1. Financial Education in Schools Brazil
José Alexandre Cavalcanti Vasco
Head, Education and Investor Assistance Department
Comissão de Valores Mobiliários – CVM
(Securities and Exchange Commission of Brazil)

2. National Strategy for Financial Education2
Chapter  
Section I
Introduction
Section II
Presentation of the main topics of interest (Economy/the Brazilian Financial System / Banks/ Financial Planning/Credit/Investments/ Social welfare/Insurance.)
Section III
3.1 – Financial Education (FE) in schools (Educational Support Group – GAP) > CVM
Adults Financial Literacy > Central Bank
Section IV
Governance > PREVIC
Section V
Conclusion
Annexes
FE in Schools – Guidelines
National Survey on FE – Report 
Inventory of FE projects in Brazil / International Experience
4 FE programs (the Central Bank, CVM, PREVIC and SUSEP)

3. Financial Education in Schools3
Coordinated by the Brazilian SEC
Dec 07: contact made with the Ministry of Education
Apr 08: Partnership with Ministry of Education fully established ; presentation of the plan for schools (BM&Fbovespa and WG)
May 08: Creation of the Educational Support Group : Financial Sector, Ministry of Education, Municipal and State Departments of Education. Training in Financial Markets for educators and representatives from Departments of Education (States and municipalities)
Sept 08: Seminar at the Central Bank (Brasília) – draft.
Oct 08: FE guidelines for schools approved
Jun 09: Launch of second phase: pilot project (Secondary Education > program “Mais Educação”)
Jun 09 - Feb 10: books + pedagogical project for schools

4. Financial Education in Schools
dimensions
goals
skills
actions 4 2
DIMENSIONS

5. Future Social Level Present Individual Level Past Space Dimension5
Time Dimension
global
national
regional
local
individual
Social Level
Future
Present
Individual Level
Past

6. dimensions
goals
skills
actions 6 2 7
GOALS

7. Space-related Goals Time-related Goals7
Space-related Goals
Responsible Consumption and Saving
Knowledge and tools for
independent decision-making
Social awareness
Time-related Goals
Short-, mid- and long-term planning and decision-making
Prevention
Enable social mobility

8. dimensions
goals
skills
actions 8 2 7 10
SKILLS

9. Skills Web Time-related Space-related
Rights and responsabilities awareness
S01
Social- and environmental -friendly financial decision making
S02
Balancing financial wishes and needs
S03
Understanding financial education texts
S04
Independent decision making based on financial needs
S06
Multiplying financial education knowledge and behaviour
S07
S05
Critical attitude
towards publicity
Financial planning
S08
Assessing
prevention plans
S09
Overcoming
financial difficulties
S10

10. dimensions
goals
skills
actions 10 2 7 10
140
ACTIONS

12. 12
Contents

13. INDIVIDUAL LEVEL 13
Consumption
Saving
Budget
Planning
Labour & Income

14. SOCIAL LEVEL Supply and Demand Interest Rate Inflation Unemployment
Markets
Financial System Institutions
SOCIAL LEVEL

15. SOCIAL LEVEL INDIVIDUAL LEVEL Supply and Demand Inflation
Consumption
Saving
SOCIAL LEVEL
Interest Rate
Markets
Budget
Planning
Labour & Income
Unemployment
Financial System Institutions

16. Programme SIGN UP questionnaire GROUP 1
Individual LEVEL
(short-term situations)
Previous knowledge
Topic 1 Daily family life
Topic 2 Personal goods
Topic 3 Social life
Planning a dream
GROUP 2
individual LEVEL
(mid- and long-term situations)
Previous knowledge
Topic 4 Labour
Topic 5 Entrepreneurship
Topic 6 Larger projects
Planning a dream
GROUP 3
SOCIAL LEVEL
Previous knowledge
Topic 7 Public assets
Topic 8 National economy
Topic 9 World economy
Planning a dream
Programme SIGN OUT questionnaire

17. free delivery
no interest
discount
Real-life contents

18. Formal contents

19. Real-life and formal contents

20. 20
Teaching material
Student’s book  72 Learning Opportunities: formal and real-life contents + activities + self-assessment questions
Teacher’s book  a copy of the student’s book + teaching guidelines + further formal contents

34. Metadata – Teacher’s book
Formal name
Personal expenses
Informal name
Write it down so you won’t forget it
Related topic
Daily family life
Formal Contents
Expenses
Personal and family budget
Financial planning
Skills S6 S7 S8
Actions
Register and monitor personal expenses
Estimate the cost of things
Description
This activity addresses the need of keeping records of what is purchased and how much is spent on a daily basis to allow greater control over one’s financial life. Students may already be undertaking some kind of register but possibly in an intuitive, inaccurate way and now they will learn to do it systematically.
Self- assessment questions
What have I learned?
( ) to write down my expenses on a daily basis
( ) to find out exactly how much I spend each month
( ) to estimate the cost of things I usually spend my money on
Metadata – Teacher’s book

35. Implementation and Evaluation35
Implementation and Evaluation
“Mais Educação” Programme schools
Regular selected state schools  Evaluation System
Regular selected state schools
Public Schools supported by Instituto Unibanco (a non for profit organization)

36. Impact Evaluation (World Bank and Brazilian specialists)Y
Before
After B B’
Impact A A
Change t0 t1
Intervention

37. Implementation and Evaluation
Public schools
supported by
Instituto Unibanco
Ministry of Education
Programs:
“Mais Educação”
“Ensino Médio Inovador”
Impact Evalution
(World Bank)
100 schools
800 – 1200 schools
To be defined
5 States
19 States (tbd)
4 States
Trainers
Teachers
Volunteers
Interns
Trainers
Teachers
Trainers
Teachers

38. Implementation April-May 2010 Professores Geradores (Teachers)
1 por escola
Multiplicadores (Trainers)
1 for 10 schools
8-hour training
16-hour training
20-hour distance-learning training
20-hour distance-learning training
Jun-Nov 2010
Coaching on line
Coaching on line

39. (Item Response Theory)
Evaluation
Dimensions:
Short-term and long-term:
Knowledge and Competencies (skills)
Attitude (Behavior)
Long-term impact:
Exams
(Item Response Theory)
Questionnaire
Follow up
CPF

40. Thank you! Comissão de Valores Mobiliários (CVM)40
Thank you!
Comissão de Valores Mobiliários (CVM)
The Brazilian Securities and Exchange Commission
Contact:
National Strategy:
CVM’s website:
Investor’s website: