Conference: Introduction of financial education at school

2018-07-11

Today the Organization for Economic Cooperation and Development (OECD) and the Central Bank of Armenia have organized a conference on the introduction of financial education at schools and among young people. Lusine Arakelyan, RA Deputy Minister of Education and Science, was present at the conference.

During the event, speakers discussed the importance of financial education among pupils and young people. Particularly, according to the OECD survey, pupils should receive financial education as early as possible. Moreover, the organization presented comparative data on financial literacy in several countries (Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan and the Russian Federation).

Gohar Mamikonyan, Adviser to the RA Minister of Education and Science, presented the mechanisms of the introduction of financial education in RA schools, taking into account the general principles of its implementation. According to her since 2015 Ministry of Education and Science and the Central Bank of Armenia cooperating with the National Institute of Education, Armenian Representation of Savings Banks Foundation for International Cooperation, “Junior Achievements of Armenia” non-governmental organization have developed a document entitled “Matrix of Financial Competency of Learners”, which establishes minimum financial knowledge, skills, attitudes and behavior necessary for learners, taking into account their educational level. Gohar Mamikonyan mentioned, that the component of financial education is integrated in the curriculum of such subject as “Me and the Surrounding World (2nd to 4th grades), “Mathematics” (2nd to 6th grades), “Sociology” (8th to 11th grades), “Algebra” (7th to 11th grades). She noted, that taking into account subject standards, programs, and teacher training modules, in 2017 46 teachers from 14 schools were trained, who, during the academic year 2017-2018, tested the content of financial education including it in the subject. Final corrections will be made in the documents based on the program testing results. From September 2018 the program is to be introduced in 350 schools of RA provinces, training more than 3000 teachers.

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