98 – Financial education on secondary school students: the randomized experiment revisited


We analyze the effects of financial education on a large sample of secondary school students with a randomized experiment performed in the Center (Rome) and North (Milan and Genova) of Italy.
Our main findings document that the course increases significantly financial literacy at both student and class level but the effect is different in different urban environments.

More specifically, wedocument that the overall (questionnaire plus course) learning effect is significantly higher in the North than in Rome.

We finally observe that high grades at final middle school exams, willingness to attend Economics at University and household borrowing status are three factors which significantly and positively affect financial education.

Keywords: financial education, financial literacy, demand for money balances, randomized experiment.