The program will increase the financial
literacy of upper primary students in Hong Kong and provide insights for other
countries looking to develop financial education curriculum
CHICAGO, Nov. 20,
2024 /PRNewswire/ -- On November 20, the University
of Chicago Financial Education Initiative (UCFEI) launched
The Hong Kong Jockey Club Financial Education
Programme—a school-based financial education program for
upper primary students—initiated and funded by The Hong Kong Jockey
Club Charities Trust, in partnership with The Education
University of Hong Kong, the Hong Kong
Family Welfare Society, and CoCoon Foundation. UCFEI experts
developed two different curricula, teacher training, and resources
for the program that will be used in schools across Hong Kong starting this year. The learnings
from this pilot will provide critically needed insights that can be
used to develop financial education programs for young children in
other countries around the world.
Financial education at the primary level provides a foundation
that students need to understand the financial system and how to
navigate it, but few high-quality, rigorously tested programs
exist. Research suggests that the earlier financial literacy is
introduced, the more likely individuals are to avoid debt, make
informed financial choices, and build wealth over time. By age
seven, children have developed many core values and habits around
money based on what they see at home with their families. Through
The Hong Kong Jockey Club Financial Education Programme,
UCFEI experts will have the opportunity to pilot high-quality
curricula that introduce key financial skills at the right point in
young children's brain development, maximizing their learning
potential.
"I believe this program has the potential to not only benefit
students and families in Hong
Kong, but those across the world as well," said Rebecca Maxcy, director of UCFEI and principal
investigator of the project. "Today's students are growing up in
financially challenging times. There's a global need for stronger
financial education and one way to achieve that is by starting
early."
The Hong Kong Jockey Club Financial Education
Programme takes a holistic approach that engages students,
teachers, and parents. The comprehensive curricula, created by
UCFEI, utilize a variety of pedagogical routines including
scenarios, simulations, and role plays to ensure high-quality
implementation. Student learning is reinforced by engaging them in
classroom discourse and reflection on their own financial
experiences. The curricula are also educative for teachers,
deepening both their content and pedagogical knowledge. Parents
will also receive expert advice and practical strategies to model
sound financial habits for their children. The program is expected
to benefit about 17,800 students and train 240 teachers from 70
primary schools. Additionally, 1,500 parents will also be engaged
through parent-child workshops and talks.
"The University of Chicago is
dedicated to providing life-changing educational opportunities, and
this initiative to develop a financial education program in
Hong Kong does exactly that. We
are particularly honored to be partnering with The Hong Kong Jockey
Club Charities Trust, which has a long history of engagement with
the University of Chicago through its
generous support of The Hong Kong Jockey Club University of Chicago Academic Complex | The
University of Chicago Francis and
Rose Yuen Campus in Hong Kong," said Ka
Yee C. Lee, Interim Dean of the Division of the Physical
Sciences, Senior Advisor to the Provost for Global Initiatives, and
the David Lee Shillinglaw Distinguished Service Professor in the
Department of Chemistry at the University of
Chicago.
About UChicago Financial Education
Initiative
UCFEI was launched in July
2016 to develop the tools, resources, and capacity to spread
robust financial education. The Initiative draws upon the group's
expertise in learning science, curriculum design, digital tool
development, assessment, and programming, as well as their
experience with schools, students, and families.
About the University of
Chicago
The University of
Chicago is a leading academic and research institution that
has driven new ways of thinking since its founding in 1890. As an
intellectual destination, the University draws scholars and
students from around the world to its campuses and centers around
the globe including the research center in Beijing, China and the campus in Hong Kong. The University provides a
distinctive educational experience and research environment,
empowering individuals to challenge conventional thinking and
pursue field-defining research that produces new understanding and
breakthroughs with global impact.
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SOURCE University of Chicago -
UChicago Financial Education Initiative
