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Applying Insights from Behavioral Finance and Learning Theory in Designing a Financial Education Serious Game for Secondary School Students

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Game-based Learning Across the Disciplines

Part of the book series: Advances in Game-Based Learning ((AGBL))

Abstract

Financial literacy, the ability to handle money and financial matters, is considered a twenty-first-century skill. However, traditional financial education programs show insufficient success in promoting financial literacy, as they neglect financial decisions in particular. Serious games are a promising way to meet these challenges. This chapter describes the development of a serious game that aims to promote short-term financial decisions. To simulate real financial decisions, insights from behavioral finance, theories of learning and motivation, and game design were merged. This chapter will discuss why these theories are suitable for financial education and the extent to which these theories were taken into account in the development of the financial education serious game. The final game is presented, and the theories considered in the game are discussed.

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Authors and Affiliations

  1. University of Mannheim, Mannheim, Germany

    Julia Schultheis & Carmela Aprea

Authors
  1. Julia Schultheis
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  2. Carmela Aprea
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Correspondence to Julia Schultheis .

Editor information

Editors and Affiliations

  1. Economic and Business Education – Instructional Design and Evaluation, University of Mannheim, Mannheim, Baden-Württemberg, Germany

    Carmela Aprea

  2. UNESCO Deputy Chair of Data Science in Higher Education Learning and Teaching, Curtin University, University of Mannheim, Economic and Business Education – Learning, Design and Technology, Mannheim Baden-Württemberg Germany, Perth, WA, Australia

    Dirk Ifenthaler

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Schultheis, J., Aprea, C. (2021). Applying Insights from Behavioral Finance and Learning Theory in Designing a Financial Education Serious Game for Secondary School Students. In: Aprea, C., Ifenthaler, D. (eds) Game-based Learning Across the Disciplines. Advances in Game-Based Learning. Springer, Cham. https://doi.org/10.1007/978-3-030-75142-5_1

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  • DOI: https://doi.org/10.1007/978-3-030-75142-5_1

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  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-030-75141-8

  • Online ISBN: 978-3-030-75142-5

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