Mathematics in Education, Research and Applications (MERAA), 2017(3), 2
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Published online 2018-01-10
DOI:https://doi.org/10.15414/meraa.2017.03.02.73-78
The ability to apply numerical concepts in financial tasks
Janka Drábeková, Norbert Kecskés, Barbora Dídová
Article Fulltext (PDF), pp. 73–78
- Person's capability to manage financial issues has become important in today's world. Mathematical knowledge is a part of consumer
and financial literacy. According the OECD study, there is a high correlation between financial literacy and mathematics. The aim of the paper is
to examine the impact of gender, level of education and age on the ability to use mathematical tools to solve financial tasks in a sample of population.
The examined sample consisted of 350 inhabitants of the Galanta region in the Slovak Republic. We distributed a questionnaire which consisted of 6 multiple
choice questions (financial tasks focused on ability to calculate the value added tax and gross income, to use the exchange rate list, to compare the offers
of insurance companies, to calculate simple interest). We found statistically significant differences in the answers of respondents according to their gender,
level of education and also age. Respondents of both genders were most successful in calculation of the value added tax and in use of simple interest.
- Keywords: numerical skills, financial literacy, association, Slovakia
- JEL Classification: K40, M303