The Dutch, English, Japanese, New Zealand, Northern Ireland, Scottish and South African frameworks provide specific links between the financial education learning outcomes and the learning outcomes in specific curricular subjects. This also applies to the implementation plan envisaged by the Dutch framework. Links are not included in the Australian and JumpStart frameworks because they operate within a federal education system where curricular links need to be made at the state and local level.
The following subjects are recommended as suitable vehicles for integration of financial education (in order of frequency):
- • living skills; personal and social development; personal, social, health and economic education; citizenship; environment and society; moral education; social and vocational skills;
- • mathematics and numeracy;
- • national language programmes; literacy; modern languages;
- • science; environmental studies;
- • economics; business management; accounting;
- • social and consumer studies;
- • geography;
- • the Arts;
- • design and technology; information communications technology (ICT); craft and design;
- • religious education;
- • modern studies.
The Australian and New Zealand framework make explicit links to over-arching curriculum achievement objectives such as the development of key competencies and values and recommends financial literacy as a theme that schools could use for crosscurricular teaching and learning.
The Scottish and English frameworks also refer to the relevance of financial education to meeting over-arching curriculum objectives. For example, the English framework cites the three statutory aims of the secondary curriculum and states that financial education contributes to all three aims, as follows:
- • successful learners who enjoy learning, make progress and achieve;
- • confident individuals who are able to live safe, healthy and fulfilling lives;
- • responsible citizens who make a positive contribution to society.
Effective pedagogy (see also “Resources and pedagogic materials” in Chapter 2)
The Jump$tart framework does not include guidance about effective pedagogy. The other frameworks provide varying levels of guidance, from very limited guidance to extensive guidance that includes case studies of teaching practices and detailed lesson plans.
The recommended approaches to effective pedagogy include:
- • opportunity to engage with “real-world” financial contexts;
- • inquiry-based learning;
- • critical engagement and discussion;
- • problem-solving approaches involving student research and projects;
- • cross-curricular approaches;
- • activity-based approaches, including use of role-play and simulation.
The Japanese, New Zealand, English and Northern Ireland frameworks include case studies of teaching practices that demonstrate effective pedagogy. The Malaysian framework refers to sample lesson plans. The New Zealand and English frameworks provides guidance about the importance of creating a supportive learning environment in which students’ cultural backgrounds and values are recognised.
The Malaysian framework refers to the ways Bank Negara Malaysia’s financial education programme is being provided during the co-curriculum activities. The framework is also applicable for programmes designed for children with disabilities including those with learning disabilities.
The Scottish and the Dutch frameworks refer to opportunities provided by extracurricular and community-based activities as contexts for developing financial literacy. The New Zealand, Malaysian and Dutch frameworks note the importance of involving families and communities in financial education programmes, as demonstrated by the text from the New Zealand framework below:
“Developing financial capability provides an authentic learning context to promote effective links between schools and other cultural contexts in which students grow up. There is opportunity for many productive partnerships to be formed with the community, including parents, whanau2, agencies such as banks, budgeting advisers, and churches within the community.”
Two school case studies are also provided to demonstrate these productive partnerships.