The Impact of the First Wave of Covid-19 on the Financial Security of Economics Students in Higher Education

Authors

  • Botond Kálmán University of Agriculture and Life Science
  • Judit Bárczi Hungarian University of Agriculture and Life Sciences
  • Zoltán Zéman The University of Agriculture

DOI:

https://doi.org/10.35551/PFQ_2021_3_3

Keywords:

financial literacy, environmental crisis, economic higher education, financial security, G53, A22, D14, G01

Abstract

Our study examines the financial literacy of students in higher education studying economics. Literature shows that financial literacy is becoming more valuable, but this increasingly important knowledge is not accompanied by practical results. Therefore, the sense of financial security is also reduced, especially if an unexpected major economic crisis occurs. The reasons for this decline have been investigated. Hungarian and foreign students were interviewed in a two-phase offline questionnaire survey. The first wave of COVID-19 took place between the two surveys to model the economic crisis. The questions assessed students’ theoretical knowledge, financial behaviour, and attitudes towards finance. We also asked how they rated their own financial situation and sense of security. After statistically processing the responses, linear models were set up to identify the factors that played a role in the development of financial security. Our most important result is that the year of the survey influences all dimensions of financial culture, which verifies the role and effect of the crisis caused by the outbreak.

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Published

2021-09-29

How to Cite

Kálmán, B., Bárczi, J., & Zéman, Z. (2021). The Impact of the First Wave of Covid-19 on the Financial Security of Economics Students in Higher Education. Public Finance Quarterly, 66(3). https://doi.org/10.35551/PFQ_2021_3_3

Issue

Vol. 66 No. 3 (2021)

Section

Focus - New effects on retail finances

License

Authors assign copyright to Pénzügyi Szemle / Public Finance Quarterly. Authors are responsible for permission to reproduce copyright material from other sources.