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In this chapter, we present findings on teachers’ financial literacy from a Swiss perspective. Analyses of the curricula of different levels and types of Swiss schools reveal that financial literacy should be taught. However, the learning objectives and curriculum contents regarding financial literacy vary in terms of detail and duration. To teach financial literacy, teachers must have the appropriate knowledge. International empirical results show that teachers have low levels of economic and financial literacy. International empirical results for other subjects reveal that formal opportunities to learn provide teachers with content and pedagogical content knowledge to teach economic and financial literacy. However, Swiss teachers’ education and training is currently subject to reforms and remains heterogeneous.

In the aftermath of the 2008 financial crisis, it became obvious that Swiss private households were increasingly exposed to complex and dynamic financial markets. Similarly, they had a higher individual responsibility for financial and retirement planning as the state did not protect them sufficiently from market failure. Since then, if not earlier, there has been a strong political claim in Switzerland to support financial literacy, not only in compulsory education, but also in further education to avoid private debt and to strengthen financial provision. Surprisingly, only a few empirical studies exist which disclose the level of financial literacy in Switzerland and demonstrate the relation between financial literacy and financial behaviour. The purpose of this chapter is thus to analyse how financial education is implemented in Swiss schools, and second to outline to what extent financial literacy among Swiss people has been examined in empirical studies so far.

metacognition in financial education