Abstract
Abstract This paper examines our approach to teaching a large-lecture personal finance course promoting students’ financial literacy. We identify the context of this course, including the rationale for large-enrolment courses and issues with the format in general, describing how using clickers and active learning strategies results in increased engagement, attendance, and critical thinking. Learning outcomes designed to support student formation of both internal and external views of finance are holistic and expansive, broader than measures of wealth accumulation alone. Moreover, a strategic initiative focused on career readiness aligns specific competencies with course content focused on developing transferrable skills through practical, real-world examples designed to engage problem-solving and critical thinking. This pragmatic and practical focus linked these transferable skills to a framework of learning grounded in the twin concepts of financial capability and competency. Additionally, we address how Covid-19 disrupted these courses, detailing adjustments necessitated by the new reality of social distancing while adjusting our approach to student participation as we met simultaneously in face-to-face and synchronous Zoom sessions. We concluded that additional considerations must include equitable access to resources based on our pandemic experience. Future research should examine these adjustments in light of developing culturally responsive methods to promote equitable learning.
Highlights
The purpose of this scholarly paper is to examine our approach to teaching a large-lecture personal finance course promoting student financial literacy
We examine our approach to a financial literacy class considering the stated goals of (a) developing financial competencies and capability, (b) informing financial behaviour, and (c) motivating students to become financially informed citizens in the context of a largelecture course impacted by the Covid-19 pandemic
We argue that combining an audience response system, collaborating with a credit union, and assigning podcast reflections related to current events and issues infuse relevance in the topics, encouraging student engagement
Summary
The purpose of this scholarly paper is to examine our approach to teaching a large-lecture personal finance course promoting student financial literacy. Course content is a collection of personal finance topics relevant to the needs of young adults, including (a) the interior finance point of view, (b) budgeting, financial tools, and compound growth, (c) income management, (d) taxation, (e) banking, checking accounts, credit, (f) loans and housing, (g) savings, (h) investments, (i) Insurance and risk, and (j) retirement planning. The structure of these topics is in the form of a financial life journey. We argue that combining an audience response system (clickers), collaborating with a credit union, and assigning podcast reflections related to current events and issues infuse relevance in the topics, encouraging student engagement
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