E-learning Goals

Kirkpatrick Levels

Assessment Techniques and Tools

Formal grading:

While I am cautious about imposing formal grading on the program, considering the existing pressure that teens face to achieve ‘good grades’ in school as preparation for college or post-high school careers, I do recognize the importance of having a formal grading system.

Here are some factors that I have contemplated and considered for including, not including and a more balance approach on formal grading:

Pros:
Real Motivation: Without the pressure of grades, teens may be more motivated by a genuine interest in learning and understanding financial literacy.
Reduced Stress: Removing formal grading can create a more relaxed learning environment, encouraging teens to engage more freely with the content.
Focus on Practical Skills: The meaning of the program shifts to skill development and practical application rather than achieving a specific grade.
Inclusive Environment: A non-graded approach can be more inclusive, accommodating different learning styles and paces.

Cons:
Lack of Accountability: Some teens may not take the course seriously without the incentive of grades.
Difficulty in Measuring Progress: Without formal grades, it may be harder to track their progress and identify those who need additional help.

Balanced Approach:

A balanced approach might include a combination of formative assessments, self-assessments, and optional graded components:

Formative Assessments: Regular quizzes, interactive discussions, and reflection activities.

Self-Assessments: Encourage teens to evaluate their own progress and set personal goals, which may promote self-awareness and personal responsibility.

Optional Grading: Offer teens the option to complete specific or additional tasks for a formal grade if they wish to receive official recognition or credit.

Summative assessment:

End-of-module tests, final projects, and comprehensive simulations evaluate teens’ overall grasp of the course content and their ability to integrate and apply financial concepts.

Validity and reliability of your testing instruments:

Ensuring Content Validity:

Ensure that all assessments are directly aligned with the program’s learning objectives. Each learning activity should measure a specific skill and have teens demonstrate the knowledge that is outlined in the objectives.

Have financial literacy SMEs review the assessment instruments to ensure they cover the necessary content.

Validity of Concepts:

Clearly define the concepts (e.g., budgeting skills, understanding of credit management) that the assessments are intended to measure.

Incorporate various question types (e.g., multiple-choice, short answer, scenario-based) to capture different dimensions of the theories.

Conduct pilot tests with a small group of teens and analyze the results to ensure the assessments predict relevant external principles (e.g., actual financial behavior.)

Ensuring Reliability

Develop detailed scoring rubrics for subjective assessments (e.g., written reflections, projects) to ensure consistent scoring across different raters.

Declarative & Procedural Knowledge:

Declarative knowledge forms the foundation upon which practical skills are built. Understanding basic financial terms and concepts is essential for applying them correctly in real-world situations. (Tested with multiple choice questions to assess knowledge of financial terms, definitions, concepts in Module 1.)

Knowing the principles of budgeting, saving, investing, credit, and debt management gives teens the knowledge and confidence to make informed and rational financial decisions. (Tested with true/false statements to evaluate their understanding of financial principles and concepts in Module 2.)

A solid grasp of declarative knowledge prepares teens to tackle more complex financial issues and procedures that will support each phase of their lives throughout adulthood. (Tested with short answer questions and reflections to test the ability to explain financial concepts in their own words in Module 3.)

Procedural Knowledge

Financial literacy is ultimately about applying knowledge to manage money more effectively. Testing procedural knowledge ensures teens can translate their understanding into practical actions (tested with scenario-based situations to assess their ability to apply financial concepts in real life situations and equip teens with the knowledge to handle unexpected financial challenges in Module 2.)

Developing procedural knowledge helps teens build essential life skills, such as creating and managing a budget, evaluating and comparing financial products, and planning for future financial needs (tested with project based assessments like creating a financial plan or developing a savings strategy in Module 3.)

By testing both declarative and procedural knowledge, the program ensures teens gain a comprehensive understanding of financial literacy, equipping them with both the knowledge and skills necessary for effective money management and decision-making in their present and future lives.

Qualitative or Quantitative Data and Why:

Formative Assessments

• Quizzes and Tests: These provide numerical scores that quantify teens’ knowledge and understanding of financial concepts.
• Surveys and Polls: These can capture numerical data on teens’ overall attitude and self-assessed knowledge before and after the course.
• Project Scores: Projects that are graded using a rubric provide scores that quantify the level of skill and understanding demonstrated.

Summative Assessments

Reflective Journals: These can provide qualitative data on teens’ thought processes, decision-making skills, and personal growth in financial literacy.

Self-Assessments: Qualitative feedback from teens about their learning experiences and self-perceived improvements.

Project-Based Learning: Written Reports and Presentations: Qualitative data from teens detailed descriptions of their budgeting projects, financial plans, and the reason behind their decision-making.

Feedback and Surveys: Open-ended survey responses will provide a qualitative insight from teens and what they may have found challenging or beneficial in the program.

Interactive Discussions: A discussion board can provide qualitative data from interactive discussions where teens explain their reasoning, ask questions, and engage in peer learning.

Online Instructor:

The financial literacy program will not have an online instructor however teens will still receive feedback on their performance through automated systems, peer reviews, and self-assessment tools. Here are some ways that I will ensure teens get the feedback they need to succeed:

Use online platforms that automatically score quizzes and tests, providing instant feedback on performance. Include explanations for correct and incorrect answers to enhance learning.

Create simulations that give instant feedback on financial decisions. For example, if a teen makes a poor budgeting choice, the simulation can show the immediate consequences and suggest better alternatives.

Set up discussion boards where teens can post their work and provide constructive feedback to each other. Peer assessment can be guided by rubrics to ensure quality and consistency.

Provide checklists and rubrics for teens to evaluate their own work against the course standards.

Use reflective journals where teens regularly write about their learning experiences and progress. Automated prompts can guide reflection on specific topics.

Incorporate feedback directly throughout the modules. For example, when teens interact with a module there will be immediate feedback provided through pop-up messages and comments.

Implement a system that tracks progress and milestones, offering instant encouragement and suggestions for next steps.

Use gamified elements such as badges, achievements, and leaderboards to provide positive reinforcement and feedback on accomplishments.

Assessment Tools:

Depending on how the course is delivered—whether it’s offered to new and current minor members through the Credit Union, integrated into an extra-curricular activity, after-school club, or part of the existing school curriculum—we will utilize different assessment tools.

In a classroom environment we’ll use an interactive electronic assessment tool like Kahoot! to engage teens. This approach not only gets them excited about what they’ll learn but also recognizes and rewards their gained knowledge.

Example below:

Module 3: All About Credit

As a program offered through the Credit Union, we need tools that are accessible and available in micro-learning formats to complement the existing financial education of credit union members.Therefore an assessment can be provided through Articulate Rise – example below:

Module 1: Foundation of Finance Pre-Assessment

Questionnaire