The educator understands the benefits of active learning and chooses or creates a simulation to engage students in real-world financial decisions in order to communicate the importance of budgeting.
Simulations are educational tools that replicate real-world situations in a controlled setting in which students are faced with decisions and their consequences in order to develop knowledge or skill sets.
(Adapted from Zapalska, Brozik & Rudd, 2012)
Budgeting is an important financial skill, but is one that is largely unpracticed by teenagers. While over 50% of teens report that they spend their own money, only 17% claim they maintain a budget (“Teens and Personal Finance”). Simulations provide students an opportunity to learn about budgeting and experience elements of the “real world” within the safety and comfort of a classroom. The most effective simulations maintain a high degree of fidelity and exclude elements that would be distracting in a real-world situation (Lunce, 2006). In addition, a large percentage of students view educational games favorably, stating that they believe simulation games can help them better develop their knowledge and skills of class content (Wardaszko & Jakubowski, 2013). It is important to understand that while simulations are enjoyable for students and educators, the most crucial part of implementing a simulation or game is the reflection period after completion, when students can review the lessons learned (Zapalska, Brozik & Rudd, 2012).
The items in this following section detail what must be submitted for evaluation. To earn the micro-credential, you must receive a passing evaluation for Parts 1 and 3, and a “Yes” for both artifacts submitted for Part 2.
Submit the materials for the simulation (or hyperlink if digital) and a written rationale (maximum of 200 words) that explains why it was chosen.
Also submit at least two samples of students’ written responses to the reflection questions. If a full-class discussion was used for this portion, submit a video of the discussion.
Provide a reflection on what you learned, using the following questions as guidance (300-word limit):
Please answer a brief survey about your experience teaching personal finance. Your responses will:
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