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Full-Text Articles in Education
Pisa 2018: Financial Literacy In Australia, Sue Thomson, Lisa De Bortoli, Catherine Underwood, Marina Schmid
Pisa 2018: Financial Literacy In Australia, Sue Thomson, Lisa De Bortoli, Catherine Underwood, Marina Schmid
OECD Programme for International Student Assessment (PISA) Australia
The Programme for International Student Assessment (PISA) 2018 is the seventh cycle of PISA since it was first conducted in 2000 and measures students’ skills in the core areas of reading literacy, mathematical literacy and scientific literacy. Since PISA 2012, financial literacy has been included as an additional optional assessment that accompanies the core assessments. In Australia, the financial literacy assessment is funded by the Australian Securities and Investment Commission. This report presents the results for the third assessment of financial literacy and focuses on the measurement of financial literacy for Australia as a whole and for different demographic groups, …
Investing Under Uncertainty: Mathematical Models And Computer Simulations, Alfinio Flores
Investing Under Uncertainty: Mathematical Models And Computer Simulations, Alfinio Flores
Colorado Mathematics Teacher
Students do probabilistic models for investment strategies and bankroll management. Students develop a better understanding for the Kelly criterion as a function of paying odds using an interactive graph. Then students conduct computer simulations to compare two investment strategies, first investing a fixed amount, and then using the Kelly criterion.
The Connection Between Financial Literacy And Numeracy: A Case Study From India, J.D Jayaraman, Saigeetha Jambunathan, Kenneth Counselman
The Connection Between Financial Literacy And Numeracy: A Case Study From India, J.D Jayaraman, Saigeetha Jambunathan, Kenneth Counselman
Numeracy
Making financial decisions involves mathematical calculations, both simple and complex. It is a well-documented fact that financial literacy levels among young people all over the world are quite low and that these low levels contribute to various undesirable outcomes with respect to personal financial well-being and the economy as a whole. This study explores the relationship between financial literacy and numeracy by measuring and modeling the relationship between financial literacy and numeracy levels among high school students (N = 586) in India. The results show a strong relationship between numeracy and financial literacy skills. Low numeracy is associated with …
Where Do Students Get Their Money From?, Rebecca Vukovic
Where Do Students Get Their Money From?, Rebecca Vukovic
Teacher infographics
The OECD programme for International Student Assessment (PISA) in 2015 examined 15 year old students’ financial literacy skills. This infographic compares the main sources of income for students from Australia, with the average from participating OECD countries.
Financial Literacy, Jo Earp
Financial Literacy, Jo Earp
Teacher infographics
An international assessment of 15-year-old students' financial literacy includes data on their experiences, attitudes and behaviours, as well as their academic performance. Here are some of the findings from Australia.
The Word Problem Factor: Assessing The Ability Of Utah High School Career And Technical Education Students To Do The Math Involved In Formulating And Calculating Energy Cost Factors, Kristen Bentley
Theses and Dissertations
Much research has been done showing the difficulty people have with word problems. This has been shown to be true for many types of word problems and for different demographics. Questions have remained unanswered regarding the reasons for this difficulty. It has been unclear if the word problems were hard because the people had forgotten or had not yet learned how to do the math calculations involved or for some other reason. This study deals with high school students who are currently in a high school level math class. They were given an assessment involving word problems and number-only problems. …
Numeracy, Financial Literacy, And Financial Decision-Making, Annamaria Lusardi
Numeracy, Financial Literacy, And Financial Decision-Making, Annamaria Lusardi
Numeracy
Financial decisions, be they related to asset building or debt management, require the capacity to do calculations, including some complex ones. But how numerate are individuals, in particular when it comes to calculations related to financial decisions? Studies and surveys implemented in both the United States and in other countries that are described in this paper show the level of numeracy among the population to be very low. Moreover, lack of numeracy is not only widespread but is particularly severe among some demographic groups, such as women, the elderly, and those with low educational attainment. This has potential consequences for …
Quantitative Literacy At Michigan State University, 2: Connection To Financial Literacy, Dennis Gilliland, Vince Melfi, Alla Sikorskii, Edward Corcoran, Eleanor Melfi
Quantitative Literacy At Michigan State University, 2: Connection To Financial Literacy, Dennis Gilliland, Vince Melfi, Alla Sikorskii, Edward Corcoran, Eleanor Melfi
Numeracy
The lack of capability of making financial decisions has been recently described for the adult United States population. A concerted effort to increase awareness of this crisis, to improve education in quantitative and financial literacy, and to simplify financial decision-making processes is critical to the solution. This paper describes a study that was undertaken to explore the relationship between quantitative literacy and financial literacy for entering college freshmen. In summer 2010, incoming freshmen to Michigan State University were assessed. Well-tested financial literacy items and validated quantitative literacy assessment instruments were administered to 531 subjects. Logistic regression models were used to …
Four Popular Books On Consumer Debt: A Context For Quantitative Literacy, Andrew J. Miller
Four Popular Books On Consumer Debt: A Context For Quantitative Literacy, Andrew J. Miller
Numeracy
The topics of credit cards, mortgages, subprime lending, and fringe banking are rich sources of problems and discussions for classes focused on quantitative literacy. In this theme book review, we look at four recent books on the consumer debt industry: Credit Card Nation, by Robert Manning; Maxed Out, by James Scurlock; Collateral Damaged, by Charles Geisst; and Broke, USA, by Gary Rivlin. Credit Card Nation takes a scholarly look at the history of credit in America with a focus on the genesis and growth of the credit card industry up to the turn of the 20th century. Maxed Out also …