An Educational Construct of the First Great Financial Crisis of the Third Millennium
5 Pages Posted: 24 Oct 2008 Last revised: 21 Sep 2009
Date Written: October 21, 2008
The intellectual fall-out from the financial crisis has resulted in renewed debates on a wide range of issues from financial regulation to the future of capitalism. As these discussions gather momentum, there is yet another dimension that requires closer examination. This paper cites financial illiteracy as a significant causal factor in the sub-prime debacle and argues that for market economies to function efficiently the consumer must be equipped with the skills to make optimum decisions about complex financial products.
Keywords: credit crunch, curriculum, economic education, financial literacy, financial crisis, personal finance
JEL Classification: A21, D14, I21
Suggested Citation: Suggested Citation