Critical thinking in financial education

Theme 3   Financial Literacy.
Theme 5   Miscellaneous.

Secondary school seachers.
Researchers and academics.

Critical thinking is a central element of financial education, but there are important differences in how critical thinking is understood. In the perspective of financial literacy education, critical thinking is important to examine financial products such as loans and accounts, to assess the balance between income and expenditures and in other ways to understand and manage personal funds in a reflected manner. In other approaches, however, financial education is part of citizenship education. Consequently, critical inquiries are not restricted to personal management of money but encompass the institutions which frame individual financial choices. This may enable people to act as citizens with the ability to initiate changes to these institutions.

The purpose of this presentation is to examine different ways in which critical thinking can be defined and practiced in financial education. I introduce a new typology that shows four conceptualizations of critical thinking in financial education. One important point here is that critical thinking should not only be examined within the classic dualism of consumer and citizen but also with regard to hybrid positions. Furthermore, the presentation illuminates how these different conceptualizations of critical thinking in financial education may affect educational practices. The presentation draws on cases from financial education in Danish primary school.

Presented by: Lennart Ravn Heerwagen (1, 1)

Lecture (20 min)

Downloadable files: 41_5688_Lecture LR Heerwagen.pdf

Back to previous page