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National Report AUSTRIA results p resentation Kathrin Uedl. 2 nd Meeting | Zweibrücken | May 2013. CONTENTS School System in Austria Defining „Financial Education“ Status Quo Facts & Figures I, II Results of Gap Analysis Literature. SCHOOL SYSTEM IN AUSTRIA.
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National Report AUSTRIA resultspresentation Kathrin Uedl 2nd Meeting | Zweibrücken | May 2013
CONTENTS • School System in Austria • Defining „Financial Education“ • Status Quo • Facts & Figures I, II • Results of Gap Analysis • Literature
DEFINING „FINANCIAL EDUCATION“ • Financial awarness • Financial education (G8, 2006) • Financial capability (OECD, 2005) • Financial citizenship… • Oneconsistentobjective:„Strengthen the population‘sfinancialcompetences.“ • Topics cover: • Managing money | planingahead | makingchoices/choosingproducts | gettinghelped/stayinginformed
STATUS QUO „FINANCIAL EDUCATION“ • Financial illiteracybecameobvious in theaftermathofthefinancialcrisis • Understanding offunctioningandrisksoffinancialmarketsislow • Initiatives launched to enchancefinancialcompetencesamongpupils • by private and public organisations • 2 relevant ministries: • Ministry for Education, Arts and Culture • Ministry for Work, SocialIssues and Consumer Protection • Problems identified – forschools: • Sustainabilityof initiatives • Time to search for newmaterials • Time to deal withnewmaterialsabout a newtopic • Teacher‘strainingwithintheiracademiccareer
FACTS & FIGURES FE IN AUSTRIA I • Results publishedby the Austrian Insurance Agency (VVO): • Only 8 out of 200 pupils (14-20 years) and 51 out of 301 grown-ups (21+ years) areaware of the financialproducts‘ risks. (2012) • Only 6 % of the pupilsaskedwereable to calculate an interest rate and consider the capitalreturnstaxaswell. (2012)
RESULTS OF GAP ANALYSIS • Curriculum ofgeneralsecondaryschools • 1 subject Geography and Economic Education • „PLACE“ forfinancialtopicswithincurriculum • higher grades (9-12 15 to 18 years) • insurancetopics • assetmanagementtopics • risks of financialproducts … • STATUS: Lessintegration of financialeducation • withinsubjectsandcross-curricular • nocompletematerialsavailable (e.g. in schoolbooks) • teachersare not well enoughtrained
LITERATURE • http://www.vvo.at/financial-education-der-osterreichische-versicherungsverband-vvo-100- • sekunden-fur-ihre-finanz.html • http://www.konsumentenfragen.at/konsumentenfragen2/Fuer_die_Schule/Aktuelles/Versic • herungsverband_Qesterreich_macht_Finanzbildung • https://www.wissensfabrik-oesterreich.at/portal/load/fid509955/2012-04- • 10_Medieninfo_Finanzbildung_Wissensfabrik.pdf • http://finanzbildung.bmask.gv.at/bmsk/index.html • http://www.parlament.gv.at/PAKT/VHG/XXIV/AB/AB_10612/fnameorig_251314.html • http://www.sparkasse.at/salzburg/Presse/Presseinfos- • 2013/Initiative_fuer_mehr_Finanzbildung_in_Oesterreich • http://www.oenb.at/de/ueber_die_oenb/wirtschaft/initiative_finanzwissen.jsp • http://www.wirtschaftsmuseum.at/pdf/Banken_2011.pdf • http://www.ifs.at/fileadmin/user_upload/Dokumente/Schulden/Jahresbericht_2007_HPVersion.pdf • https://www.finanzportal.at • http://www.schuldner-hilfe.at/cms/index.php?menuid=12 • www.fitfuersgeld.at/