Child Economic Literacy Scale: design, validation and metric properties
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Abstract
There is only a small body of research on economic literacy and economic thought amongst Mexican children, therefore, it is necessary to create a scale to measure their economic literacy. This study aimed to develop an economic literacy scale to measure and evaluate the ideas and attitudes of Mexican elementary students ages 9 to 12. The participants were chosen through an intentional non-probabilistic sampling which consisted of 520 6th grade public school pupils. After performing the exploratory and confirmatory factor analyses, the scale was integrated into 18 items, organized into 5 factors: one of them corresponds to the money factor made up of 4 items; the consumption factor was also made up of 4 items, as was the intelligent
consumption factor; while the savings and budget planning factors were made up of 3 items each.
Obtaining adjustment indexes with values with X2 of 192,308, SRMR of 0.062, TLI of 0.870, IFC of R.894, and RMSEA of 0.045. The result is a scale that is valid to measure children’s ideas and attitudes about
concepts related to their economic thinking.
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