AN ITALIAN PROJECT OF FINANCIAL EDUCATION FOR MIGRANTS
1Università degli studi di Urbino Carlo Bo, Italia; 2Università Politecnica delle Marche
After introducing the multiform phenomenon of financial inclusion/exclusion and offering a brief overview on migrants living and working in Italy, this paper presents and discusses an experience of financial education of migrants – “FIN-Financial inclusion” project – financed by the AMIF National Italian fund 2014-2020 and recently carried out in Italy. The multidisciplinary approach chosen for the realization of the project defined the objectives, the target groups and the educational initiatives, which are described and commented by the authors. While the newly arrived migrants have been addressed by courses aimed to develop their language skills – thanks also to the development of a specific manual, “Financial literacy course for non-Italian-speaking students Level I” – permanent immigrants have been following a second level financial course aimed at introducing them to financial products and services. In this second group a special attention was paid to the category of foreign women. The financial training experiences carried out as part of the FIN project, together with the other experiences - in Italy and in Europe - analyzed, have provided very useful indications for identifying the most suitable tools and strategies to allow the financial inclusion of the most vulnerable groups as migrants. Considerations about teaching activities and a discussion of problems encountered during the project develop into a series of conclusive guidelines to better implement the process of financial education and inclusion and to eliminate the barriers that prevent the financial inclusion of migrants.
ECONOMIC AND FINANCIAL EDUCATION IN THE PERSPECTIVE OF LIFELONG LEARNING
1Università Roma Tre, Italia; 2Università del Molise, Italia
Thanks to many experts and scholars in the economic, financial, sociological, pedagogical, and political fields, sensitivity and attention to economic and financial literacy and skills have greatly increased, especially in recent years. Nevertheless, the results from international (OECD, UNESCO, World Bank) and national (Bank of Italy, MEF, MUR, FEDUF, ONEF) surveys still confirm many critical issues in Italy, in skills both of children and of adults. Although the trend is towards an improvement, it is still little. In Italy, the debate, also at the political and institutional level, was lively and aimed at sharing the heterogeneous experiences achieved to try proposing coordinated initiatives. In addition to difficulties in finding organic and comprehensive information, we face with complexity deriving from multidisciplinary and interdisciplinary approaches, as the pedagogical/educational perspective is overshadowed or it is not while promoting only technical disciplinary skills.
UNESCO 2030 strategy and 2018 EU Council Recommendation on key competences for lifelong learning focused on also mathematical and entrepreneurial skills, indispensable for making decisions and acting in every life contexts.
Recently in Italy, many economic and financial education projects had activated, especially in upper secondary schools, but also in lower secondary and primary schools and in adult education too. The participation of associations and banks made a significant contribution, but still these are heterogeneous and non-systemic projects.
What are the reasons why financial education struggles to produce satisfactory results in Italy? What are the prospects for establishing, even in our country, a culture for global and inclusive citizenship, based also on economic and financial education, in a lifelong learning way?
In this paper we aim to start from the analysis of the literature and documentation available, nationally and internationally, and from a field survey, to provide an understanding key based on mainly critical-hermeneutical and heuristic research methods.
From such analysis, we try to suggest pedagogical proposals towards curricular and interdisciplinary economic and financial education both in school cycles and in adult education, for human development, individual and social well-being, in a lifelong learning perspective.
Atkinson, A., Messy, F. (2012). Measuring Financial Literacy: Results of the OECD/International Network on Financial Education (INFE) Pilot Study. OECD Working Papers on Finance, Insurance and Private Pensions, No. 15, OECD.
EU Council Recommendation (2018). On key competences for lifelong learning.
MIUR (2017). Progetto EduFinCPIA “…verso un Piano nazionale per l’Educazione Finanziaria degli adulti”. Linee guida.
OECD (2005). Improving Financial Literacy: Analysis of Issues and Policies. Paris: OECD.
OECD (2019). PISA 2018. Assessment and Analytical Framework. Paris: OECD.
ONU (2015). Trasformare il nostro mondo: l’Agenda 2030 per lo Sviluppo Sostenibile.
Refrigeri, L. (2017). Per una strategia nazionale di educazione economica e finanziaria in Italia. SIE 2017 – Economic Education And Teaching Economics – JEL A2.
Refrigeri, L., Rinaldi, E.E., Moiso, V. (2020). Scenari ed esperienze di educazione finanziaria. Risultati dell’indagine nazionale ONEF e riflessioni multidisciplinari. Lecce: Pensa.
Refrigeri, L. (2020). L’educazione finanziaria. Il far di conto del XXI secolo. Lecce: Pensa.
Rinaldi, E. (2007). Giovani e denaro. Percorsi di socializzazione economica. Milano: Unicopli.
