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Simulations for Financial Literacy

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Date Issued:
2012
Abstract/Description:
Financially literate consumers are empowered with the knowledge and skills necessary to make sound financial decisions that ensure their long-term economic well-being. Within the context of the range of cognitive, psychological, and social factors that influence consumer behavior, simulations enhance financial literacy by developing consumers' mental models for decision-making. Technical communicators leverage plain language and visual language techniques to communicate complex financial concepts in ways that consumers can relate to and understand.Simulations for financial education and decision support illustrate abstract financial concepts, provide a means of safe experimentation, and allow consumers to make informed choices based on a longitudinal comparison of decision outcomes. Technical communicators develop content based on best practices and conduct evaluations to ensure that simulations present information that is accessible, usable, and focused on the end-user. Potential simulation formats range from low- to high-fidelity. Low-fidelity simulations present static data in print or digital formats. Mid-fidelity simulations provide digital interactive decision support tools with dynamic user inputs. More complex high-fidelity simulations use narrative and dramatic elements to situate learning in applied contexts.
Title: Simulations for Financial Literacy.
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Name(s): Hamilton, Angela, Author
Jones, Daniel, Committee Chair
Flammia, Madelyn, Committee Member
Metcalf, David, Committee Member
, Committee Member
University of Central Florida, Degree Grantor
Type of Resource: text
Date Issued: 2012
Publisher: University of Central Florida
Language(s): English
Abstract/Description: Financially literate consumers are empowered with the knowledge and skills necessary to make sound financial decisions that ensure their long-term economic well-being. Within the context of the range of cognitive, psychological, and social factors that influence consumer behavior, simulations enhance financial literacy by developing consumers' mental models for decision-making. Technical communicators leverage plain language and visual language techniques to communicate complex financial concepts in ways that consumers can relate to and understand.Simulations for financial education and decision support illustrate abstract financial concepts, provide a means of safe experimentation, and allow consumers to make informed choices based on a longitudinal comparison of decision outcomes. Technical communicators develop content based on best practices and conduct evaluations to ensure that simulations present information that is accessible, usable, and focused on the end-user. Potential simulation formats range from low- to high-fidelity. Low-fidelity simulations present static data in print or digital formats. Mid-fidelity simulations provide digital interactive decision support tools with dynamic user inputs. More complex high-fidelity simulations use narrative and dramatic elements to situate learning in applied contexts.
Identifier: CFE0004318 (IID), ucf:49489 (fedora)
Note(s): 2012-05-01
M.A.
Arts and Humanities, English
Masters
This record was generated from author submitted information.
Subject(s): financial literacy -- simulation -- finance education -- decision support
Persistent Link to This Record: http://purl.flvc.org/ucf/fd/CFE0004318
Restrictions on Access: public 2012-05-15
Host Institution: UCF

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