Economic and Management Sciences Teachers’ Experiences of Teaching Financial Literacy: Implications for Teacher Training

Abstract

This paper reports on economic and management sciences (EMS) teachers’ experiences of teaching the financial literacy component in this learning area. It also provides a holistic understanding of their challenges and professional development needs in this integrated field. A qualitative case study approach was used to allow for an in-depth understanding of EMS teachers’ views and experiences. Data were collected through open-ended questionnaires and semi-structured interviews. Purposive sampling was used to select information-rich participants from selected government secondary schools in Gauteng province, South Africa. Participants in the study included grades 8 and 9 EMS teachers. A thematic analysis approach was used to analyze data collected from the open-ended questionnaires and interview responses. The findings show that, due to poor training, EMS teachers continue to experience challenges in integrating the financial literacy component. Consequently, teachers default to fragmented approaches to teaching EMS, which undermines government initiatives aimed at realizing social transformation objectives through the EMS curriculum. The study recommends an implicit approach to teacher development programs by incorporating EMS teachers’ views, experiences, and specific needs as well as contexts. The research contributes to the literature on commerce education in South Africa by offering ways in which education can be transformative and how the quality of teaching financial literacy in EMS can improve.