ECONOMIC AND FINANCIAL PLANNING IN SCHOOLS: REFLECTIONS AND PRACTICAL PROPOSALS
Università Cattolica del Sacro Cuore, Italia
The Italian position on financial literacy was critical even before the Covid-19 emergency. The Pisa 2018 report (OECD-2020) indicated a high risk of 'financial illiteracy', showing how, among the G20 countries, Italy was in the second last place for financial skills. The latest Consob reports show as 80% of Italian citizens are unable to choose effective financial products matching their needs. The debate on intervention methods and their effectiveness is still ongoing and today, in particular, an effort to design and adapt actions to the current situation is required. It is important to remember that "quality education", "decent work and economic growth" are among the 17 Sustainable Development Goals of the United Nations General Assembly for the 2030 Agenda.
In order to achieve these goals, it is also necessary to address economic and financial education interventions as early as to children and adolescents, since they are able to make economic decisions related to the goods available at their disposal and that helps them to become skilled citizens, active and aware agents as adults (Valle et al, 2020).
To nowadays, in the Italian context, there is no curriculum dedicated to the development of economic and financial competences, but recently economic and financial issues have been included in the school Civic Education curriculum. This opens up the chance of projecting specific good practices: incorporating the study of economics into the curricula would enable teachers to systematically approach the subject and children to perceive and experience its relevance, as well as to understand the link between economic knowledge and other school subject areas. A useful modality is the so called "Learning Units", defined as interdisciplinary didactic pathways related to a specific topic that, through several methodologies, involve children and favor the acquisition and consolidation of notions.
In the current scenario, the present paper seeks to use the Learning Units projecting as a methodology to include financial and educational intervention from a multi-disciplinary point of view (Marchetti et al., 2020). This methodology also favors the distance learning activated during the Covid-19 lockdowns allows the use of digital platforms where it is possible to create content tailored to the users and which can be transformed into webinars or public events, including recreational ones.
Marchetti, A., Rinaldi, T., Rivelli, M., & Valle, A. (a cura di) (2020). Educazione finanziaria: Io la insegno! Proposte e strumenti per educare i bambini alla cittadinanza economica responsabile e consapevole, pag 37-48, Edizioni d’Este, Firenze. ISBN 978-88-98726-86-8
OECD (2020), PISA 2018 Results (Volume IV): Are Students Smart about Money?, PISA, OECD Publishing, Paris, https://doi.org/10.1787/48ebd1ba-en.
Valle, A., Rinaldi, T., Lombardi, E., Massaro, D., Marchetti, A. Lo sviluppo delle competenze sociali e l'educazione economica e finanziaria: spunti di riflessione per nuovi programmi di intervento. In Refrigeri, L., Rinaldi, E.E., Moiso, V. (a cura di) (2020). Scenari ed esperienze di educazione finanziaria. Risultati dell’indagine nazionale ONEEF e riflessioni multidisciplinari, Pensa Multimedia, Lecce, pag. 61-80. ISBN: 978-88-6760-742-6
ENTREPRENEURSHIP EDUCATION AND VALUE CREATION
Free University of Bozen-Bolzano, Italia
The recent health crisis of Covid19 highlights the need to question the current economic development model and underlines the urgency of reconnecting economic systems with the sustainability paradigm (Asvis, 2020). In this framework, it becomes important to reflect on the construct of entrepreneurship and entrepreneurship education.
Developing entrepreneurship competence, understood as “the capacity to act upon opportunities and ideas, and to transform them into values for others” (Council of the European Union, 2018,p. 11), means in fact forming citizens capable of acting actively and consciously in building their own future (Costa & Morselli, 2019) and able to support a sustainable and responsible economy (Lindner, 2018).
However, research on the development of entrepreneurship competence referred to the Italian context and in particular to the school context is still scarce. The present study, within an ecosystem research perspective, therefore, intends to map and describe the phenomenon of entrepreneurship education in order to understand how this competence is developed in schools, what form it takes in the curriculum, school planning and teaching practice, and what relationships are created with the local context, with its opportunities and/or criticalities. The context chosen for this investigation is the one of the Province of Trento, which can become a 'case study' because of its specific features, such as its autonomy (including scholastic autonomy) and its vocation for the development of the form of cooperative enterprise.
The analysis follows a mixed-methods-multilevel survey approach. Referring to this research strategy, it was decided to combine different survey approaches and different tools, in particular, semi-structured interviews (with students, teachers, headteachers, other stakeholders) and documentary analysis (school curricula and school projects), in order to address the phenomenon of entrepreneurship education as a process of value creation from different perspectives.
The first data collected revealed:
- the difficulties of the school system in introducing the term entrepreneurship in the school curricula and in the teacher's educational planning;
- in entrepreneurship education projects involving schools there is a 'broad' interpretation of entrepreneurship, seen as a transversal competence;
- many schools adopt experiences of school cooperation and solidarity projects.
