Aflatoun: Social & Financial Education · Aflatoun: Social & Financial Education Daniel Shephard...
Transcript of Aflatoun: Social & Financial Education · Aflatoun: Social & Financial Education Daniel Shephard...
Aflatoun:
Social & Financial Education
Daniel Shephard
Conferência de Educação Financeira e Comportamento do Investidor
Rio de Janeiro, 5 Dec. 2014
Social & Financial Education: The Need
Life-skills are an important part of education linking school to work and
social life (cf. UNESCO 2012; ILO 2012; UNICEF 2013)
• possession of certain socio-economic skills are crucial for the
employability of youth (Di Gropello et al. 2011)
• Savings in youth accounts can also be associated with reduced
depression and sexual risk-taking alongside higher self-esteem
and educational outcomes (Han et al. 2013)
Children’s education should develop each child’s personality, talents
and abilities to the fullest. It should encourage children to respect
others, human rights and their own and other cultures. It should also
help them learn to live peacefully, protect the environment and
respect other people. (UNCRC, Article 29)
Self-efficacy is an important predictor of academic and employment
success (Moller et al. 2009; Multon, Brown & Lent 1991; Pinquart et
al. 2003)
Social & Financial Education: The Need
24% 24% 34% 33% 0%
5%
10%
15%
20%
25%
30%
35%
40%
Savings Loans
Youth (15-24) Financial Outcomes
Brazil World
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World Bank. Global Findex. Demirguc-Kunt and Klapper, 2012
Aflatoun Social and Financial Education
Our mission is to inspire children and youth to socially and
economically empower themselves and become agents of change
for a better, more equitable world.
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Social & Financial Education
Personal understanding & exploration
Rights & responsibilities
Savings & spending
Planning & budgeting
Social & financial
enterprise/
projects
Aflatoun Social and Financial Education
Attitudes Social Awareness Skills Activities/Practice
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Personal understanding & exploration
Rights & responsibilities
Saving & spending
Planning & budgeting
Social & Financial
Enterprise
Social & Financial Empowerment
Aflatoun
Outreach & Outcomes
Aflatoun Around the World: 109 Countries, 150+ partners
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Aflatoun Children & Youth: 2,362,500
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207.855 217.609
532.693 595.530
975.634
1.353.000
2.039.461
2.362.500
-
500.000
1.000.000
1.500.000
2.000.000
2.500.000
3.000.000
2006 2007 2008 2009 2010 2011 2012 2013
Overview of Global Evidence on Financial Education
Systematic review
Search uncovered
1330 potential
Records
Exclusions were
Completed by two
Authors separately
15 included records
Contained 21 RCTs
Summary of Included Studies
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A total of 21 unique studies were found:
• Types of studies: Randomised Control Trials
(RCTs)and Clustered RCTs.
• Types of programme: A broad range of financial
education programmes, content and mode of delivery.
• Population: Children and youth from all over the
world, predominantly Africa and the US.
O’Prey L and Shephard D (2014) Financial Education for Children and
Youth: A Systematic Review and Meta-analysis.
RCT Evidence of Financial Education for Children & Youth
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O’Prey L and Shephard D (2014) Financial Education for Children and
Youth: A Systematic Review and Meta-analysis.
Results: Meta-analysis: Knowledge (K = 11; N > 37,000)
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Combining the results of eleven studies together, we find a
positive effect on financial knowledge.
SMD [95% CI] = 0.18 [0.07, 0.29]
O’Prey L and Shephard D (2014) Financial Education for Children and Youth: A Systematic Review
and Meta-analysis.(Version 1D)
Results: Meta-analysis: Attitudes (K = 9; N > 26,000)
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Overall, the results suggest mixed and uncertain changes
in financial attitudes amongst children and youth attending
financial education programmes.
SMD [95% CI] = 0.09 [-0.05, 0.24]
Results: Meta-analysis: Behaviours (K = 6; N > 26,000)
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We find robust and modest behaviour change amongst
children and youth attending financial education
programmes.
SMD [95% CI] = 0.08 [0.03, 0.12]
Effect Sizes Compared
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O’Prey L and Shephard D (2014) Financial Education for Children and Youth: A Systematic Review
and Meta-analysis.
0,18 0,18 0,08 0,16 0
0,02
0,04
0,06
0,08
0,1
0,12
0,14
0,16
0,18
0,2
Hattie 2009 FinancialKnowledge
FinancialBehavior (all)
Aflatoun FinancialBehavior
Education Programmed Instruction Effect Sizes
Aflatoun Research on Effectiveness
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GREEN = Randomised Controlled Trials (with qualitative data collection)
BLUE = Other Completed Research
ORANGE = Ongoing Research
Outcomes: Social and Financial Education (Children)
Indicator Frequency (n) Endline Outcome
Savings Behavior 8 68%
Self-Confidence 8 60%
Rights Orientation 5 99%
Educational Attitudes 4 53%
Program Enjoyment 4 79%
Savings Attitude 4 91%
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Mallory, D. 2013. Aflatoun Curriculum in Practice: A Summative Progress Report. Accessed at
www.aflatoun.org/evaluation
Outcomes: Social and Financial Education (Youth)
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88%
7% 5%
Proportion of outcomes by impact (n = 123)
Positive
Neutral
Negative
Outcomes: Social and Financial Education (Youth)
18
5
20
8
10
12
7
12
19
19
23
13
9
5
1
1
1
1
1
2
General education
Rights and responsibilities
Planning and budgeting
Saving and spending
Personal understanding and…
Social and financial enterprise
0% 50% 100%
Distribution of outcomes by topic area as change outcomes vs. pre- or post-only outcomes
Pre- or post-only outcomes Positive change outcomes
Neutral change outcomes Negative change outcomes
RCT: Social & Financial Education and child protection
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0
0,02
0,04
0,06
0,08
0,1
0,12
0,14
0,16
0,18
Savings Behavior Child Labour
Control Financial Only Social & Financial
Not. Sig.
P < 0.05
P < 0.01
N = 5363, average age 12
Berry, Karlan & Pradhan. 2014. The Impact of Financial Education
for Youth in Ghana.
P < 0.1
RCT: Aflateen+SRHR for young women (preliminary)
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N = 1208, average age 16
15
25
35
45
55
65
Savings Attitudes Future Plans Agency
Control
Aflateen
P < 0.001
P < 0.001
P < 0.001
RCT: Results of Aflatoun Teacher Training (preliminary)
Innovation: Observation of Teacher’s Pedagogy after receiving training via TTI
staff. (Funding: DFID Innovations for Education Funding)
Preliminary results (after half a year): 50 schools, 250 teachers, 1750 students
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0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Child CentredTeaching
StdEngagement
Std Fin. Lit.Confidence
Std SavingsBehaviour
Control
Aflatoun
Children & Youth Voices
“I came to realize, as an outgoing person, where I need to improve,
maintain and be more careful after this training. In addition, I also
recognized that I'm actually in want of action. Thought in mind
would have no influence if without action. The real change in life
comes from the thought combined with action.” (China)
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Thank you!
share ideas and questions with us
Daniel Shephard
Research & Curriculum Manager
Skype: daniel.aflatoun
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