| Problem-Based Learning Strategy for Improving Students Learning Performance in Economic and Financial Literacy Education |
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Jun Tae Kim |
| 교양 경제교육 효과향상을 위한 문제기반학습 방안 |
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김준태 |
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| Abstract |
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Following the global financial crisis of 2008, a significant focus on economic and financial literacy education has emerged from countries around the globe. The economic crisis has highlighted how essential it is that individuals and families have the information, education, and tools that they need to make good economic decisions in an increasingly complex national and global economic system.
The purpose of this paper is to examine one innovation in teaching economic and financial literacy, the instructional effect of Problem-Based learning on economic and financial literacy education, and teaching strategies focusing on instructional model using Problem-Based learning theory. Problem-Based Learning is a learning approach where real life like problems are used in order to provide opportunities to learners so as to reach the objectives which was covered in educational programmes and to use critical thinking and problem solving skills effectively.
It is very important to consider how schools can best provide an education that leads to good economic and financial literacy learning outcomes. The topic of economic and financial literacy raises the issue of the potential role that might be played by education, quality information, and incentives in improving decisions. A long history of research exists about the most effective ways of learning and teaching traditional school subjects like mathematics and history, but less is known about effective pedagogy in economic and financial literacy education. The ability to apply the newly acquired knowledge is often not as easy as it sounds and/or not possible for some individuals. It can be argued that with a less than ideal education, information sets, and incentives, individuals cannot make the best decisions.
This study is suggestive that Problem-Based learning is effective to improving learning outcomes and the attitude toward economic and financial literacy education by reinforcing practicality in real-life economic decision making and self-motivated learning. Problem-Based learning helps students develop critical thinking to solve problems, and this study has found positive effects of Problem-Based learning on long-term retention that were believed to be caused by student-cantered educational process, aiming to the development of key-skills, necessarily involves a pro-active approach that facilitates students involvement in research, analysis of problematic situations or solving real problems. The findings present us with the fact that Problem-Based learning has significant influence on student achievements at knowledge level, comprehension level. |
| Key Words:
Economic and financial literacy education, Problem-Based learning, Economic decision-making, Decision-making situation, Students learning performance, General education |
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