Financial Math Matters: A Jack and Jill Adventure (ARC)
Nathan Drake, Oklahoma Baptist University
Krista B. Hands, Oklahoma Baptist University
Financial mathematics has been identified as a key area for mathematical literacy. Many high schools now require specific courses that address financial literacy, and many districts require financial concepts to be taught even prior to high school (Batty, Collin, O’Rourke, Odders-White). The U.S. National Strategy for Financial Literacy 2020 states, “Building the financial decision-making knowledge and skills of young people helps them to make informed financial choices throughout their lives.” The Consumer Financial Protection Bureau further highlights the importance of applied math, basic financial skills, and experiential learning opportunities in developing stronger financial decision-making skills and executive function in learners. The design of this activity follows closely to the multidimensional problem-solving framework laid out by Carlson and Bloom. In various stages of the activity, we see orienting, planning, and executing followed by a heavy emphasis on checking and reflecting. In the initial stages of the activity, an instructor might prompt students to provide informal predictions about the financial decisions that the fictional family will make. This activity would follow some formalized instruction on the financial formulas implemented and highlight the impact of various financial decisions.
This work is licensed under CC BY-NC-SA 4.0
