Economics in primary schools: an empirical experiment from Hungary

Abstract

The paper highlights the importance and relevance of introducing economic studies to primary schools. The research aimed to investigate the appropriate age, environment, type, and composition of presentation for introducing combined economic knowledge. The 190 students participating in the research were students from three primary schools in Hungary from 10 classes. Given the fact that in the case of all of the significant results, a sufficient effect size could be measured, and furthermore, the relevant test value was very high, it is unambiguously proven that the size of the sample (n = 190) that was used for the examination was sufficient. The results suggest that teaching economic and financial knowledge through accounting and making lectures interactive using special tools of positive education is critical to stimulating children’s interest. Eighty percent of the students in the study liked the combined and interactive lecture. Another goal was to investigate whether those that liked the presentation would perform better on the related knowledge test, which proved to be the case. In the two target groups, students in grade 6 outperformed students in grade 3 on the test. An investigation of gender performance is also included in the research. Findings suggest that the respective education may appropriately be developed based on the close relationship between mathematics and accounting. The lectures can be adapted according to any national or international accounting standards (IFRS, etc.) and can be taught in an online classroom as well. The lectures aim to develop children’s independent problem-solving skills so they can adapt the information to their own lives and financial situations. The paper fills a gap in the research by describing a successful attempt to complex economic literacy.JEL Classification codeA29, M21, M41