Conceptualisation and Measurement of Financial Competence

Prof. Dr. Manuel Förster has been a professor of business and economics education at the Technical University of Munich, Germany, since 2019. His research interests include the modeling and assessment of financial competences and knowledge. His focus is on measuring financial behavior and problem-solving in complex ways to infer the underlying solution processes and activated dispositions. He is also interested in the individual and structural factors influencing young people's financial knowledge and competences and how these can be changed. He is one of the applicants and coordinator of the Action-oriented Financial Literacy (AFin) Network, which is funded by the German Research Foundation (DFG). Prof. Dr. Mandy Hommel holds a professorship of vocational education and is vice president for teaching, didactics and professional development at OTH Amberg-Weiden, Germany. She is co-responsible for the network “Action-oriented Financial Literacy”, funded by German Research Foundation. She started her professional career completing a banking apprenticeship and further training, including a degree in banking management. While working for several years for major German banks, she studied business education and management training, gained her doctorate, and habilitated in this field. Her research focuses on reflection and professional development, sustainable teaching and learning processes, digitally-supported teaching and learning, research-based learning, workplace learning, informal learning from online information and attention. Her enduring interest in financial topics and financially literate behaviour is reflected in international collaborative studies and publications in this field.

• 1) Introduction.- 2) Systematisation of Definitions, Concepts, and ConstructsAuthors: Eveline Wuttke, Roland Happ, Mandy Hommel, Sebastian Heidel.- 3) Financial Literacy FrameworksAuthors: Carmela Aprea, Bärbel Fürstenau, Nicole Ackermann, Ronja Baginski, Manuel Vogler, Clara Vonhof.- 4) Interim Conclusion – recommendation for a new competence-oriented model of financial literacy as a competence Authors: Eveline Wuttke, Carmela Aprea, Bärbel Fürstenau, Manuel Förster, Roland Happ, Mandy Hommel, Carlo Di Chiacchio, Sabrina Greco.- 5) Current Measurement InstrumentsAuthors: Carlo Di Chiacchio, Andreas Kraitzek, William B. Walstad, Sabrina Greco, Manuel Förster.- 6) Test Instrument DevelopmentAuthors: Manuel Förster, Christin Siegfried, Christoph König.