of inadequate health literacy with providers’ perception of patients’ health literacy. Methods: We assessed health literacy in a psychiatric population by administering the Brief Health Literacy Survey (BHLS. Additionally, all psychiatry residents, psychiatrists, nurse practitioners, pharmacists, and social workers were surveyed to assess their perception of patient health literacy. Differences between patient health literacy and provider expectations of patient health literacy were compared. Results: Inadequate health literacy was identified in 31 out of 61 patients (50.8% using 2 questions from the BHLS. Only 9 (29% of patients who were identified as having inadequate health literacy were identified by both BHLS questions. In contrast, almost 100% of providers identified their patients, in general, as having inadequate health literacy. Conclusions: These results identify a higher rate of health literacy in a psychiatric inpatient population than in the general population. However, providers at this institution likely over-identify health literacy. This highlights the need for a health literacy tool that can easily target patients with inadequate health literacy for an intervention.

  14. 76 FR 82041 - Open Meeting of the President's Advisory Council on Financial Capability

    Science.gov (United States)

    2011-12-29

    ... subcommittees (Financial Access, Research and Evaluation, Partnerships, and Youth) on their progress; (2) review... on the following strategic areas: National Strategy, Financial Access, Research and Evaluation... 2012 Programme for International Student Assessment financial literacy assessment, and identify funding...

  15. Geographic Media Literacy

    Science.gov (United States)

    Lukinbeal, Chris

    2014-01-01

    While the use of media permeates geographic research and pedagogic practice, the underlying literacies that link geography and media remain uncharted. This article argues that geographic media literacy incorporates visual literacy, information technology literacy, information literacy, and media literacy. Geographic media literacy is the ability…

  16. Health Literacy

    Science.gov (United States)

    ... Improvement, April 19, 2017 Considerations for a New Definition of Health Literacy, April 04, 2016 Health Literacy Online, Office of Disease Prevention & Health Promotion Connect with Us Contact Us Twitter Facebook Instagram YouTube Flickr More Social Media from NIH ...

  17. Early literacy

    DEFF Research Database (Denmark)

    Jensen, Anders Skriver

    2012-01-01

    This paper discusses findings from the Danish contribution to the EASE project, a European research project running from 2008 to 2010 on early literacy in relation to the transition from childcare to school. It explores a holistic, inclusive approach to early literacy that resists a narrow...... and schools. The paper also draws on Gee’s (2001, 2003, 2004, 2008) sociocultural approach to literacy, and Honneth’s (2003, 2006) concept of recognition. Emphasizing participation and recognition as key elements, it claims that stakeholders in early liter- acy must pay attention to how diverse early literacy...... opportunities empower children, especially when these opportunities are employed in a project-based learning environ- ment in which each child is able to contribute to the shared literacy events....

  18. Reflection on Promoting Internal Financial Control in Higher Vocational Colleges%关于推进高职院校内部财务控制的思考

    Institute of Scientific and Technical Information of China (English)

    段玉青

    2012-01-01

    Along with the increasing of national funds investment to higher vocational education, higher vocational colleges attach greater importance to the cost control. Through the introduction of business management idea, the current problems in financial control of higher vocational colleges have been improved and the ability of sustainable development is promoted by taking the measures of changing ideas, improving personnel quality and perfecting precautionary mechanism.%随着国家对高职教育经费投入的逐年攀升,高职院校成本管理的问题日益得到重视。借鉴企业管理的理念,通过转变观念、提升人员素质、健全防范机制等措施,改善院校现行财务控制工作中存在的问题,提高其可持续发展的能力。

  19. Adolescent Literacy. Fact Sheet

    Science.gov (United States)

    Alliance for Excellent Education, 2011

    2011-01-01

    The nation's workforce is demanding ever more literate workers and citizens. As technology advances and the American economy grows increasingly knowledge based, individuals must be able to read, write, and communicate at higher levels in order to remain economic and social contributors. A student's level of literacy is a critical determinant of…

  20. Teaching retirement financial literacy in an undergraduate gerontology classroom: broadening the concept of the tripod or three-legged stool of retirement income utilizing active learning.

    Science.gov (United States)

    Baker, Hallie E; Brown, Pamela Pitman

    2015-01-01

    The three-legged stool concept is widely used in gerontological and geriatric education as an explanation on how one should fiscally approach his or her retirement. Financial managers, planners, retirees, business owners, even the Social Security Administration uses this metaphor of fiscal soundness in retirement planning. Gerontologists are moving away from the "tripod of retirement income" and "three-legged stool" term, as more often market work is needed for financial security. This activity focuses on the tripod or three-legged stool concepts of retirement planning using active learning, allowing the students to work collaboratively in a group, reflect upon the activity, and most importantly have fun. The game also allows for an expansion of the tripod concepts into the four pillars of economic security, broaching the use of personal assets and the possible need for longer employment. Game scenarios also emphasize macro- and microlevel forces, such as race, gender, health status, education, or marital status, which can influence timing of retirement or the level of retirement income available. The authors include instructions on how to set up the learning experience including worksheets, as well as reflection questions posed throughout the process.

  1. Raising household saving: does financial education work?

    Science.gov (United States)

    Gale, William G; Harris, Benjamin H; Levine, Ruth

    2012-01-01

    This article highlights the prevalence and economic outcomes of financial illiteracy among American households, and reviews previous research that examines how improving financial literacy affects household saving. Analysis of the research literature suggests that previous financial literacy efforts have yielded mixed results. Evidence suggests that interventions provided for employees in the workplace have helped increase household saving, but estimates of the magnitude of the impact vary widely. For financial education initiatives targeted to other groups, the evidence is much more ambiguous, suggesting a need for more econometrically rigorous evaluations.

  2. Literacy and Health Disparities

    Science.gov (United States)

    Prins, Esther; Mooney, Angela

    2014-01-01

    This chapter explores the relationship between literacy and health disparities, focusing on the concept of health literacy. Recommendations are provided for ways to bridge the health literacy gap for learners in adult basic education and family literacy programs.

  3. Functional Literacy

    Directory of Open Access Journals (Sweden)

    Fani Nolimal

    2000-12-01

    Full Text Available The author first defines literacy as the ability of co-operation in all fields of life and points at the features of illiterate or semi-literate individuals. The main stress is laid upon the assessment of literacy and illiteracy. In her opinion the main weak­ ness of this kind of evaluation are its vague psycho-metric characteristics, which leads to results valid in a single geographical or cultural environment only. She also determines the factors causing illiteracy, and she states that the level of functional literacy is more and more becoming a national indicator of successfulness.

  4. ICT Literacy

    DEFF Research Database (Denmark)

    Riis, Søren

    2017-01-01

    The entanglement of ethics and technology makes it necessary for us to understand and reflect upon our own practices and to question technological hypes. The information and communication technology (ICT) literacy required to navigate the twenty-first century has to do with recognizing our own...... human limitations, developing critical measures and acknowledging feelings of estrangement, puzzlement as well as sheer wonder of technology. ICT literacy is indeed all about visions of the good life and the art of living in the twenty-first century. The main focus of this paper is to explore...... sensitivity with regard to ICT in the ‘classic’ literacy context of the educational system....

  5. Digital literacies

    CERN Document Server

    Hockly, Nicky; Pegrum, Mark

    2014-01-01

    Dramatic shifts in our communication landscape have made it crucial for language teaching to go beyond print literacy and encompass the digital literacies which are increasingly central to learners' personal, social, educational and professional lives. By situating these digital literacies within a clear theoretical framework, this book provides educators and students alike with not just the background for a deeper understanding of these key 21st-century skills, but also the rationale for integrating these skills into classroom practice. This is the first methodology book to address not jus

  6. The Financial Coaching Advice Model: An Exploration into how it Satisfies Expectations of Quality Advice

    Directory of Open Access Journals (Sweden)

    Julie Knutsen

    2012-11-01

    Full Text Available For 20 years, the financial planning sector in Australia has been transitioning from a sales-orientated force to aprofession of qualified and skilled practitioners. Today, the potential for professional financial planning adviceto benefit Australians financially, economically and psychologically is recognised by government. Financially,these benefits include increased savings, less interest expense through faster debt reduction, higher investmentreturns and appropriate levels of insurance. Economically, a more financially literate society has the potentialfor less reliance on an already burdened social security system. Psychologically, the benefits include the peaceof mind that comes from an individual being confident in financial matters. However, despite this level ofrecognition and development, national surveys have reported that only a small percentage of the populationactually seek professional financial advice. The factors attributing to these low percentages included the gapsin financial literacy limiting an individual’s engagement in financial matters and consumer’s current mistrust ofthe financial advice business models that remain dominated by commission-driven product sales. Thesedeficiencies have led some financial planning firms to break from financial product sales as the primary advicemodel and focus on financial coaching. Exploratory interviews with the practitioners and clients of a selectedfinancial planning firm have generated insightful discussion into how a financial coaching advice model isachieving the financial, economic and psychological benefits recognised by government as the potentialoutcomes of professional financial advice. The aim of this paper is to present the findings from that discussionand demonstrate the opportunities embedded within a financial coaching advice model. It is argued that thisdiscussion offers a foundation for future research direction in an area currently under researched in

  7. Strategies for Success in Financial Education. PDP 2009-3

    Science.gov (United States)

    Newberger, Robin G.; Paulson, Anna L.

    2009-01-01

    The Federal Reserve Bank of Chicago will host a conference, Financial Literacy, Financial Education, and the Federal Reserve: Strategies for Success, on September 11, 2009. This article reviews some of the financial education activities throughout the Federal Reserve System. The topics these initiatives cover include financial skill building,…

  8. Financialization and financial profit

    Directory of Open Access Journals (Sweden)

    Arturo Guillén

    2014-09-01

    Full Text Available This article starts from the critical review of the concept of financial capital. I consider it is necessary not to confuse this category with of financialization, which has acquired a certificate of naturalization from the rise of neoliberalism. Although financial monopoly-financial capital is the hegemonic segment of the bourgeoisie in the major capitalist countries, their dominance does not imply, a fortiori, financialization of economic activity, since it depends of the conditions of the process reproduction of capital. The emergence of joint stock companies modified the formation of the average rate of profit. The "promoter profit" becomes one of the main forms of income of monopoly-financial capital. It is postulated that financial profit is a kind of "extraordinary surplus-value" which is appropriated by monopoly-financial capital by means of the monopolistic control it exerts on the issue and circulation of fictitious capital.

  9. Information Literacy

    African Journals Online (AJOL)

    ian

    Institutions are consequently introducing information literacy programmes in their curricula in a bid to ..... Brazil, Chile and Mexico (Lau 2007:31). Lau (2007) reported that these initiatives rarely involve IL inclusion in curricula and are scattered ...

  10. Information Literacy

    OpenAIRE

    Basili, Carla

    2015-01-01

    Information literacy is a concept which is well established in theory while in practice it is only slowly breaking ground in accordance with the understanding of its significance and the possibilities of its realisation. Based on fundamental works, the characteristics of information literacy, its cognitive foundations and significance for individuals as well as for society, are argumented in the article. The analyzed content of this concept is connected with the content of a librarian’s knowl...

