IMPROVING FINANCIAL LITERACY IN EUROPE: CONTRIBUTIONS OF THE EFINLIT PROJECT
1 CICE - ISCAP / IPP (PORTUGAL)
2 CICE / ISCAP Polytechnic of Porto & CRACS / INESC TEC (PORTUGAL)
About this paper:
Conference name: 10th International Technology, Education and Development Conference
Dates: 7-9 March, 2016
Location: Valencia, Spain
Abstract:This paper describes a European project that involves a consortium of 8 partners in the education field.
The eFinLit project aims and objectives are to identify and address specific needs of EU Citizens in financial literacy, use ICT tools and digital literacy to improve EU citizens’ competencies in financial issues, develop a partnership model of a wide range of expert organizations in the fields of training, online learning and literacies and address the challenges of financial management generated by the current economic transformations taking place in EU.
It also intends to promote innovative and student-centered pedagogical approaches. In order to attain this objective, eFinLit will use pedagogical approaches, such as the eLearning, online games, peer to peer support, and educational technology tools that are based on the self-interest and paste of the students. The project will also develop appropriate assessment and certification methods. Online certificates will be provided to the eFinLit students upon completion of each module, accredited by the HE and training institutions of the eFinLit consortium of partners. Finally the learning outcomes of eFinLit will immediately become visible in the everyday life of the young adults.
The expected results of this project are, first a state of the art and gap analysis concerning the financial literacy situation in each of the partner countries involved. Then, an online curriculum composed of 8 modules will be developed. These modules are: Digital Literacy and Access to Financial Information; Basic Math; Budgeting; Savings; Indebtedness; Credit and Loans; Consumer Rights and Investment and Entrepreneurship. The identification of these modules was done during the development of a previous project also about Financial Literacy called, FINLICO – Financial Literacy Competences for Adults (see http://www.financial-literacy.eu/index.php?id=29)-).
Two other expected results are the development of an eFinLit online platform and mobile application - the eFinLit backbone is based on ICT which include social networking tools, online games, data bases, and a training packages of online self-regulated modules, which will also be available through mobile platforms. Finally, the partnership will develop an adaptation toolkit.
This paper describes the results of the first stage of the project – state of the art and gap analysis -, as well as the presentation of the learning objects for the modules developed so far. There will also be a reflection about the whole development process and implications for the final result of the online curriculum.
Keywords: Project, education, financial literacy, competencies.