Project Description

FLin€VET is a partnership project and aims to advance the development of a sustained and shared framework of Financial Literacy and its core components in the context of European Vocational Education and Training (VET). To address this aim, the project brings together a group of partners with different missions and expertise in VET practice and research (e.g., Universities, VET Providers, Teachers and Teacher Trainers, Associations dealing with VET and labour market) from different countries (Switzerland, Germany, Austria, Italy, Portugal, United Kingdom), and provides ample opportunities for explicating, communicating and possibly integrating the diverse voices of the Financial Literacy debate, shaping and fine-tuning them at the same time in order to cope with the specific requirements of VET.

 

The objectives of FLin€VET are the following:


(a) To analyse and compare if and how Financial Literacy is represented and realized in existing national VET Programs of participating countries.


(b) To offer an arena for discussing the adequacy of existing Financial Literacy conceptions with respect to prevalent needs and wants in European VET.


(c) To promote higher awareness, reflexivity, and critical knowledge of Financial Literacy in European VET and to point out critical issues that should be addressed in a future wider project (e.g., DOI or TOI).


FLin€VET addresses the subject of how to conceptualize Financial Literacy in European VET by an approach that strategically combines partnership meetings with collaborations in local workgroups. Planned activities are as follows:

 

1) Partners will conduct an analysis of pertinent national documents (e.g., definitions of Financial Literacy, VET standards, curricula and school books or related materials). This analysis will include VET programs within selected sectors that are characterized by different degrees of affinity towards financial issues (e.g., programs for bank employees with certainly a rather high degree vs. programs for car mechanics with a supposedly lower degree). Concerning materials, we will encompass the spectrum of possible backgrounds by incorporating officially approved materials (e.g., standard text books) as well as such materials that stem from private sources (e.g., banks, consumer protectors). However, selection criteria will be discussed during the first partnership meeting. To guide the document analysis process, a tool will be developed and made available to all participants.


2) The results of document analysis will be used (a) to present national conceptions of Financial Literacy, (b) to discuss their strengths and weaknesses, and (c) to draft a common framework for Financial Literacy in the context of VET. Scientifically based guidelines for framework development will be provided. In order to include various viewpoints, the evolving framework will then be validated with a small number of national key actors in VET (e.g., VET school teachers, company trainers, apprentices) and in the Financial Literacy debate (e.g., consumer protectors, financial service providers, etc.) by using a questionnaire and rating scheme. In a final conference, the Financial Literacy framework will be moreover presented to a wider audience and be discussed with representatives of all relevant actors.