Best practises of Financial Education in Italian schools:

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1 Best practises of Financial Education in Italian schools:

2 Main characteristics: Recent initiatives (from 2004 on); Programs in few schools with teachers voluntary committment With no/little impact valuation Different experiences (education level, participation, goals, economic issues, organizational schemes, costs);

3 Active Institution for students financial education Bank of Italy Consumer association (Adiconsum) Patti chiari (a consortium created by Italian Bankers Association (ABI) and more than 100 banks) Some public institutions (Municipality, Region) Some non profit organization

4 The analysed variables What kind of initiative (a pilot initiative or a well known program); Goal of the initiative (to give a general financial education, to improve certain skills, to inform on product characteristics, to strengthen committment towars good financial behaviour) Target (direct, indirect: Students, teachers, students families); Some data (in how many cities, schools, classes, how many students, which level and specialization of schools, how many external experts) Organizational schemes (who gave lessons to whom; how many lessons, what kind of lessons, during which hours; team working methods? Incentives? How it worked; organization step by step; Initiative's valuation) Issues discussed during lessons (general financial education, education on specific issues: overindebtment, usury, business management); Problems and opportunities

5 Bank of Italy What kind of initiative: a pilot initiative: 3 schools in each of 3 cities 3 primary schools, 3 secondary schools of 1st level; 3 secondary schools of 2nd level (of any specialization). Goal of the initiative is to have financial education as a part of learning programs into many schools of different level and specialization.target (direct: teachers, indirect: Students) Some data (in 3 cities, 9 schools,? classes (the whole class); for secondarly school of second level, any specialization) Organizational schemes (Banks s of Italy trained those teacher, for hours, who joint the program on voluntary basis and who gave then lessons to students during schooltime; teching methos were different from each teacher; No incentives for teachers or for students? Initiative's valuation using questionnaieres, teaching kit and web documentation, meetings) Issues discussed during lessons (Money and payment instruments, as it is a pilot program); Problems and opportunities (--- The initiative worked as there was a voluntary committment from teachers; it is necessary to find incentives also for less motivated teachers' in order to increase the number of classes and of students educated; ;+++ High teachers' committment; deep teachers training on financial education; team work among teachers and bank of Italy staff)

6 Adiconsum + Palermo Municipality What kind of initiative (a pilot initiative); Goal of the initiative (knowledge on financial behaviour (mainly on saving and indebtment) in order to prevent families' overindebtness and usury) Target (direct: students, indirect: students families); Some data (3 cities, 6 schools, 180 students (30 for each school, only some students from each class), secondary school of secondary level, any specialization); Organizational schemes (12 hours of lessons/seminars held in schools by external experts after schooltime: 3 days campus (for all 200 students) with seminars on the issue of overindebtment, usury and legal behaviour; 3 days meeting in Rome (for only 2 students for each group) with sponsors representatives; team working methods; competition among students projects; prizes for the best projects; no initiative's valuation) Issues discussed during lessons Credit; Credit instruments (current account, credit cards, consumer credit, house mortgages, guarantees), Access to credit, Overindebtness; Usury, legal behaviour, economic behavoiur (savings, monthly budget) Problems and opportunities (--- It has quite high costs, The initative is dependent on the enthusiastic commitment of a public officer inside Palermo municipality; +++The project is devoted only to highly motivated and interested students; it stimulates students' ideas and creativity in order to manage certain financial problems and situations; it highly appreciate students participation

7 PattiChiari con l Economia What kind of initiative (a semi-pilot initiative: it starterd in 2007); Goal of the initiative (The wide goal of this initiative is to help students for their futures choices for work or for university. The project is focused on teaching economic behaviour and the economic system, where relevant actors are: companies and banks, but also customers, consumers and workers. ). Target (direct: Students); Some data (27 cities, 800 schools, 2000 classes, students of secondary school of second level, mainly administrative or commercial school; 17 banks and 200 banks experts) Organizational schemes (13 lessons: during school time. final output: a business plan for a project with certain characteristics. Lessons by school teachers whose training is by dedicated webpages or toll free number. local banks experts for Business plan; a prize to encourage student s commitment with a first selection al city level and a final one at national level. Team work; Issues discussed during lessons (Globalisation, CSR Financial system and products; economic behaviour (family budget planning, savings, pension schemes, business plan for enterprises); Companies management; Problems and opportunities (--- project feasible mainly for some techincal schools (mainly administrative schools) ; +++ Strong link among school, local community and working system (banks); team work;competition and incentives tostrengthen student's commitment)

8 PattiChiari Io & l Economia What kind of initiative (a well known initiative: it started in 2004) Goal of the initiative: to teach students how to manage their own money and to give them some information and skills in order to make their professional choices (for whose who will enter working world in a few years) Target (direct: Students) Some data (from 2004 up to now: 42 cities, 525 schools, classes, students of secondary school, first level; 2-3 class). Organizational schemes (external experts gave lessons (5-9) to the whole class during schooltime (ust seminars without working team) or there was a visit to the local bank with explanation of its activity and products; no incentives? An external company managed part of administrative work with school and Initiative's valuation) Issues discussed during lessons (Information on main payment instruments and on how enter the working world (how to write a CV, how to choose one's working area)); Problems and opportunities: (---The main problem it is the voluntary participation which depend on the teacher's sensibility to these issues; +++ Esternal experts' lessons and visits into banks)