Comparison of financial literacy between Korean and U.S. high school students

This study looks into the financial literacy between Korean and U.S. high school students. The mean scores for Korean students fell between those for U.S. students with and without FFFL, but much closer to those with FFFL. Korean students tended to be stronger in such contents as “earning income.” A comparison of financial literacy based on the Bloom's cognitive level indicates that Korean students showed relatively strong financial literacy at the cognitive level of knowledge, but weak financial literacy at higher cognitive levels of comprehension and application.