Financial Literacy Games—Increasing Utility Value by Instructional Design in Upper Secondary Education

Empirical findings show that students often have insufficient financial literacy, even though they increasingly make independent financial decisions. Financial education at school can provide a foundation for a lifelong proactive approach to financial matters with increasing utility value and financial interest. This includes the simulation of future financial decisions with serious games. Despite a wide range of serious games to promote financial literacy, there is a lack of empirical research on the instructional design of such games. This includes the instructional design of game mechanics as action-guiding and reflection prompts for debriefing. In a quasi-experimental intervention study with a 2 × 2 research design, upper secondary students were assigned to four groups (n = 293). They played the game Moonshot with different combinations of game mechanics and reflection prompts. Based on mixed ANOVA analysis, the combination of strategic game mechanics and direct reflection prompts significantly increased students’ utility value for a financial literacy game, which underlines the importance of the instructional design of game mechanics and reflection prompts in serious games. But only a group-independent time effect was found for financial interest. Theoretical and practical implications are discussed.