Teaching Financial Literacy at University: Online and Face-to-Face Evaluations

28 Pages Posted: 18 Aug 2017

See all articles by Paul Gerrans

Paul Gerrans

The University of Western Australia - UWA Business School

Elizabeth Ooi

The University of Western Australia - UWA Business School

Sue Wright

University of Newcastle; Financial Research Network (FIRN)

Date Written: August 18, 2017

Abstract

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

Suggested Citation

Gerrans, Paul and Ooi, Elizabeth and Wright, Sue, Teaching Financial Literacy at University: Online and Face-to-Face Evaluations (August 18, 2017). 30th Australasian Finance and Banking Conference 2017. Available at SSRN: https://ssrn.com/abstract=3021787 or http://dx.doi.org/10.2139/ssrn.3021787

Paul Gerrans

The University of Western Australia - UWA Business School ( email )

Crawley, Western Australia 6009
Australia
61 8 64882910 (Phone)

Elizabeth Ooi

The University of Western Australia - UWA Business School ( email )

Crawley, Western Australia 6009
Australia

Sue Wright (Contact Author)

University of Newcastle ( email )

University Drive
Callaghan, NSW 2308
Australia

Financial Research Network (FIRN) ( email )

C/- University of Queensland Business School
St Lucia, 4071 Brisbane
Queensland
Australia

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