DOCSLIB.ORG

Financial Literacy As Citizenship Education – a Viable Prospect? Journal of Social Science Education, 19(3): 4-20

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Financial Literacy As Citizenship Education – a Viable Prospect? Journal of Social Science Education, 19(3): 4-20 http://www.diva-portal.org This is the published version of a paper published in Journal of Social Science Education. Citation for the original published paper (version of record): Björklund, M., Johan, S. (2020) Financial Literacy as Citizenship Education – a viable prospect? Journal of Social Science Education, 19(3): 4-20 https://doi.org/10.4119/jsse-3230 Access to the published version may require subscription. N.B. When citing this work, cite the original published paper. Permanent link to this version: http://urn.kb.se/resolve?urn=urn:nbn:se:kau:diva-81316 Article 4 Financial Literacy as Citizenship Education – a viable prospect? Mattias Björklund Karlstad University Johan andahl Stockholm University !eywords# Financial literac', citi(en#)i% education, #ocial #tudie# - *)e OE+D definition of financial literac' concern# mone' mana-ement on an individual level. - Social #cience education #)ould include financial literac' in a more ela/orate 0a'. - Financial literac' teac)in- #)ould ena/le #tudent# to di#cu## %o##i/le #ocietal c)an-e#. $urpose: *)i# article ai,# to di#cus# 0)at 1ind of teac)in- i# re2uired to ena/le #tudent# to criticall' revie0 financial i##ue# in a 0a' t)at i# in accordance 0it) a /road citi(en#)i% education. Method: +ontent anal'#i# 0)ere an a##e##,ent of #tudent#3 an#0er# 0a# co,%ared and ali-ned 0it) 4e#t)eimer 5 6a)ne3# (200 ) t)eor' dri.en conce%tion# of citi(en#)i%. Findin%s# Findin-# de,on#trate t)at #tudent#3 under#tandin-# corre#%ond 0it) t)e t)ree conce%tion# and -ive i,%ortant indication# of 0)at need# to /e included in teac)in- in order to addre## financial i##ue# a# citi(en#)i% education. &'plications# &ocus in financial literac' education #)ould /e 0idened to include %olitical and #ocial a#%ect# of t)e relation /et0een )ouse)old# and t)e financial #'#te,#. 1 &()*+,-C)&+( In S0eden, a# 0ell a# el#e0)ere in t)e 0orld, financial re#%on#i/ilitie# of individual# SSE )a.e increa#ed in t)e la#t 30 'ear#. Lia/ilitie# often concern )ousin-, %en#ion# and )ealt)care 0)ic) re#ult in liai#on# /et0een individual# and t)e financial #'#te, t)rou-) J mort-a-e#, #avin-# and in#urance#. *)e#e ne0 commitment# create a need for an Journal of Social Science ela/orated financial co,%etence and ca%acit' (Luce' 5 Bate#, 2012). 9et, t)i# )a# Education %ro.ed t)e /e a co,%le: i##ue. *)e call for financial co,%etence 0a# reco-ni#ed /' t)e Vol. 19, No. 3 (2020) DOI 10.4119/"##e-3230 Or-ani#ation for Economic +o-o%eration and Develo%ment ;OE+D] and ot)er #ta1e$ %%. 4-20 )older#, e#%eciall' after t)e financial cri#e# in 200= 0)en effort# 0ere inten#ified to Corresponding author: ?attia# 8"@r1lund, *)e +enter for Social Science Didactic# (CSD), 6arl#tad Ani.er#it', Ani.er#itets-atan 2, 651 88 6arl#tad, S0eden, E$,ail> ,attia#.b"or1lundD)#d.su.se &inancial 7iteracy a# +itizen#)i% Education 5 %romote financial literac' amon- 'oun- %eo%le in educational #'#te,# (A%rea et al., 201BE Lu#ardi, 200=E Xu 5 Gia, 2012). *)e OE+D definition of financial literac' (OE+D, 201B, %.8C) to-et)er 0it) it# related HISA te#t (OE+D, 