Testing the Game: Gamma Finance as a Design-Based Prototype for Financial Literacy in Higher Education

Abstract

This study presents Gamma Finance -GF, a high-fidelity instructional game designed to explore the potential of gamification in enhancing financial literacy among university students. Grounded in gamification and experiential learning principles, GF enables participants to engage in active decision-making, problem-solving, and strategic thinking within simulated financial scenarios. The study followed a design-based research approach, employing a quasi-experimental methodology without a formal control group, which limits the ability to infer causality. The findings should therefore be interpreted as exploratory and formative. Data were collected through expert validation, pilot testing, focus groups, and iterative design refinements. The study offers initial insights into how students interact with the game and perceive its educational value. Participants reported increased engagement and motivation, with 91% expressing strong interest in learning financial concepts through gameplay. Additionally, qualitative feedback and performance indicators suggest the game may help develop analytical, mathematical, and financial decision-making skills. These findings position GF as a promising prototype and an example of how gamified learning tools can complement traditional approaches to financial education. Future research should further investigate its impact through controlled studies and assess its scalability across diverse educational contexts.