  11. Online Financial Education Programs: Theory, Research, and Recommendations

    Directory of Open Access Journals (Sweden)

    Jinhee Kim

    2017-03-01

    Full Text Available Technological advances have created unprecedented opportunities for online financial education that can be used to improve financial literacy and money management practices. While online financial education programs have become popular, relevant research and theoretical frameworks have rarely been considered in the development of such programs. This article synthesizes lessons from literature and theories for the development of an effective online financial education program. Drawing from literature on financial literacy education and online education, implications and recommendations for integrating technology into online financial education programs for adults are discussed.

  12. Teaching for Transfer: Reconciling the Framework with Disciplinary Information Literacy

    Science.gov (United States)

    Kuglitsch, Rebecca Z.

    2015-01-01

    This article explores the tension between information literacy as a generalizable skill and as a skill within the disciplines. The new ACRL Framework for Information Literacy for Higher Education addresses many challenges facing the previous ACRL Information Literacy Competency Standards for Higher Education, but the tension between disciplinary…

  13. Addressing health literacy in patient decision aids

    Science.gov (United States)

    2013-01-01

    Background Effective use of a patient decision aid (PtDA) can be affected by the user’s health literacy and the PtDA’s characteristics. Systematic reviews of the relevant literature can guide PtDA developers to attend to the health literacy needs of patients. The reviews reported here aimed to assess: 1. a) the effects of health literacy / numeracy on selected decision-making outcomes, and b) the effects of interventions designed to mitigate the influence of lower health literacy on decision-making outcomes, and 2. the extent to which existing PtDAs a) account for health literacy, and b) are tested in lower health literacy populations. Methods We reviewed literature for evidence relevant to these two aims. When high-quality systematic reviews existed, we summarized their evidence. When reviews were unavailable, we conducted our own systematic reviews. Results Aim 1: In an existing systematic review of PtDA trials, lower health literacy was associated with lower patient health knowledge (14 of 16 eligible studies). Fourteen studies reported practical design strategies to improve knowledge for lower health literacy patients. In our own systematic review, no studies reported on values clarity per se, but in 2 lower health literacy was related to higher decisional uncertainty and regret. Lower health literacy was associated with less desire for involvement in 3 studies, less question-asking in 2, and less patient-centered communication in 4 studies; its effects on other measures of patient involvement were mixed. Only one study assessed the effects of a health literacy intervention on outcomes; it showed that using video to improve the salience of health states reduced decisional uncertainty. Aim 2: In our review of 97 trials, only 3 PtDAs overtly addressed the needs of lower health literacy users. In 90% of trials, user health literacy and readability of the PtDA were not reported. However, increases in knowledge and informed choice were reported in those studies

  14. Financial mathematic at secondary school

    OpenAIRE

    ISER, Aleš

    2010-01-01

    The aim of this work is to define financial literacy as one of the main themes of the contemporary world in relation to basic education and development of core competencies. Work summarizes the theoretical knowledge of literature, which converge the issue of financial mathematics and education of students in the selected areas. Simultaneously explore different options for care of pupils in mathematics at elementary school, describes the procedures and methods of work and does not avoid the sp...

  15. Finalcial Literacy dan Perilaku Keuangan Mahasiswa (Studi Kasus Mahasiswa STIE ‘YPPI' Rembang)

    OpenAIRE

    Sari, Dian Anita

    2015-01-01

    Financial intelligence in the competition is absolutely necessary in today's modern society. Deemed necessary, due to the financial intelligence that includes how a person manages financial-owned well is capital to improve the welfare of each individual. This study intends to analyze the effect of learning in college and family financial education to student financial behavior, and the impact of the financial literacy of students to the financial behavior of students with student research obj...

  16. Influence of Maternal Health Literacy on Healthy Pregnancy and ...

    African Journals Online (AJOL)

    User

    2011-05-20

    May 20, 2011 ... Mobile Phone No: +2348034670349. Abstract ... significant relationships between maternal health literacy and antenatal care. (r = .445, df = 229, ... health literacy include knowledge and use of a healthy diet, taking actions to ... it is especially problematic among those of modest financial means, many of.

  17. Measuring Practicing Clinicians’ Information Literacy

    Science.gov (United States)

    Barboza, Katherine; Jensen, Ashley E.; Bennett, Katelyn J.; Sherman, Scott E.; Schwartz, Mark D.

    2017-01-01

    Summary Background As healthcare moves towards technology-driven population health management, clinicians must adopt complex digital platforms to access health information and document care. Objectives This study explored information literacy, a set of skills required to effectively navigate population health information systems, among primary care providers in one Veterans’ Affairs (VA) medical center. Methods Information literacy was assessed during an 8-month randomized trial that tested a population health (panel) management intervention. Providers were asked about their use and comfort with two VA digital tools for panel management at baseline, 16 weeks, and post-intervention. An 8-item scale (range 0-40) was used to measure information literacy (Cronbach’s a=0.84). Scores between study arms and provider types were compared using paired t-tests and ANOVAs. Associations between self-reported digital tool use and information literacy were measured via Pearson’s correlations. Results Providers showed moderate levels of information literacy (M= 27.4, SD 6.5). There were no significant differences in mean information literacy between physicians (M=26.4, SD 6.7) and nurses (M=30.5, SD 5.2, p=0.57 for difference), or between intervention (M=28.4, SD 6.5) and control groups (M=25.1, SD 6.2, p=0.12 for difference). Information literacy was correlated with higher rates of self-reported information system usage (r=0.547, p=0.001). Clinicians identified data access, accuracy, and interpretability as potential information literacy barriers. Conclusions While exploratory in nature, cautioning generalizability, the study suggests that measuring and improving clinicians’ information literacy may play a significant role in the implementation and use of digital information tools, as these tools are rapidly being deployed to enhance communication among care teams, improve health care outcomes, and reduce overall costs. PMID:28197620

  18. Enhancing Links between Research and Practice to Improve Consumer Financial Education and Well-Being

    Science.gov (United States)

    Hensley, Billy J.

    2015-01-01

    A recent meta-analysis of the effect of financial literacy and financial education on downstream financial behaviors has shown a weak collective impact of the work of financial education. While the findings are not stellar, they do not support a dismantling of financial education programs and funding. This paper examines the findings of the…

  19. Literacy in Francophone Africa.

    Science.gov (United States)

    Kokora, Pascal D.

    1991-01-01

    Literacy in francophone Africa, where literacy is still a privilege, is reviewed in terms of the complex linguistic situation, effects of population change, concepts and definitions of literacy, promotion of literacy in adult nonformal settings (e.g., African language literacy materials, multilingual settings). (23 references) (LB)

  20. Quality of Financial Policies and Financial System Stress

    OpenAIRE

    Udaibir S Das; Plamen Yossifov; Richard Podpiera; Dmitriy L Rozhkov

    2005-01-01

    In this paper, we develop multi-country indices of financial system stress and quality of financial policies and use them in regression analysis of the determinants of financial stress. We find that countries with higher quality of financial policies are better able to contain the effects of macroeconomic pressures on the overall level of stress in the financial system. They are also in a better position to ensure sustainable development of the financial system.

  1. A REVIEW OF FINANCIAL EDUCATION

    Directory of Open Access Journals (Sweden)

    Fatih Temizel

    2015-07-01

    Full Text Available This study determines the importance of financial education in contemporary societies. A review of various organizations for increasing financial education whose individual and societal importance has been internationally accepted is also offered. Towards this end initiatives undertaken by international organizations and national authorities are examined. Aspects of these initiatives that can be offered as best practices for developing nations are identified. For the Turkish case financial education examples that can be organized under public authority leadership, with NGO participation are collated. Various experiences about measuring and increasing financial literacy are examined. Among these are the implementations in Australia, Japan, England and the United States. It is put forth, in light of international experience, that increasing access to financial education and efficiency of financial services are possible through, informing, education and consulting.

  2. Health Literacy

    Science.gov (United States)

    ... medical words, and of how their health care system works Abilities, such as physical or mental limitations Personal factors, such as age, education, language abilities, and culture More than 90 million adults in the United States have low health literacy. It affects their ability ...

  3. Information Literacy: The Battle We Won That We Lost?

    Science.gov (United States)

    Cowan, Susanna M.

    2014-01-01

    As we continue to revise our formal definitions of "information literacy" and to hone our delivery of information literacy across higher education, have we failed to see that information literacy as a programmatic aim, for all of its successes to date, is no longer relevant? The essay charts how the institutionalization of information…

  4. Financial history and financial economics

    OpenAIRE

    Turner, John D.

    2014-01-01

    This essay looks at the bidirectional relationship between financial history and financial economics. It begins by giving a brief history of financial economics by outlining the main topics of interest to financial economists. It then documents and explains the increasing influence of financial economics upon financial history, and warns of the dangers of applying financial economics unthinkingly to the study of financial history. The essay proceeds to highlight the many insights that financi...

  5. The Usefulness of a News Media Literacy Measure in Evaluating a News Literacy Curriculum

    Science.gov (United States)

    Maksl, Adam; Craft, Stephanie; Ashley, Seth; Miller, Dean

    2017-01-01

    A survey of college students showed those who had taken a news literacy course had significantly higher levels of news media literacy, greater knowledge of current events, and higher motivation to consume news, compared with students who had not taken the course. The effect of taking the course did not diminish over time. Results validate the News…

  6. People's Empowerment and Adult Literacy Programs.

    Science.gov (United States)

    Kumari, P. Vasantha

    1999-01-01

    Analysis of data from 1,600 adult participants in Total Literacy Campaigns in India shows how adult acquisition of literacy skills improves their health habits, increases their participation in business startups and voting, and gives them higher aspirations for their children. Children have better enrollment and health status. Women improve their…

  7. Information And Communication Technology (ICT) Literacy Among ...

    African Journals Online (AJOL)

    Various means such as formal education, informal education, colleagues, training at workplace, attending workshops/seminars are accepted as ideal for the acquisition of ICT literacy skills. However, financial problems, poor infrastructure, lack of library management interest and lack of training opportunity hinders the ...

  8. Playful Literacy

    DEFF Research Database (Denmark)

    Froes, Isabel

    these practices, which compose the taxonomy of tablet play. My contribution lies in identifying and proposing a series of theoretical concepts that complement recent theories related to play and digital literacy studies. The data collected through observations informed some noteworthy aspects, including how...... with tablets’ physical and digital affordances shape children’s digital play. This thesis presents how young children’s current practices when playing with tablets inform digital experiences in Denmark and Japan. Through an interdisciplinary lens and a grounded theory approach, I have identified and mapped...... vocabulary in children’s digital play experiences. These early digital experiences set the rules for the playgrounds and assert digital tablets as twenty-first-century toys, shaping young children’s playful literacy....

