Dynamic Financial Literacy Education Model Design for Elementary School Students in Tehran Using a Systems Approach and Gender Analysis

Abstract

The present study aimed to design and simulate a dynamic educational model for improving the financial literacy of 10–12-year-old elementary school students in Tehran with an emphasis on gender differences and the role of family, educational, and systemic factors. This study employed a mixed-methods (quantitative–qualitative) approach. The statistical population included elementary school students, their parents, and teachers in Tehran. Using multistage cluster sampling, 675 participants were selected. Quantitative data were collected through the OECD/INFE standardized questionnaire, while qualitative data were obtained via semi-structured interviews with teachers, parents, and financial literacy experts. Statistical analyses were conducted using SPSS 27, thematic analysis was performed using MAXQDA, and system dynamics modeling was implemented using Vensim PLE software. The main variables included financial knowledge, financial behavior, financial attitude, family factors, educational factors, and gender differences. In addition, causal loop diagrams and stock-flow models were used to simulate the dynamic relationships among the variables. The findings revealed that girls demonstrated significantly higher financial knowledge (Mean=12.32) than boys (Mean=11.28) (t=-3.88, p<0.001). Financial behavior was also significantly stronger among girls (Mean=13.35) compared to boys (Mean=12.43) (t=-2.73, p=0.007). The correlation between financial knowledge and financial behavior was stronger among girls (r=0.700) than boys (r=0.669). Results further indicated that mothers played a more influential role than fathers in children’s financial education, and higher-income families exhibited more positive attitudes toward financial literacy education. Regional ANOVA results showed significant differences in financial knowledge and systemic factors across different districts of Tehran. Thematic analysis emphasized the critical roles of family, teachers, media, and gender differences in shaping children’s financial literacy. The system dynamics simulation demonstrated that educational interventions implemented from the sixth month onward could substantially improve financial knowledge over time and reduce the gender gap in financial literacy. The results demonstrated that applying a system dynamics approach to children’s financial literacy education can facilitate the design of effective, sustainable, and gender-sensitive educational policies. Integrating family, educational, and cultural factors into a systemic model enabled the prediction of long-term educational outcomes and showed that targeted interventions can improve financial behaviors and reduce gender disparities in financial literacy. The proposed model may serve as a practical framework for developing financial literacy programs in developing countries.