A Comparative Study of Financial Literacy Curriculum in General Formal Education of Australia, South Africa and USA: Recommendations for Iranian Curriculum Planners

The current research was conducted with the aim of comparative study of financial literacy curriculum in general formal education of Australia, South Africa and USA. The unit of observation and analysis is macro (countries) and the selection strategy was “similar social systems; similar educational outputs". The data was collected in the form of documents from databases related to financial literacy (2000-2021) and George Bereday's model was used for analysis of data. The validity of research was ensured through triangulation of data. The findings reveal similarities among selected countries in the goals and development of financial literacy standards of financial literacy. Employing the integration approach in formulating content and evaluation methods based on activity-oriented and inclusive-oriented is emphasized. The official curriculum is considered as the equivalent of educational programs. Australia's explicit emphasis on the value dimension of financial literacy goals and parents' participation and providing financial literacy as a curriculum unit and using the standardized approach in USA are among the distinguishing features of the selected countries. In the field of evaluation, the non-participation of South Africa in the PISA tests and the development of local and international standards in the United States are other differences between the selected countries. Therefore, preparing, compiling and approving the objectives of the financial literacy curriculum in cognitive, attitudinal, skill and value dimensions, as well as preparations of integrated approach in the financial literacy curriculum are suggested to Iranian curriculum planners.