The main focus of the Programme for International Student Assessment (PISA) financial literacy assessment is on measuring the proficiency of 15-year-old students in demonstrating and applying the knowledge and skill that they have learned in and out of school. Like other PISA domains, financial literacy is assessed using an instrument designed to provide data that are valid, reliable and interpretable. PISA is an international comparative assessment of student achievement directed by the Organisation for Economic Co-operation and Development (OECD). PISA measures how well 15-year-olds, who are nearing the end of their compulsory schooling in most participating educational systems, are prepared to use the knowledge and skills in particular areas to meet real-life opportunities and challenges. In addition to measuring students’ skills in the core areas of reading literacy, mathematical literacy and scientific literacy, PISA was the first large-scale international assessment to assess financial literacy in 2012. The second assessment of financial literacy was once again conducted as an optional component in PISA and was conducted in 15 countries and economies in 2015. In Australia, the inclusion of financial literacy in PISA is funded by the Australian Securities and Investment Commission (ASIC). This report focuses on Australian students’ performance in the PISA 2015 financial literacy assessment. Chapter 2 provides a brief overview of the PISA financial literacy assessment framework, the assessment structure and examples of the financial literacy items. Chapter 3 presents results on the performance of Australian students in an international context, while Chapter 4 focuses on performance of different demographic groups of interest. Chapter 5 is devoted to students’ experiences, attitudes and behaviour towards financial literacy.
Copyright Australian Council for Educational Research Ltd 2017
Available at: http://works.bepress.com/lisa_debortoli/29/