The National Bank of Ukraine, in partnership with Junior Achievement Ukraine, conducted the first-ever study of the level of competence in Entrepreneurship and Financial Literacy among 10th-grade scholars.
As part of the study, teenagers were asked to complete 21 case studies based on the example of the Program for International Student Assessment (PISA) in financial literacy. The children also answered 20 questions in a questionnaire to analyze the factors influencing their results in more depth.
The average number of correct answers to the case studies among adolescents was 46.6% = 3 points out of a 12-point rating system, which indicates an initial level of financial literacy among Ukrainian adolescents. The best results were shown by students from Dnipropetrovska (57.4%), Ivano-Frankivska (53.7%), and Kyiv (50.4%) regions. The lowest results were recorded in Kirovohrad (37.4%), Mykolaiv (39.7%), and Chernivtsi (41.4%) regions.
Girls have better results (47.4%) than boys (45.6%). Urban and rural schoolchildren’s scores are 48% and 40%, respectively.
The low level of financial literacy is especially typical for adolescents from families with low socioeconomic status. No pupils gave 100% correct answers.
Interesting results were obtained regarding adolescents’ attitudes toward financial literacy: 77.6% of teens surveyed believe schools should introduce a financial literacy subject.
