Financial Education for Youth: The Role of Schools

The importance of financial literacy and specifically the need to promote financial education has been recognised as an important contributor to improved financial inclusion and individuals’ financial well-being as well as a support to financial stability. The relevance of financial education policies is acknowledged at the highest global policy level: in 2012, G20 Leaders endorsed the OECD/INFE High-level Principles on National Strategies for Financial Education that specifically identify youth as one of the priority targets of government policies in this domain. That same year, Asia-Pacific Economic Cooperation (APEC) Ministers of Finance identified financial literacy as a critical life skill.

The publication addresses the challenges linked to the introduction of financial education in schools, and provides practical guidance and case studies, and a comparative analysis of existing learning frameworks for financial education in the formal school system.

Contents:

+ Executive summary

+ Chapter 1. The importance of financial education for youth
-The importance of financial literacy for individuals
-Benefits of financial literacy
-Financial education for youth and in schools
-References

+ Chapter 2. Implementing financial education in schools
-Strategies to promote and influence political willingness
-Effective approaches for the introduction of financial education into school curricula
-Tools to support the introduction of financial education in schools
-Training the teachers
-Resources and pedagogic materials
-Ways to ensure the sustainability and efficiency of programmes
-Role of private financing: importance and challenges
-Evaluation of financial education programmes
-References

+ Chapter 3. Comparing selected financial education learning frameworks
-Scope and definition
-History of the development of existing frameworks
-Comparative analysis of content and pedagogical features
-Existing financial education learning frameworks
-References
-Appendix 3.A1. Comparison of financial education learning frameworks in selected countries
-Appendix 3.A2. Japan: Contents of financial education by age group
-Appendix 3.A3. The Netherlands: Learning targets
-Appendix 3.A4. New Zealand: Financial capability progressions

+ Annex A. INFE Guidelines for Financial Education in Schools
-References

Website: OECD iLibrary http://www.oecd-ilibrary.org/

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