Are We Truly Preparing Students for Financial Success? Insights from Economic Education Curricula in Indonesia

Abstract

Background Financial literacy is an essential competency for university students, especially those in economics education programs, as it supports effective money management and responsible decision-making. However, higher education curricula in Indonesia still emphasize theoretical aspects over practical financial skills, raising concerns about whether graduates are adequately prepared for financial challenges. Methods This study employed a qualitative content analysis to evaluate the integration of financial literacy within economics education curricula in Indonesia. Data were collected through curriculum document reviews, semi-structured interviews with economics educators, and student surveys. The analysis focused on identifying the extent of financial literacy integration and perceptions of curriculum effectiveness. Results The findings indicate that while fundamental topics such as budgeting and savings are covered, critical elements including investment diversification, risk management, and digital financial tools remain underdeveloped. Students expressed a strong demand for more experiential learning approaches, such as case studies, financial simulations, and collaboration with industry partners. The results highlight a gap between theoretical instruction and the practical competencies required for effective financial decision-making. Conclusions The study concludes that strengthening economics education curricula requires the integration of applied financial literacy training, digital financial education, and industry collaboration to better prepare students for personal and professional financial challenges. While this research provides valuable insights, its qualitative scope presents limitations. Future studies with broader institutional coverage and quantitative approaches are recommended to generate more generalizable findings.