International Week of Financial Literacy at ASU

In middle October 2015, the International Week of Financial Literacy has passed at Astrakhan State University.

This event has been arranged by the Center of Financial Literacy launched at our Department of World Economy & Management. Phil Schuman, the Director of Financial Literacy for Indiana University (USA), has been the distinguished guest at the event. Besides him, the range of experts has included Alexander Koshkarov (Director of ASU’s Center of Financial Literacy) and reps of large Russian banks.

The following issues have been under consideration: personal financial planning, investments, insurance, taxes, struggle with financial swindling, bank services, and young entrepreneurs’ financial literacy. Our future economists, linguists, lawyers, geologists, geographers, and sociologists have learnt much about foreign experience of financial management and got useful advice. Those who asked the experts especially interesting questions or gave especially remarkable comments have received books in financial management and planning.

Development of entrepreneurial skills has been one of the key goals of this event. The audience could watch the presentation “Financial Literacy for Young Entrepreneurs” based on Russian and foreign experience. There was also a contest of business plans for the best center of financial literacy. The team of our two economical Departments (Dept. of Business & Economy and Dept. of World Economy & Management) has won the contest, as well as the team of our Dept. of Social Communications. The Center of Financial Literacy of ASU shall consider their ideas to apply them in its further activities.

Surveys were arranged during all the stage of the event: each participant was to fill in a questionnaire before and after each meeting. The surveys have revealed that the overall level of our students’ financial literacy has increased by 53.5 %, and their awareness of financial swindlers has grown up by 45.8 %.

The participants of the International Week of Financial Literacy at Astrakhan State University have highly appreciated the importance and relevance of such events.

Russian original information and photo source: the Center of Financial Literacy of ASU