Daniele Chiavenato
Nova School of Business and Economics and NOVAFRICA
Ricardo A. Madeira
University of Sao Paulo
Victor Vaccaro
Insper Institute of Education and Research
ISSN 2183-0843
Working Paper No 2402
May 2024
Abstract:
Can an applied mathematics curriculum enhance student intrinsic motivation and improve math achievement? We tackle this question through a randomized control trial of a program that integrates financial education into the mathematics curriculum in Brazil. Spanning 190 public schools and over 15,000 students, our study reveals that the program significantly boosts students’ interest in mathematics and enhances financial literacy and math performance, particularly among students from poorer socioeconomic backgrounds. Initially, the program strengthens these students’ internal locus of control and broad interest in mathematics during the first year. By the second year’s conclusion, it positively impacts their financial literacy, math proficiency, and specific socio-emotional skills crucial for the labor
market. However, we do not observe significant changes in self-reported financial behaviors or attitudes as measured by a financial autonomy index.
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