A Quantitative Analysis of Financial Literacy at The University of Mississippi

Abstract

This thesis examines why financial literacy is important and what factors can influence students\u27 financial literacy at the University of Mississippi. Financial literacy is important and can affect many aspects of life, whether it is political, financial, educational or personal. Students enrolled in EDHE 105 participated in the multiple-choice survey, which included socioeconomic, demographic and financial literacy questions. Participants\u27 answers were analyzed using four statistical models: ordinary least squares regression, univariate analysis or means by differences analysis, interactions and probit analysis. The study found that the average score, 2.02 out of five, to the financial literacy quiz for all participants was comparable to the national average, 2.30 out of five, for 18-to-34 year olds. The study also found that there are three dominant factors that can influence one\u27s financial literacy level: being a male, being Caucasian and having either a part-time or full-time job