Assessment of students achievement
The English and Japanese frameworks provide specific guidance about assessment of student achievement. The English framework includes recommendations for day-to-day and periodic assessment in relation to the financial literacy outcomes and gathering evidence about the quality and effectiveness of the financial literacy programme across the school. The Japanese framework provides methods for assessing student achievement and case studies of effective teaching practice in the teaching resources also provide examples of ways to assess student achievement.
The Dutch framework illustrates how questions relating to financial education already come up in a number of established national tests (such as maths) and envisages for the future the importance of devising an appropriate evaluation programme in collaboration with the National Institute for Educational Measurement. In South Africa, assessment is conducted through the general procedures of the Ministry of Education, as stipulated on the Curriculum Assessment Policy Statements (2011).
None of the frameworks includes information about whether student achievement in financial education is assessed as part of national examinations.
The introduction of the Financial Literacy Option in the OECD Programme for International Students Assessment (PISA) in 2012 has also allowed the development of an assessment framework that can serve as a benchmark for policy makers and educational authorities worldwide (OECD, 2013) (see also “Evaluation of Financial Education Programmes”, Chapter 2).