Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/251057 
Year of Publication: 
2022
Publisher: 
ZBW - Leibniz Information Centre for Economics, Kiel, Hamburg
Abstract: 
We present a 12-item scale measuring the cognitive component of economic competence and document the psychometric properties of the scale. Using a data set with more than 12,000 secondary school students in Germany, the scale shows high discriminatory power and covers a wide range of ability levels. Analyses of `Differential Item Functioning´ show no item bias across key demographic characteristics, and scores show meaningful associations with scores obtained from adjacent test instruments. Student-level correlates mirror estimates documented in earlier literature on economic and financial literacy as well as results relying on a more extensive scale with over 30 items. The presented short scale enables researchers and practitioners to efficiently measure economic competence of youth.
Subjects: 
economic competence
economic literacy
IRT
measurement
JEL: 
A21
I21
G53
Document Type: 
Working Paper

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