Assessing Financial Literacy among Engineering Students: Current Status and Potential Contribution of Higher Education

11th International Scientific Conference Technics, Informatics and Education – TIE 2026, (pp. 431-437)

AUTOR(I) / AUTHOR(S): Milena Damnjanović , Zorana Stanković and Ivana Đorđević  

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DOI: https://doi.org/10.46793/TIE26.431D

SAŽETAK /ABSTRACT:

Modern engineering education requires bridging the gap between technical skills and financial literacy to make effective business decisions. In this regard, improvement of university engineering curricula must integrate economic knowledge and technological progress, thereby generating multiple positive externalities. This paper investigates the level of financial literacy among engineering students in the Republic of Serbia. The research was conducted through an online questionnaire on a sample of 162 students, using the standardized „Big Three“ concept to evaluate financial knowledge through numeracy, inflation and risk diversification. The results show a high basic level of literacy (average score 5.2 out of 6), with students having the best understanding of basic numeracy (82.7%) and inflation (80.2%), while the biggest deficit was observed in risk diversification (54.9%). Statistical analysis confirmed the hypothesis that male students show a higher level of financial literacy compared to their female colleagues (H3). However, the hypotheses about the existence of significant differences between first- and fourth-year students (H1), as well as between students who attended an economics course during their studies (H2), were rejected. The study emphasizes the importance of financial education for engineers, who need specific economic competencies in addition to technical knowledge. 

KLJUČNE REČI / KEYWORDS: 

engineering-economic approach; financial literacy; „Big Three“ concept; higher education; engineers

PROJEKAT / ACKNOWLEDGEMENT:

The authors would like to express their gratitude to the Ministry of Science, Technological Development and Innovation of the Republic of Serbia for its financial support in the realization of this research, based on Contract No. 451-03-34/2026-03/200132, concluded between the Faculty of Technical Sciences in Čačak and the aforementioned Ministry; Contract No. 451-03-33/2026-03/ 200109, concluded between the Faculty of Mechanical Engineering University of Nis and aforementioned Ministry; and Contract No. 451-03-34/2026-03/200102, concluded between the Faculty of Electronic Engineering University of Nis and the Ministry of Science, Technological Development and Innovation of the Republic of Serbia.

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