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Strategy of financial education in the Czech Republic and its implementation
Kuncová, Tereza ; Derner, Tomáš (advisor) ; Coufal, Libor (referee)
This bachelor thesis describes financial literacy in the Czech Republic. The thesis should provide to readers comprehensive summary about level of financial education in the Czech Republic and should illustrate importance of this education for the whole society. Big part of this work is devoted to the most important documents approved by the Czech government which are intended to improve level of financial literacy of Czech citizens. These documents also exactly determine the term of financial literacy. Further the work deals with completed researches in this area and the content is enriched by own research focused on financial literacy development of secondary school pupils. One of the main goals of the thesis is to find available possibilities of financial education both for schools and for adults. Additionally the thesis presents survey of publications and other study materials available to this topic on the Czech market.
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Regulation of Financial Advisory in the Czech Republic
Klofáč, Michal ; Kříž, Radim (advisor) ; Hásová, Jiřina (referee)
Consulting one's personal finance with a financial advisor should allow even the less financially educated to optimize their financial portfolio. The client-advisor relationship is however a strong case of information asymmetry, which can result in harm being made to the client by the advisor, either knowingly (when the advisor attempts to maximize their own utility, even at the client's cost) or unknowingly (e.g. when the advisor is inadequately qualified in the field). One of the ways to reduce such risks is a proper regulatory framework, which is the core subject of the thesis. At first, the thesis analyzes the current state of financial advisory in the Czech Republic (how it is performed, what part of the population benefits from it, what the main problems are etc.) and shows how the client-advisor interaction ought to be performed. The main part of the thesis describes what the main problems and risks for the client are and which legal measures exist that can reduce these negative effects. The current legal framework in the Czech Republic is then thoroughly analyzed and compared with best-practice of select EU states. Finally, legal measures which are currently being discussed or passed as laws are mentioned. In the very end, other measures which could help make the field of financial advisory in the Czech Republic more efficient are suggested. The aim of the thesis is to provide a compact overview of the regulatory measures currently affecting financial advisory in the Czech Republic, show them in the international context and test the hypothesis that the Czech market of financial advisory is still relatively immature and that further appropriate regulation would improve its effectiveness resulting in higher protection of clients.
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Financial Education in Primary Schools
Trefancová, Dana ; Krbová, Jana (advisor) ; Nový, Jan (referee)
The subject of the thesis is to analyze the "Financial literacy in elementary schools", focused on the second stage of elementary school, 6th -- 9th class of Klatovy. Theoretical and methodological part of the thesis describes financial literacy, its allocation to cash, cost and budget literacy. Furthermore, it gives the demographic, political and economic reasons for the implementation of financial education and the social and psychological aspects of human behavior in relation to financial literacy. The application part is focused on the comparison of curricula for elementary schools, which have the second stage of Klatovy. This part will be followed by a survey, which is the basic framework of the application part. There are three defined hypotheses, which are confirmed by the conclusions of this section. The questionnaire survey helped to show the real state of financial education at district of Klatovy.
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Financial Literacy in the Czech Republic
Volánková, Kateřina ; Votava, Libor (advisor) ; Zavadilová, Jana (referee)
The aim of my thesis is to outline the current situation of the issue of financial literacy of the population in the Czech Republic. It pays attention to the theoretical aspects of financial literacy from many angles. The practical part is focused on the possible consequences of financial illiteracy and their consequent effects on individuals. The outcome of my work is the proposal how to use the basic tools of the state to achieve financial literacy.
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Economic and social aspects of overindebtedness of households in Czech Republic after 2000
Švec, František ; Jílek, Josef (advisor) ; Řežábek, Pavel (referee)
The thesis deals with the issue of excessive debt of households. In the first part the analysis of development of indebtedness of households was made and it was found out, that consumer loans are the most risky. Consumer loans are associated with the highest ratio of defaulting loans and are the leading cause of bankruptcies of individuals in the Czech Republic. The following chapter analyzes institutional environment of credit market and detects current weaknesses. These weaknesses consist in insufficient oversight of nonbank provider of consumer loans, absence of upper limit of annual percentage rate for consumer credit and credit availability to risk groups of households. Another cause of overindebtedness of households is insufficient financial literacy in Czech Republic. The reduced consumption has been identified as the most significant impact of overindebtedness of households. It is caused by transferring funds from households with a higher propensity to consume to households with a lower propensity to consume. Lower household consumption leads also to lower government revenue collected through the value added tax. Another economic impact we can see for example in increasing poverty of households, increasing criminality, higher government spending on health care or potential political radicalization. The thesis results are proposals of legislative measures that would mitigate the economic impact of overindebtedness of households. These measures lie primarily in the regulation of consumer credit market and greater consumer protection. The specific options are an extension of supervision by the Czech National Bank on nonbank providers of consumer loans, determining the upper limit of annual percentage rate, more thorough application of the legal obligation to examine the ability of borrowers to repay loans. Another option is to reduce the limit of 30 % of paid-up commitments in insolvency law.
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Finanční gramotnost žáků víceletého gymnázia
Nováková, Kateřina ; Votava, Libor (advisor)
The diploma thesis "Financial literacy of pupils at grammar school" deals with the attitudes of students to the issue of financial literacy and the level of their knowledge. It focuses on individual components of financial literacy and key factors which influence and shape the students' knowledge and attitudes. Comparing available literature sources the definition of financial literacy is discussed in the theoretical part. The theoretical part also includes the way financial education is regulated in the Czech Republic. The practical part using a descriptive statistical analysis presents results received from the questionnaire distributed among pupils of the grammar school. Based on the results four hypotheses were set and their validity is tested. The evaluation and discussion parts are incorporated in the work.
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An Analysis of Family Finances of Selected Employees and the Way out of Debt
Kratochvílová, Pavla ; Smrčka, Luboš (advisor) ; Strouhal, Jiří (referee)
The present diploma thesis deals with the indebtedness of employees of a selected company and the ways to help these employees. The main aim of the thesis is to analyze the present situation of the respective company in terms of foreclosure of its employees and, based on this, to propose possible solutions which might help to improve the financial situations of these employees. The sub-aim of the thesis is to define the reasons for indebtedness as well as to assess the level of financial literacy of selected employees. The thesis is divided into two parts: a theoretical and an analytical one. The thesis uses the following research methods: analysis, semi-structured interview, written questionnaire and secondary document analysis.
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Household debt in the Czech Republic
Ullrychová, Jana ; Smrčka, Luboš (advisor) ; Strouhal, Jiří (referee)
The Master's thesis deals with the indebtedness of Czech households. The thesis is divided into theoretical and analytical-practical part. The theoretical part deals with the home economic activities and lending. In the analytical-practical part the author describes the evolution and structure of loans provided to households between 1993 and 2014. The debt ratio is appraisaled in relation to bank deposits, net disposable household income, GDP, national debt and compared with households in the EU. In final the author runs to the conclusion that the current level of debt of households is not any problem for the economics and that there is not any danger of the rapid growth of indebtedness nowadays. Ability to repay debts is not too high as evidenced by the increasing number of executions and personal bankruptcies. The cause of difficulties is the low financial literacy of citizens and irresponsible approach to lending for both the creditor and debtor side.
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