  9. Unpacking New Media Literacy

    Directory of Open Access Journals (Sweden)

    Der-Thanq “victor” Chen

    2011-04-01

    Full Text Available The 21st century has marked an unprecedented advancement of new media. New media has become so pervasive that it has penetrated into every aspect of our society. New media literacy plays an essential role for any citizen to participate fully in the 21st century society. Researchers have documented that literacy has evolved historically from classic literacy (reading-writing-understanding to audiovisual literacy to digital literacy or information literacy and recently to new media literacy. A review of literature on media literacy reveals that there is a lack of thorough analysis of unique characteristics of new media and its impacts upon the notion of new media literacy. The purpose of the study is to unpack new media literacy and propose a framework for a systematic investigation of new media literacy.

  10. Financial literacy and preparation for retirement

    NARCIS (Netherlands)

    Prast, Henriette; van Soest, Arthur

    To meet the challenges of an ageing population, eligibility ages for state pensions have increased, early retirement arrangements have been abolished, and a substantial part of the risk and responsibility for an adequate standard of living after retirement has been shifted from the government,

  11. Depression literacy and health-seeking attitudes in the Western Pacific region: a mixed-methods study.

    Science.gov (United States)

    Ho, Grace W K; Bressington, D; Leung, S F; Lam, K K C; Leung, A Y M; Molassiotis, A; Ligot, J; Ranoco, C; Sophal, C; Valimaki, M

    2018-06-02

    Depression literacy refers to the ability to recognize depression and make informed decisions about its treatment. To date, relatively little research has been done to examine depression literacy in the Western Pacific region. Given the pervasiveness of depression and the need to enhance mental health care in this region, it is important to gain a better understanding of depression literacy and health-seeking behaviors in this part of the world. This mixed-methods study utilized a convergent parallel design to examine depression literacy and the associated health-seeking attitudes among urban adults from three countries-Cambodia, Philippines, and Fiji. A total of 455 adults completed a quantitative survey on depression knowledge, attitudes, and professional help seeking. Separately, 56 interviewees from 6 focus groups provided qualitative data on their impression and knowledge of depression and mental illness within the context of their local communities. Overall, results showed that depression knowledge was comparatively lower in this region. Controlling for differences across countries, higher knowledge was significantly associated with more positive attitudes towards mental illness (B = - 0.28, p = 0.025) and professional help seeking (B = 0.20, p < 0.001). Financial stability, such as employment, was also a salient factor for help seeking. This study was the first to provide a baseline understanding on depression literacy and highlights the need to increase public knowledge on depression in the Western Pacific. Culturally congruent recommendations on enhancing depression literacy in this region, such as anti-stigma campaigns, use of financial incentives, and family-based approach in health education, are discussed.

  12. THE GLOBAL FINANCIAL CRISIS AND NATIONAL FINANCIAL ...

    African Journals Online (AJOL)

    propose solutions aimed at reducing the effects of global financial crisis by ... rates of return leading to more investment and higher growth for developing countries. .... capital can without notice turn into outflows as it did in Russia and East Asia.

  13. Literacy in America.

    Science.gov (United States)

    Graubard, Stephen R., Ed.

    1990-01-01

    This collection of essays addresses issues related to basic literacy and mathematical competence in the United States. Articles include the following: "The Roots of Literacy" (David Hawkins); "Historical Perspectives on Literacy and Schooling" (Daniel P. Resnick); "Reconciling the Literacies of Generations" (William…

  14. Higher Education.

    Science.gov (United States)

    Hendrickson, Robert M.

    This chapter reports 1982 cases involving aspects of higher education. Interesting cases noted dealt with the federal government's authority to regulate state employees' retirement and raised the questions of whether Title IX covers employment, whether financial aid makes a college a program under Title IX, and whether sex segregated mortality…

  15. Framing Information Literacy

    Directory of Open Access Journals (Sweden)

    Anneke Dirkx

    2016-12-01

    Full Text Available In 2000 the Association of College & Research Libraries (ACRL published the Standards for Information Literacy. After 15 years these standards were in desperate need of revision. Instead of releasing a revised edition of the Standards, in 2015 ACRL presented a completely new vision on information literacy in higher education. In this keynote we will explore the new ACRL Framework for Information Literacy in all its glory. We will compare it to the old standards. Is this new American Framework an opportunity for librarians to promote their courses to faculty in a new light, with the aim to integrate them into the curriculum? Do we really need a framework for information literacy to achieve this integration? Or is there another way? We will take a closer look at an interesting British alternative: the Researcher Development Framework from Vitae and The Society of College, National and University Libraries (SCONUL. We will compare both frameworks and list the pros and cons. It is a complicated situation: there are Standards, there is a new Framework in an early stage of implementation and there is this Researcher Development Framework. What do we, the librarians, have to do? Should we bid the old standards farewell and switch to the new framework? Or does the Researcher Development Framework provide a better alternative? We have to think and talk about our teaching role in our institutions. At this conference we can think and spar with our colleague librarians, putting one of the ACRL framework concepts, “scholarship as conversation”, into practice.

  16. Family literacy

    DEFF Research Database (Denmark)

    Sehested, Caroline

    2012-01-01

    I Projekt familielæsning, der er et samarbejde mellem Nationalt Videncenter for Læsning og Hillerød Bibliotek, arbejder vi med at få kontakt til de familier, som biblioteket ellers aldrig ser som brugere og dermed også de børn, der vokser op i familier, for hvem bøger og oplæsningssituationer ikk...... er en selvfølgelig del af barndommen. Det, vi vil undersøge og ønsker at være med til at udvikle hos disse familier, er det, man kan kalde family literacy....

  17. Enhancing Financial Capability and Inclusion in the Philippines : A Demand-Side Survey

    OpenAIRE

    World Bank Group

    2015-01-01

    In response to a request of the Bangko Sentral ng Pilipinas (BSP) and as part of a broader engagement on enhancing financial consumer protection and education in the Philippines, the World Bank has implemented a financial capability survey. Financial inclusion, financial literacy and consumer protection are important priorities for the BSP and the Philippines government. Consumer protectio...

  18. A Peer-Based Financial Planning & Education Service Program: An Innovative Pedagogic Approach

    Science.gov (United States)

    Goetz, Joseph W.; Durband, Dorothy B.; Halley, Ryan E.; Davis, Kimberlee

    2011-01-01

    This paper presents a peer-based financial planning and education program as a strategy to address the lack of financial literacy among college students and provide an experiential learning opportunity for students majoring in financial planning or other financial services-related disciplines. Benefits of such programs to campus communities are…

  19. A Date With Academic Literacies: Using Brief Conversation to Facilitate Student Engagement With Academic Literacies

    Science.gov (United States)

    Dunham, Nicola

    2012-01-01

    The argument that de-contextualized deficit approaches to academic literacies were ineffective (Lea, 2004; Northedge, 2003), has led to expectations that New Zealand Higher Education institutions embed academic literacies within programmes and courses (Tertiary Education Commission, 2010). This paper reports on the use of a teaching and learning…

  20. Financial integration and financial development in transition economies: What happens during financial crises?

    Directory of Open Access Journals (Sweden)

    Igor Masten

    2011-12-01

    Full Text Available

    This paper provides an empirical analysis of the role of financial development and financial integration in the growth dynamics of transition countries. We focus on the role of financial integration in determining the impact of financial development on growth, distinguishing “normal times” from periods of financial crises. In addition to confirming the significant positive effect on growth exerted by financial development and financial integration, our estimates show that a higher degree of financial openness tends to reduce the contractionary effect of financial crises, by cushioning the effect on the domestic supply of credit. Consequently, the high reliance on international capital flows by transition countries does not necessarily increase their financial fragility. This implies that financial protectionism is a self-defeating policy, at least for transition countries.

  1. Adult literacy benefits? New opportunities for research into sustainable development

    Science.gov (United States)

    Post, David

    2016-12-01

    Understandings of "literacy" broadened after the United Nations Development Decade of the 1960s. The corresponding research into the benefits of literacy also widened its focus beyond economic growth. The effects of adult literacy and its correlates appeared diffuse with the rise of New Literacy Studies, and the scholarship on consequences seemed less essential to advocates following the rise of a human rights perspective on education. In 2016 the agenda for literacy research has returned - but at a higher level - to concern over its benefits. The United Nations Sustainable Development Goals (SDGs) have reintegrated literacy research within an agenda to understand the channels through which literacy skills might effect change. This article briefly reviews progress in adult literacy, touches on existing perspectives on literacy, and then illustrates four recent sources of information useful in the revitalised agenda offered by the SDGs. Data from the Programme for the International Assessment of Adult Competencies (PIAAC) study conducted by the Organisation for Economic Co-operation and Development (OECD), the World Values Survey (WVS), and the World Bank's Skills Toward Employment and Productivity (STEP) study are now available to researchers wishing to link educational change with attitudinal and behavioural change. Another important resource are the emerging data on mobile learning. By integrating literacy into the SDGs, literacy researchers can reveal the channels through which literacy can contribute to social welfare and transformation.

  2. Leading the Way in Literacy

    Science.gov (United States)

    Houck, Bonnie; Novak, Sandi

    2017-01-01

    Schools and districts are required to have improvement plans that specify instructional and curricular ideas to enhance teachers' ongoing practice and assist students in performing at higher levels. Yet little has been done to examine the specific knowledge that principals need regarding literacy teaching and learning or how districts can build…

  3. Examining health literacy disparities in the United States: a third look at the National Assessment of Adult Literacy (NAAL

    Directory of Open Access Journals (Sweden)

    R. V. Rikard

    2016-09-01

    Full Text Available Abstract Background In the United States, disparities in health literacy parallel disparities in health outcomes. Our research contributes to how diverse indicators of social inequalities (i.e., objective social class, relational social class, and social resources contribute to understanding disparities in health literacy. Methods We analyze data on respondents 18 years of age and older (N = 14,592 from the 2003 National Assessment of Adult Literacy (NAAL restricted access data set. A series of weighted Ordinary Least Squares (OLS regression models estimate the association between respondent’s demographic characteristics, socioeconomic status (SES, relational social class, social resources and an Item Response Theory (IRT based health literacy measure. Results Our findings are consistent with previous research on the social and SES determinants of health literacy. However, our findings reveal the importance of relational social status for understanding health literacy disparities in the United States. Objective indicators of social status are persistent and robust indicators of health literacy. Measures of relational social status such as civic engagement (i.e., voting, volunteering, and library use are associated with higher health literacy levels net of objective resources. Social resources including speaking English and marital status are associated with higher health literacy levels. Conclusions Relational indicators of social class are related to health literacy independent of objective social class indicators. Civic literacy (e.g., voting and volunteering are predictors of health literacy and offer opportunities for health intervention. Our findings support the notion that health literacy is a social construct and suggest the need to develop a theoretically driven conceptual definition of health literacy that includes a civic literacy component.

