Why are we doing what we and many other social education initiatives are doing? Are we successful or is it only done to fulfill corporate responsibility? Is there a measure of success? How do we determine our goals? How do we convince our investors? Are statistics meaningful or are there other ways of determining the outcomes of social education projects. The discussion will focus on the long and short term success factors and on who defines success in such projects.
Prof. Lukas Menkhoff's keynote will present a financial education project and its measurability for school authorities in Uganda.
Active learning improves financial education: Evidence from rural Uganda
We study the effectiveness of two financial education interventions offered to small-scale retailers in Western Uganda. The treatments contrast interactive learning vs. direct instruction approaches within standardized lesson-plans. We find that financial education has some positive impact on financial knowledge. Financial behavior is also impacted, however, only by the interactive training. Intended effects are strongest regarding savings among five groups of financial behavior.
- Lukas Menkhoff, Head of the Department of International Economics at DIW Berlin and Professor of Economics at the Humboldt-University of Berlin
- Carmela Aprea, Professor of Business and Economics Education at Friedrich Schiller University Jena
- Werner Binnenstein-Bachstein, Director Community Arts Lab at Porticus Vienna
- Sue Lewis, Chair of Financial Services Consumer Panel and Member of FLiP Advisory Board