A PILOT COURSE FOR IMPROVING FINANCIAL LITERACY IN COLLEGE STUDENTS

Question Title

* 1. College Level Courses v HS Difference:

HS: mainly tasks

HS: practical applications

College: mostly similar to HS

All of the above

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* 2. Different Ways to Teach the Concept of Opportunity Cost:

OC is mainly an accounting concept

The principle is core to economics and finance

Not relevant as a practical concept

None of the above

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* 3. Time Value of Money: Discounting/Compounding

Too complex to teach to college students

Useful to only business majors

An IQ test

None of the above

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* 4. Interest Rates:

Critical to separate nominal from real terms

Use of mathematics is useful

Key question in financial literacy questionnaires

All of the above

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* 5. Effect of Inflation on Interest Rate:

Requires understanding of opportunity cost

Requires understanding of TVM

Is always and everywhere a monetary phenomenon

All of the above

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* 6. Marginal Thinking or Optimal Decisions at the Margin:

Only for managerial decisions

Not practical

Difficult to explain to college students without calculus

None of the above

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* 7. Risk and Diversification:

Useful only if one has a retirement account

Knowledge of these concepts is highly correlated with age

Requires a Robinhood account to make the concept practical

None of the above

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* 8. Modern Finance: Options

Useful only for finance majors

Not relevant to financial literacy

A or B is correct

None of the above

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* 9. Modern Finance: Reverse Mortgage

Cannot be explained via first principles

Not relevant to financial literacy

A or B is correct

None of the above

A PILOT COURSE FOR IMPROVING FINANCIAL LITERACY IN COLLEGE STUDENTS

Question Title

* 1. College Level Courses v HS Difference:

Question Title

* 2. Different Ways to Teach the Concept of Opportunity Cost:

Question Title

* 3. Time Value of Money: Discounting/Compounding

Question Title

* 4. Interest Rates:

Question Title

* 5. Effect of Inflation on Interest Rate:

Question Title

* 6. Marginal Thinking or Optimal Decisions at the Margin:

Question Title

* 7. Risk and Diversification:

Question Title

* 8. Modern Finance: Options

Question Title

* 9. Modern Finance: Reverse Mortgage

Question Title

* 10. Please enter your full name.