Designing Computer Games to Teach Finance and Technical Concepts in an Online Learning Context: Potential and Effectiveness

Abstract

Designing computer games to educate students is not a new technique. Not all disciplines, however, embed the same degree of cognitive load, and not all game design approaches are appropriate across contexts. Teaching technical business disciplines, such as finance, using a game imposes specific challenges, especially when the subject is offered online and to students who may not be from relevant technical backgrounds. However, there has only been limited attention concerning the use of game-based learning (GBL) for teaching finance at the higher education level, especially when delivered online. This article explores the potential of GBL to teach finance at an Australian university. We further present the outcomes of a survey of students’ experiences concerning the unique business simulation tool. The results reveal that while a game-based intervention can positively affect students’ learning in a technical discipline, such as finance, the design also needs to be such that the players can relate the experience to learning goals and practical needs for satisfactory outcomes. A defining aspect of this research is using Bayesian analysis, capable of gaining insights irrespective of sample size, yet not widely used in the higher education research area in favour of the frequentist analysis. Bayesian analysis shows a high probability of the educational game achieving positive or satisfactory ratings. Further, two aspects of a game—functionalities and usability and perception of impact—are particularly noted to influence the game’s overall rating. Overall, the outcomes from this research call for careful consideration of the learners’ requirements and capability towards ensuring an enjoyable outcome rather than just focusing on a game’s content or context.