Basic arithmetic on financial literacy skills: A new learning outcome

Authors

  • Laela Sagita Universitas PGRI Yogyakarta
    Indonesia
  • Ratu Ilma Indra Putri Universitas Sriwijaya
    Indonesia
  • Zulkardi Zulkardi Universitas Sriwijaya
    Indonesia
  • Rully Charitas Indra Prahmana Universitas Ahmad Dahlan
    Indonesia

DOI:

https://doi.org/10.23917/jramathedu.v8i1.1252

Keywords:

Basic Arithmetics Financial Literacy Merdeka Currirulum

Abstract

Multiplication is the most difficult basic arithmetic operation and has been documented since 1980. Another multiplication difficulty dealing with story problems, they tend to assume that multiplication produces a larger result and the other way for division. Several studies show basic mathematics as one of the cognitive factors that affect the financial literacy ability of each individual. This study used a qualitative descriptive analysis with the subject of three students from different schools and geographical locations. Basic mathematics as one of the cognitive factors that affect the financial literacy ability of each individual The introduction of cases such as ordering through online applications in learning mathematics may improve students' knowledge about activities related to finance. Individual context is important in personal financial management since the decision pertains to the fulfilment of personal needs.

References

Arceo-Gomez, E. O., & Villagómez, F. A. (2017). Literasi finansial among Mexican high school teenagers. International Review of Economics Education, 24, 1-17.https://doi.org/10.1016/j.iree.2016.10.001

Amagir, A., van den Brink, H. M., Groot, W., & Wilschut, A. (2021). SaveWise: The impact of a real-life financial education program for ninth grade students in the Netherlands. Journal of Behavioral and Experimental Finance, 100605. https://doi.org/10.1016/j.jbef.2021.100605

Allinger, G. D., & Payne, J. N. (1984). Teaching percent to general mathematics students. Unpublished manuscript, Department of Mathematical Sciences, Montana State University, Bozeman, MT.

Baratta, W., Price, B., Stacey, K., Steinle, V., & Gvozdenko, E. (2010). Percentages: The effect of problem structure, number complexity and calculation format. Mathematics Education Research Group of Australasia.

Blue, L. E., O’Brien, M., & Makar, K. (2018). Exploring the classroom practices that may enable a compassionate approach to financial literacy education.Mathematics Education Research Journal, 30(2), 143–164. https://doi.org/10.1007/s13394-017-0223-5

Bottazzi, L., & Lusardi, A. (2020). Stereotypes in literasi finansial: Evidence from PISA. Journal of Co IDRorate Finance, 101831. https://doi.org/10.1016/j.jco IDRfin.2020.101831.

Cupák, A., Fessler, P., Schneebaum, A., & Silgoner, M. (2018). Decomposing gender gaps in literasi finansial: New international evidence. Economics Letters, 168, 102-106. https://doi.org/10.1016/j.econlet.2018.04.004.

Fischbein, E., Deri, M., Nello, M., & Marino, M. (1985). The role of implicit models in solving problems in multiplication and division. Journal of Research in Mathematics Education, 16, 3–17. https://doi.org/10.2307/748969

Graeber, A. O., Tirosh, D., & Glover, R. (1989). Preservice teachers’ misconceptions in solving verbal problems in multiplication and division. Journal for Research in Mathematics Education, 20, 95–102. https://doi.org/10.2307/749100

Harel, G., Behr, M., Post, T., & Lesh, R. (1994). The impact of number type on the solution of multiplication and division problems: Further considerations. In G. Harel & J. Confrey (Eds.), The development of multiplicative reasoning in the learning of mathematics (pp. 365–388). SUNY Press

Hill, A. (2010). Money matters for the young learner. Social Studies and the Young Learner, 22(3), 25-31. https://www.socialstudies.org/system/files/publications/articles/yl_220325.pdf

Hizgilov, A., & Silber, J. (2019). On multidimensional approaches to literasi finansial measurement. Social Indicators Research, 1-44. https://doi.org/10.1007/s11205-019-02227-4

Indefenso, E. E., & Yazon, A. D. (2020). Numeracy Level, Mathematics Problem Skills, and Financial Literacy. Universal Journal of Educational Research, 8(10), 4393-4399. DOI: 10.13189/ujer.2020.081005

Kieran, C., Doorman, M., & Ohtani, M. (2015). Frameworks and principles for task design. In A. Watson & M. Ohtani (Eds.), Task design in mathematics education (pp. 19–81). Springer.

