Cross-Sectional Analysis of Economics Curriculum Impact on Student Financial Literacy

Thesis Abstract

The increasing recognition of financial literacy as a vital competency for effective economic participation underscores the importance of examining how educational curricula influence student financial knowledge and behavior, particularly within secondary and tertiary education settings. Despite numerous curriculum reforms aimed at improving financial literacy, disparities in students' financial knowledge persist across regions, suggesting a need for systematic evaluation of how different economics curricula impact learners’ financial literacy levels. This study aims to conduct a cross-sectional analysis to determine the effect of varied economics curricula on student financial literacy among university students, with specific objectives to compare financial literacy scores across institutions with diverse curriculum frameworks, identify curricular components most strongly associated with financial literacy, and assess students’ perceptions of the relevance of their economics education to real-life financial decisions. Constructed on a quantitative research paradigm, the study adopts a descriptive comparative research design to facilitate the analysis of differences and associations among variables across multiple institutions. The population comprises undergraduate students enrolled in economics-related programs across five universities with distinctive curricula, totaling approximately 4,000 eligible students. A stratified random sampling technique will select a sample of 600 students, ensuring proportional representation of year of study, gender, and institution. Data will be collected through structured questionnaires consisting of standardized financial literacy assessment instruments adapted from the OECD/INFE toolkit, along with a curriculum evaluation checklist developed in alignment with existing curriculum frameworks to capture core curricular content and pedagogical approaches. The validity of the research instruments will be established through expert reviews, pilot testing, and internal consistency measures such as Cronbach’s alpha, targeting a reliability coefficient of at least 0.70. Data analysis will employ descriptive statistics to profile the sample and summarize financial literacy scores, followed by inferential statistical techniques including ANOVA to compare mean literacy scores across curricula and multiple regression analysis to determine the strength and significance of curriculum components on students’ financial literacy levels. Additionally, thematic analysis of open-ended responses will explore students’ perceptions of curriculum relevance and adequacy concerning real-world financial decision-making. It is anticipated that the findings will reveal significant variations in financial literacy levels attributable to differences in curriculum content, pedagogical methods, and emphasis on practical financial skills. Specifically, students exposed to curricula integrating experiential learning, case studies, and current financial issues are expected to demonstrate higher financial literacy scores. The study’s contribution to knowledge lies in providing empirical evidence quantifying the impact of curriculum design on financial literacy, thereby informing policymakers and curriculum developers on effective educational strategies. It will also expand understanding of the relationship between educational content and students’ financial behaviors, aligning with the theoretical underpinnings of Human Capital Theory and the Financial Literacy Framework. The main conclusion is expected to underscore the critical role of curriculum content and instructional approaches in enhancing financial literacy among university students. Accordingly, recommendations will advocate for the integration of practical financial education components into economics curricula, the adoption of innovative pedagogical techniques, and the standardization of financial literacy assessment across institutions. The study will further suggest avenues for longitudinal and qualitative research to explore causality and students’ lived experiences relating to financial education, thereby contributing to the development of more effective and contextually relevant financial literacy programs within higher education.