201C) )a# #er.ed a# an i,%ortant /ac1dro% to re#earc) di#cus#ion# a# 0ell a# curricular i,%lementation# (Bo##)ardt, 201B). Io0ever, t)e OE+D financial literac' a%%roac) mainl' concern# mone' mana-ement on a %er#onal le.el #uc) a# /ud-et and co,%ound intere#t (OE+D, 201=). *)i# ma1e# t)e OE+D definition inade2uate #ince it mainl' %romote# a li,ited num/er of %er#onal co,%etencie# directed to0ard# earnin- an inco,e and rational economical t)in1in- (Jet(mann 5 See/er, 201B) a# 0ell a# %lacin- all financial re#%on#i/ilitie# on t)e individual (Davie#, 201C). Furt)ermore, t)e OE+D focus on %er#onal financial i##ue#, #uc) a# con#umption and mana-in- financial %roduct# do not )el% citi(en# to ma1e #en#e of t)e financial and economic #'#te,# (Berti, 201B). *)us, t)e OE+D financial literac' definition can mainl' /e under#tood a# a literac' ai,in- at le-itimi#in- t)e current financial #'#tem rat)er t)an criticall' revie0in- it (A%%le et al., 2009E Art)ur, 2012E Vi#ano 5 E1$Adofia, 201B), )ence aimin- at #ociali#in- and 2ualif'in- learner# into e:i#tin- 0orld order# (Bie#ta, 2011). *)i# rai#e# 2ue#tion# re-ardin- t)e ai, 0it) financial literac' teac)in-, e#%eciall' 0)en financial literac' education i# #een 0it)in t)e conte:t of #ocial #cience education. In S0eden, financial literac' i# incor%orated in #ocial #tudie#, a #c)ool #u/"ect con#i#tin- of %olitical #cience, economic#, #ociolo-' and la0 (S0edi#) National A-enc' for Education ;SNAE<, 2011) and current re#earc) indicate t)at S0edi#) #ocial #tudie# teac)er# #ee, to %er$ ceive financial literac' a# /ein- mainl' mone' mana-e,ent, )ence follo0in- t)e OE+D a%%roac) (8"@r1lund, 2019, 2020). Io0ever, #ocial #cience education in S0eden ai, at a 0ider citi(en#)i% conce%tion t)an ,erel' ta1in- %er#onal re#%on#i/ilit' and actin- 0it)in a current %olitical #'#tem, i.e. to en-a-e in #ocial i##ue# in order to di#cus# %o##i/le #ocietal c)an-e# (E1man, 2011E Sanda)l, 201Ca, 201C/). *)i# under#tandin- of different 1ind# of citi(en#)i% a%%roac)e# i# in line 0it) 4e#t)eimer 5 6a)ne3# (200 ) t)ree different conce%tion# of citi(en#)i% i.e. Kre#%on#i/le3, K%artici%ator'3 and K#ocial$"ustice oriented3 0)ere t)e OE+D definition onl' fit# 0it) t)e re#%on#i/le and %artici%ator' citi(en#)i%, /ut not 0it) t)e "ustice-oriented citi(en 0)ere #tudent# are e,%o0ered 0it) 1no0led-e and #1ill# t)at can /rin- a/out #ocial, %olitical and economic c)an-e. *)i# al#o #ee,# to re#onate in national curricula and #'lla/i 0)ere financial literac' definition# follo0 t)e OE+D a%%roac), 0it)out connection# to a 0ider definition of t)e role of citi(en# (cf. LefranLoi# et al., 201M). *)e ai, of t)e article i# to e:%lore t)e relation#)i% /et0een financial literac' and citi(en#)i% education and e:amine )o0 teac)in- can /e de#i-ned to allo0 #tudent# to tran#for, t)eir under#tandin- of financial matter# fro, #o,et)in- -i.en and individual to #omet)in- more d'namical and #ocietal. 