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Financial Education in Schools Brazil

Financial Education in Schools Brazil. José Alexandre Cavalcanti Vasco Head, Education and Investor Assistance Department Comissão de Valores Mobiliários – CVM (Securities and Exchange Commission of Brazil). National Strategy for Financial Education. 2. Financial Education in Schools.

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Financial Education in Schools Brazil

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  1. Financial Education in SchoolsBrazil José Alexandre Cavalcanti Vasco Head, Education and Investor Assistance Department Comissão de ValoresMobiliários – CVM (Securities and Exchange Commission of Brazil)

  2. National Strategy for Financial Education 2

  3. Financial Education in Schools 3 • Coordinated by the Brazilian SEC • Dec 07: contact made with the Ministry of Education • Apr 08: Partnership with Ministry of Education fully established ; presentation of the plan for schools (BM&Fbovespa and WG) • May 08: Creation of the Educational Support Group : Financial Sector, Ministry of Education, Municipal and State Departments of Education. Training in Financial Markets for educators and representatives from Departments of Education (States and municipalities) • Sept 08: Seminar at the Central Bank (Brasília) – draft. • Oct 08: FE guidelines for schools approved • Jun 09: Launch of second phase: pilot project (Secondary Education > program “Mais Educação”) • Jun 09 - Feb 10: books + pedagogical project for schools

  4. Financial Education in Schools 4 2 DIMENSIONS

  5. global 5 SpaceDimension Time Dimension Future Social Level Present Individual Level Past

  6. 6 2 7 GOALS

  7. Space-related Goals Time-related Goals 7 • Responsible Consumption and Saving • Knowledge and tools for independent decision-making • Social awareness • Short-, mid- and long-term planning and decision-making • Prevention • Enable social mobility

  8. 8 2 7 10 SKILLS

  9. Skills Web S01 S10 S02 Rights and responsabilities awareness Time-related Space-related Social- and environmental -friendly financial decision making Overcoming financial difficulties S09 S03 Balancing financial wishes and needs Assessing prevention plans S08 S04 Understanding financial education texts Financial planning S07 S05 Critical attitude towards publicity Multiplying financial education knowledge and behaviour Independent decision making based on financial needs S06

  10. 10 2 7 10 140 ACTIONS

  11. Contents 12

  12. INDIVIDUAL LEVEL 13 Consumption Saving Budget Planning Labour & Income

  13. SupplyandDemand Inflation SOCIAL LEVEL Interest Rate Markets Unemployment Financial System Institutions

  14. SupplyandDemand Inflation INDIVIDUAL LEVEL Consumption Saving SOCIAL LEVEL Interest Rate Markets Budget Planning Labour & Income Unemployment Financial System Institutions

  15. freedelivery no interest discount Real-lifecontents

  16. Formal contents

  17. Real-lifeand formal contents

  18. Teaching material 20 Student’s book  72 Learning Opportunities: formal and real-life contents + activities + self-assessment questions Teacher’s book  a copy of the student’s book + teaching guidelines + further formal contents

  19. Metadata – Teacher’s book

  20. 35 ImplementationandEvaluation • “MaisEducação” Programme schools Regular selected state schools  Evaluation System • Regular selected state schools • Public Schools supported by InstitutoUnibanco (a non for profit organization)

  21. Impact Evaluation(World Bank and Brazilian specialists) Y Before After B B’ Impact A A Change t0 t1 Intervention

  22. ImplementationandEvaluation Public schools supported by Instituto Unibanco Impact Evalution (World Bank) Ministry of Education Programs: “Mais Educação” “Ensino Médio Inovador” 100 schools 800 – 1200 schools To be defined 5 States 4 States 19 States (tbd) Trainers Teachers Volunteers Interns Trainers Teachers Trainers Teachers

  23. Implementation April-May 2010 Professores Geradores (Teachers) 1 por escola Multiplicadores (Trainers) 1 for 10 schools 8-hour training 16-hour training 20-hour distance-learning training 20-hour distance-learning training Jun-Nov 2010 Coaching on line Coaching on line

  24. Evaluation Dimensions: Short-term and long-term: Knowledge and Competencies (skills) Attitude (Behavior) Long-term impact: Attitude (Behavior) Exams (Item Response Theory) Questionnaire Follow up CPF

  25. 40 • Thank you! • Comissão de Valores Mobiliários (CVM) • The Brazilian Securities and Exchange Commission • Contact: vasco@cvm.gov.br • National Strategy: www.vidaedinheiro.gov.br • CVM’s website: www.cvm.gov.br • Investor’s website: www.portaldoinvestidor.gov.br

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