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Using Games and Cooperative Team Play to Teach Economics and Personal Finance
Using Games and Cooperative Team Play to Teach Economics and Personal Finance
Using Games and Cooperative Team Play to Teach Economics and Personal Finance
Using Games and Cooperative Team Play to Teach Economics and Personal Finance
Using Games and Cooperative Team Play to Teach Economics and Personal Finance
Using Games and Cooperative Team Play to Teach Economics and Personal Finance
Using Games and Cooperative Team Play to Teach Economics and Personal Finance
Using Games and Cooperative Team Play to Teach Economics and Personal Finance
Using Games and Cooperative Team Play to Teach Economics and Personal Finance
Using Games and Cooperative Team Play to Teach Economics and Personal Finance
Using Games and Cooperative Team Play to Teach Economics and Personal Finance
Using Games and Cooperative Team Play to Teach Economics and Personal Finance
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Using Games and Cooperative Team Play to Teach Economics and Personal Finance

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According to a 2008 Pew survey, 97% of kids play videogames. And by the age of 21, the average person has spent more than 10,000 hours playing videogames! Surprisingly, these games are often social, …

According to a 2008 Pew survey, 97% of kids play videogames. And by the age of 21, the average person has spent more than 10,000 hours playing videogames! Surprisingly, these games are often social, requiring both collaboration and competition to win. What does all this mean? It means that the next generation of learners/workers are virtuoso videogamers. They have grown up playing videogames and have never lived in a world without computers, cell phones and digital media. This generation needs another way to learn! The solution? Play To Teach!

In this presentation you will see how the Council for Economic Education is using games and cooperative team play to teach middle and high school students about economics and personal finance

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  • Using Games and Cooperative Team Play to Teach Economics and Personal Finance Jack McGrath, President and Creative Director, Digitec Interactive Christopher Caltabiano, Vice President for Program Administration, Council for Economic Education
  • Need For Experiential Learning According to The Pew Research Center’s Internet & American Life project 2008 report, 97% of youth ages 12-17 play some kind of video game. Game playing is universal, with almost all teens playing games and at least 50% play video games everyday. Male teens are said to play for an average of 1 hour and 54 minutes every day according to Jack Myers 2007 Media Business Report. Question to the audience: Why are games so popular? How can we co-op these features into a learning experience within the classroom?
  • Session Objectives Establish the need for financial education Introduce Gen i Revolution Review game features & benefits for education Discuss game design & development process Reveal research study findings
  • Need For Financial Education Personal savings reached nearly 0% in recent years.
  • Need For Financial Education According to Adotas Advetising, teen spending reached $205 billion in the U.S. in 2008. That is more than the entire country of Mexico’s yearly exports, which is only $175 million. When authors of the Family and Consumer Sciences Research Journal set-out to determine what teens do with the money they receive either as income, allowances or gifts they were shocked to learn that young people in America spend 98% of their money. Even more shocking, college students entering their freshman year are offered an average of 8 credit cards within their first week on campus. Most students will hold on to 3 of those cards throughout college, racking up an average of $8,000 in credit card debit before they graduate.
  • Gen i Revolution Role-Play Game Play Monique’s monologue Quick review of missions: Mission 1 - Building Wealth Over the Long Term Mission 2 - Investing in Human Capital: Job Choice Mission 3 - Investing in Human Capital: Education Mission 4 – Budgeting Mission 5 – Credit Mission 6 - Risk and Return Mission 7 - Alternative Financial Institutions Mission 8 - Stocks Mission 9 – Bonds Mission 10 - Mutual Funds Mission 11 - Researching Companies Mission 12 - Stock Market Fundamentals Mission 13 - Stock Market Crashes Mission 14 - Forecasting the Future Mission 15 - Financial Planning Mention the various assets: (will talk in detail about the game itself last); Public website; Teacher admin page; Managing classes/teams/students Reporting Teacher Guide Teacher guide Mission overview Format and order of mission play Strategies for using game Scoring Using operatives Managing classes/teams Hints from testing Now on to the game. Note the decisions around linear vs. exploratory; simulation vs. not; in-class vs. out of class; aimed with teachers in mind vs. purely a student-direct delivery Show specific features within the game. Role play strategy and lack of proscribed mission order Episodic – show mission map Behavioral change – discuss “mission profile” Completing/tailoring missions – show a sample mission with steps 4-11 – access to tutorials/resources
  • Design & Development Process Focus groups Identification on project team (Digitec, subject matter experts) Integration with curriculum Game Design Document Prototype Full scale development process testing and user feedback every step of the way Pilot testing Creation of supporting resources, including Teacher’s Guide, informed by the pilot test
  • What We Did: Looked for changes in knowledge, comfort and attitudes about basic personal finance Teachers agreed to have both a test group and a control group, with the make-up of those two classes as close as possible. Students had to play at least ten missions.
  • What We Found: Expectation was that students in both groups would improve pre-test to post-test since our subjects were all taking econ or personal finance classes; those exposed to the game had measurably better results in knowledge, comfort and attitude
  • What We Heard: Kids like to compete against each other Teachers like the flexibility It takes some time to get a grasp of Gen i is cool It takes a bit of getting used to at first Some of it is hard to manipulate Some missions too easy, some too hard
  • What We Learned: Classroom accessibility: firewalls, etc. Teachers need to treat it like any other resources, they need to get to know it themselves before taking t into the classroom Process: don’t forget about the supporting materials Economics and personal finance can be fun
  • Join The Revolution: Visit Join the Revolution page. Select “Teacher” and click “Continue” Fill out the information form Check your email Click the activation link
  • Transcript

