LITERATURE REVIEW ON THE USE OF MEDIA IN FINANCIAL EDUCATION
FOM University of Applied Sciences (GERMANY)
About this paper:
Conference name: 12th International Conference on Education and New Learning Technologies
Dates: 6-7 July, 2020
Location: Online Conference
Abstract:Learners have the choice between several formats and tools for personal and professional learning. Learning is actual situated, collaborative, game-based, inquiry-based, informal, and personalised. At the same time, learners changed in the last years. They do not stop learning after school or university. Learning is continued in the job and extra-professionally. It is often informal and has no link to an education institution.
Learners in the field of finance have changed their demands due to learning, too. Finance was very theoretical in the past. Learners ask for more practical value now. The mathematical, statistical, accounting, and economic issues have to be related to current economic developments. For example, sustainability or crypto currencies are topics that should be discussed in classes besides theories like the capital asset pricing model.
The study is a discussion-based literature review where previous work on the topic is thoroughly analysed and critically evaluated. Therefore, studies dealing with the education of finance and studies dealing with the use of specific media were examined. Finally, the contents were put together to get suggestions to improve the teaching of finance.
Media diversity supports to become motivated. If an instructor uses different media in his teaching the learners are more motivated to learn. The use of traditional and computer games enhances the interaction in the group of learners. Gamification facilitates the motivation additionally.
Learning with real data from the stock exchange or in stock exchange simulations is learning in a semi-virtual reality for finance learners. Current economic content can additionally be placed in audiovisual media. Podcasts can be used to deepen contents from lectures or to refer to recent happenings in economy, politics, or society with a relation to the teaching.
Keywords: Learning, teaching, finance, media, digital.