8' e:aminin- #tudent# under#tandin- of a financial i##ue t)rou-) t)e len# of 4e#t)eimer 5 6a)ne (200 ) t)e follo0in- re#earc) 2ue#tion# are addre##ed> $ In 0)at 0a'# do #tudent# under#tand t)e role of citi(en# in financial i##ue# and 0)at i# needed in order for #tudent# to tran#form t)eir under#tandin-N $ Io0 can #tudent#3 conce%tion# re-ardin- t)e relation /et0een individual# and t)e financial #'#te, /e utili#ed to de#i-n a financial literac' teac)in- in ter,# of citi(en#)i% educationN . F&(/(C&/L L&)E*/C0 E,-C/)&+( /(, C&)&1E( 2&$ E,-C/)&+( - )4+ C+MM&)ME() +* +(E? *raditionall', ,one' mana-ement )a# /een con#idered a %er#onal and moral i##ue 0)ere %ru- dence and %atience are attri/ute# t)at -uarantee financial #ucce## (Luce' 5 Bate#, 2012). Since t)e 19903#, )o0ever, t)ere )a# /een a de/ate amon- educational re#earc)er# ar-uin- for financial literac' education - often %re#ented a# a mean# for individual# to /e a/le to interact 0it) an e.er more co,%licated financial land#ca%e (Lusardi, 200=E Xu 5 Gia, 2012). Her)a%#, t)i# could &inancial 7iteracy a# +itizen#)i% Education 6 /e #een in a 0ider educational %er#%ective 0)ere ai,# and ,ean# often concern future utilit' for /ot) learner# and #ociet' (Bie#ta, 2011E 9oun-, 2013). In t)i# de/ate, t)e OE+D (201B) defi$ nition of financial literac' )a# #erved a# an i,%ortant /ac1dro% (Bo##)ardt, 201B). Still, an e%i#temic ori-in of t)e OE+D definition of financial literac' i# difficult to trace, leadin- to con$ clusion# t)at financial literac' i# inco,%re)en#i/leE con#e2uentl', teac)in- tool# for co,$ %re)en#ion are non-e:i#tin- or unreac)a/le on la'-le.el (Je,,ele, 201B). In addition, teac)er# often lac1 formal financial literac' trainin- in t)eir educational /ac1-round, 0)ic) lead t)e, to use ot)er co,%etencie# to co,%en#ate. 4)en taug)t to-et)er 0it) #ocial #tudie#, teac)er# #tru--le 0it) fittin- financial literac' into a #ocietal conte:t, 0)ic) #ee, to /e related to tea$ c)er# %erceivin- financial literac' a# mainl' %rivate ,one' mana-ement (8"@r1lund, 2019, 2020). *o furt)er co,%licate t)e #ituation, #u--e#tion# re-ardin- #ufficient financial literac' educational a%%roac)e# are manifold.
Load more

Recommended publications
  • Financial Literacy: an Essential Tool for Informed Consumer Choice?
    NBER WORKING PAPER SERIES FINANCIAL LITERACY: AN ESSENTIAL TOOL FOR INFORMED CONSUMER CHOICE? Annamaria Lusardi Working Paper 14084 http://www.nber.org/papers/w14084 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 June 2008 I would like to thank Keith Ernst, Howell Jackson, Kevin Rhein, Peter Tufano, and participants to the conference "Understanding Consumer Credit: A National Symposium on Expanding Access, Informing Choices, and Protecting Consumers," Harvard Business School, November 2007, and the conference "Consumer Information and the Mortgage Market," Federal Trade Commission, Washington, D.C., May 2008 for suggestions and comments. This paper builds on several projects I have written in collaboration with Olivia Mitchell, whom I would like to thank for her encouragement, support, and many suggestions. Audrey Brown provided excellent research assistance. Any errors are my responsibility. This paper was written while visiting Harvard Business School and I would like to thank them, and in particular Peter Tufano, for their hospitality. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research. NBER working papers are circulated for discussion and comment purposes. They have not been peer- reviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications. © 2008 by Annamaria Lusardi. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, including © notice, is given to the source. Financial Literacy: An Essential Tool for Informed Consumer Choice? Annamaria Lusardi NBER Working Paper No.
