Objectives:

Upon completion of this course, participants will be able to:

• Differentiate between **financial literacy, financial education, and financial capability**, and understand the role of each in public policy.
• Analyze the key components and global models for developing a **National Financial Education/Capability Strategy**.
• Apply principles of **behavioral economics** to design effective, context-specific financial capability interventions.
• Develop and implement a robust framework for measuring the **impact and effectiveness** of financial education programs.
• Evaluate various delivery channels and formats (e.g., school-based, workplace, digital, mass media) for financial education.
• Design effective **multi-stakeholder coordination mechanisms** to ensure the sustainability and reach of national programs.
• Understand the role of regulation (e.g., disclosure mandates, cooling-off periods) in complementing financial education efforts.
• Develop strategies for targeting specific vulnerable groups, such as youth, women, and the elderly, with tailored content.

• Policy Makers and Advisors from Central Banks and Ministries of Education/Finance
• Financial Literacy/Capability Program Managers from Regulatory Bodies
• Curriculum Developers and Educators in Financial Institutions
• Development Professionals from International Organizations (OECD, World Bank, etc.)
• Consumer Protection Advocates and NGO Staff
• Researchers focused on Behavioral Economics and Financial Decision-Making
• Senior Executives responsible for consumer education and outreach

• Case Studies analyzing successful and failed national financial education programs.
• Group Activities on designing a behavioral "nudge" to increase savings uptake.
• Discussions on the ethics of nudging and the limits of financial literacy as a solution.
• Individual Exercises on developing an M&E framework for a school-based program.
• Policy workshop simulation on allocating public resources to different delivery channels.
• Review of OECD/INFE guidance and relevant academic research findings.

Unit 1: Foundations of Financial Capability Policy

• Defining Financial Literacy: Knowledge and Understanding.
• Defining Financial Capability: Knowledge, Skills, Confidence, and Context.
• The link between financial capability, financial well-being, and consumer protection.
• The economic and social rationale for public investment in capability programs.

• Overview of the **OECD/INFE** principles for National Financial Education Strategies.
• The process of needs assessment, target setting, and priority definition.
• Establishing a national coordinating body and stakeholder engagement.
• Case studies of effective national strategies and their unique features.

Unit 2: Behavioral Economics and Intervention Design

• Key cognitive biases (e.g., present bias, inertia) that affect financial decisions.
• Applying **Behavioral Insights** (Nudges) to improve savings and credit choices.
• Designing intervention timing and context (e.g., "teachable moments").
• The role of simple, clear language in disclosure and education materials.

• Core content areas: Budgeting, savings, debt management, insurance, and investment.
• Strategies for integrating financial education into the national school curriculum.
• Utilizing digital channels (apps, games, social media) for high-reach delivery.
• The role of workplace programs and community-based advisory services.

Unit 3: Targeting Vulnerable Groups

• Tailoring content and delivery for youth and young adults (transitioning to adulthood).
• Designing financial education programs for women and female entrepreneurs.
• Strategies for reaching low-income, rural, and elderly populations.
• Addressing numeracy and low literacy in program design.

Unit 4: Evaluation and Measuring Impact

• Differentiating between measuring program **outputs, outcomes, and long-term impact**.
• Developing a robust **Monitoring and Evaluation (M&E)** plan for capability programs.
• Methodologies for randomized control trials (RCTs) and quasi-experimental designs.
• Using financial well-being metrics to assess the ultimate success of interventions.

Unit 5: Regulation as a Complementary Tool

• How mandatory, simple disclosures complement financial knowledge.
• The role of default options and simplified product menus (Choice Architecture).
• Regulatory mandates for financial education by service providers.
• Ensuring coherence between financial capability policy and consumer protection law.