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Financial Literacy in Germany

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International Handbook of Financial Literacy

Abstract

Over the past few years financial literacy has gained increasing public attention in Germany. Because of the various political approaches regarding education in Germany’s 16 federal states, the regulatory conditions are complex and confusing. Schools are insufficiently supplied with classroom materials and lack professionally educated teachers for economics. Several empirical studies of varying quality suggest that the degree of financial literacy in Germany is rather low. Yet still missing is a widely recognized measuring instrument for diagnostic use at schools. Even large-scale assessments like the OECD PISA-study do not fit the bill. The integration of financial literacy into the framework of traditional German education aims is difficult. There is much debate by experts of economics and financial education didactics about the direction of financial education in German schools. It is becoming apparent that financial literacy focuses too much on personal finance and consumer protection issues. But true “financial Bildung” should also incorporate the supply-side perspective and a broader regulatory understanding. The reasons for this mismatch are diverse and indicate the need for further arguments and developments in German schools, politics, research and society.

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Authors and Affiliations

  1. Chair of Economics and Economic Education, Campus Essen, University of Duisburg-Essen, Universitätsstraße 12, 45141, Essen, Germany

    Felix Frühauf & Thomas Retzmann

Authors
  1. Felix Frühauf
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  2. Thomas Retzmann
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Correspondence to Felix Frühauf .

Editor information

Editors and Affiliations

  1. Friedrich Schiller University Jena , Jena, Germany

    Carmela Aprea

  2. Goethe Universität Frankfurt, Frankfurt, Germany

    Eveline Wuttke

  3. Johannes Gutenberg Unversity Mainz, Mainz, Germany

    Klaus Breuer

  4. National Institute of Education Nanyang Technological University, Singapore, Singapore

    Noi Keng Koh

  5. University of Birmingham, Birmingham, United Kingdom

    Peter Davies

  6. Vienna University of Economics and Business, Vienna, Wien, Austria

    Bettina Greimel-Fuhrmann

  7. California State University, East Bay, Long Beach, California, USA

    Jane S. Lopus

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© 2016 Springer Science+Business Media Singapore

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Frühauf, F., Retzmann, T. (2016). Financial Literacy in Germany. In: Aprea, C., et al. International Handbook of Financial Literacy. Springer, Singapore. https://doi.org/10.1007/978-981-10-0360-8_17

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  • DOI: https://doi.org/10.1007/978-981-10-0360-8_17

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  • Publisher Name: Springer, Singapore

  • Print ISBN: 978-981-10-0358-5

  • Online ISBN: 978-981-10-0360-8

  • eBook Packages: Social SciencesSocial Sciences (R0)

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