Abstract:

Arousing the learner’s curiosity and sustaining the interest in learning is a challenge that the 21st century teacher face when designing instructional programmes enriched with the use of ICT (information and communication technologies). To enhance the effectiveness of learning and to evaluate the learning process, harnessing ICT has its benefits. Concept-based games or serious games offers the opportunity to incorporate and contextualized game play to provide an authentic environment for learning. Real-life experiences provide invaluable experience to reinforce learning but such opportunities are not always available and if so, may be too expensive or painful a lesson in life. An alternative is found in simulation games which offer an exciting solution to mirror such authentic scenarios for learning to take place. In recent years, a wide range of commercial simulation games targeted at children have been launched and some do feature high fidelity interactive simulations based upon real-life business principles and practices. In the wake of the recent events in the financial industry, the need to equip our children with this important life skill has taken out from the back burner. Studies consistently demonstrate that many people lack even the basic financial skills needed to provide security for themselves and their families and thrive in today’s fast-paced global financial services environment. This paper investigates the use of simulation games as an evidence-based model of using games as a pedagogical tool.

Keywords:

financial literacy, games, engaging pedagogy, simulation