Teaching Financial Literacy at University: Online and Face-to-Face Evaluations
28 Pages Posted: 18 Aug 2017
Date Written: August 18, 2017
This paper provides information about effective delivery of financial literacy knowledge and skills to individuals at a time in their lives when major financial decisions are looming, including housing purchases, superannuation choices and substantial debt decisions. We compare outcomes from two single-semester university units of study taught in 2016 on personal finance. One unit is delivered face-to-face (The University of Western Australia) whereas the second unit is delivered online (Macquarie University). Pre and post surveys were administered to more than 1200 students across the universities, collecting measures of financial demographics, personal traits, financial literacy, intentions to perform positive financial behaviours and measures of personal financial socialisation. Overall, we find that completion of both units is associated with higher financial literacy measures, with no indication of overconfidence associated with higher financial literacy. In comparative analyses, we find more robust and larger size effects for the face-to-face delivery format, and overall lower scores for female students.
Keywords: Financial Literacy, Literacy
JEL Classification: A22, D14, I22
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