Gamification in Enhancing Student Financial Knowledge, Engagement, and Enjoyment in Financial Education
DOI:
https://doi.org/10.33394/jk.v10i3.12653Keywords:
Gamification, Financial Knowledge, Student Engagement, Student Enjoyment, Financial Education.Abstract
This study aims to examine the impact of gamification on financial knowledge through student enjoyment and student engagement. This study employed a quantitative approach and used a survey to examine the relationships between variables. The sampling technique used was purposive sampling, with 289 students who have previously received financial education at a public university participating as respondents. The research instrument utilized a questionnaire developed based on prior studies. The results were tested using Variational Bayesian Structural Equation Modeling (VB-SEM) to analyze the influence between variables. The findings showed that gamification had a positive impact on student enjoyment and student engagement. This study demonstrates that gamification does not directly influence students' financial knowledge. Student engagement fully mediated the effect of gamification on students' financial knowledge, whereas enjoyment does not affect students' financial knowledge. This study underscores the importance of fostering student engagement in gamification to enhance financial knowledge. The implications of this research include strengthening student engagement through various strategies, such as apperception, motivation, and interaction during the use of gamification in financial education.
References
Alsawaier, R. S. (2018). The effect of gamification on motivation and engagement. In International Journal of Information and Learning Technology (Vol. 35, Issue 1). https://doi.org/10.1108/IJILT-02-2017-0009
Ariff, M. I. M., Khalil, F. M., Rahman, R. A., Masrom, S., & Arshad, N. I. (2022). Developing mobile game application for introduction to financial accounting. Indonesian Journal of Electrical Engineering and Computer Science, 27(3). https://doi.org/10.11591/ijeecs.v27.i3.pp1721-1728
Bai, S., Hew, K. F., & Huang, B. (2020). Does gamification improve student learning outcome? Evidence from a meta-analysis and synthesis of qualitative data in educational contexts. In Educational Research Review (Vol. 30). https://doi.org/10.1016/j.edurev.2020.100322
Bayuk, J., & Altobello, S. A. (2019). Can gamification improve financial behavior? The moderating role of app expertise. International Journal of Bank Marketing, 37(4). https://doi.org/10.1108/IJBM-04-2018-0086
Bilro, R. G., Loureiro, S. M. C., & Angelino, F. J. de A. (2021). The Role of Creative Communications and Gamification in Student Engagement in Higher Education: A Sentiment Analysis Approach. Journal of Creative Communications, 17(1). https://doi.org/10.1177/0973258621992644
Buckley, P., & Doyle, E. (2016). Gamification and student motivation. Interactive Learning Environments, 24(6). https://doi.org/10.1080/10494820.2014.964263
Chen, J., & Liang, M. (2022). Play hard, study hard? The influence of gamification on students’ study engagement. Frontiers in Psychology, 13. https://doi.org/10.3389/fpsyg.2022.994700
De Freitas, S., Irving, L., Verbert, K., Gibson, D., Star, K., Alvarez, V., & Charleer, S. (2017). How to use gamified dashboards and learning analytics for providing immediate student feedback and performance tracking in higher education. 26th International World Wide Web Conference 2017, WWW 2017 Companion. https://doi.org/10.1145/3041021.3054175
DuBravac, S. (2012). Game mechanics for classroom engagement. Cutting-Edge Technologies in Higher Education, 6(PARTC). https://doi.org/10.1108/S2044-9968(2012)000006C006
Feng, X. N., Wang, Y., Lu, B., & Song, X. Y. (2017). Bayesian regularized quantile structural equation models. Journal of Multivariate Analysis, 154. https://doi.org/10.1016/j.jmva.2016.11.002
Feroz, H. M. B., Zulfiqar, S., Noor, S., & Huo, C. (2022). Examining multiple engagements and their impact on students’ knowledge acquisition: the moderating role of information overload. Journal of Applied Research in Higher Education, 14(1). https://doi.org/10.1108/JARHE-11-2020-0422
Fitria, T. N. (2023). The impact of gamification on students’ motivation: A Systematic Literature Review. LingTera, 9(2). https://doi.org/10.21831/lt.v9i2.56616
Fortuna, J. M., de la Fuente, G., & Velasco, P. (2023). Does gamification mediate the relationship between digital social capital and student Performance? A survey-based study in Spain. International Journal of Management Education, 21(3). https://doi.org/10.1016/j.ijme.2023.100846
GarcÃa-López, I. M., Acosta-Gonzaga, E., & Ruiz-Ledesma, E. F. (2023). Investigating the Impact of Gamification on Student Motivation, Engagement, and Performance. Education Sciences, 13(8). https://doi.org/10.3390/educsci13080813
Hanus, M. D., & Cruz, C. (2015). Leveling up the classroom: A theoretical approach to education gamification. In Emerging Research and Trends in Gamification. https://doi.org/10.4018/978-1-4666-8651-9.ch009
Hartt, M., Hosseini, H., & Mostafapour, M. (2020). Game On: Exploring the Effectiveness of Game-based Learning. Planning Practice and Research, 35(5). https://doi.org/10.1080/02697459.2020.1778859
Hu, R., & Shang, J. (2018). Application of Gamification to Blended Learning in Elementary Math Instructional Design. Lecture Notes in Computer Science (Including Subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics), 10949 LNCS. https://doi.org/10.1007/978-3-319-94505-7_7
Lin, J. (2022). The effects of gamification instruction on the roles of perceived ease of learning, enjoyment, and useful knowledge toward learning attitude. TOJET: The Turkish Online Journal of Educational Technology, 21(2).
