+ Financial Education & MediaSumming-up Eight-Year Experienceof Polish Economic And FinancialEducation Programs in Mass Me...
+                                                                                            2       No National Financia...
+                                                                                                    3    NBP: Variety of...
+                                                                                                     4    Many, but unco...
+                                                        5 Leadership (Decision-Maker)                                   ...
+                                                                           6 To develop a nationwide system of financial...
+                                                                                        7 Repeating (single shots do not...
+                                                           8 Tell me and I will forget it. Show me and I will forget it....
Upcoming SlideShare
Loading in …5
×

Financial Education and Media

531 views
473 views

Published on

This is a short presentation focusing on the role of the mass media in the financial literacy of the society. Remarks are based on 8-years of experience of the National Bank of Poland educational programs.

Published in: Education
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
531
On SlideShare
0
From Embeds
0
Number of Embeds
18
Actions
Shares
0
Downloads
3
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Financial Education and Media

  1. 1. + Financial Education & MediaSumming-up Eight-Year Experienceof Polish Economic And FinancialEducation Programs in Mass MediaMarcin Polak, Think Point PolandFormer Head of Economic Educationof the Polish Central Bank (2002-2007)
  2. 2. + 2   No National Financial Education Strategy and still no political motivation in the public administration to do that;   Some public institutions developing financial education programs (the most intense the National Bank of Poland – the central bank & some: the stock exchange, the financial supervision authority);   Several private companies from the financial sector involved in nationwide or local FE programs (mainly banks);   No mandatory financial education program at schools (no learning framework). No serious FE programs for adults.   Many FE initiatives in the non- profit sector/schools.National Bank of Poland – the central bank of Poland, independent (from Government) publicinstitution - in the years 2002-2009 spent itself from its own resources an amount of c.a. 43 MillionEuro (163 Million PLN) on supporting economic and financial education in Poland, includingbroad and diverse activities in the mass media (both information and edutainment approach).
  3. 3. + 3  NBP: Variety of programs designed and implemented (>15 models of Financial Edutainment Programs: delivering knowledge):   „Gold for the Bold – Poles & Money” was a 120  for youth: specially designed (voluntary) minutes long dynamic television show on programs for schools, essay competitions, Sunday evening in the TVN television (Feb.06). training, seminars, economic games, Range: 8 M. viewers; 102.000 tested their multimedia animation series, comic knowledge on money online. [FGI: increase of books, YouTube style movies; knowledge 5,62% after; fortnight: 2,96%; youth  for adults: 10,11%]   via mass media – edutainment   Poles Own Wallet Portrait: 3,5 week programs (television movies, series/ educational TV campaign on personal soaps and documentaries; radio finance education – 6 ninety-sec. soaps; eduvertisements), inserts, ‘eduvertisements’; published 266 times in four publications; channels of the TVN television (Dec.06/Jan.07).   via professional training of various Range: 10,5 M. [FGI: increase of knowledge interest groups important for 13,9% after; fortnight: 11,8%; youth 18,6%, implementing educational strategy – fortnight: 19,8%] journalists, teachers, priests(!),  for internet users (both youth & adults)   What? Internet Movies. Education through 60 (NBPortal.pl – probably the largest short (max. 3min.) movies disseminated in economic and financial education website Internet (viral marketing). Range: 4,5 M UU. worldwide). [FGI: increase of knowledge 17,5% after; fortnight: 21,8%; youth 15,3%, fortnight: 17,4%]
  4. 4. + 4  Many, but uncoordinated FinEd programs nationwide help in most cases to solve local problems, but no global, national;  Therefore we need national financial education strategy; policy & coordination is needed;  We need serious budgets; FinEd is a serious social investment; go won’t go far with 1000 USD in the pocket;  We need money not only to educate people, but for the marketing of the education too. That might constitute up to 20% of the budget; we must not ignore it – this is a tool to create motivation, show opportunity and demand for more education;  Teaching/learning in 20th Century schemes is not working; explore new methods of education popular in the target groups (youtube & podcast education, e-learning, edutainment);  If we approach global problems, we need effective channels of communication/education: mass media; from the Polish experience: it was confirmed they are important allies for FinEd of the society – especially in financial edutainment;  Media should be partners in most FinEd programs – that usually offers global range of programs;  The role of evaluation is to support the FinEd policy; first of all its results should help to develop programs and make them more effective;  … Engage (people) and they will understand!
  5. 5. + 5 Leadership (Decision-Maker) Mr. Leszek Balcerowicz The Governor of the National Bank of Poland (2002-2007) Economist, Deputy Prime Minister, author of economic reforms that transformed Polish economy into the market economy, True supporter of the economic education in the central bank.
  6. 6. + 6 To develop a nationwide system of financial education ACTION FROM THE TOP (financial resources) (Government, Central Bank, Financial Supervision, Consumer Protection Agency) effective financial education is somewhere here! = CREATE PARTNERSHIPS GRASSROOT ACTION (projects, contents) (non governmental organizations, schools, universities, companies)
  7. 7. + 7 Repeating (single shots do not work) Ebbinghaus curve – how we forget in the learning process (= 1/2 of the material in first 2 hours)http://en.wikipedia.org/wiki/Forgetting_curve memory But if we repeat, the message is still remembered. days
  8. 8. + 8 Tell me and I will forget it. Show me and I will forget it. Engage me and I will remember it. ConfuciusApply means of communication, tools and methods that not onlyare appropriate for a specific target group. Mix this methodsand tools in a single action, support interactivity, motivateyour target group to engage in the action, repeat, evaluate,modify, combine, expand...+ MARKETING, MARKETING, MARKETING!!!+ Thinking in long time perspective.

×