Lusardi, A. (2015). Literasi finansial skills for the 21st century: Evidence from PISA. Journal of consumer affairs, 49(3), 639-659. https://doi.org/10.1111/joca.12099

Lusardi, A. (2012). Numeracy, literasi finansial, and financial decision-making (No. w17821). National Bureau of Economic Research. https://doi.org/10.3386/w17821

Lusardi, A., Hasler, A., & Yakoboski, P. J. (2020). Building up literasi finansial and financial resilience. Mind & Society, 1-7. https://doi.org/10.1007/s11299-020-00246-0

Merriam, S. B., & Tisdell, E. J. (2015). Qualitative research: A guide to design and implementation. John Wiley & Sons.

Moreno-Herrero, D., Salas-Velasco, M., & Sánchez-Campillo, J. (2018). Factors that influence the level of literasi finansial among young people: The role of parental engagement and students' experiences with money matters. Children and Youth Services Review, 95, 334-351. https://doi.org/10.1016/j.childyouth.2018.10.042.

Ngu, B. H. (2019). Solution representations of percentage change problems: The pre-service primary teachers’ mathematical thinking and reasoning. International journal of mathematical education in science and technology, 50(2), 260-276. https://doi.org/10.1080/0020739X.2018.1494860

Njie, B & Asimiran, S. (2014) Case study as a choice in qualitative methodology. Journal ofResearch and Method in Education, 4(3), 35-40. e-ISSN: 2320–7388, p-ISSN: 2320–737X

OECD. (2015). Recommendation on Principles and Good Practices for Financial Education and Awareness. Paris: Directorate for Financial and Ente IDRrise Affairs.

OECD. (2017), PISA 2015 Results (Volume IV): Students’ Literasi finansial, PISA, OECD Publishing, Paris. http://dx.doi.org/10.1787/9789264270282-en

OECD. (2019). PISA 2018 Assessment and Analytical Framework. Paris: OECD Publishing.

OECD. (2020), PISA 2018 Results (Volume IV): Are Students Smart about Money?, PISA, OECD Publishing, Paris, https://doi.org/10.1787/48ebd1ba-en

OJK. (2021). OJK Bersama Kementrian atau Lembag Terkait Berkomitmen Berantas Pinjol Ilegal. Jakarta.

Ozkale, A., & Ozdemir Erdogan, E. (2020). An analysis of the interaction between mathematical literacy and literasi finansial in PISA. International Journal of Mathematical Education in Science and Technology, 1-21.

Ozkale, A., & Erdogan, E. O. (2020). A Conceptual Model for the Interaction of Mathematical and Financial Literacies. International Journal of Progressive Education, 16(5), 288-304. DOI: 10.29329/ijpe.2020.277.18

Ozkale, A., & Aprea, C. (2023). Designing mathematical tasks to enhance financial literacy among children in Grades 1–8. International Journal of Mathematical Education in Science and Technology, 54(3), 433-450.

Parker, M., & Leinhardt, G. (1995). Percent: A privileged proportion. Review of Educational Research, 65(4), 421-481.

Riitsalu, L., & Põder, K. (2016). A glimpse of the complexity of factors that influence literasi finansial. International Journal of Consumer Studies, 40(6), 722-731. https://doi.org/10.1111/ijcs.12291

Savard, A., & Polotskaia, E. (2017). Who’s wrong? Tasks fostering understanding of mathematical relationships in word problems in elementary students. Zdm, 49, 823-833. https://doi.org/10.1007/s11858-017-0865-5

Sagita, L., Putri, R. I. I., & Prahmana, R. C. I. (2022). Promising research studies between mathematics literacy and financial literacy through project-based learning. Journal on Mathematics Education, 13(4), 753-772. https://doi.org/10.22342/jme.v13i4.pp753-772

Siegler, R. S., & Lortie-Forgues, H. (2017). Hard Lessons: Why Rational Number Arithmetic Is So Difficult for So Many People. Current Directions in Psychological Science, 26(4), pp. 346–351. https://doi.org/10.1177/0963721417700129

Sole, M. A. (2014). Literasi finansial: An essential component of mathematics literacy and numeracy. Journal of Mathematics Education At Teacher College, 2(5), 55-62.

Sole, M. A. (2017). Financial education: Increase your purchasing power. The Mathematics Teacher, 111(1), 60-64.

Starman, A. B. (2013). The case study as a type of qualitative research. Journal of Contemporary Educational Studies, 1, 28–43.

Submitted

2022-11-13

Accepted

2023-08-17

Published

2023-08-17

How to Cite

Sagita, L., Putri, R. I. I., Zulkardi, Z., & Prahmana, R. C. I. . (2023). Basic arithmetic on financial literacy skills: A new learning outcome. JRAMathEdu (Journal of Research and Advances in Mathematics Education), 8(1). https://doi.org/10.23917/jramathedu.v8i1.1252

Issue

Section

Articles