New textbook on financial literacy for higher education
A team of co-authors of the Department of Economics at the Lomonosov Moscow State University commissioned by the Bank of Russia have elaborated a set of teaching materials consisting of a textbook, a workbook with tasks and real-life cases, as well as methodological recommendations for university professors.
The textbook will answer students’ questions concerning the most pressing financial issues: loans and deposits, insurance, pensions, financial security, and payment cards. Several sections touch upon opportunities and risks awaiting beginner investors and businessmen, financial instruments needed to set up and develop a new company, and state support measures for businesses.
The methodological recommendations offer advice on training arrangements, material presentation, and a sample teaching plan.
‘These days, financial literacy has become part of educational programmes in all Russian universities and, as such, is studied by future economists, doctors, engineers, and lawyers’, noted Mikhail Mamuta, head of the Service for Consumer Protection and Financial Inclusion of the Bank of Russia. ‘Simply because all university graduates need to manage their own finances, be able to keep and increase them, and also to know methods of anti-fraud protection. All this is the goal of our textbook.’
‘We wanted to make our textbook both accurate in terms of the presentation of legal rules and interesting for students,’ said Rostislav Kokorev, head of the group of co-authors and the financial literacy laboratory at the Department of Economics of the Moscow State University. ‘A rather complicated task, it needs to be solved, if we want the textbook to be in demand with generation Z.’
You can download the set for free on the Financial Culture web-site. Once published, textbooks, workbooks and methodological recommendations will be sent to about 200 universities cooperating with the Bank of Russia.