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Financial Education for Youth

The Role of Schools

image of Financial Education for Youth

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 to assist policy makers, and a comparative analysis of existing learning frameworks for financial education in the formal school system.

 

English

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Comparing selected financial education learning frameworks

Learning frameworks provide a planned and coherent structure for financial education in the official school sector, at the primary or secondary level. They operate at meta-level, providing learning outcomes or standards for financial education. This chapter illustrates the INFE Guidance on Learning Frameworks that complement the INFE Guidelines displayed in Annex A. It provides both a comparative analysis of the learning frameworks, from their design to their practical implementation, and a detailed description of available relevant frameworks. The analysis focuses first on their development, and notably on the institutions responsible for their drafting, the goals and institutional endorsement. It then addresses their content, from the dimensions of financial education they focus on to the learning outcomes and topics, and their implementation, including links with other subjects, effective pedagogy, students’ assessment and the role of teachers.

English

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