Financial literacy becomes mandatory in middle schools

The Ministry of Education unveiled a new financial education curriculum that will become mandatory starting next school year for 9th graders and the following year for 10th graders. The program covers mindful consumerism, money and banking, the job market, and investments. 550 teachers have been trained, with about 750 more joining in September. Education Minister Yoav Kisch welcomed the move.

The Ministry of Education unveiled on Sunday a new financial education curriculum that will become a mandatory subject in middle schools. Starting next school year, the program will be taught in 9th grade, and the following year in 10th grade. The curriculum includes four main chapters: mindful consumerism and financial decision-making, the world of money and banking, the job market in a changing world, and investments – between opportunity and risk. In 9th grade, students will learn about purchasing motives, distinguishing needs from wants, basic economic concepts such as supply and demand, youth rights at work, and concepts like interest and compound interest. In 10th grade, learning will deepen into personal budget planning, the role of the central bank, reading a pay slip, and investment avenues such as the stock market and real estate. 550 teachers have already been trained, and about 750 more are expected to join in early September. In October, a 60-hour continuing education course will be held for about 1,300 teachers of 9th grade. Education Minister Yoav Kisch said this is an important and welcome step to provide students with financial tools.