Publication of the Financial Education paper on the impact assessment of financial education interventions (3 August 2022)

The Financial Education Research Paper no. 2 about "Tools for impact assessment of financial education in upper secondary school. Evidence from a qualitative survey " has been published.

The Research Paper illustrates the main evidence of a focus group, run by CONSOB in the second half of 2021, aimed at gathering useful information for the development of tools for assessing the effectiveness of financial education initiatives for secondary schools. The survey involved some of the teachers who had joined the Project "Finance, a story to tell ...: from bartering to Bitcoin", launched for the first time in 2018 by CONSOB, in collaboration with the Regional School Office (Usr) of Lombardy, at the basis of the didactic model illustrated in the first paper of the financial education series, the result of the collaboration between CONSOB, Usr and the teachers involved. In detail, the Project Finance, a story to tell ... provides for a first stage of teacher training, supervised by CONSOB, and a second one in which teachers transfer the contents to the students of 4th and 5th classes. A profile only partially covered by the Didactic Model involves the evaluation of effectiveness of the Project, based on the administration to both teachers and students of questionnaires aimed at evaluating the effects of the training initiative on knowledge and attitudes; the experience gained, however, highlighted some margins of improvement concerning, for example, findings about the impact on skills.

As part of the focus group, indications were gathered on how to improve the questionnaires prepared by CONSOB with particular reference to the language used, skills to be verified and behaviours to be explored. Furthermore, the need to integrate the questionnaire tool with a 'level assessment' has emerged, to be carried out through simulation exercises or 'reality tasks'. Finally, the teachers expressed their wish to anticipate the financial education path to 2nd and 3rd classes in order to consolidate the notions learned along the school path, strengthen the involvement of students and prevent the propensity to invest through digital platforms which, in the perception of the participants to the survey, is increasingly widespread.

 Financial Education Research Paper no. 2

 Abstract of Financial Education Research Paper no. 2