Should personal finance be the first finance course?
DOI:
https://doi.org/10.61190/fsr.v22i3.4655Keywords:
Education, Managerial Finance, Personal FinanceAbstract
We examine the effect that taking a college-level personal finance course has on students' performance in a concurrent or subsequent managerial finance course. Using institutional data for students in first time, full time cohorts for 2002-2006, we find that taking the finance courses concurrently appears to significantly increase the likelihood of earning a higher grade in or passing Financial Management, but that taking Personal Finance first does not. We conclude that taking the courses concurrently may be beneficial because it increases the time spent on complementary reading and homework, provides two perspectives on similar material, and increases focus on finance.
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