Financial Literacy: Mathematics and Money Improving Student Engagement

The low levels of student engagement with mathematics has been of significant concern in Australia for some time (Attard, 2013). This is a particularly important issue in mathematics education given the current attention to science, technology, engineering and mathematics (STEM) education to ensure "the continued prosperity of Australia on all fronts--socially, culturally and economically--for all our citizens and for our place in the world" (Office of the Chief Scientist, 2013, p.3). One of the most common reasons for students to disengage with mathematics is the issue of relevance. Many students fail to see how the mathematics they learn in the primary classroom is applied in their day-to-day lives. Financial literacy appears to be a natural solution to this issue because all students have some familiarity with money related matters. This article presents a case study of one class from a Year 6 classroom from Fairfield Public School that successfully addressed this issue through their participation in an action research project that was based around MoneySmart. The Framework for Engagement with Mathematics is described. The aim of the project was to explore if combining financial literacy education and mathematics, through the use of student-centred units of work, could improve engagement with mathematics and provide a foundation of financial literacy to positively impact children's lives (Attard, 2016). The process for developing a new unit of work in financial literacy is explained.