  4. Relationship Between Parental and Adolescent eHealth Literacy and Online Health Information Seeking in Taiwan.

    Science.gov (United States)

    Chang, Fong-Ching; Chiu, Chiung-Hui; Chen, Ping-Hung; Miao, Nae-Fang; Lee, Ching-Mei; Chiang, Jeng-Tung; Pan, Ying-Chun

    2015-10-01

    This study examined the relationship between parental and adolescent eHealth literacy and its impact on online health information seeking. Data were obtained from 1,869 junior high school students and 1,365 parents in Taiwan in 2013. Multivariate analysis results showed that higher levels of parental Internet skill and eHealth literacy were associated with an increase in parental online health information seeking. Parental eHealth literacy, parental active use Internet mediation, adolescent Internet literacy, and health information literacy were all related to adolescent eHealth literacy. Similarly, adolescent Internet/health information literacy, eHealth literacy, and parental active use Internet mediation, and parental online health information seeking were associated with an increase in adolescent online health information seeking. The incorporation of eHealth literacy courses into parenting programs and school education curricula is crucial to promote the eHealth literacy of parents and adolescents.

  5. Financial Well-being in Active Ageing.

    Science.gov (United States)

    Rajola, Federico; Frigerio, Chiara; Parrichi, Monica

    2014-01-01

    In developed countries, economic and financial well-being is playing a crucial positive role in ageing and inclusion processes. Due to the complexity and pervasiveness of financial economy in the real life, more and more social as well as individual well-being are perceived as influenced by financial conditions. On the other hand, the demographic circumstances drive scholars as well as politicians to reflect on ageing dynamics. Bridging the two domains, the following research focuses on the role of the financial well-being as a mediating role of general well-being in elder people. The assumption is that elderly people have specific financial needs that sometimes are not covered by financial providers' offers. The motivation is mainly on the role of information asymmetries between elder consumers and financial institutions. On the dynamics of these asymmetries, the research will specifically investigate the role of financial literacy, as the ability of comprehension of elder people of their needs and of financial information. The applicative implication of this research work consists in finding the determinants of financial well-being for elders and the definition of their specific financial competencies, in order to 1) identify educational and regulatory guidelines for policy makers in charge of creating financial market transparency conditions, and to 2) support design of organizational mechanisms as well as financial product/services for this specific target of client. The following chapter presents preliminary explorative results of a survey delivered on 200 elder individuals (65-80 yrs.) leaving in Milan. Findings show that active elders consider the ability of managing personal wealth as one of the core determinant of well-being, although the economic and financial literacy is limited. Furthermore, the chapter proposes a research agenda for scholars interested in exploring the relationship between financial well-being and ageing.

  6. The Role of Health Literacy in Professional Education and Training.

    Science.gov (United States)

    Aldoory, Linda

    2017-01-01

    This chapter marks the territory and leadership potential found in research, practice and policy related to the role of health literacy in higher education and professional training. There is limited published work that has summarized the role and scope of health literacy in higher education and professional training. This chapter will provide a review of the research in the area, a description of some of the educational practices in health literacy, and a case example of how policy might influence the role of health literacy in professional higher education.

  7. Consolidating Financial Statements.

    Science.gov (United States)

    Wood, Marcia R.

    This publication is designed to be a desktop reference and assist financial officers in both public and independent institutions of higher education in the preparation of consolidated financial statements. Chapter 1 covers generally accepted accounting principles and other accounting literature, and summarizes reporting rules of the Financial…

  8. A study of adult e-learning in higher distance educacion: a statistical analysis of students' performance in financial accounting in a Spanish University for Distance Education (UNED

    Directory of Open Access Journals (Sweden)

    Teresa Carmen Herrador Alcaide

    2013-07-01

    Full Text Available This article aims to establish a mathematical model to measure the performance of e-learning in adult distance education in the field of financial economics and accounting. As an innovative methodology, a ‘linear regression’ approach was applied to contrast correlations between variables in the model. A teacher innovation network was implemented for e-learning using different types of material. The compilation of data was carried out by means of an opinion survey to evaluate the usage of the four elements that comprised the design factors of the e-learning model applied at UNED. The contrast of a ‘Null Hypothesis’, e.g. by means of linear regression analysis, validated the established model. However, the ‘binary logistical analysis’ and the statistical contrast of the group demonstrated that the effect of e-learning on performance was not as high as it had been expected.

  9. Higher Incidence of Stroke on the Last Day of the Month in Hungary-a Role for Psychosocial Factors and Financial Insecurity?

    Science.gov (United States)

    Folyovich, András; Biczó, Dávid; Bajnok, Anna; Bessenyei, Dávid; Kis, Ibolya; Gimesi-Országh, Judit; Béres-Molnár, Anna K; Toldi, Gergely

    2016-05-01

    The seasonal cumulation of acute ischemic stroke events is a well-known phenomenon. Critical days are determined by both biological and psychosocial factors. We hypothesized that the financial stability of those with a monthly income living in an economically unpredictable environment rises upon the arrival of their salary and decreases in the preceding days, leading to anxiety and existential insecurity, which may increase the incidence of acute ischemic stroke. We assessed the daily average number of thrombolytic treatments due to acute ischemic stroke in Hungary between December 1, 2005, and November 30, 2013, calculating the ratio of thrombolytic treatments on the last day of the month (irrespectively whether it was the 28th-31st days) to thrombolytic treatments on the other days, and determined 95% confidence intervals. In this period, 7880 thrombolytic treatments were performed nationwide (2.70/day), out of which 1867 occurred on the last day of the month (19.45/day). If the 28th, 29th, or 30th was not the last day of the month, 15.8, 20.6, and 22 times less thrombolytic treatments, respectively, were performed than on the last day of that month. We propose that financial insecurity on the days prior to the receipt of a salary might play a role in the elevation of stroke incidence observed on the last day of the month in Hungary. Further analysis of this phenomenon and its psychosocial effects is needed to adequately allocate healthcare resources and to take preventive measures in the high-risk population. Copyright © 2016 National Stroke Association. Published by Elsevier Inc. All rights reserved.

  10. Enabling Digital Literacy

    DEFF Research Database (Denmark)

    Ryberg, Thomas; Georgsen, Marianne

    2010-01-01

    There are some tensions between high-level policy definitions of “digital literacy” and actual teaching practice. We need to find workable definitions of digital literacy; obtain a better understanding of what digital literacy might look like in practice; and identify pedagogical approaches, which...... support teachers in designing digital literacy learning. We suggest that frameworks such as Problem Based Learning (PBL) are approaches that enable digital literacy learning because they provide good settings for engaging with digital literacy. We illustrate this through analysis of a case. Furthermore......, these operate on a meso-level mediating between high-level concepts of digital literacy and classroom practice....

  11. Functional literacy of Young Guyanese Adults

    Science.gov (United States)

    Jennings, Zellyne

    2000-05-01

    Functional literacy is interpreted as the ability of the individual to apply skills in reading, writing, calculation and basic problem-solving in those activities in which literacy is required for effective functioning in his/her own group and community. The paper describes the rationale, development and administration of the test used for measuring levels (high, moderate, low) of achievement in functional literacy in three domains (document, prose and quantitative). An assumption of the study was that a high level of functional literacy was required for the individual to function effectively in his/her own group and community. The context of the study is Guyana the most underdeveloped and impoverished country in the English-speaking Caribbean. The subjects are out of school youth in Guyana aged 14-25. Amongst the main findings are: only approximately 11% of the young people show a high level of functional literacy; females tend to have a higher level of functional literacy than males: and most of those at the low level never went beyond primary and low status secondary schools and usually end up unemployed or in semi- or unskilled jobs. Attention is drawn to the difficulty of attracting funding for literacy programmes from international aid agencies, given the inflated adult literacy rate which is reported for Guyana in international statistics. While they credit Guyana with an adult literacy rate of 97.5%, the study suggests that a more realistic figure is in the 70s. The importance of adult and continuing education is underscored in view of the need to help those who are out of school to meet the ever-changing demands of society for improved skills in literacy and numeracy.

  12. Merging Information Literacy and Evidence-Based Practice in an Undergraduate Health Sciences Curriculum Map

    Science.gov (United States)

    Franzen, Susan; Bannon, Colleen M.

    2016-01-01

    The ACRL's "Framework for Information Literacy for Higher Education" offers the opportunity to rethink information literacy teaching and curriculum. However, the ACRL's rescinded "Information Literacy Competency Standards for Higher Education" correlate with the preferred research and decision-making model of the health…

  13. Health literacy among Saudi population: a cross-sectional study.

    Science.gov (United States)

    Abdel-Latif, Mohamed M M; Saad, Sherif Y

    2017-09-12

    Health literacy is a major problem worldwide and adversely affects an individual's health. The aim of the present study was to assess health literacy level among Saudi population. A cross-sectional study was conducted among a randomly selected population (n = 500) in Saudi Arabia. The questionnaire comprised of questions pertaining to demographic characteristics, health literacy and health information. Health literacy was measured by REALM-R test. Internal reliability was determined using Cronbach's alpha coefficient. The majority of the respondents had intermediate (43.8%) and basic (34.4%) health literacy levels. A higher percentage among men had intermediate (59.8%) and basic (70.93%) health literacy levels compared with women. About 30% of respondents had difficulty in understanding health screening tests and disease treatment. More than half of participants (52.4%) had difficulty in finding health information. The REALM-R test revealed that about 42.6% of individuals with score of >6 had adequate health literacy compared with 57.4% with score of ≤6 had inadequate health literacy. The present study demonstrated that a majority of Saudi individuals had inadequate health literacy that associated with poor knowledge of health information. Our findings highlighted the importance of understanding the status of health literacy among Saudis and the need for educational programs to raise the health literacy awareness among Saudi population. © The Author 2017. Published by Oxford University Press. All rights reserved. For Permissions, please email: journals.permissions@oup.com.

  14. Learn about Health Literacy

    Science.gov (United States)

    ... Submit What's this? Submit Button What is Health Literacy? Recommend on Facebook Tweet Share Compartir Low Resolution ... and services to make appropriate health decisions. Health Literacy Capacity and Skills Capacity is the potential a ...

  15. Health Literacy - Multiple Languages

    Science.gov (United States)

    ... Here: Home → Multiple Languages → All Health Topics → Health Literacy URL of this page: https://medlineplus.gov/languages/ ... W XYZ List of All Topics All Health Literacy - Multiple Languages To use the sharing features on ...

  16. Subjective Belief Distributions and the Characterization of Economic Literacy

    DEFF Research Database (Denmark)

    Di Girolamo, Amalia; Harrison, Glenn W.; Lau, Morten

    2015-01-01

    the confidence that an individual has about their knowledge of some fact. We consider literacy across several financial and economic domains. We find considerable demographic heterogeneity in the degree of literacy. We also measure the degree of consistency within a sample about their knowledge, even when......We characterize the literacy of an individual in a domain by their elicited subjective belief distribution over the possible responses to a question posed in that domain. By eliciting the distribution, rather than just the answers to true/false or multiple choice questions, we can directly measure...

  17. Financial Statements

    International Development Research Centre (IDRC) Digital Library (Canada)

    Financial Statements and accompanying notes provided on .... to good governance principles. there is the risk that ...... responsibilities of the centre's internal auditor includes reviewing internal controls, including accounting and financial.

