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Game-based Learning Across the DisciplinesDevelopment and Pilot Testing of a Financial Literacy Game for Young Adults: The Happy Life Game

Game-based Learning Across the Disciplines: Development and Pilot Testing of a Financial Literacy... [Surveys and tests have shown deficits in the financial literacy (or financial competence) of young adults. Often this cohort lacks financial knowledge and skills. While interventions can increase financial knowledge, they frequently do not produce sustainable long-term improvements of financial competence. For this reason, a financial literacy board game has been developed that links emotional, motivational, and cognitive processes to encourage the sustainable development of financial competence. The developmental objective was a holistic tool, in which financial competence, as well as the corresponding emotional-motivational facets of financial issues, plays a central role. The game is based on the competency model of financial literacy that takes into account decision-making. As a result, the game incorporates the relevant aspects of personal finance and their interrelationships as well as the necessary mathematical, personal, and social competencies that influence financial decision-making. The game also considers personal incentives for financial decisions based on the latest findings in the field of happiness research. This paper will present the theoretical foundations of serious games, how they have been implemented in this game, with a special focus on the game mechanics, as well as the results from the pilot testing phase of the game. In brief, the usability testing has shown that the game is perceived on one hand as fun, creating excitement and flow, while on the other hand, it generates interest in and leads to a discussion about the financial literacy topics.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

Game-based Learning Across the DisciplinesDevelopment and Pilot Testing of a Financial Literacy Game for Young Adults: The Happy Life Game

Part of the Advances in Game-Based Learning Book Series
Editors: Aprea, Carmela; Ifenthaler, Dirk
Pfändler, Andrea Maria
Game-based Learning Across the Disciplines — Aug 3, 2021
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References (111)

Publisher
Springer International Publishing
Copyright
© The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2021
ISBN
978-3-030-75141-8
Pages
61 –87
DOI
10.1007/978-3-030-75142-5_4
Publisher site
See Chapter on Publisher Site

Abstract

[Surveys and tests have shown deficits in the financial literacy (or financial competence) of young adults. Often this cohort lacks financial knowledge and skills. While interventions can increase financial knowledge, they frequently do not produce sustainable long-term improvements of financial competence. For this reason, a financial literacy board game has been developed that links emotional, motivational, and cognitive processes to encourage the sustainable development of financial competence. The developmental objective was a holistic tool, in which financial competence, as well as the corresponding emotional-motivational facets of financial issues, plays a central role. The game is based on the competency model of financial literacy that takes into account decision-making. As a result, the game incorporates the relevant aspects of personal finance and their interrelationships as well as the necessary mathematical, personal, and social competencies that influence financial decision-making. The game also considers personal incentives for financial decisions based on the latest findings in the field of happiness research. This paper will present the theoretical foundations of serious games, how they have been implemented in this game, with a special focus on the game mechanics, as well as the results from the pilot testing phase of the game. In brief, the usability testing has shown that the game is perceived on one hand as fun, creating excitement and flow, while on the other hand, it generates interest in and leads to a discussion about the financial literacy topics.]

Published: Aug 3, 2021

Keywords: Financial literacy; Game development; Financial competence; Decision-making competence; Usability testing; Flow

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