Multiple Pathways to Financial Literacy: Evidence on the Impact of Practical Applications of Financial Tasks and Analytical Learning

Laura Brunner, Maddalena Davoli () and Uschi Backes-Gellner

No 240, Economics of Education Working Paper Series from University of Zurich, Department of Business Administration (IBW)

Abstract: Financial literacy has become increasingly important for financial well-being. While studies show that formal schooling and its analytical learning methods enhances financial literacy, little is known about whether and, if so, how the practical applications in vocational education, contribute to it. We examine whether financial literacy differs across vocational occupation clusters with different requirements, practical applications or learning pathways, and what factors might explain such differences. Our results show two effective pathways to acquiring financial literacy: (1) analytical learning of financial concepts and (2) repeated practical applications of financial and economic concepts in everyday occupational tasks. Both demonstrate the important role that vocational education can play in fostering financial literacy.

Keywords: Financial Literacy; Vocational Education and Training; Human Capital Formation; Skill Acquisition; Occupational Heterogeneity (search for similar items in EconPapers)
JEL-codes: D91 I21 J24 (search for similar items in EconPapers)
Pages: 47 pages
Date: 2025-05
New Economics Papers: this item is included in nep-fle and nep-lma
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Persistent link: https://EconPapers.repec.org/RePEc:iso:educat:0240

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