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  • Adolescents' and young adults' naive understandings of the economic crisis

    Author(s)
    Berti, Anna Emilia
    Ajello, Anna Maria
    Aprea, Carmela
    Castelli, Ilaria
    Lombardi, Elisabetta
    Marchetti, Antonella
    Massaro, Davide
    Sappa, Viviana
    Valle, Annalisa
    Griffith University Author(s)
    Sappa, Viviana
    Year published
    2017
    Metadata
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    Abstract
    Over the last decade, Financial Literacy (FL) and interventions aimed at improving it, that is Financial Education (FE), have been the focus of increased attention from economists, governments, and international organizations such as the world Bank and OECD, but much less by scholars in the fields of Learning and Instruction. We examined open-ended written answers on the causes of the economic crisis that started in 2007-2008, as given by 381 Italian secondary school and university students, and 268 Swiss Italian-speaking secondary school students. Most Italian students mentioned internal political causes (i.e., corrupt ...
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    Over the last decade, Financial Literacy (FL) and interventions aimed at improving it, that is Financial Education (FE), have been the focus of increased attention from economists, governments, and international organizations such as the world Bank and OECD, but much less by scholars in the fields of Learning and Instruction. We examined open-ended written answers on the causes of the economic crisis that started in 2007-2008, as given by 381 Italian secondary school and university students, and 268 Swiss Italian-speaking secondary school students. Most Italian students mentioned internal political causes (i.e., corrupt politicians or inefficiency of the government), whereas Swiss students mentioned banks more often. International factors were rarely mentioned by either group, and explanations were generally very poor, listing a few causes without making connections between them. These findings indicate the need for economics education aimed at making people more knowledgeable of the workings of the economic system and the effects of financial systems on the real economy.
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    Journal Title
    Europe’s Journal of Psychology
    Volume
    13
    Issue
    1
    DOI
    https://doi.org/10.5964/ejop.v13i1.1187
    Subject
    Economics
    Social Sciences
    Psychology, Multidisciplinary
    Psychology
    Financial Literacy
    lay explanations
    Publication URI
    http://hdl.handle.net/10072/409026
    Collection
    • Journal articles

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