High school curriculum and financial outcomes
Subtitle: the impact of mandated personal finance and mathematics courses
By: Shawn Cole, Anna Paulson, Gauri Kartini Shastry
Contributors: Paulson, Anna, author; Shastry, Gauri Kartini, author; Harvard Business School
Series: Working paper / Harvard Business School -- 13-064; Working paper (Harvard Business School) -- 13-064.
Publisher: Harvard Business School
Published: 2014
Place of publication: Boston]
Language: eng
Number of pages: 48
Work titles: High school and financial outcomes
Description: Financial literacy and cognitive capabilities are convincingly linked to the quality of financial decision-making. Yet, there is little evidence that education intended to improve financial decision-making is successful. Using plausibly exogenous variation in exposure to state-mandated personal finance and mathematics high school courses, affecting millions of students, this paper answers the question "Can good financial behavior be taught in high school?" It can, though not via traditional personal finance courses, which we find have no effect on financial outcomes. Instead, we find additional mathematics training leads to greater financial market participation, investment income, and better credit management, including fewer foreclosures.
Notes: "January 2013. (Revised April 2014.)"--Publisher's Web site.

Revision of High school and financial outcomes.

Includes bibliographical references (pages 36-40).