An Analysis and Case Study of Financial Literacy Courses in the High School Curriculum

Abstract

This thesis project investigates the impact, including potential benefits and drawbacks of the inclusion of a one-semester financial literacy course in the high school math curriculum. It includes, as a case study, a financial literacy course designed and taught by the author. Much of high school and college education is geared toward giving young people the knowledge and skills for life as an adult, including entering the workforce with adequate skills; providing for oneself and possibly a family; and planning for the future all the way to retirement. In high school, young people are exposed to a background in a variety of topics so they have the tools to make informed decisions and are prepared for issues they will encounter in life. Unfortunately, as this thesis will demonstrate, one area where the public educational system typically falls short of meeting this goal is helping students attain the financial knowledge necessary to make informed decisions. Students are required to take math courses through Algebra II and often study further math, but there is no overall national requirement about taking a financial literacy course. This thesis will show that most public schools do not currently require a financial literacy course in high school and it is not directly included in the Common Core State Standards. This study will consider explanations for financial literacy from organizations such as the General Accounting Office, and the National Educators Council, among others to determine a clear and concise definition. This study will examine the need for such a course by researching many of the issues consumers have to deal with today due to lack of knowledge of our financial system. This study will investigate what is already in place in terms of individual state requirements. In addition, a case study analysis will be done of the experiences related to such a course showing the potential benefits and costs. Finally, this thesis project will incorporate information gained through the continued development of such a financial analysis class by the researcher, along with the rest of the information presented in the thesis to provide recommendations as to inclusion of financial literacy courses in the high school curriculum.