Economic Literacy Among Undergraduate Education Students At The University Of Cape Coast, Ghana

Abstract

The study assessed economic literacy among undergraduate education students at the University of Cape Coast using a cross-sectional survey design. A multi-sampling technique was employed to select 300 respondents. The adapted Test of Economic Literacy (TEL) was used to assess the students’ economic literacy level, while the ecolit factor questionnaire (EFQ) examined factors influencing their economic literacy. Data analysis included descriptive statistics (median and interquartile range) and inferential statistics (ANOVA, regression analysis). Findings indicated that the level of economic literacy among undergraduate education students at the University of Cape Coast was good. The study found that there was a statistically significant influence of students’ programme of study on their economic literacy. The study showed that undergraduate students’ engagement in co-curricular activities, career aspiration, and prior exposure to economics courses had no significant influence on their economic literacy. However, there was no interaction effect between students’ programme of study and prior exposure to economics courses on their economic literacy. It was recommended that lecturers who teach microeconomics should make the teaching of the topics more practical to promote deeper understanding in undergraduate students. Also, the university through the various departments should organise co-curricular activities, such as economics or business-related workshops.