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Modelling Changes To Survey Response Items Over Time In A Britain Financial Literacy Education Study

Shi, X and Prevett, Pauline and Farnsworth, Valerie and Kwong, Koo Chun and Wan, Wanggen and He, Feng and Zhai, Qingqing and Zhen, Lu (2019) Modelling Changes To Survey Response Items Over Time In A Britain Financial Literacy Education Study. Journal of Financial Counseling and Planning, 30 (1). pp. 56-66. ISSN 1052-3073

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Abstract

This study develops a general method for modeling changes in response to items relating to students perceptions of personal finance and financial products. The new method is illustrated to analyze data from a sample of 1,250 students aged 16-18 who participated in a financial capability education study in the UK. We demonstrate how a quantitative indicator of the changes in students' responses can be applied in various educational research projects, particularly as a measure of program effectiveness. Predictions are based on prior survey responses, which are taken as relevant historical information for a cohort of students. We find significant changes in the responses of students towards reported career choice following the Financial Literacy Education course at national colleges in the UK.

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