Financial literacy is not required for K-12 instruction, but it is an important real-world skill, especially amid today’s economic crisis. The President’s Advisory Council on Financial Literacy (founded January 2008) decided that it is the “policy of the Federal Government to encourage financial literacy among the American people.” In January 2009, the Council called for the United States Congress to mandate financial education for all K-12 students.
To improve financial literacy among students, online games are using simulations to appeal to today’s generation of gamers and provide easy integration in core curricula – a bonus since most teachers feel ill-equipped to teach financial literacy. The article below states “A game-based environment allows us to simulate these skills. [Students] can experiment for different outcomes, and they can, through trial and error, begin to develop those skills,” said Katherine Griffin, founder of Griffin Enterprises which created MoneyU, an online game that teaches financial concepts.
What can you as a parent do to promote financial literacy?
How can your child have a stake in their college financial planning now?
November 16, 2009
Games Evolve as Tools for Teaching Financial Literacy
Online simulations emphasize skill development.
By Katie Ash
Although a majority of states do not require financial-literacy classes in K-12 schools, the nation’s recent economic struggles have spurred growing interest in the subject by educators—many of whom are turning to digital-game-based approaches to teach students about personal finance and investing.
“We are pretty much teaching the same things we were teaching prior to the recession, but the biggest difference is the general public is more receptive to the message,” said Laura Levine, a member of the President’s Advisory Council on Financial Literacy and the executive director of the Jump$tart Coalition for Personal Financial Literacy, a Washington-based group of organizations that aims to improve financial literacy for students through research, advocacy, and educational resources.
Harnessing the power of digital environments might be an effective way to provide financial education to students, said Jack A. Naglieri, a professor of psychology at George Mason University, in Fairfax, Va., who has conducted research on the effectiveness of digital games for learning.
To view this entire article visit www.edweek.org