An Empirical Research on the Factors Determining Economic Literacy Level

Abstract

Economic literacy, which is explained as being able to interpret economic events and developments, and having a basic level of economic knowledge, becomes more and more important every day. In the globalizing world, it is seen that the economic decision-making processes of individuals who have consumer, producer and investor roles have diversified and become more complex. In this diverse and complex decision-making process, individuals' economic knowledge levels affect the decisions to be made. In this direction, the decisions taken by individuals become more important for both their own wealth and the economies of the country. Survey of individuals living in Turkey for over 385 people in the framework of the aforementioned considerations in this study to determine the level of economic literacy is made. When the answers given by the participants are evaluated, it is seen that the level of economic literacy is sufficient. When the effect of demographic factors on economic literacy is examined in the study, there is no statistically significant difference according to gender, age, marital status and income level, it is seen that the differentiation is significant according to education level and occupation groups. Within the framework of the findings obtained as a result of the study, it is considered that making economics education more widespread and providing access to information with the cooperation of universities and economic institutions will be beneficial in increasing the level of economic literacy.