    [Show full text]
  • President's Advisory Council on Financial Literacy
    President’s Advisory Council on Financial Literacy A D V I S O ’ S R T Y N C E O D U I N S C E I R L P O Y N C A F R I N E A I T N C I A L L 2008 Annual Report to the President President’s Advisory Council on Financial Literacy “ We want people to own assets; we want people to be able to manage their assets. We want people to understand basic financial concepts, and how credit cards work and how credit scores affect you, how you can benefit from a savings account or a bank account. That’s what we want. And this group of citizens has taken the lead, and I really thank them…” “ When we look back at this council…people will say we’re glad that the administration took the action it took because somebody’s life is going to be better as a result of it.” President George W. Bush January 22, 2008 THE DEPARTMENT OF THE TREASURY III President’s Advisory Council on Financial Literacy Members of the President’s Advisory Council on Financial Literacy Charles R. Schwab, Chairman and Founder, The Charles Schwab Corporation, San Francisco, California – Chairman John Hope Bryant, CEO and Founder, Operation HOPE, Los Angeles, California – Vice Chairman Ted Beck, President and CEO, National Endowment for Financial Education (NEFE), Greenwood Village, Colorado Ted Daniels, President and CEO, Society for Financial Education and Professional Development, Arlington, Virginia Vice Admiral Cutler Dawson, President and CEO, Navy Federal Credit Union, Vienna, Virginia Dr.
    [Show full text]
  • State Banking on Financial Literacy New Model Debt Policy Released; Deadline for Public Input Sept 15
    1-TENNESSEE TOWN & CITY/AUGUST 23, 2010 www.TML1.org 6,250 subscribers www.TML1.org Volume 61, Number 14 August 23, 2010 Haslam, McWherter to face off in November GOP candidate Knoxville Mayor Bill Haslam prevailed in a three-way Republican primary race for governor. He won with 47 percent of votes, followed by 3rd District U.S. Rep. Zach Wamp in second place with almost 30 percent and Lt. Governor Ron Ramsey in third with 22 percent. Save the Dates! Meanwhile, West Tennessee businessman Mike McWherter is uncontested on the Demo- TML Annual Conference cratic side. He was unopposed after four Democratic opponents withdrew from the race. The two candidates will square off in three June 12 - 14, 2011 gubernatorial debates planned for this fall with the first scheduled for Sept. 14 in Cookeville. Congress Murfreesboro Convention Center Several Congressional races were also hotly contested. In District 9, incumbent Steve Cohen easily won his democratic primary over New Model Debt Policy former Memphis Mayor Willie Herenton. Cohen received 79 percent of the vote over GOP candidate Knoxville Herenton’s 21 percent. Mayor Bill Haslam will released; deadline for GOP challengers battled it out in District 8, face Democratic nomi- with Stephen Fincher winning the primary with nee Mike McWherter in 48.5 percent over Ron Kirkland’s 24.4 percent the November general public input Sept 15 and George Flinn’s 24 percent. Fincher will election, to determine face state Sen. Roy Herron, the Democratic who will serve as the 49th State Comptroller Justin Wilson Tennessee governmental debt issu- nominee, in the general election for the chance Governor of Tennessee.
    [Show full text]
  • Texas Essential Knowledge and Skills for Kindergarten §110.11. English
    revised August 2017 Texas Essential Knowledge and Skills for Kindergarten §110.11. English Language Arts and Reading §116.2. Physical Education §111.2. Mathematics §117.102. Art §112.11. Science §117.103. Music §113.11. Social Studies §117.104. Theatre §114.4. Languages Other Than English §126.6. Technology Applications §115.2. Health Education §110.11. English Language Arts and Reading, Kindergarten, Beginning with School Year 2009-2010. (a) Introduction. (1) The English Language Arts and Reading Texas Essential Knowledge and Skills (TEKS) are organized into the following strands: Reading, where students read and understand a wide variety of literary and informational texts; Writing, where students compose a variety of written texts with a clear controlling idea, coherent organization, and sufficient detail; Research, where students are expected to know how to locate a range of relevant sources and evaluate, synthesize, and present ideas and information; Listening and Speaking, where students listen and respond to the ideas of others while contributing their own ideas in conversations and in groups; and Oral and Written Conventions, where students learn how to use the oral and written conventions of the English language in speaking and writing. The Reading strand is structured to reflect the major topic areas of the National Reading Panel Report. In Kindergarten, students engage in activities that build on their natural curiosity and prior knowledge to develop their reading, writing, and oral language skills. (2) For students whose first language is not English, the students' native language serves as a foundation for English language acquisition. (A) English language learners (ELLs) are acquiring English, learning content in English, and learning to read simultaneously.
