1. www.fh-joanneum.at MANAGEMENT National Report AUSTRIA results presentation Kathrin Uedl 2 nd Meeting | Zweibrücken | May 2013

2. www.fh-joanneum.at MANAGEMENT CONTENTS  School System in Austria  Defining „Financial Education“  Status Quo  Facts & Figures I, II  Results of Gap Analysis  Literature

3. www.fh-joanneum.at MANAGEMENT SCHOOL SYSTEM IN AUSTRIA MIN AGE GRADE University University of Applied Sciences Academy 14-19 Vocational Education Schools (commercial, technical, arts) with general qualification for university entrance 9-13 14-18 Secondary School II (= General School) Vocational Education Schools (commercial, technical, arts) without general qualification for university entrance Professional School (traineeship) 9-12 14/15Polytechnic School9 10-14 Secondary School I (= General School) Secondary Modern School & Comprehensive School (new) 5-8 6-10Elementary School1-4 3-5Nursery School

4. www.fh-joanneum.at MANAGEMENT DEFINING „FINANCIAL EDUCATION“  Financial awarness  Financial education (G8, 2006)  Financial capability (OECD, 2005)  Financial citizenship …  One consistent objective: „Strengthen the population‘s financial competences.“  Topics cover:  Managing money | planing ahead | making choices/choosing products | getting helped/staying informed

5. www.fh-joanneum.at MANAGEMENT STATUS QUO „FINANCIAL EDUCATION“  Financial illiteracy became obvious in the aftermath of the financial crisis  Understanding of functioning and risks of financial markets is low  Initiatives launched to enchance financial competences among pupils  by private and public organisations  2 relevant ministries:  Ministry for Education, Arts and Culture  Ministry for Work, Social Issues and Consumer Protection  Problems identified – for schools:  Sustainability of initiatives  Time to search for new materials  Time to deal with new materials about a new topic  Teacher‘s training within their academic career

6. www.fh-joanneum.at MANAGEMENT FACTS & FIGURES FE IN AUSTRIA I  Results published by the AUSTRIAN INSURANCE AGENCY (VVO):  Only 8 out of 200 pupils (14-20 years) and 51 out of 301 grown-ups (21+ years) are aware of the financial products‘ risks. (2012)  Only 6 % of the pupils asked were able to calculate an interest rate and consider the capital returns tax as well. (2012)

7. www.fh-joanneum.at MANAGEMENT FACTS & FIGURES FE IN AUSTRIA II

8. www.fh-joanneum.at MANAGEMENT RESULTS OF GAP ANALYSIS  Curriculum of general secondary schools  1 subject  Geography and Economic Education  „PLACE“ for financial topics within curriculum  higher grades (9-12  15 to 18 years)  insurance topics  asset management topics  risks of financial products …  STATUS: Less integration of financial education  within subjects and cross-curricular  no complete materials available (e.g. in schoolbooks)  teachers are not well enough trained

9. www.fh-joanneum.at MANAGEMENT LITERATURE  http://www.vvo.at/financial-education-der-osterreichische-versicherungsverband-vvo-100-  sekunden-fur-ihre-finanz.html  http://www.konsumentenfragen.at/konsumentenfragen2/Fuer_die_Schule/Aktuelles/Versic  herungsverband_Qesterreich_macht_Finanzbildung  https://www.wissensfabrik-oesterreich.at/portal/load/fid509955/2012-04-  10_Medieninfo_Finanzbildung_Wissensfabrik.pdf  http://finanzbildung.bmask.gv.at/bmsk/index.html  http://www.parlament.gv.at/PAKT/VHG/XXIV/AB/AB_10612/fnameorig_251314.html  http://www.sparkasse.at/salzburg/Presse/Presseinfos-  2013/Initiative_fuer_mehr_Finanzbildung_in_Oesterreich  http://www.oenb.at/de/ueber_die_oenb/wirtschaft/initiative_finanzwissen.jsp  http://www.wirtschaftsmuseum.at/pdf/Banken_2011.pdf  http://www.ifs.at/fileadmin/user_upload/Dokumente/Schulden/Jahresbericht_2007_HPVersion.pdf  https://www.finanzportal.at  http://www.schuldner-hilfe.at/cms/index.php?menuid=12  www.fitfuersgeld.at/