  18. Financial Derivatives

    OpenAIRE

    Janečková, Alena

    2011-01-01

    1 Abstract/ Financial derivatives The purpose of this thesis is to provide an introduction to financial derivatives which has been, from the legal perspective, described in a not satisfactory manner as quite little literature that can be found about this topic. The main objectives of this thesis are to define the term "financial derivatives" and its particular types and to analyse legal nature of these financial instruments. The last objective is to try to draft future law regulation of finan...

  19. Writing Information Literacy Assessment Plans: A Guide to Best Practice

    Directory of Open Access Journals (Sweden)

    Megan Oakleaf

    2010-03-01

    Full Text Available Academic librarians throughout higher education add value to the teaching and learning missions of their institutions though information literacy instruction. To demonstrate the full impact of librarians on students in higher education, librarians need comprehensive information literacy assessment plans, composed of instructional program-level and outcome-level components, that summarize the purpose of information literacy assessment, emphasize the theoretical basis of their assessment efforts, articulate specific information literacy goals and outcomes, describe the major assessment methods and tools used to capture evidence of student learning, report assessment results, and highlight improvements made as a consequence of learning assessment.

  20. Health literacy in Europe

    NARCIS (Netherlands)

    Heide, van der Iris; Uiters, Ellen; Sørensen, Kristine; Röthlin, Florian; Pelikan, Jürgen; Rademakers, Jany; Boshuizen, Hendriek

    2016-01-01

    Background: Health literacy is an important determinant of health, but national health literacy levels are known for only some European countries. This study aims to examine to what extent national health literacy levels can be estimated based on publicly available census data. Method:

  1. Health literacy in Suriname

    NARCIS (Netherlands)

    Diemer, Frederieke S.; Haan, Yentl C.; Nannan Panday, Rani V.; van Montfrans, Gert A.; Oehlers, Glenn P.; Brewster, Lizzy M.

    2017-01-01

    Low health literacy is an independent predictor of cardiovascular mortality. However, data on health literacy in low- and middle-income countries are scarce. Therefore, we assessed the level of health literacy in Suriname, a middle-income country with a high cardiovascular mortality. We estimated

  2. Literacies in the Body

    Science.gov (United States)

    Jones, Stephanie

    2013-01-01

    In this commentary, the author invites readers to consider the body and its central place in literacy pedagogy, practice and research. She emphasizes two interrelated paths for teachers and researchers interested in literacies to tend to the body: (1) the ways literacies are engaged and cultivated for making sense of bodies, and (2) the literacies…

  3. Literacy in South America.

    Science.gov (United States)

    Hornberger, Nancy H.

    1991-01-01

    Literacy in South America must be understood in terms of the linguistic diversity there, where only 2 of 14 nations and territories are monolingual. Oral traditions, standardization of indigenous languages, nonstandard varieties of colonial languages, bilingual education and mother tongue literacy, literacy teaching, and politics are discussed.…

  4. Measuring News Media Literacy

    Science.gov (United States)

    Maksl, Adam; Ashley, Seth; Craft, Stephanie

    2015-01-01

    News media literacy refers to the knowledge and motivations needed to identify and engage with journalism. This study measured levels of news media literacy among 500 teenagers using a new scale measure based on Potter's model of media literacy and adapted to news media specifically. The adapted model posits that news media literate individuals…

  5. How Teacher Educators Can Address Our Nation's Financial Crisis

    Science.gov (United States)

    Dowdell, John; McElfresh, Dwight; Sikula, John

    2009-01-01

    This article from Ashland University reports on what one university, well known for its Teacher Education programs, is doing in an economically depressed state to address our country's financial crisis. Ohio has mandated that financial literacy be taught in high schools by 2010. Reported herein is what is being done to prepare teachers for this…

  6. How financially literate are women? An overview and new insights

    NARCIS (Netherlands)

    Bucher-Koenen, Tabea; Lusardi, Annamaria; Alessie, Rob; van Rooij, Maarten C. J.

    2017-01-01

    We document strikingly similar gender differences in financial literacy across countries. When asked to answer questions that measure knowledge of basic financial concepts, women are less likely than men to answer correctly and more likely to indicate that they do not know the answer. Both young and

  7. Tobacco use and health insurance literacy among vulnerable populations: implications for health reform.

    Science.gov (United States)

    Braun, Robert T; Hanoch, Yaniv; Barnes, Andrew J

    2017-11-15

    Under the Affordable Care Act (ACA), millions of Americans have been enrolling in the health insurance marketplaces. Nearly 20% of them are tobacco users. As part of the ACA, tobacco users may face up to 50% higher premiums that are not eligible for tax credits. Tobacco users, along with the uninsured and racial/ethnic minorities targeted by ACA coverage expansions, are among those most likely to suffer from low health literacy - a key ingredient in the ability to understand, compare, choose, and use coverage, referred to as health insurance literacy. Whether tobacco users choose enough coverage in the marketplaces given their expected health care needs and are able to access health care services effectively is fundamentally related to understanding health insurance. However, no studies to date have examined this important relationship. Data were collected from 631 lower-income, minority, rural residents of Virginia. Health insurance literacy was assessed by asking four factual questions about the coverage options presented to them. Adjusted associations between tobacco use and health insurance literacy were tested using multivariate linear regression, controlling for numeracy, risk-taking, discount rates, health status, experiences with the health care system, and demographics. Nearly one third (31%) of participants were current tobacco users, 80% were African American and 27% were uninsured. Average health insurance literacy across all participants was 2.0 (SD 1.1) out of a total possible score of 4. Current tobacco users had significantly lower HIL compared to non-users (-0.22, p financial burdens on them and potentially limiting access to tobacco cessation and treatment programs and other needed health services.

  8. RATIONAL FINANCIAL BEHAVIOR OF POPULATION AS A PROSPERITY FACTOR OF FINANCIAL SECTOR

    Directory of Open Access Journals (Sweden)

    Sushko E. Yu.

    2014-12-01

    Full Text Available The rapid sophistication of the Russian financial system inevitably leads not only to the emergence of great opportunities for the development of the financial sector, as expressed in the opening of the new financial institutions or new financial products and services, but also a huge financial risks for companies of this sector, as expressed in the increase of population’s debts and the decline of trust in the financial sector. That is why special tools used in making management decisions about the development of the financial sector in a particular region acquires greater significance. On the basis of statistical data over the Volgograd region the author developed the model of initial attractiveness estimation of an area for business entities, reflecting the level of financial literacy and using the data from open sources of information. The article provides a brief introduction to the development of the methodology: from a theoretical substantiation of the original list of variables for analysis up to determine the regression equation. Obtained regression model can be used by entrepreneurs in case of expansion of their financial business to new areas and by regional governance whose aim is to increase the level of financial literacy.

  9. Financial Integration and Asset Returns

    OpenAIRE

    P Martin; H Rey

    2000-01-01

    The paper investigates the impact of financial integration on asset return, risk diversification and breadth of financial markets. We analyse a three-country macroeconomic model in which (i) the number of financial assets is endogenous; (ii) assets are imperfect substitutes; (iii) cross-border asset trade entails some transaction costs; (iv) the investment technology is indivisible. In such an environment, lower transaction costs between two financial markets translate to higher demand for as...

  10. Information Literacy and Digital Literacy: Competing or Complementary?

    OpenAIRE

    Rosanne Marie Cordell

    2013-01-01

    Digital Literacy is a more recent term than Information Literacy and is used for multiple categories of library users in multiple types of libraries. Determining the relationship between Information Literacy and Digital Literacy is essential before revision of the Information Literacy Standards can proceed.

  11. Studying bilingual students’ literacy

    DEFF Research Database (Denmark)

    Laursen, Helle Pia

    2012-01-01

    In the official educational discourse in the Nordic countries literacy teaching has become a central and contested issue. In both public and political debate literacy seems to be constructed as a unified concept streamlined for administration and measurement (Prinsloo & Baynham, 2008...... conceived of as a threat to a school’s profile (Rampton, Harris & Leung, 2001). In this paper, I focus on different conceptualizations of literacy and discuss the implications for research on bilingual children's literacy acquisition and the need to expand the understanding of literacy in ways, which might...... contribute to lift the basic understanding of bilinguals’ literacy out of a disqualifying political discourse. Drawing on the ongoing study Sign of Language (Laursen, 2011), I reflect on how a social semiotic framework might help open new research perspectives on bilingual children’s literacy acquisition...

  12. Enhancing Literacy Skills through Technology.

    Science.gov (United States)

    Sistek-Chandler, Cynthia

    2003-01-01

    Discusses how to use technology to enhance literacy skills. Highlights include defining literacy, including information literacy; research to support reading and writing instruction; literacy software; thinking skills; organizational strategies for writing and reading; how technology can individualize literacy instruction; and a new genre of…

  13. Intravenous thrombolysis of large vessel occlusions is associated with higher hospital costs than small vessel strokes: a rationale for developing stroke severity-based financial models.

    Science.gov (United States)

    Rai, Ansaar T; Evans, Kim; Riggs, Jack E; Hobbs, Gerald R

    2016-04-01

    Owing to their severity, large vessel occlusion (LVO) strokes may be associated with higher costs that are not reflected in current coding systems. This study aimed to determine whether intravenous thrombolysis costs are related to the presence or absence of LVO. Patients who had undergone intravenous thrombolysis over a 9-year period were divided into LVO and no LVO (nLVO) groups based on admission CT angiography. The primary outcome was hospital cost per admission. Secondary outcomes included admission duration, 90-day clinical outcome, and discharge destination. 119 patients (53%) had LVO and 104 (47%) had nLVO. Total mean±SD cost per LVO patient was $18,815±14,262 compared with $15,174±11,769 per nLVO patient (p=0.04). Hospital payments per admission were $17,338±13,947 and $15,594±16,437 for LVO and nLVO patients, respectively (p=0.4). A good outcome was seen in 33 LVO patients (27.7%) and in 69 nLVO patients (66.4%) (OR 0.2, 95% CI 0.1 to 0.3, pregression analysis after controlling for comorbidities showed the presence of LVO to be an independent predictor of higher total hospital costs. The presence or absence of LVO is associated with significant differences in hospital costs, outcomes, admission duration, and home discharge. These differences can be important when developing systems of care models for acute ischemic stroke. Published by the BMJ Publishing Group Limited. For permission to use (where not already granted under a licence) please go to http://www.bmj.com/company/products-services/rights-and-licensing/

  14. A NEW CHALLENGE IN EU: EFFECTIVE FINANCIAL EDUCATION

    OpenAIRE

    Suciu Marta-Christina; Lacatus Maria Liana

    2013-01-01

    Financial literacy is a need for people responsible for their money. The decisions people made in respect with the money have impact on their future. Their responsibility and the risks assumed increase as long as employers and government responsibility and assumed risks in this respect decrease. Financial education is based on principles such as: active long life learning, individuals needs oriented, part of the early education provided by schools, basic concepts on financial issues and risks...

  15. Disturbingly Weak: The Current State of Financial Management Education in Library and Information Science Curricula

    Science.gov (United States)

    Burger, Robert H.; Kaufman, Paula T.; Atkinson, Amy L.

    2015-01-01

    Financial management skills are necessary for responsible library management. In light of the profession's current emphasis on financial literacy, the authors posed four questions: (1) to what extent are library and information science schools providing courses in financial management for their graduates; (2) what is the quality and quantity of…

  16. Financial mathematics

    CERN Document Server

    Jothi, A Lenin

    2009-01-01

    Financial services, particularly banking and insurance services is the prominent sector for the development of a nation. After the liberalisation of financial sector in India, the scope of getting career opportunities has been widened. It is heartening to note that various universities in India have introduced professional courses on banking and insurance. A new field of applied mathematics has come into prominence under the name of Financial Mathematics. Financial mathematics has attained much importance in the recent years because of the role played by mathematical concepts in decision - m

  17. The Importance of Literacy in the Home Language

    Directory of Open Access Journals (Sweden)

    Susana A. Eisenchlas

    2013-10-01

    Full Text Available While advantages of literacy in the home language have been widely documented, the Australian education system has not been proactive in providing institutional support for its development. This paper investigates the impact of (illiteracy in the home language on the academic, affective, and social development of bilingual/multilingual children and proposes principles that home-language-literacy programs should meet to be effective. It discusses programs that, although designed to develop literacy or second-language proficiency mainly in classroom contexts, could be easily adapted to address the needs of the linguistically and culturally diverse Australian context. We argue that the cost of not investing in successful home-language-literacy programs will be higher in the long run than their implementation costs and recommend that Australia should consider supporting grassroots home-language-literacy programs in a push to improve overall literacy outcomes for Australian home-language speakers.

  18. Information Literacy on the Go! Adding Mobile to an Age Old Challenge

    Science.gov (United States)

    Schmidt Hanbidge, Alice; Sanderson, Nicole; Tin, Tony

    2016-01-01

    Integrating information literacy skills is fundamental to learning in all contexts. The nexus of mobile devices and information literacy lessons to learn these skills is an innovative pedagogy in higher education explored in this Mobile Information Literacy Tool (MIL) project. Currently, the project's second stage of data collection and analysis…

  19. A NEW CHALLENGE IN EU: EFFECTIVE FINANCIAL EDUCATION

    Directory of Open Access Journals (Sweden)

    Suciu Marta-Christina

    2013-07-01

    Full Text Available Financial literacy is a need for people responsible for their money. The decisions people made in respect with the money have impact on their future. Their responsibility and the risks assumed increase as long as employers and government responsibility and assumed risks in this respect decrease. Financial education is based on principles such as: active long life learning, individuals needs oriented, part of the early education provided by schools, basic concepts on financial issues and risks oriented. In Romania, financial education is part of school based curriculum. The Ministry of Education recommends all schools interested in delivering financial education programs schools a syllabus for an optional subject focused on financial issues. Banks are also interested to contribute to financial education. They help schools in conducting financial education programs and, additionally, they developed their own financial education programs.

  20. Essential elements of ecological literacy and the pathways to achieve it: Perspectives of ecologists

    Science.gov (United States)

    McBride, Brooke Baldauf

    2011-12-01

    National assessments have led many to conclude that the level of ecological literacy among the general population in the United States is too low to enable effective social responses to current environmental challenges. However, the actual meaning of ecological literacy varies considerably between academic fields and has been a topic of intensive deliberation for several decades. Within the field of ecology in particular, a driving purpose behind this ongoing discussion has been to advance a complete, pedagogy-guiding, and broadly applicable framework for ecological literacy, allowing for the establishment of guidelines and tools for assessing educational achievement; yet, a widely accepted framework does not currently exist. What is ecological literacy and how can it be achieved? Through an extensive review of the literature, I traced the evolution of the related concepts of environmental literacy, ecological literacy, and ecoliteracy, and compared and contrasted the numerous proposed frameworks across multiple dimensions of affect, knowledge, skills, and behavior. In addition to characterizing the overall discourse, this analysis facilitated close examination of where we have been, where we are, and where we might be headed with respect to these vital conversations. To explore current perspectives on the topic, I analyzed the open-ended responses of more than 1,000 ecologists and other environmental scientists on the nature of ecological literacy and how it may be achieved. Factor analysis revealed the presence of six common dimensions underlying respondents' views of ecological literacy (cycles and webs, ecosystem services, negative human impacts, critical thinking/application, nature of ecological science, and biogeography) and five common dimensions for how to achieve it (education by mass media, formal/traditional education, financial incentive, participatory/interactive education, and communication/outreach by scientists). Based on these results, I proposed

  1. Financial Liberalization and Financial Fragility

    OpenAIRE

    Enrica Detragiache; Asli Demirgüç-Kunt

    1998-01-01

    The authors study the empirical relationship between banking crises and financial liberalization using a panel of data for 53 countries for 1980-95. They find that banking crises are more likely to occur in liberalized financial systems. But financial liberalization's impact on a fragile banking sector is weaker where the institutional environment is strong--especially where there is respect for the rule of law, a low level of corruption, and good contract enforcement. They examine evidence o...

  2. The Information Literacy of Survey Mark Hunting: A Dialogue

    Directory of Open Access Journals (Sweden)

    Jennifer Galas

    2016-11-01

    Full Text Available In Brief: This article makes connections between the ACRL Framework for Information Literacy for Higher Education and the activity of survey mark hunting. After a brief review of the literature related to geographic information systems (GIS, information literacy, and gamification of learning, the authors enter into a dialogue in which they discover and describe the...

  3. Proposing a Metaliteracy Model to Redefine Information Literacy

    Science.gov (United States)

    Jacobson, Trudi E.; Mackey, Thomas P.

    2013-01-01

    Metaliteracy is envisioned as a comprehensive model for information literacy to advance critical thinking and reflection in social media, open learning settings, and online communities. At this critical time in higher education, an expansion of the original definition of information literacy is required to include the interactive production and…

  4. First Thoughts on Implementing the Framework for Information Literacy

    Science.gov (United States)

    Jacobson, Trudi E.; Gibson, Craig

    2015-01-01

    Following the action of the ACRL Board in February 2015 in accepting the "Framework for Information Literacy for Higher Education" as one of the "constellation of documents" that promote and guide information literacy instruction and program development, discussion in the library community continues about steps in implementing…

  5. Financial Statements

    International Development Research Centre (IDRC) Digital Library (Canada)

    users make on the basis of the financial information. .... IDRC's brand and reputation could impact partner- .... building and to provide internal services in support of the ...... maintains books of accounts, information systems, and financial and management controls that .... The significant accounting policies of the Centre are: a.

  6. Financial Education Through Mathematics and IT Curricula: Pocket Money Management

    OpenAIRE

    Gortcheva, Iordanka

    2013-01-01

    Report published in the Proceedings of the National Conference on "Education in the Information Society", Plovdiv, May, 2013 Mathematics and IT classes in the Bulgarian school provide various opportunities for developing students’ logical, mathematical, and technological thinking. Being an important part of mathematical literacy, financial literacy can be systematically built in the frame of national mathematics and IT curricula. Following that objective, exemplary word problems ...

  7. Higher Education Funding Formulas.

    Science.gov (United States)

    McKeown-Moak, Mary P.

    1999-01-01

    One of the most critical components of the college or university chief financial officer's job is budget planning, especially using formulas. A discussion of funding formulas looks at advantages, disadvantages, and types of formulas used by states in budgeting for higher education, and examines how chief financial officers can position the campus…

  8. Media Literacy and Information Behavior in Cyberspace

    Directory of Open Access Journals (Sweden)

    Seyed Ali Akbar Famil Rouhany

    2017-10-01

    Full Text Available The aim of this study was to investigate media literacy and information behavior in cyberspace. This was a review and library research based study. With the advent of the digital age and the increasing spread of the World Wide Web, popularity and general acceptance of virtual social networks in the world today, the need to examine media literacy and information behavior in human life is important. Approach to media literacy which is the subset of information literacy in cyberspace has become necessary and obvious. As an individual, higher level of literacy can lead to choosing better content and search for information to find useful content. By assessing the theoretical basis and different approaches in a virtual environment, it can be concluded that having literacy skills and information behavior, the period of time spent in cyberspace and the number of readers have increased, leading to the ability to criticize and interpret the social, political and economic information and identify useful information. Consequently, by acquiring new technologies and increasing the adaptability in viewpoints and improving skills within researchers, the context for developing new ideas will be provided.

  9. Economic Cognitions Among Older Adults: Parental Socialization Predicts Financial Planning for Retirement

    Directory of Open Access Journals (Sweden)

    Francisco Palaci

    2017-11-01

    Full Text Available Drawing on the model on financial planning for retirement (FPR, the aim of this work is to explore how parental economic socialization both directly and indirectly affects FPR through the mediation of financial literacy, financial planning decisions and financial management. Data from a sample of 280 participants aged between 45 and 63 years were used. The results show that parental economic socialization directly and indirectly influences FPR. Moreover, parental economic behavior acts as a positive model for the development of financial literacy and skills and for decisions about FPR. All the variables increased the explained variance of FPR. Lastly, we discuss the process by which parental economic socialization is positively related to financial literacy and skills that impact on FPR, indicating some implications and future lines of research.

  10. Economic Cognitions Among Older Adults: Parental Socialization Predicts Financial Planning for Retirement.

    Science.gov (United States)

    Palaci, Francisco; Jiménez, Irene; Topa, Gabriela

    2017-01-01

    Drawing on the model on financial planning for retirement (FPR), the aim of this work is to explore how parental economic socialization both directly and indirectly affects FPR through the mediation of financial literacy, financial planning decisions and financial management. Data from a sample of 280 participants aged between 45 and 63 years were used. The results show that parental economic socialization directly and indirectly influences FPR. Moreover, parental economic behavior acts as a positive model for the development of financial literacy and skills and for decisions about FPR. All the variables increased the explained variance of FPR. Lastly, we discuss the process by which parental economic socialization is positively related to financial literacy and skills that impact on FPR, indicating some implications and future lines of research.

  11. Combining Self-Assessments and Achievement Tests in Information Literacy Assessment: Empirical Results and Recommendations for Practice

    Science.gov (United States)

    Rosman, Tom; Mayer, Anne-Kathrin; Krampen, Günter

    2015-01-01

    This article examines the significance of information literacy self-assessments in higher education with a special focus on situational conditions increasing their explanatory power. First, it was hypothesised that self-assessments of information literacy correlate higher with factual information literacy if measured after the administration of…

  12. Researching Literacy and Numeracy Costs and Benefits: What is possible

    Directory of Open Access Journals (Sweden)

    Robyn Hartley

    2011-04-01

    Full Text Available Assessing the social and economic benefits of investing in adult literacy and numeracy and the costs of poor adult literacy and numeracy, is largely uncharted territory in Australia. Some interest was evident in the late 1980s leading up to International Literacy Year, 1990 (for example, Miltenyi 1989, Singh 1989, Hartley 1989; however, there has been little work done in the area since then, with the exception of recent studies concerned with financial literacy costs and benefits (Commonwealth Bank Foundation 2005. Assessing the benefits (returns of workplace training in general has received some attention (for example Moy and McDonald 2000, although the role of literacy and numeracy is often implied rather than explored in any detail. In contrast, there is a considerable body of relevant research emanating from the United States, Canada, the United Kingdom and some European countries. The release of data from the International Adult Literacy Survey (IALS in the 1990s contributed to some of this research, as did policy developments for example, in the United Kingdom. The much greater use of IALS data in some other countries compared with Australia, seems to be related to a combination of factors in the overall policy and research environment for adult literacy and numeracy in each country.