    [Show full text]
  • School Shooting, Violence and the Reconstruction of Education
    Forthcoming in The Possibility/Impossibility of a New Critical Language in Education, edited by Ilan Gur-Zeev. Rotterdam: Sense Publishers. School Shootings, Violence, and the Reconstruction of Education: Some Proposals Douglas Kellner In my book Guys and Guns Amok: Domestic Terrorism and School Shootings from the Oklahoma City Bombings to the Virginia Tech Massacre (Kellner 2008), I have argued that there are many causes to the rise of school violence and events like the Columbine and Virginia Tech school shootings. Complex historical events like the Iraq invasion or the Virginia Tech and Columbine shootings require a multiperspectivist vision and interpretation of key factors that constitute the constellation from which events can be interpreted, explained, and better understood. Thus addressing the causes of problems like societal violence and school shootings involves a range of apparently disparate things such as critique of male socialization and construction of ultramasculine male identities, the prevalence of gun culture and militarism, and a media culture that promotes violence and retribution, while circulating and sensationalizing media spectacle and a culture of celebrity. Such a constellation helps construct the identities, values, and behaviour that helps incite individuals to use violence to resolve their crises of masculinity through creation of an ultramasculine identity and media spectacle, producing guys and guns amok. Accordingly, solutions that I suggest to the problems of school violence and shootings in Guys and Guns Amok range from more robust and rational gun laws, to better school and workplace security with stronger mental health institutions and better communication between legal, medical, and school administrations, to the reconstruction of masculinity and the reconstruction of education for democracy.
    [Show full text]
  • Grade 11 Argumentative Performance Task: Mandatory Financial Literacy Classes 1
    Grade 11 Writing Prompt Write an essay for your state school board arguing whether or not credit from a financial literacy class should be required for graduation. Your essay must be based on ideas, concepts, and information from the “Mandatory Financial Literacy?” passage set. Manage your time carefully so you can • plan your essay; • write your essay; and • revise and edit your essay. Be sure to • include a claim; • address counterclaims; • use evidence from multiple sources. Do not over rely on one source. Type your answer in the space provided. Grade 11 Argumentative Performance Task: Mandatory Financial Literacy Classes 1 Working Financial Literacy in With the Three R's by Tara Siegel Bernard Most Americans aren't fluent in the language of money. Yet we're expected to make big financial decisions as early as our teens—Should I take on thousands of dollars of student debt? Should I buy a car?—even though most of us received no formal instruction on financial matters until it was too late. While no course in personal finance could have prevented many Americans from getting caught up in the housing bubble, 1 it's clear that most of us need some help, preferably starting when we're still in school. And I'm not just talking about learning to balance your checkbook. It's about understanding concepts like the time value of money, risk, and reward, and, yes, the importance of savings. All of this raises these questions: What's happening inside our classrooms? And how many schools even broach the topic? As it turns out, for a country that prizes personal responsibility, we're doing very little.
    [Show full text]
  • Critical Review of the Goals for Financial Literacy
    Philippe Turineck Critical review of the goals for financial literacy Critical review of the goals for financial literacy Abstract: Financial literacy is an emerging field that is still in a phase of transition into K-12 schools. The importance of teaching financial literacy in schools is now highly recognized (Lusardi & Mitchell, 2014). Not only is financial literacy education implemented in many curricula around the world, the Organization for Economic Cooperation and Development (OECD) has administered a financial literacy assessment in 2012 and 2015 via their triennial Program for International Student Assessment (PISA). This sent an important message around the world about the importance of financial literacy in schools. The field has not had all its parameters defined and there is a need to identify what is meant by “financial literacy” and what are the goals of this new emerging field. Thus, this review seeks to synthesize and summarize common themes and trends among financial literacy literature to shed light on the goals and definitions of financial literacy. An exploration of how this field is defined within mathematics and the goals for teaching this within the discipline of mathematics will explored. Further, this review will explore how financial literacy tasks are used in the mathematics classroom and how researchers design and implement these tasks. Motivation problem: The importance of Financial Literacy Education has been fueled by the most recent financial crisis in 2008. This led many of scholars to recognize how financial literacy education can contribute to sustainable economic development and individuals’ economic well beings (Arthur, 2012). It maintains that financial literacy is a competency combined from life skills, thinking skills, financial knowledge and empowerment (Arthur, 2012).
