Episode 11 SimBusiness- Free Biz Sims to Learn Financial Literacy!
The emergence of simulations has taken the game industry by storm, but having fun while learning to be a CEO and become adept at financial literacy?
This isn’t our traditional school days! Instead, media companies have developed accurate, compelling simulation games which put learners(of all ages) into the director’s chair as they guide their company to success.
- Will they make the right decisions?
- OR will they be swayed by false information, incorrect projections or allegiances?
Kathy and Mark provide another riveting episode of Talking Financial Literacy in which they tour several of the best online games related to financial literacy learning.
Listen in for abundant resources, perspectives on critical thinking and constructivism all to continue our quest for developing better understanding and practice in personal finance. You will discover
• Several free online video games which teach entrepreneurship through virtual reality simulations
• Educators’ inside looks at ease of setup, use, application and benefits of these programs.
Article
• From Entrepreneur.com
A very different use of games for “financial learning” File under Innovative Thinking
“Now Bellevue, Washington-based SimplyFun offers its own line of games, puzzles, puppets and other family activities. The exclusivity of the products is essential to direct-sales success, according to Molen and DeGiulio, because the products don’t have to compete with any others and the consultants don’t have to compete with retail stores. “We want to make it easy for the consultants to be successful,” says DeGiulio. To that end, they provide training in person, online, by video and through conference calls; choose not to charge their consultants for their website or require them to keep any inventory; and offer incentives to encourage their consultants to reach certain goals.
But they also realize that attracting and keeping consultants is about more than just money and rewards. “For your consultants to be excited and passionate about what you’re doing, they have to feel attached and connected to your mission,” says Molen. “Our mission is to promote play and get people to laugh, create memories and connect through face-to-face fun.” Guided by that mission, they have signed more than 1,000 consultants in 45 states, and the company saw 60 percent growth last year.”
Resources
- Johnny Money Financial Simulation - website and game
- Industry Masters Online Simulation- YouTube video
- Industry Masters Online Simulation- also watch this one !
- JA Titan Simulation –
website and game
From NIFB website: “Now available from the NFIB Young Entrepreneur Foundation, Johnny Money Online Game is a FREE Internet-based small business simulation game that engages students as they explore the risks and rewards of business ownership. Johnny Money is the newest of the Entrepreneur-in-the-Classroom programs, which are designed to enable educators to talk about entrepreneurship in their classrooms.
Goals/Objectives: Students will be able to:
* Utilize experiential learning as a tool to aid in retention of entrepreneurial concepts
* Create, maintain, analyze and influence the essential factors in a successful virtual small business
* Experience, engage and interact with entrepreneurial decisions and events in a virtual setting”
Set in the year 2035, JA Titan creates a world in which players are CEOs of their own companies. Originally conceived in the 1980s as the Management and Economic Simulation Exercise, or MESE, JA Titan is a widely recognized business simulation for high school students. During game play, students must run a manufacturing company and master six key business decisions: price of product, production levels, marketing expenses, research and development costs, capital investment level, and charitable giving. Various corporate assistants “help” the player through each phase, or “quarter,” of game play. In 2000, JA Worldwide™ (Junior Achievement) launched JA Titan under its current name as a Web-based product. ….
Success in JA Titan is measured by a “Performance Index,” an evaluation of each fictional company’s performance based on the following:
* Retained Earnings (50%)
* Supply and Demand Potential (20%)
* Productivity (10%)
* Market Share (10%)
* Growth (10%)
Contact Us
You may contact Mark and Kathy by
- leaving a comment here on the blog/site
- emailing us at podcast@talkingfinlit.org
Podcast Feed:
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Talking Financial Literacy is produced in collaboration among the MS in Adult Education and HRD at Fordham University and The McGraw-Hill Companies.
- (C) Talking Financial Literacy is copyrighted by The McGraw-Hill Companies, 2008. All rights reserved.
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Paige Eissinger of Transformation Education LIVE! asks pressing and curious questions about the Talking Fin Lit Series.Topics range from living on your credit line for necessities, to faulty mortgage lending possibilities, students targets for credit card companies, and how BIG is financial literacy in our lives.
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