Factors Affecting Economic Literacy

Year 2018, Volume: 7 Issue: 1, 7 - 47, 30.06.2018

Serkan Dilek , Hayrettin Kesgingöz , Ali Konak , Suha Halıcıoğlu

https://doi.org/10.33722/afes.475575

Cited By: 5

Abstract

It is generally
accepted that economic literacy facilitates rational decision making and
provides more accurate economic decisions. In this case, improving literacy in
the economy will lead to an increase in economic efficiency and the welfare of
both individuals and society. The aim of the economy is, in fact, to maximize
the welfare of society and to provide economic efficiency. Therefore, it is
possible to achieve economic objectives by increasing economic literacy. The
objective of this search is to reveal the factors affecting economic literacy,
and thus, investigate the ways of increasing economic efficiency. To reach this
aim, a questionnaire was conducted to 481 people in Kastamonu and Tosya,
Turkey. According to the results of the questionnaire, we found a statistically
significant positive correlation between economic education and the interest in
economics with economic literacy. However, we did not find any significant
correlation between the belief in the usefulness of economic knowledge and economic
literacy. Surprisingly, a statistically significant correlation between
economic literacy and economic wealth could not be found.

Keywords

Economic Literacy, Education of Economics, Affecting, Economy

References

• Akhan, N.E. (2013). Economy literacy step by step: the alternative ways for the social studies lessons. Adıyaman University Journal of Social Sciences Institute, 6(14), 1-36.
• Bayar, Y.; Sezgin, H.F; Öztürk, Ö.F. and Şaşmaz, M. (2017). Impact of Financial Literacy On Personal Savings: A Research On Usak University Staff. Journal of Knowledge Management Economics and Information Technology, VII(6), December. 1-19.
• Burke, M. A. and Manz, M. (2011). Economic Literacy and Inflation Expectations: Evıdence From A Laboratory Experiment. Public Policy Discussion Papers, Federal Reserve Bank of Boston, No:11-8.
• Chen, H. and Volpe, R. P. (1998). An Analysis Of Personal Financial Literacy Among College Students. Financial Services Review, 7(2), 107-128.
• Çömlekçi, İ. (2017). İslami Finansal Okuryazarlık Düzeyinin Belirlenmesi. Katılım Bankaları Müşterileri Üzerine Bir Araştırma. Elektronik Sosyal Bilimler Dergisi, 16(63), 1423-1439
• Dilek, S.; Küçük, O. and Eleren, A. (2016). Kastamonu Üniversitesi Öğrencilerinin Ekonomi Okuryazarlığı. İnsan ve Toplum Bilimleri Araştırmaları Dergisi. 5(7), 1865-1878.
• Dutkowsky, D.H., Evensky, J. M. and Edmonds, G. S. (2008). Improving Economic Literacy: The Role of Concurrent Enrollment Programs, http://ssrn.com/abstract=476146
• Engelbrecht, L. (2008). Economic Literacy and The War on Poverty: A Social Work Challenge?. Int J Soc Welfare, 17, 166-173
• Gerek, S. and Kurt, A.A, (2011). Ekonomi Okuryazarlığı Ölçeğinin Geçerlik ve Güvenirlik Çalışması. Uludağ Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 30(1), 59-73.
• Gerek, S. and Kurt, A.A. (2008). Economic Literacy of University Students: A Sample from Anadolu University, Available at SSRN: https://ssrn.com/abstract=1137610
• Gleason, J. and Scyoc, L.J. v. (1995). A Report On The Economic Literacy of Adults. The Journal of Economic Education, 26(3), 203-210
• Gratton-L., C. and Gill, A. (2009). A Study of High School Economic Literacy in Orange County California. Eastern Economic Journal, 35, 433-451.
• Grimes, P. W.; Meghan, J. M. and Thomas, K. (2010). Testing The Economic Literacy of K-12 Teachers: A State Wide Baseline Analysis. American Secondary Education. 38(3). 4-20
• Gümüş, N.; Kandemir, O. and Benli, T. (2017). Kastamonu Üniversitesinde Eğitim Gören Türk Dünyası Öğrencilerinin Girişimcilik Eğilimlerinin Belirlenmesi Üzerine Bir Araştırma. International Journal of Eurasia Social Studies, 8(29), 1091-1110
• Hansen, W.L; Salemi, M.K. and Siegfried, J. (2002). Use it or Lose it: Teaching Literacy in The Economics Principles Course. American Economic Review, 92(2). 463-472