    [Show full text]
  • OECD/INFE 2020 International Survey of Adult Financial Literacy
    OECD/INFE 2020 International Survey of Adult Financial Literacy 1 OECD/INFE 2020 International Survey of Adult Financial Literacy OECD/INFE INTERNATIONAL SURVEY OF ADULT FINANCIAL LITERACY © OECD 2020 2 Please cite this publication as: OECD (2020), OECD/INFE 2020 International Survey of Adult Financial Literacy www.oecd.org/financial/education/launchoftheoecdinfeglobalfinancialliteracysurveyreport.htm This document and any map included herein are without prejudice to the status of or sovereignty over any territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area. © OECD 2020 You can copy, download or print OECD content for your own use, and you can include excerpts from OECD publications, databases and multimedia products in your own documents, presentations, blogs, websites and teaching materials, provided that suitable acknowledgment of OECD as source and copyright owner is given. All requests for commercial use and translation rights should be submitted to [email protected]. OECD/INFE INTERNATIONAL SURVEY OF ADULT FINANCIAL LITERACY © OECD 2020 3 Foreword Financial education, financial consumer protection and financial inclusion are recognised at the highest policy level as three essential ingredients for the financial empowerment of individuals and the overall stability of the financial system, as highlighted through three sets of high-level principles endorsed by G20 leaders: Innovative Financial Inclusion (2010); Financial Consumer Protection (2011); and National Strategies for Financial Education (2012). As indicated in the High-level Principles on National Strategies, developed by the OECD International Network on Financial Education (OECD/INFE), assessing the financial literacy competencies of the population is a key component of a successful national strategy.
    [Show full text]
  • Senate Bill No. 314–Senators Woodhouse, Denis, Dondero Loop, Parks; Brooks and Cancela
    Senate Bill No. 314–Senators Woodhouse, Denis, Dondero Loop, Parks; Brooks and Cancela CHAPTER.......... AN ACT relating to education; establishing a State Seal of Financial Literacy; requiring the Department of Education to establish a Financial Literacy Month; establishing the State Financial Literacy Advisory Council; establishing provisions relating to obtaining an endorsement to teach courses relating to financial literacy; and providing other matters properly relating thereto. Legislative Counsel’s Digest: Existing law establishes the State Seal of STEM and the State Seal of STEAM. (NRS 388.594-388.5975) Section 3 of this bill similarly establishes a State Seal of Financial Literacy. Section 4 of this bill establishes the requirements for earning a State Seal of Financial Literacy. Section 5 of this bill requires the Department of Education to establish a Financial Literacy Month, to be held once each school year. Section 5 further requires certain activities to be included in the Financial Literacy Month to the extent money is available. Section 7 of this bill requires the governing body of each regional training program for the professional development of teachers and administrators to coordinate with the Department of Education to provide an annual summit at the beginning of Financial Literacy Month. Section 5.5 of this bill establishes the State Financial Literacy Advisory Council. Section 5.7 of this bill outlines the responsibilities of the Council. Section 6 of this bill requires the Commission on Professional Standards in Education to establish the requirements for obtaining an endorsement in teaching courses relating to financial literacy. (NRS 391.019) Existing law also requires a regional training program for the professional development of teachers and administrators to provide certain training for educational personnel.
