A New Approach to Financial Literacy Education through an Introductory Business Course

Author

Megan Klein, Western Michigan UniversityFollow

Date of Defense

4-21-2023

Date of Graduation

4-2023

Department

Accountancy

First Advisor

Bret Wagner

Second Advisor

Todd DeWit Mora

Third Advisor

Decker Hains

Abstract

This study discusses the overall definition of financial literacy, dissects the shortcomings of financial education, and identifies key factors that influence financial awareness of young adults. The survey is conducted through the use of classroom-based survey on a population of collegeage students at Western Michigan University in Kalamazoo, Michigan. As a result, we found that although significant improvement was not present between the pre and post-course surveys, the student’s perception of their personal knowledge and confidence in applying the topics tested significantly improved throughout the course of the semester. In conclusion, we believe that further research should be examined into the effects of consistent exposure to financial literacy education and how it impacts the student’s ability to understand, retain, and practice key financial skills in their daily lives.

Recommended Citation

Klein, Megan, "A New Approach to Financial Literacy Education through an Introductory Business Course" (2023). Honors Theses. 3776.
https://scholarworks.wmich.edu/honors_theses/3776

Access Setting

Honors Thesis-Open Access