Major Differences in Financial Literacy among Albanian University Students

Abstract

This paper examines the differences in Financial Literacy among students majoring in business and non
business disciplines. The main objectives of this study are: i) firstly, to assess the level of financial knowledge, 
financial attitude and financial behaviour, as the main components of the financial literacy; ii) secondly, to 
evaluate an overall score of financial literacy based on the previous results; iii) thirdly, to investigate the 
differences in financial literacy between students majoring in business and those majoring in non-business 
academic disciplines, and iv) finally, to provide some conclusion and policy implication with regard to financial 
literacy. A total of 607 business and non-business students from five public and three private universities in 
Albania participated in this research. The outcome shows that student’s financial behaviour and attitude do not 
differ based on their academic discipline. In addition, business majors appear to be more knowledgeable and 
financially literate than their counterparts.