Transforming financial education through mobile learning and gamification: The case of FIN533 mobile apps

Abstract

Personal financial planning is a crucial life skill, yet university students frequently face difficulties grasping its theoretical and mathematical components. This paper investigates the effectiveness of the "FIN533 Mobile Apps," an innovative educational technology designed to bridge the gap between abstract financial concepts and practical application. The app features an Interactive Academic Hub with a Time Value of Money (TVM) and tax calculator, alongside the "MyLife Simulator Game" which applies gamification to personal finance management. A quasi-experimental study was conducted involving undergraduate students enrolled in the FIN533 course. The implementation of this application resulted in a dramatic reduction in the failure rate from 12% to 2% within two semesters. Furthermore, survey analytics indicated a 99.3% positive reception regarding its utility in simplifying complex subjects. This paper comprehensively details the architecture, pedagogical foundations, implementation strategy, and statistical outcomes of this innovation, providing a robust framework for integrating mobile gamification into higher education financial curricula.