An Empirical Study: Financial Literacy of Students of Law in the Czech Republic

Current complex financial markets demand from consumers of financial products at least a basic knowledge of financial concepts and conscious financial behaviour, therefore this paper focus on financial literacy which includes not only financial knowledge, but also financial behaviour and attitudes. As a target group the students of law was selected. The aim of this paper is to examine whether the law students, who are majoring in non-economic fields, are financially literate. The data was collected at the Faculty of Law at Masaryk University in autumn 2015. The analysis indicates positive results in favour of law students, however, further improvement in financial behaviour is required.