03. S. S. Artemyeva, V. V. Mitrokhin. Financial Literacy Assessment of Domestic and Foreign Young Learners and Recommendations for its Enhancement

LATEST ISSUE

For readers

For authors

For reviewers

SOCIAL NETWORKS

Integration of Education is an open access journal, which means that all content is freely available without charge to the user or his/her institution. Users are allowed to read, download, copy, distribute, print, search, or link to the full texts of the articles, or use them for any other lawful purpose, without asking prior permission from the publisher or the author in accordance with the BOAI definition of open access.

All the materials of the “Integration of Education” journal are made available under a Creative Commons “Attribution” 4.0 license.

Useful Materials

To download article.

UDK 378:336.113

DOI: 10.15507/1991-9468.090.022.201801.046-059

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

Svetlana S. Artemyeva
Professor of Chair of Finance and Credit, National Research Mordovia State University (68 Bolshevistskaya St., Saransk 430005, Russia), Dr.Sci. (Economy), ORCID: http://orcid.org/0000-0002-4256-9399, Scopus ID: 55776026100, This email address is being protected from spambots. You need JavaScript enabled to view it.

Vladimir V. Mitrokhin
Professor of Chair of Finance and Credit, National Research Mordovia State University (68 Bolshevistskaya St., Saransk 430005, Russia), Ph.D. (Economy), ORCID: http://orcid.org/0000-0002-6000-1342, Scopus ID: 55776848300, This email address is being protected from spambots. You need JavaScript enabled to view it.

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 scholarly public.

Keywords: financial literacy, financial education, educational process, educational programmes, student, seniour schoolchildren

Acknowledgements: the article was prepared within the Subproject No. FEFLP/FGI-2-1-6 “Facilitation of Higher Financial Competence of Households and Financial Education Development in Russia” supported by the Finance Ministry of Russian Federation. The authors thank the staff of the Editorial Office and the reviewer for precious comments and recommendations.

For citation: Artemyeva S.S., Mitrokhin V.V. Financial Literacy Assessment of Domestic and Foreign Young Learners and Recommendations for its Enhancement. Integratsiya obrazovaniya = Integration of Education. 2018; 22(1):46-59. DOI: 10.15507/1991-9468.090.022.201801.046-059

Contribution of the authors: Artemyeva S.S. – scientific management; research concept; methodology development; participation in development of curricula and their implementation; writing t he draft; final conclusions. Mitrokhin V.V. – participation in development of curricula and their implementation; follow-on revision of the text; final conclusions.

All authors have read and approved the final manuscript.

Submitted 25.07.2017; revised 22.11.2017; published online 30.03.2018.

PlumX

This work is licensed under a Creative Commons Attribution 4.0 License.