FINANCIAL LITERACY OF TECHNICALLY ORIENTED STUDENTS IN SLOVAKIA: AN EVALUATION OF FUNDAMENTALS OF FINANCIAL LITERACY
Slovak University of Technology in Bratislava (SLOVAKIA)
About this paper:
Conference name: 14th International Conference on Education and New Learning Technologies
Dates: 4-6 July, 2022
Location: Palma, Spain
Abstract:
Financial literacy is one of the basic areas for education of every person. Today, there is no longer a country whose population does not use financial products to some extent. Slovakia is a specific country where we lag behind in this area in the education of children, students, and seniors. Seniors over the age of 60+ have minimal knowledge in this area, but on the contrary, the most money saved. In addition, students who graduate as graduates mainly from technical schools have minimal knowledge in the field of finance, but the greatest time to create reserves for the future. This ignorance stems mainly from the fact that in practice we often encounter the reluctance of technically oriented students to study economics, finance, and investment. Each student has their own area of focus and, regardless of it, they will encounter the issue. That is why we applied research at the Slovak University of Technology in Bratislava, which identified students' predispositions to study economics and analyzed their financial literacy. The research was conducted over a period of 7 academic years and focused on the willingness of students to complete the elective course: Fundamentals of Financial Literacy. The publication contains relevant data on the development of the number of students who have completed the course and, at the same time, the level of financial literacy and their views on the study of economic subjects using a questionnaire were determined. The results of entrance and output tests that students have taken on a given subject give us proof of what knowledge they had before and after completing the course. In the given research, we have also focused in the last two academic years (2020/2021, 2021/2022) on students' satisfaction with the given subject, their achieved results, reasons for choosing the subject, and especially their interest in studying economic subjects in greater depth in the future. The conclusions of the research further in improving the teaching of economic and managerial subjects at the Slovak University of Technology in Bratislava.Keywords:
Financial Literacy, Innovative Educational System, Online learning and e-learning techniques.