Abstract
This study seeks to understand the impact of financial literacy and career information on the job application behaviors and wage expectations of economically disadvantaged youth in India. By randomizing participants into two treatment groups—one receiving a financial budgeting game intervention and the other career information—and a control group with no intervention, we aim to explore how different forms of educational engagement influence young people's decisions in the job market. An additional layer of analysis examines the role of siblings in the social learning process, particularly how the experiences and insights of older siblings within a close age range might affect the career aspirations and financial understanding of the younger participants.
The financial budgeting game is designed to simulate real-life financial decision-making scenarios, enhancing participants' understanding of budget management, savings, and investment in the context of career planning. The career information intervention provides detailed insights into various career paths, including required qualifications, expected earnings, and job market demand. Our hypothesis is that these interventions, will not only improve participants' financial literacy and knowledge of career options but also lead to more informed and realistic wage expectations and job application choices.
This project contributes to our understanding of how targeted educational interventions can shape the economic behaviors and expectations of youth, offering valuable insights for policymakers, educators, and development practitioners aiming to enhance youth employment and economic empowerment in India. By integrating financial literacy, career information dissemination, and the influence of familial networks, we hope to provide a comprehensive look at the multifaceted determinants of labor market engagement among economically disadvantaged youths.