insight
Evidence type: Insight i
Qualitative research is more exploratory, and uses a range of methods like interviews, focus groups and observation to gain a deeper understanding about specific issues - such as people’s experiences, behaviours and attitudes.
Quantitative research uses statistical or numerical analysis of survey data to answer questions about how much, how many, how often or to what extent particular characteristics are seen in a population. It is often used to look at changes over time and can identify relationships between characteristics like people’s attitudes and behaviours.
In 2015 the OECD Programme for International Student Assessment (PISA) assessed the science, reading, mathematics and financial literacy ability of 15-year-olds across 15 countries in order to inform educators and policy makers of the quality and equity of learning outcomes achieved elsewhere. “Financial literacy” was defined as a combination of knowledge, skills, attitudes and behaviour necessary to make sound financial decisions and ultimately to achieve financial well-being. The 2015 assessment built on a similar exercise undertaken in 2012.
Over half a million 15-year-old school students in 15 OECD and partner countries (not including the UK) took part in a standardised test of financial literacy, mathematics, science and reading. The test used a combination of multiple-choice and more complex questions. Tests were computer based and lasting, in total, up to two hours per student. Participants, school staff and parents also completed background questionnaires to provide demographic and other contextual information. Analysis of results allowed individuals to be allocated to one of five PISA proficiency levels. The methodology was carefully managed to ensure that results were representative of each country (or participating provinces within it) and could be reliably compared internationally.
Note: The report asserts that all figures it quotes are statistically significant.
PISA 2015: students’ financial literacy - full report
Note: Available for online reading or purchase only
PISA 2015: students’ financial literacy - full reportNote: Available for online reading or purchase only
OECDhttp://www.oecd-ilibrary.org/contact