Abstract:

At present, many countries attach considerable importance to the financial literacy of the younger generation. This results in the gradual collection of relevant data, which reflect the level of financial literacy of each group of inhabitants in order to find opportunities for improvement. Price literacy plays an essential role in financial literacy. It includes knowledge necessary to understand price mechanisms and inflation. The paper aims to assess financial literacy of students of a selected Czech university. The data was obtained by quantitative research using a questionnaire survey among respondents (n = 1. 437). The questionnaire survey was conducted in 2018. The respondents were full-time students at three selected universities in the Czech Republic. The results demonstrate that 39.11 % of the respondents are aware of loan policies and annual interest rates. 23.66 % of the respondents reported basic financial knowledge on the Czech National Bank’s minimum required reserves. A middle correlation between gender, education level and field of study and financial knowledge was demonstrated by the data statistical analysis.

Keywords:

Education, finance, price literacy, student, university.