The Role Of Economics and Enterpreneurship Education On Students' Financial Behavior: A Systematic Literature Review

Nuryamin Budi; Vina Mustika Sidiq; Muhammad Ilyas Hamzah; Wa Ode Sitti Liliyani; Syarifah Ni’mah; Intan Nadya Shafwah

doi:10.62794/je3s.v7i2.151

Authors

Nuryamin Budi Universitas Halu Oleo, Indonesia
Vina Mustika Sidiq Universitas Halu Oleo, Indonesia
Muhammad Ilyas Hamzah Universitas Halu Oleo, Indonesia
Wa Ode Sitti Liliyani Universitas Halu Oleo, Indonesia
Syarifah Ni’mah Universitas Halu Oleo, Indonesia
Intan Nadya Shafwah Universitas Halu Oleo, Indonesia

DOI:

https://doi.org/10.62794/je3s.v7i2.151

Keywords:

behavioral biases, economics education, entrepreneurship education, financial behavior, financial literacy

Abstract

This study aims to synthesize recent empirical evidence on the role of economics, entrepreneurship, and financial education in shaping students’ financial behavior, with particular attention to psychological mechanisms and behavioral biases. A systematic literature review was conducted using the PRISMA 2020 framework. Scopus-indexed empirical articles published between 2020 and 2025 were identified and screened according to explicit eligibility criteria. The synthesis focused on educational interventions, financial literacy, financial behavior, self-control, financial self-efficacy, overconfidence, and herding behavior. The review indicates that educational interventions can improve financial knowledge, but behavioral change is not always automatic. Financial behavior is more consistently strengthened when financial literacy is supported by self-control, self-efficacy, locus of control, and awareness of cognitive biases. Contextual factors such as gender, family background, peer influence, and digital environments also shape the effectiveness of education. The review is limited by its reliance on Scopus, the heterogeneity of included studies, and the dominance of cross-sectional designs. This study contributes by integrating economics and entrepreneurship education with behavioral finance mechanisms to explain the knowledge-action gap in students’ financial behavior.

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