    [Show full text]
  • Teaching Financial Literacy Education Needs to Be on the Forefront of Economic Policy and Education
    33 Queens Street, Suite 100, Syosset, NY 11791 VOICE (800) NUA-4556 or (516) 802-4192, FAX (516) 921-0298 www.nuatc.org Teaching Financial Literacy Education needs to be on the forefront of economic policy and education. “Literacy in schools often refers to reading, writing and arithmetic. However real life learning, as demonstrated by our current economic crisis, reinforces our belief that the teaching of financial literacy should no longer be an option for the children in our nation’s schools. Our job is to help teachers integrate financial literacy into existing curriculum and to make learning relevant to the needs of today’s students.”1 - Dr. Gerald Lauber, National Urban Alliance It has become increasingly evident that nations around the globe are still in the grip of the worst economic freefall since the Great Depression. Crisis, as we know, also provides opportunity. Over fifty years ago, the launching of Sputnik jarred our national view of science education and provided the impetus for refocusing our nation’s priorities. Today this epic financial crisis must turn our attention to how and what we teach our children about sound financial practices. America's promise, self-actualization for all citizens, should be founded on education and critical thinking with an emphasis on financial literacy. For decades, our education system has failed to equip Americans with basic financial knowledge and thinking strategies needed to insure that we have educated consumers. The symptoms of this lack of financial literacy are all around us and are reflected in the current low savings rates, the mortgage crisis, the debt burden carried by so many Americans, and their increasing sense of fiscal and personal despair.
    [Show full text]
  • Paulo Freire's Influence in Rural Uganda
    DSJ, 6(1), 65-82 ISSN: 2578-2029 Copyright © 2021 Research Articles Challenging Socio-Economic Marginalization: Paulo Freire’s Influence in Rural Uganda Fred Jenga University of Texas at Austin INTRODUCTION aulo Freire’s thinking on marginalization, adult education, and sustainable development has been explored in different parts of Africa (Alexander, 1990; Ikechukwu, 1995; Mda, 1994; P Nekhwevha, 2002; Okigbo,1991; Prinsloo, 1987; Vally, 2007; Wamba dia Wamba, 1994), but none of the studies pays attention to the element of theology. This essay explores the intersection of Freirean thinking on adult education, Catholic social teaching, and liberation theology in addressing socio-economic marginalization in rural Uganda. Through the work of Atanansi Community Based Organization in rural Uganda, the study illustrates the effectiveness of Freirean methods in undoing the complex process of marginalization, and the ensuing self- empowerment of rural communities. In the first section I highlight the global and local background upon which the marginalization of people in rural Uganda has been built, and in the second section I explain the Christian faith impulses that drove the local interventions. In the third section I explain the application of the ideas of liberation theology and Paulo Freire in the founding and operation of Atanansi Community Based Organization. In the last section I discuss the social impact of Freire’s ideas in the community, and on me personally. NEOLIBERAL REFORMS, CORRUPTION, AND SOCIO-ECONOMIC EXCLUSION IN UGANDA eidhues and Obare (2011) argue that in the 1960s when most African countries got independence, the majority of African leaders believed that the private sector was too Hback -ward and that government had to play the dominant role.
    [Show full text]
  • Grade 11 Argumentative Performance Task: Mandatory Financial Literacy Classes 1 Sources for Performance Task
    Grade 11 Argumentative Performance Task: Mandatory Financial Literacy Classes Task: In your economics class, you are discussing the importance of making smart financial decisions. Your teacher tells you that, in some school districts, students are required to take a financial literacy class before graduating. Your school board is hosting a meeting to decide whether to offer such a course for graduation and wants students to contribute their perspectives. As part of your initial research, you have found four sources about financial literacy classes. After you have reviewed these sources, you will answer some questions about them. Briefly scan the sources and the three questions that follow. Then, go back and read the sources carefully so you will have the information you will need to answer the questions and finalize your research. In Part 1, you will answer questions about the reading passages. In Part 2, you will write an argumentative essay using information you have read. Directions for Beginning: You will now examine several sources. You can re-examine any of the sources as often as you like. Research Questions: After examining the research sources, use the rest of the time in Part 1 to answer three questions about them. Your answers to these questions will be scored. Also, your answers will help you think about the information you have read and reviewed, and should help you write your argumentative essay. Answer the questions in the spaces below the items. Grade 11 Argumentative Performance Task: Mandatory Financial Literacy Classes 1 Sources for Performance Task: Source #1 This article, from April 9, 2010, is from the New York Times, and is about the potential benefits of financial literacy courses.
    [Show full text]