Linciano, N. (2021). Enhancing financial knowledge and risk literacy through edutainment: CONSOB’s experience. In Financial Education and Risk Literacy. https://doi.org/10.4337/9781789908855.00016
Mosalanejad, L., & Mansouri, E. (2023). Development of gamification as addiction education and examining its effects on students’ motivation and enjoyment. Bangladesh Journal of Medical Science, 22(3). https://doi.org/10.3329/bjms.v22i3.65325
Nguyen-Viet, B., & Nguyen-Viet, B. (2023). Enhancing satisfaction among Vietnamese students through gamification: The mediating role of engagement and learning effectiveness. Cogent Education, 10(2). https://doi.org/10.1080/2331186X.2023.2265276
Oliveira, W., Hamari, J., Joaquim, S., Toda, A. M., Palomino, P. T., Vassileva, J., & Isotani, S. (2022). The effects of personalized gamification on students’ flow experience, motivation, and enjoyment. Smart Learning Environments, 9(1). https://doi.org/10.1186/s40561-022-00194-x
Oribhabor, C. B., & Anyanwu, C. A. (2020). Research Sampling and Sample Size Determination: A practical Application. Journal of Educational Research (Fudjer), 2(1).
Prawiyogi, A. G., Aini, Q., Santoso, N. P. L., Lutfiani, N., & Juniar, H. L. J. (2021). Blockchain Education Concept 4.0: Student-Centered iLearning Blockchain Framework. JTP - Jurnal Teknologi Pendidikan, 23(2). https://doi.org/10.21009/jtp.v23i2.20978
Prior, D. D., Mazanov, J., Meacheam, D., Heaslip, G., & Hanson, J. (2016). Attitude, digital literacy and self efficacy: Flow-on effects for online learning behavior. Internet and Higher Education. https://doi.org/10.1016/j.iheduc.2016.01.001
RodrÃguez, M., DÃaz, I., Gonzalez, E. J., & González-Miquel, M. (2018). Motivational active learning: An integrated approach to teaching and learning process control. Education for Chemical Engineers, 24. https://doi.org/10.1016/j.ece.2018.06.003
Singer, J. D. (2019). Reshaping the Arc of Quantitative Educational Research: It’s Time to Broaden Our Paradigm. Journal of Research on Educational Effectiveness, 12(4). https://doi.org/10.1080/19345747.2019.1658835
StrmeÄki, D., Bernik, A., & RadoÅ¡ević, D. (2015). Gamification in e-learning: Introducing gamified design elements into e-learning systems. Journal of Computer Science, 11(12). https://doi.org/10.3844/jcssp.2015.1108.1117
van der Heide, A., & Želinský, D. (2021). ‘Level up your money game’: an analysis of gamification discourse in financial services. Journal of Cultural Economy, 14(6). https://doi.org/10.1080/17530350.2021.1882537
Wang, F., Wang, Y., & Hu, X. (2017). Gamification Teaching Reform for Higher Vocational Education in China: A case study on Layout and Management of Distribution Center. International Journal of Emerging Technologies in Learning (IJET), 12(09). https://doi.org/10.3991/ijet.v12i09.7493
Wirani, Y., Nabarian, T., & Romadhon, M. S. (2021). Evaluation of continued use on Kahoot! As a gamification-based learning platform from the perspective of Indonesia students. Procedia Computer Science, 197. https://doi.org/10.1016/j.procs.2021.12.172
Yau, P. C. Y., & Wong, D. (2022). Powering Financial Literacy Through Blockchain and Gamification: How Digital Transformation Impacts Fintech Education. Lecture Notes in Networks and Systems, 358 LNNS. https://doi.org/10.1007/978-3-030-89906-6_63
Yulianto, A., & Wijaya, A. P. (2022). Peningkatan Literasi Keuangan Melalui Metode Stimulus-Respon. Journal of Community Empowerment, 2(2). https://doi.org/10.15294/jce.v2i2.59615
Zainuddin, Z., Chu, S. K. W., Shujahat, M., & Perera, C. J. (2020). The impact of gamification on learning and instruction: A systematic review of empirical evidence. Educational Research Review, 30. https://doi.org/10.1016/j.edurev.2020.100326
Downloads
Additional Files
Published
How to Cite
Issue
Section
Citation Check
License
License and Publishing AgreementIn submitting the manuscript to the journal, the authors certify that:
- They are authorized by their co-authors to enter into these arrangements.
- The work described has not been formally published before, except in the form of an abstract or as part of a published lecture, review, thesis, or overlay journal.
- That it is not under consideration for publication elsewhere,
- That its publication has been approved by all the author(s) and by the responsible authorities – tacitly or explicitly – of the institutes where the work has been carried out.
- They secure the right to reproduce any material that has already been published or copyrighted elsewhere.
- They agree to the following license and publishing agreement.
Authors who publish with JK agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License (CC BY-SA 4.0) that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal.Â
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work.
- Open Data Commons Attribution License, http://www.opendatacommons.org/licenses/by/1.0/ (default)
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.