• Japelli, T. (2010). Economic Literacy: An International Comparison. The Economic Journal, 120, F429-F451
• Kahya, C. and İmamoğlu, İ.K (2015). Ekonomi okuryazarlığının girişimcilik niyeti üzerindeki rolü. The Journal of Academic Social Science Studies, 39, 139-156.
• Koshal, R.; Gupta, A. K., Goyal, A. and Chodhary, V.M. (2008). Assesing Economic Literacy of Indıan MBA Students. American Journal of Business, 23(2). 43-52.
• Küçük, O. (2016). Bilimsel Araştırma Yöntemleri. Ekin Yayınları
• Lusardi, A.M and Mitchel, O. S. (2011). Financial literacy around the world: an overview. Journal of Pension Economics and Finance, 10(November), 497-508.
• Lusardi, A.M and Mitchel, O. S. (2010). How Ordinary Consumers Make Complex Economic Decisions: Financial Literacy and Retirement Readiness. CFS Working Paper 2010/11.
• Lusardi, A.M. and Tufano, P. (2009). Debt Literacy, Financial Experiences, and Overindebtedness. NBER Working Paper. no: 14808.
• Lusardi, A.M. and Mitchell, O.S. (2005). “Financial Literacy and Planning: Implications For Retirement Wellbeing”. Michigan Retirement Research Center. Working Paper: WP2005-108
• Merwe, E. V.D (2012). Economic Literacy As A Factor Affecting Allocative Efficiency. Master of Science In Agrıcultural Economics. University of The Free State Bloemfontein.
• Morgan, G. A., Leech, N. L, Gloeckner, G. W., and Barrett, K. C. (2004). SPSS for introductory statistics: Use and interpretation. Psychology Press.
• NCREL North Central Regional Educational Laboratory. (2006), 21st century skills: Economic literacy. Retrieved November 6, 2006 from http://www.ncrel.org/engauge/skills/econlit.htm
• Nelson, J. A. and Sheffrin, S. M. (1991). Economic Literacy or Economic Ideology. Journal of Economic Perspectives, 5(3), 157-165. Pallant, J. (2001). SPSS survival manual. Buckingham: Open University Press
• Parkison, K. and Sorgman, M. (1998). Enhancing Economic Literacy of Classroom Teachers. IAER, 4(4), 418-427
• Prete, A. L. (2013). Economic Literacy Inequality and Financial Development. Economic Letters, 118(1), 74-76
• Rivlin, A.M. (1999). On Economic Literacy. Economic Literacy Symposium. 13 May 1999
• Şantaş, F. and Demirgil, B. (2015). Ekonomi Okuryazarlığı Düzeyinin Tespitine İlişkin Bir Araştırma. Akademik Bakış Dergisi, 48, Mart-Nisan, 46-60.
• Schuhmann, P. W., Mcgoldrick, K. and Burrus, R. T (2005). Student Quantitative Literacy: Importance, Measurement and Correlation with Ecoonmic Literacy. The American Economist, 49(1), Spring, 49-65
• Talaş, E. and Çakmak, F. (2013). Türkiye’de Kadınların İşgücüne Katılımlarının Kohort Analizi, Ekonometri ve İstatistik, 18. 18-34
• Unal, S.; Düger, Yavuz S. and Söylemez, C. (2015). Ekonomi Okuryazarlığı ve Kredi Kartı Tutumunun Rasyonel Kredi Kartı Kullanımına Etkisi: Dumlupınar Üniversitesi Tavşanlı MYO Örneği. Eskişehir Osmangazi Üniversitesi İİBF Dergisi, Nisan, 10(1), 31-52.
• Walstad, W. B., Rebeck, K. and Butters, R. B (2013). The Test of Economic Literacy: Development and Results. The Journal of Economic Education, 44(3), 298-309.
• Walstad, W. B. and Soper, J. C. (1988). A Report Card On The Economic Literacy of U.S. High School Students. The American Economic Review, 78(2), 251-256
• Whitehead, D. J. and Halil, T. (1991). Economic Literacy In The United Kingdom and The United States: A Comparative Study. The Journal of Economic Education, 22(2), 101-110.
• Wood, W. C. and Doyle, J. M. (2002). Economic Literacy Among Corporate Employees. The Journal of Economic Education, 33(3), 195-205.
• Yayar, R. and Karaca, Ö. A. (2017). Economic Literacy Levels of Public Officers In Turkey. Pakistan Journal of Commerce and Social Sciences, 11(1), 49-65.
• Yıldırım, G. and Öztürk, C. (2017). Ekonomi Okuryazarlığı ve Eğitimine İlişkin alan Uzmanı ve Öğretmen Görüşlerinin Belirlenmesi. Erciyes Journal of Education, 1(2), 1-22.
• Yıldırım, C. and Bacanak, A.and Özsoy, S. (2012). Öğretmen Adaylarının Çevre Sorunlarına Karşı Duyarlılıkları. Kastamonu Eğitim Dergisi, 20(1), 121-134.