Financial education games

Games can be used in financial education, as some of them simulate the functioning of the economy: they have rules, certain provided resources and an objective. Playing is fun and inspiring, and games help in making abstract things concrete.

What is the benefit of games in financial education?

Games are familiar from other contexts as pastimes, and therefore it is easy to motivate people to play them. It is typical of games that they involve goal-oriented activity according to given rules. For example, in chess the goal is to checkmate the opponent’s king. In the game, the players are given certain resources (chess pieces) and rules on how the pieces may be moved. Within the resources provided, each player tries to win the other’s pieces tactically by moving them correctly. In the game, making some move means that you lose the opportunity to make some other move. This is where opportunity cost comes into play.

Games can help the players improve their understanding of abstract topics and concepts. In games, the players can transfer knowledge from theory into practice and break things down into smaller modules. Playing is a fun and exciting way to teach. Learning takes place almost as a by-product of interacting with others when playing. 

In games, the players can transfer knowledge from theory into practice and break things down into smaller modules.


Games have clear similarities with how in economics we think about the structure of the economy. According to one definition of economics, choices are made in an economy in a situation of scarce resources. Each actor seeks, with the resources provided, to make the best possible choices from their own perspective within institutional constraints. It is good to remember, however, that in financial games it is worth focusing on some limited and relatively simple theme, because the economy is a multidimensional entity.

This website has been implemented in collaboration with Panu Kalmi, Professor of Economics at the University of Vaasa.

Games in financial education: examples

Measuring the impact of games

There follows a review of studies examining the impact of games or gamified learning environments on financial education. The evidence presented in the studies suggests that games have beneficial effects on financial education and on financial knowledge in particular. In some studies, games have been found to have an impact on financial behaviour, while others have not.

Tips for teachers

Making full use of the games requires effort and planning on the part of teachers. Games can provide fun variation to lessons. At their best, however, games may allow students to learn a lot about the topics being addressed.