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: 6

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

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