Project-Based Learning in Financial Literacy Education: Effects on Learning Outcomes and Motivation Across Cognitive Styles

Abstract This study investigates the effectiveness of Project-Based Learning (PBL) in financial literacy education and examines how Global and Sequential cognitive styles affect learning outcomes and motivation. Using a pre-test/post-test design with 21 university students, the study measured financial literacy improvement and changes in motivation factors through assessments and the Motivated Strategies for Learning Questionnaire (MSLQ). Results showed that PBL significantly improved financial literacy (t = 2.609, p = .017), with no significant differences in improvement rates between cognitive styles (t = -0.628, p = .538), suggesting PBL is equally effective for both Global and Sequential learners. All students showed significant improvement in Self-Efficacy (t = 2.454, p = .023), with Global learners demonstrating particularly significant improvement in Control Beliefs (t = 2.409, p = .035). This study highlights the effectiveness of PBL in financial literacy education, emphasizing its role in improving self-efficacy and strengthening control beliefs, while also underscoring the importance of tailoring instructional strategies to accommodate different cognitive styles. These findings offer insights into how AI-assisted PBL, particularly through generative AI (GAI), could be applied in the future to provide personalized learning support, enhancing learning outcomes and experiences for students with diverse cognitive styles. JEL classification numbers: A22, D14, I21, I23. Keywords: Financial Literacy, Project-Based Learning (PBL), Cognitive Styles, Learning Motivation, Self-Efficacy, Control Beliefs.