Elementary Preservice Teachers’ and Teacher Educators’ Perceptions of Financial Literacy Education

Financial literacy in Turkish preschool education

“…Similarly, in the studies which aim to determine financial literacy knowledge of in-service teachers and candidate teachers, it is seen that the level of financial literacy is low in both groups (Lucey, 2008;Akhan, 2015;Lucey, Meyers and Smith, 2017). Not only teachers but also academicians have a low level of selfconfidence in teaching financial concepts (Henning and Lucey, 2017). OECD suggests that teachers should be supported on training for financial issues, getting sources for these issues, being aware of the importance of financial education and teaching financial concepts as consistently (OECD/INFE, 2015).…”

Does the content of financial literacy education resources vary based on who made or paid for them?

“…Furthermore, children are faced with having to make financial choices, even from a young age (McCormick, 2009). The challenge is that elementary school teachers often report feeling unqualified to teach financial literacy (Henning and Lucey, 2017; Ontario Ministry of Education Working Group on Financial Literacy, 2010; PACFC, 2013).…”

“…At least one Canadian province explained its decision to create a new financial literacy curriculum as a response to “requests from the education sector and industry stakeholders ” (Government of Saskatchewan, 2018: 1). Teachers are not necessarily opposed to engaging with industry on this issue: in one study of pre-service teachers and teacher educators, respondents supported collaborating with “members of the local financial services industry” to teach financial literacy in school (Henning and Lucey, 2017: 167–168).…”

“…The decade since the global financial crisis has seen an increase in the number of mandated financial literacy curricula (Batty et al, 2015). The addition of financial literacy education to mandatory school curricula increases the burden on teachers, who frequently lack the training, background, and confidence to teach in this area (Henning and Lucey, 2017). One often proposed response to alleviate this burden is to leverage the resources of financial services companies, including banks, credit unions, and payment networks (e.g., VISA) to provide financial literacy education resources (Batty et al, 2015; Organization for Economic Cooperation and Development [OECD], 2013; Task Force on Financial Literacy, 2010).…”

What do economic scholars consider powerful economic knowledge of importance for people in their private and public lives? Implications for teaching and learning economics in social studies

“…Perhaps a contributory reason for people's seeming lack of economic knowledge is that even in-service and pre-service social studies teachers, who are or will be responsible for providing basic economic education, show a low level of economic understanding, which negatively affects their ability to teach economics (McKenzie 1971;Garman 1979;McKinney et al 1990;Sosin, Dick, and Reiser 1997;Grimes, Millea, and Thomas 2010;Asano, Yamaoka, and Abe 2013;Anthony, Smith, and Miller 2015). Research likewise suggests that high school social studies teachers in the US seem to have minimal training in economics and that social studies pre-service teachers have less formal training in economics than those in many other social studies disciplines (Maier and Nelson 2007;Miller and VanFossen 2008;Ayers 2016;Henning and Lucey 2017). Research from Sweden indicates that pre-service social studies teachers have insufficient economic knowledge and find it difficult to teach economics (Bernmark-Ottosson 2009; Kristiansson 2014; Modig 2017), whereas Finnish research finds that social studies teachers need additional economics training (Löfström and van den Berg 2013).…”