Economic Knowledge and Financial Management Practices: Self-Efficacy and AI-Supported Learning Engagement
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Abstract
Economic knowledge is widely regarded as a foundation for responsible financial behaviour, yet conceptual understanding does not necessarily translate into routine financial practice. This study examined whether economic concept knowledge was associated with everyday financial management practices among 312 undergraduate students in an AI-supported learning context, while evaluating financial self-efficacy as an indirect pathway and AI-supported learning engagement as a boundary condition. A quantitative predictive-correlational design was analysed using multiple regression, percentile-bootstrap indirect-effect estimation, and interaction analysis. Economic concept knowledge was positively associated with financial management practices (β = .435, p < .001), with the baseline model explaining 19.1% of outcome variance. A positive indirect association through financial self-efficacy was supported (indirect β = .115, 95% CI [.069, .172]), while the direct knowledge association remained significant. AI-supported learning engagement modestly strengthened the knowledge-practice association (β = .094, p = .047), and the final model explained 29.0% of variance. The findings are consistent with an account in which conceptual knowledge is more likely to be reflected in everyday practice when learners also report confidence to act and engage with AI-supported learning in an active, evaluative manner. The results motivate further longitudinal and experimental testing of financial-learning designs that combine conceptual reasoning, self-efficacy, and accountable AI use.
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