  13. Insights into the concept and measurement of health literacy from a study of shared decision-making in a low literacy population.

    Science.gov (United States)

    Smith, Sian K; Nutbeam, Don; McCaffery, Kirsten J

    2013-08-01

    This article explores the concept and measurement of health literacy in the context of shared health decision-making. It draws upon a series of qualitative and quantitative studies undertaken in the development and evaluation of a bowel cancer screening decision aid for low literacy populations. The findings indicate that different types of health literacy (functional, interactive and critical) are required in decision-making and present a set of instruments to assess and discriminate between higher level health literacy skills required for engagement in decision-making. It concludes that greater sophistication in both the definition and measurement of health literacy in research is needed.

  14. Designing Interactive Multimedia Instruction To Enable and Enhance Information Literacy.

    Science.gov (United States)

    Amidon, Leslie E.

    2001-01-01

    Addresses key strategies for the design and development of Interactive Multimedia Instruction (IMI) programs for adult learners, focusing on the removal of learning barriers and the incorporation of information literacy principles. Barriers include financial constraints, socio-economic and social class, communication skills, time constraints,…

  15. The study of Health Literacy of adults in Karaj

    Directory of Open Access Journals (Sweden)

    Mahdi Sahrayi

    2017-03-01

    Full Text Available Background and objective: Health literacy represents the cognitive and social skills that determine the motivation and ability of individuals to acquire, access and understand the information to maintain and promote health. This study aimed to assess the health literacy of adults in Karaj. Methods: In this cross-sectional and descriptive study, 525 subjects aged 18-65 years old were selected using multistage sampling in Karaj. Relevant information was obtained using demographic questionnaire and HELIA questionnaire (18-65 years-old, respectively. Data were analyzed using SPSS and appropriate tests. Results: The mean age of participants was 33.48 ± 11.39 years old. 48.8% (n=250 the participants were male and 51.2% (n=262 were female. 24.2% (n=124 of the participants had inadequate health literacy, 23.4 % (n=120 not so inadequate health literacy, 37.9 % (n=194 adequate health literacy and 14.5 (n = 74 had higher health literacy. Health literacy was significantly associated with age, gender, marital status, education, BMI, smoking and physical activity (p<0.05. Conclusion: Due to low health literacy and the importance of adult role in society, it is necessary educational programs aimed at improving their health literacy skills , designed and implemented. Paper Type: Research Article.

  16. Information Literacy and Digital Literacy: Competing or Complementary?

    Science.gov (United States)

    Cordell, Rosanne Marie

    2013-01-01

    Digital literacy is a more recent concept than information literacy and can relate to multiple categories of library users in multiple types of libraries. Determining the relationship between information literacy and digital literacy is essential before revision of the ACRL "Standards" can proceed.

  17. Patient attitudes and preferences regarding literacy screening in ambulatory cancer care clinics

    Directory of Open Access Journals (Sweden)

    Elizabeth A Hahn

    2010-04-01

    Full Text Available Elizabeth A Hahn1, Sofia F Garcia1, Hongyan Du2, David Cella11Department of Medical Social Sciences, Feinberg School of Medicine, Northwestern University, Chicago; 2Center on Outcomes, Research and Education, NorthShore University HealthSystem, Evanston, IL, USAObjectives: To evaluate patient attitudes towards literacy screening, agreement between literacy tests, and associations between literacy, informed consent comprehension, and health-related quality of life (HRQL.Methods: Participants completed three literacy tests, read a sample consent form, and reported their HRQL, experiences, and attitudes.Results: We enrolled 97 cancer patients, of whom 66% were female, 67% were African American, and 65% were high school graduates. Sixty percent of patients with lower reading comprehension had trouble reading health information, and 31% had trouble reading everyday written material. Even patients with higher reading comprehension had trouble reading health information (29% and everyday written material (10%. Low-literacy patients were more likely to feel anxious about literacy screening. However, the majority of patients (84% would be willing to have literacy results given to providers. Comprehension of informed consent increased with higher literacy. There were no HRQL differences.Conclusions: Patients report difficulty comprehending written health information. Literacy assessment is acceptable and it is considered important for providers to be aware of their patients’ reading abilities. Patient preference data should be used to improve literacy testing strategies and measures. Enhancing detection of low literacy can facilitate interventions to reduce health disparities.Keywords: health literacy, screening, informed consent, reading, writing

  18. Higher Education, Poverty and Development

    Science.gov (United States)

    Tilak, Jandhyala B. G.

    2010-01-01

    There is a presumption among many policy makers that higher education is not necessary for economic growth and development; it is literacy and basic education and at best secondary education that are argued to be important. Estimates of internal rate of return contributed to strengthening of such a presumption. Accordingly, higher education has…

  19. Financial assurances

    International Nuclear Information System (INIS)

    Paton, R.F.

    1990-01-01

    US Ecology is a full service waste management company. The company operates two of the nation's three existing low-level radioactive waste (LLRW) disposal facilities and has prepared and submitted license applications for two new LLRW disposal facilities in California and Nebraska. The issue of financial assurances is an important aspect of site development and operation. Proper financial assurances help to insure that uninterrupted operation, closure and monitoring of a facility will be maintained throughout the project's life. Unfortunately, this aspect of licensing is not like others where you can gauge acceptance by examining approved computer codes, site performance standards or applying specific technical formulas. There is not a standard financial assurance plan. Each site should develop its requirements based upon the conditions of the site, type of design, existing state or federal controls, and realistic assessments of future financial needs. Financial assurances at U.S. Ecology's existing sites in Richland, Washington, and Beatty, Nevada, have been in place for several years and are accomplished in a variety of ways by the use of corporate guarantees, corporate capital funds, third party liability insurance, and post closure/long-term care funds. In addressing financial assurances, one can divide the issue into three areas: Site development/operations, third party damages, and long-term care/cleanup

  20. Critical Literacy: Foundational Notes

    Science.gov (United States)

    Luke, Allan

    2012-01-01

    The term "critical literacy" refers to use of the technologies of print and other media of communication to analyze, critique, and transform the norms, rule systems, and practices governing the social fields of everyday life (A. Luke, 2004). Since Freire's (1970) educational projects in Brazil, approaches to critical literacy have been…

  1. Visual literacy in HCI

    NARCIS (Netherlands)

    Overton, K.; Sosa-Tzec, O.; Smith, N.; Blevis, E.; Odom, W.; Hauser, S.; Wakkary, R.L.

    2016-01-01

    The goal of this workshop is to develop ideas about and expand a research agenda for visual literacy in HCI. By visual literacy, we mean the competency (i) to understand visual materials, (ii) to create visuals materials, and (iii) to think visually [2]. There are three primary motivations for this

  2. Commercial Literacy Software.

    Science.gov (United States)

    Balajthy, Ernest

    1997-01-01

    Presents the first year's results of a continuing project to monitor the availability of software of relevance for literacy education purposes. Concludes there is an enormous amount of software available for use by teachers of reading and literacy--whereas drill-and-practice software is the largest category of software available, large numbers of…

  3. Literacy, Learning, and Media.

    Science.gov (United States)

    Adams, Dennis; Hamm, Mary

    2000-01-01

    Considers the expanding definition of literacy from traditional reading and writing skills to include technological, visual, information, and networking literacy. Discusses the impact of media on social interactions and intellectual development; linking technology to educational goals; influences of new media symbol systems on communication;…

  4. Computer Literacy Education

    Science.gov (United States)

    1989-01-01

    Cognitive Aspect ," AEDS Journal, 18, 3 (Spring 1985) 150. "°Geoffrey Akst, "Computer Literacy: An Interview with Dr. Michael Hoban." Journal of Develop- m...1984. Cheng, Tina T.; Plake, Barbara; and Stevens, Dorothy Jo. "A Validation Study of the Computer Literacy Examination: Cognitive Aspect ." AEDS

  5. Institutionalizing Information Literacy

    Science.gov (United States)

    Weiner, Sharon A.

    2012-01-01

    There is increasing recognition that information literacy is essential for individual and community empowerment, workforce readiness, and global competitiveness. However, there is a history of difficulty in integrating information literacy with the postsecondary educational process. This paper posits that a greater understanding of the…

  6. Literacy in South Asia.

    Science.gov (United States)

    Srivastava, R. N.

    1983-01-01

    A study of the various facets and dimensions of literacy programs in South Asia indicates that literacy is viewed as a means of human resource development geared toward meaningful participation of all sectors in society, with individual programs varying according to the magnitude of illiteracy, national goals, linguistic setting, and regional…

  7. Levels of Literacy.

    Science.gov (United States)

    Nettle, Keith

    Democracy in western countries now depends on literacy at every level: censuses by which governments can plan for the future; elections which are the cornerstone of democratic choice; local meetings which have agendas and minutes--the whole apparatus of social living is organized and recorded through literacy. This paper is concerned with how…

  8. Consumers' Patient Portal Preferences and Health Literacy: A Survey Using Crowdsourcing.

    Science.gov (United States)

    Zide, Mary; Caswell, Kaitlyn; Peterson, Ellen; Aberle, Denise R; Bui, Alex At; Arnold, Corey W

    2016-06-08

    eHealth apps have the potential to meet the information needs of patient populations and improve health literacy rates. However, little work has been done to document perceived usability of portals and health literacy of specific topics. Our aim was to establish a baseline of lung cancer health literacy and perceived portal usability. A survey based on previously validated instruments was used to assess a baseline of patient portal usability and health literacy within the domain of lung cancer. The survey was distributed via Amazon's Mechanical Turk to 500 participants. Our results show differences in preferences and literacy by demographic cohorts, with a trend of chronically ill patients having a more positive reception of patient portals and a higher health literacy rate of lung cancer knowledge (Pportals and higher level of health literacy within the domain of lung cancer.

