Finanznavi
Stiftung Wirtschaftsbildung
Projects
Evaluating the school pilot program for economic education
To enhance economic and financial literacy, the Austrian foundation for economic education (Stiftung für Wirtschaftsbildung) has initiated a four-year school pilot program aimed at assisting selected schools in integrating a focus on economic education in their curriculum. In collaboration with the Institute for Advanced Studies (IHS) and the University of Duisburg-Essen, we are conducting a comprehensive scientific evaluation of the school pilot program to generate evidence-based insights. To achieve this objective, we are employing a quasi-experimental mixed-methods evaluation approach.
OeNB Financial Literacy Evaluation Series
The OeNB Financial Literacy Evaluation Series of the Oesterreichische Nationalbank is a comprehensive guide that aims to inform researchers, policymakers and educators about the current state of research on financial literacy and education. It provides an overview on the concept of financial literacy, reviews literature addressing the effectiveness of financial education programs and gives guidelines for designing and implementing comprehensive evaluation studies. It includes, among others, guides on quantitative, qualitative and mixed-method evaluation studies. The series is currently in development, with new papers set to be published over the coming months. The series was developed by the OeNB (Theresa Lorenz, Katharina Felbermayr, Sandra Mauser, Valentin Voith and Maximilian Zieser) in collaboration with the Bank of Greece (Sofia Anyfantaki) as part of the ESCB System-wide Virtual Teams Programme.
Evaluating the “Geldwert – Wertvoll” educational program in kindergartens
In September 2023, the one-year pilot project “Geldwert – Wertvoll“ was launched at public Lower Austrian kindergartens (district of Bruck an der Leitha). The project is a collaboration between the OeNB, the regional government of Lower Austria and the Ministry of Social Affairs, Health, Care and Consumer Protection. With this project, we aim to promote financial education (topics around money and saving), consumer education (consumer protection) and values education (living sustainably) in kindergartens. We evaluate the implementation of the one-year pilot project to provide empirical evidence on the implementation of the newly created educational materials. To this end, we apply a participatory mixed-methods evaluation design which focuses on qualitative methods.
Studying the perceptions and needs of active and prospective teachers
Financial literacy is becoming increasingly important in the school curriculum, serving as a vital foundation to prepare students for the financial challenges they face now and in the future. By incorporating financial education into the subject of Geography and Economic Education, as well as making it an interdisciplinary topic, we all aim to equip young students with the knowledge they need to make informed and responsible decisions. Teachers of Geography and Economic Education play a key role in imparting financial literacy to students. Which services can the OeNB offer to support teachers and teachers to-be in this area? We explored this question through a study utilizing focus groups and surveys.
The national financial literacy strategy for Austria – monitoring and evaluation
The national financial literacy strategy for Austria, which was established in 2021, defined a series of specific goals to foster the public’s awareness, understanding and skills concerning financial matters. The long-term goal is to enhance financial well-being among the Austrian population. A broad coalition of national institutions dedicated to financial literacy is supporting this strategy with a range of educational initiatives. We monitor the successes, and any untapped potential, of these collective efforts in cooperation with the Federal Ministry of Finance and the MCI (The Entrepreneurial School®). Starting in 2023, our monitoring involves the annual collection and analysis of data on the existing initiatives to provide a comprehensive overview of the financial education landscape available in Austria.
OECD/INFE International Survey on Adult Financial Literacy
What do people know about their finances and how do they manage their money? The OECD’s International Network on Financial Education (INFE) launched a survey in 2014/2015 to find answers to these questions. Countries from around the world participate in this survey every three years. It provides a solid foundation for the further development of national financial literacy strategies and initiatives. The survey especially helps identify room for improvement in knowledge, attitudes, and behavioral practices, and helps establish a link between financial education and financial well-being. In the latest wave in 2023, questions on digital finance education were added to account for changes in personal financial management due to digitalization. In Austria, the data is collected and analyzed by the OeNB. Insights are shared with other interested parties through publications and incorporated into the further development of Austria’s national financial literacy strategy through various committees.