Lancement du dispositif EDUCFI de la Banque de France au LIFT : approches pédagogiques et leviers d’action

Abstract

This research analyzes the implementation of the EDUCFI program (economic, budgetary, and financial education) by the Banque de France in the 8th-grade classes at the Lycée International Français de Tuléar (LIFT). The objective is to equip students with the skills to manage their personal finances (pocket money and snacks) and make informed economic decisions, as future financially responsible citizens.

Our work begins with a historical overview of financial education – starting in the 17th century in the Kingdom of France through princely education (Félix J., 2011) and gradually developing across the world – highlighting its rise in global education systems.

An in-depth literature review is conducted along two lines : (i) theoretical, covering theories of human capital (Becker G., 1964), rational choice (Simon H., 1955), financial behavior (Kahneman D. & Tversky A., 1979), financial inclusion (Honohan P., 2008), and financial risk management (Merton R. C., 1993) ; (ii) empirical, exploring the impact of financial education on over-indebtedness (Lusardi A. & Tufano P., 2009), poverty (Hastings J. et al., 2013), economic decision-making (Hilgert M. A. et al., 2003), and the links between public policy and financial education (Jappelli T. & Padula M., 2013), with case studies in both developed and developing countries.

A longitudinal study was conducted with 39 students (via written tests using a 20-questions quiz designed by the Banque de France) to test the program. The results from the first phase (before the EDUCFI training) show an average score of 52.31% in financial education, indicating that students already possess a solid foundational knowledge – largely thanks to parental education, available learning resources, and internet access. This score increased to 60.57% in the second phase (after the training), showing a clear improvement.

To determine whether this improvement is statistically significant and not due to chance, a repeated-measures ANOVA analysis was conducted using Jamovi 2.6.44. The results show p<.001, a highly significant value, allowing for the rejection of the null hypothesis (H0: there is no difference between the scores before and after). Thus, the probability that the differences are due to chance is less than 0.1%. The results suggest that the score progression is statistically very reliable, with a measurable impact from the training.

Two research hypotheses are confirmed : the training improves students’ understanding of financial concepts, and interactive teaching strategies foster the acquisition of financial management skills. A pedagogical need emerges : should financial education be established as a subject starting in 8th grade? The article proposes that the Malagasy government integrate financial education into the national curriculum to better prepare young people for future economic challenges through a proactive educational policy. Financial education proves to be essential in combating poverty and over-indebtedness in Madagascar.