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Simulations for Financial Literacy
- 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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15 downloads |
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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 |
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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. |
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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 |