The Knowledge and Skills That Are Essential to Make Financial Decisions: First Results From PISA 2012

Abstract

Using a multilevel analysis with data from PISA 2012, we find that the differences in financial literacy of 15-year-old students are explained by both individual and school characteristics. This paper finds that the financial education is positively related to students financial literacy scores when it is taught as a cross-curricular subject and as part of business or economics courses, and to a lesser extent as part of mathematics and as an extracurricular activity. Also, math and reading abilities, and holding a bank account and a prepaid debit card, contribute positively to the development of financial literacy, while financial unfamiliarity contributes negatively.Helen De Cruz and Johan De Smedt. A Natural History of Natural Theology: The Cognitive Science of Theology and Philosophy of Religion. Cambridge; London: MIT, 2015. 246 pp.