    • 1. Using Games and Cooperative Team Play to Teach Economics and Personal Finance Jack McGrath President and Creative Director Digitec Interactive Christopher Caltabiano Vice President for Program Administration Council for Economic Education November 4, 2010
    • 2. Need For Experiential Learning 97% of kids play video games¹ ¹The Pew Research Center's Internet & American Life Project, 2008 Why are games so popular? Male teens spend nearly 2 hours per day playing video games² ²Jack Myers Media Business Report, 2007
    • 3. Session Objectives 1) Establish the need for financial education 2) Introduce Gen i Revolution 3) Review game features & benefits for education 4) Discuss game design & development process 5) Reveal research study findings
    • 4. Need For Financial Education
    • 5. Need For Financial Education Teens spend $205 billion per year in the U.S.¹ That is more than Mexico’s yearly exports! Young people spend 98% of money they receive.² Teens are offered an average of 8 credit cards during their first week ok college.³ Most continue to carry three of them throughout college. ¹Adotas Advertising, 2008 ²Family and Consumer Sciences Research Journal, 2010 ³Jump$tart Coalition for Personal Financial Literacy, Annual Summary, 2009
    • 6. Gen i Revolution Role-Play Game
    • 7. Design & Development Process 1) Focus groups 2) Game Design Document 3) Integration with curriculum 5) Full scale development process 6) Pilot test and creation of supporting resources 4) Game design document
    • 8. What We Did: Pre- and post-test design, with control group 35-question test about personal finance and economics 555 High school students from diverse U.S. states
    • 9. Generally positive and statistically significant effects on learning Positive results on both comfort and attitude about personal finance Gains made by students that were exposed to the game exceeded those in the control group What We Found:
    • 10. What We Heard: Kids like to compete against each other Teachers like the flexibility Gen i is cool It takes a bit of getting used to at first Some of it is hard to manipulate Some missions too easy, some too hard
    • 11. What We Learned: Classroom accessibility: firewalls, etc. Teachers need to take the time to get to know it Process: don’t forget about the supporting materials Economics and personal finance can be fun
    • 12. Join The Revolution www.genirevolution.org Share Gen i with your school 1) Select “Teacher” and click “Continue” 2) Fill out the information form 3) Check your email Visit Join the Revolution page. 4) Click the activation link

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