  9. Health literacy and the clozapine patient.

    Science.gov (United States)

    Brosnan, Susan; Barron, Elizabeth; Sahm, L J

    2012-01-01

    To estimate the prevalence of limited health literacy in patients receiving clozapine for schizophrenia. To develop and produce a pharmacist-designed clozapine patient information leaflet (PIL) which has a higher readability score than the company-produced PIL. This was a cross sectional prevalence study. Ethical approval for the study was granted by the local ethics committee. Patients, over 18 years, attending the Clozapine Clinic of a Cork urban teaching hospital, were asked to participate in the study. Demographics such as gender, age, employment and smoking status, were gathered from all participants. The total daily clozapine dose, duration of clozapine treatment, and information regarding the clozapine DVD was also noted. The Rapid Estimate of Adult Literacy in Medicine (REALM) health literacy (HL) screening tool was then administered to each patient. A user-friendly PIL on clozapine was designed by the pharmacist, which was assessed for readability and compared to the company-produced PIL using the FRES and FKGL. Data were analysed using SPSS Version 15. Forty patients (65% male, 95% unemployed and 70% smokers) of average age 38.0 years (+/- 11.2) completed the REALM. The average score was 60.6 (+/- 8.7). Twenty-nine patients (72.5%) were found to have "adequate" health literacy. The remaining eleven patients were found to have either "marginal" or "low" health literacy. The pharmacist-designed PIL would have been readable by 95% of the study population, in contrast to 72.5% with the company-designed PIL. More than a quarter of the population were found to have marginal or low health literacy. Patient information should be matched to the health literacy level of the target population.

  10. Climate Change literacy among postgraduate students of addis ...

    African Journals Online (AJOL)

    see the effects of such factors on programme syllabi, teaching approaches used, key sources of .... for strengthening climate change literacy at institutions of higher education from which future ...... Ethiopia: Country Environmental Profile.

  11. Correlates of healthcare and financial decision making among older adults without dementia.

    Science.gov (United States)

    Stewart, Christopher C; Yu, Lei; Wilson, Robert S; Bennett, David A; Boyle, Patricia A

    2018-03-22

    Healthcare and financial decision making among older persons has been previously associated with cognition, health and financial literacy, and risk aversion; however, the manner by which these resources support decision making remains unclear, as past studies have not systematically investigated the pathways linking these resources with decision making. In the current study, we use path analysis to examine the direct and indirect pathways linking age, education, cognition, literacy, and risk aversion with decision making. We also decomposed literacy into its subcomponents, conceptual knowledge and numeracy, in order to examine their associations with decision making. Participants were 937 community-based older adults without dementia from the Rush Memory and Aging Project who completed a battery of cognitive tests and assessments of healthcare and financial decision making, health and financial literacy, and risk aversion. Age and education exerted effects on decision making, but nearly two thirds of their effects were indirect, working mostly through cognition and literacy. Cognition exerted a strong direct effect on decision making and a robust indirect effect working primarily through literacy. Literacy also exerted a powerful direct effect on decision making, as did its subcomponents, conceptual knowledge and numeracy. The direct effect of risk aversion was comparatively weak. In addition to cognition, health and financial literacy emerged as independent and primary correlates of healthcare and financial decision making. These findings suggest specific actions that might be taken to optimize healthcare and financial decision making and, by extension, improve health and well-being in advanced age. (PsycINFO Database Record (c) 2018 APA, all rights reserved).

  12. The measurement of psychological literacy: a first approximation.

    Science.gov (United States)

    Roberts, Lynne D; Heritage, Brody; Gasson, Natalie

    2015-01-01

    Psychological literacy, the ability to apply psychological knowledge to personal, family, occupational, community and societal challenges, is promoted as the primary outcome of an undergraduate education in psychology. As the concept of psychological literacy becomes increasingly adopted as the core business of undergraduate psychology training courses world-wide, there is urgent need for the construct to be accurately measured so that student and institutional level progress can be assessed and monitored. Key to the measurement of psychological literacy is determining the underlying factor-structure of psychological literacy. In this paper we provide a first approximation of the measurement of psychological literacy by identifying and evaluating self-report measures for psychological literacy. Multi-item and single-item self-report measures of each of the proposed nine dimensions of psychological literacy were completed by two samples (N = 218 and N = 381) of undergraduate psychology students at an Australian university. Single and multi-item measures of each dimension were weakly to moderately correlated. Exploratory and confirmatory factor analyses of multi-item measures indicated a higher order three factor solution best represented the construct of psychological literacy. The three factors were reflective processes, generic graduate attributes, and psychology as a helping profession. For the measurement of psychological literacy to progress there is a need to further develop self-report measures and to identify/develop and evaluate objective measures of psychological literacy. Further approximations of the measurement of psychological literacy remain an imperative, given the construct's ties to measuring institutional efficacy in teaching psychology to an undergraduate audience.

  13. Information literacy dimension seeking learning quality in university education

    OpenAIRE

    Vaičiūnienė, Vilhelmina; Gedvilienė, Genutė

    2009-01-01

    Education in Lithuania is undergoing great transformations that are affecting higher education. Today's education at large experiences challenges caused by new technologies, abundance of information resources, thus being forced to search for new and effective methods of teaching / learning. The issue of information literacy at university level in Lithuania has not been researched in more depth so far. Integration of information literacy into the curriculum of higher education is a key questio...

  14. The Canadian Assessment of Physical literacy

    DEFF Research Database (Denmark)

    Francis, Claire E; Longmuir, Patricia E; Boyer, Charles

    2016-01-01

    . Methods: Nineteen childhood physical activity/fitness experts completed a 3-round Delphi process. Round 1 was open-ended questions. Subsequent rounds rated statements using a 5-point Likert scale. Recommendations were sought regarding protocol inclusion, relative importance within composite scores......Background: The Canadian Assessment of Physical Literacy (CAPL) was conceptualized as a tool to monitor children's physical literacy. The original model (fitness, activity behavior, knowledge, motor skill) required revision and relative weights for calculating/interpreting scores were required...... by daily behavior) is appropriate for monitoring the physical literacy of children aged 8 to 12 years. Objectively measured domains (daily behavior, physical competence) have higher relative importance. The interpretation of CAPL results should be reevaluated as more data become available. © 2016 Human...

  15. Building a New Literacy.

    Science.gov (United States)

    Culkin, John; Drexel, John

    1981-01-01

    Media education specialist John Culkin talks with editor John Drexel about learning to read in the television age--and discusses a new alphabet, UNIFON, that may help solve the literacy crisis. (Editor)

  16. The Balanced Literacy Diet.

    Science.gov (United States)

    Willows, Dale

    2002-01-01

    Describes professional development program in Ontario school district to improve student reading and writing skills. Program used food-pyramid concepts to help teacher learn to provide a balanced and flexible approach to literacy instruction based on student needs. (PKP)

  17. Tobacco use and health insurance literacy among vulnerable populations: implications for health reform

    Directory of Open Access Journals (Sweden)

    Robert T. Braun

    2017-11-01

    Full Text Available Abstract Background Under the Affordable Care Act (ACA, millions of Americans have been enrolling in the health insurance marketplaces. Nearly 20% of them are tobacco users. As part of the ACA, tobacco users may face up to 50% higher premiums that are not eligible for tax credits. Tobacco users, along with the uninsured and racial/ethnic minorities targeted by ACA coverage expansions, are among those most likely to suffer from low health literacy – a key ingredient in the ability to understand, compare, choose, and use coverage, referred to as health insurance literacy. Whether tobacco users choose enough coverage in the marketplaces given their expected health care needs and are able to access health care services effectively is fundamentally related to understanding health insurance. However, no studies to date have examined this important relationship. Methods Data were collected from 631 lower-income, minority, rural residents of Virginia. Health insurance literacy was assessed by asking four factual questions about the coverage options presented to them. Adjusted associations between tobacco use and health insurance literacy were tested using multivariate linear regression, controlling for numeracy, risk-taking, discount rates, health status, experiences with the health care system, and demographics. Results Nearly one third (31% of participants were current tobacco users, 80% were African American and 27% were uninsured. Average health insurance literacy across all participants was 2.0 (SD 1.1 out of a total possible score of 4. Current tobacco users had significantly lower HIL compared to non-users (−0.22, p < 0.05 after adjustment. Participants who were less educated, African American, and less numerate reported more difficulty understanding health insurance (p < 0.05 each. Conclusions Tobacco users face higher premiums for health coverage than non-users in the individual insurance marketplace. Our results suggest they may be

  18. Embracing early literacy indicators

    DEFF Research Database (Denmark)

    Broström, Stig; Hansen, Ole Henrik; Jensen, Anders Skriver

    2010-01-01

    Abstract til paper om early literacy indikatorer. Det paper abstractet er knyttet til var en del af et inviteret, selvorganiseret symposium som afrapporterede EASE-projektet (www.ease-eu.com) på OMEP's 26. verdenskongres.......Abstract til paper om early literacy indikatorer. Det paper abstractet er knyttet til var en del af et inviteret, selvorganiseret symposium som afrapporterede EASE-projektet (www.ease-eu.com) på OMEP's 26. verdenskongres....

  19. The Ocean Literacy Campaign

    Science.gov (United States)

    Schoedinger, S. E.; Strang, C.

    2008-12-01

    "Ocean Literacy is an understanding of the ocean's influence on you and your influence on the ocean." This simple statement captures the spirit of a conceptual framework supporting ocean literacy (COSEE et al., 2005). The framework comprises 7 essential principles and 44 fundamental concepts an ocean literate person would know (COSEE et al., 2005). The framework is the result of an extensive grassroots effort to reach consensus on (1) a definition for ocean literacy and (2) an articulation of the most important concepts to be understood by ocean-literate citizen (Cava et al., 2005). In the process of reaching consensus on these "big ideas" about the ocean, what began as a series of workshops has emerged as a campaign "owned" by an ever-expanding community of individuals, organizations and networks involved in developing and promoting the framework. The Ocean Literacy Framework has provided a common language for scientists and educators working together and serves as key guidance for the ocean science education efforts. This presentation will focus on the impact this Ocean Literacy Campaign has had to date as well as efforts underway to provide additional tools to enable educators and educational policy makers to further integrate teaching and learning about the ocean and our coasts into formal K-12 education and informal education. COSEE, National Geographic Society, NOAA, College of Exploration (2005). Ocean Literacy: The Essential Principles of Ocean Sciences Grades K-12, a jointly published brochure, URL: http://www.coexploration.org/oceanliteracy/documents/OceanLitChart.pdf Cava, F., S. Schoedinger , C. Strang, and P. Tuddenham (2005). Science Content and Standards for Ocean Literacy: A Report on Ocean Literacy, URL: http://www.coexploration.org/oceanliteracy/documents/OLit2004-05_Final_Report.pdf.

  20. Embedding Literacy Strategies in Social Studies for Eighth-Grade Students

    Directory of Open Access Journals (Sweden)

    Alishia Gaston

    2016-05-01

    Full Text Available This action research study evaluated the effects of literacy strategies on academic achievement, motivation, and engagement of eighth-grade social studies students. Incorporating literacy strategies included teaching students to construct meaning, think critically, and build content knowledge, while stimulating their interests, using multiple texts and technology, and providing collaborative opportunities and high engagement during instructional activities. Students were divided into a literacy group and a direct instruction group with each class being taught the same content. Literacy strategies were incorporated in one class, and direct instruction activities were used in the other class. Results were determined using pre and posttest scores, a student motivation questionnaire, and a student engagement checklist. Results indicated significantly higher student achievement and engagement when literacy strategies were a part of the social studies instruction. Motivation also increased when literacy strategies were used. Literacy instruction was a beneficial strategy to improve student achievement, motivation, and engagement.