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Improving Financial Education Efficiency

OECD-Bank of Italy Symposium on Financial Literacy

image of Improving Financial Education Efficiency

This symposium proceedings examines three aspects of financial education: monitoring and evaluation, use of behavioral economics,  and financial literacy and defined contribution pension plans.

English

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Can Economic Psychology and Behavioural Economics Help Improve Financial Education?

This chapter starts by noting that the provision of knowledge and information in itself is not sufficient; the information must be incorporated into daily life. It then goes on to describe an innovative solution developed for Brazilian school children. The approach combines information and recommendations about personal financial issues with information about the way in which psychological factors may both help and hinder behaviour. This psychological guidance is intended to raise the pupil’s awareness of their own traits and trigger discussions about the typical psychological factors that influence financial decision making.

English

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