These initial data will be complemented with the testimonies of stakeholders involved in entrepreneurship education and with interviews with representatives of the school system (headteachers, teachers and students) to draw the conditions in which, through synergistic school-territory interactions, the development of entrepreneurship competence as a process of value creation for the community is promoted.
ASviS (2020). L’Italia e gli obiettivi di sviluppo sostenibile – Rapporto ASviS 2020. https://asvis.it/rapporto-asvis-2020/.
Costa, M., & Morselli, D. (2019). An enterprising capability for the development of agency in adults: Results from a European Erasmus Plus project. Pedagogia Oggi, 17(2), 168-183.
Council of the European Union (2018). Council recommendation of 22 May 2018 on key competences for lifelong learning (text with EEA relevance). Official Journal of the European Union, 2018/C 189/01, 1–13.
Lindner, J. (2018). Entrepreneurship Education for a Sustainable Future. Discourse and Communication for Sustainable Education, 9(1), 115–127.
FINANCIAL LITERACY AND POWERFUL KNOWLEDGE: TEACHERS' PERSPECTIVES
University of Malta, Malta
The notion of ‘powerful knowledge’ was developed by Young (2008) to re-establish the importance of knowledge in teaching and curriculum development. Powerful knowledge is defined by Young as coherent, conceptual disciplinary knowledge that, when learned, empowers students to make decisions and become action-competent in a way that will influence their lives in a positive way. He argues for the entitlement of every pupil to have access to knowledge that is ‘better, more reliable and nearer to the truth about the world we live in and to what it is to be human’ (ibid., p.107). By employing this construct, this presentation explores what constitutes powerful knowledge in financial literacy and the implications for teaching.
This paper arises out of my PhD research study aimed at exploring teaching and learning in secondary school economics in Malta. The underlying conceptual framework for this study is critical realism, which offers an understanding of the world that is real but which may be differently experienced and interpreted by different observers (Bhaskar, 1979; Fletcher, 2017). The research method consisted in interviewing and observing fourteen economics teachers, together with four focus groups interviews with students. Data was analysed by employing thematic analysis (e.g. Braun and Clarke, 2006), with the help of Nvivo software. Financial literacy emerged as a theme in the teachers’ and students’ voices and in the lesson observations. This presentation focuses on the teachers’ voice discussing how economics education enabled students to grow more financially literate. This resonates with the literature that economics education assists students into developing financial and economic literacies (e.g. Brant, 2018; Chang, 2014). By employing the notion of powerful knowledge from the area of the sociology of education, this presentation assists the reflection relating to the teaching and learning of financial literacy and what constitutes powerful knowledge in this area.
Bhaskar, R. (1979). The possibility of naturalism. Brighton: Harvester Press.
Brant, J. (2018). Financial and economic education on the English curriculum and PSHE: New hope or another false dawn? Teaching Business and Economics, 2018, 22(1), 19-21.
Braun, V. and Clarke, V. (2006). Using thematic analysis in psychology. Qualitative Research in Psychology, 3(2), 77-101.
Chang, H. (2014). Economics: The users’ guide. London: Penguin.
Fletcher. A.J. (2017). Applying critical realism in qualitative research: Methodology meets method, International Journal of Social Research Methodology, 20(2), 181-194.
Young, M. (2008). Bringing Knowledge Back in: From Social Constructivism to Social Realism in the Sociology of Education. London: Routledge.
Financial literacy, economic literacy, powerful knowledge, economics education
FOR AN EFFECTIVE FINANCIAL EDUCATION OF YOUNG PEOPLE
1Università del Molise, Italia; 2Università Roma Tre, Italia
Faced with Italy's obvious difficulty in increasing levels of financial literacy, which remained at the same levels from 2012 to 2018 despite the numerous financial education initiatives that have been organized in Italy, the path designed by the Edufin Committee with the "Guidelines for the implementation of financial education programs for adults" and "Guidelines for the development of financial education skills in schools: First cycle schools Second cycle schools" issued in 2020.
If for adults the greatest difficulty in financial, economic, and social security education actions is the lack of a commonplace, for young people the school represents the ideal place; the Committee has decided to focus its attention on this with the aim of identifying the best way to include financial education in the school curriculum, recognizing that it must be considered an element of basic literacy.
The position of the Committee is to consider financial education as a cross-cutting issue to be included in the various disciplines with operational and in-depth methodologies, one of the issues of the new "Civic education".
In sharing that the topics included in financial education cannot be realized by treating them within a single discipline and by a specialized teacher but developed in interdisciplinary paths integrated and led by curricular teachers.
For this project all teachers must be trained and updated both in basic financial knowledge and in the most appropriate methodological knowledge: active teaching, laboratory methods, learning-centered on experience and problem solving, interactive teaching tools, etc.
Without teachers who are adequately literate in finance and on new teaching methods, there will never be a true financial education in the Italian School System.