Inquiry-based learning is a student-centered approach that shifts the focus from traditional teacher-centered instruction to active exploration and discovery. By posing questions or problems, often related to real-world contexts or personal interests, students are encouraged to take ownership and control of their learning. Through inquiry-based learning, students will engage in research, analysis, and experimentation to gather information from a set of sources selected by them, this active learning style helps students develop critical thinking skills and find meaning in a way that is relevant to them. This approach empowers students to formulate their own research questions, evaluate the credibility and relevance of sources, analyze data, draw informed conclusions, and communicate their findings. By using an inquiry-based learning design, students will become independent, self-driven learners, capable of lifelong learning and fostering a sense of curiosity and intellectual engagement
Teaching personal finance with an inquiry-based learning approach offers numerous benefits and opportunities for students to develop a meaningful understanding of financial topics. Instead of passively receiving information, students are actively involved in the learning process by generating their own questions, conducting research, and analyzing data to build their knowledge. In an inquiry-based learning design focused on personal finance, students have the ability to explore questions that are relevant and interesting to them. They can delve into real-life financial scenarios or investigate topics related to their personal financial goals. By allowing students to pursue their own lines of inquiry, they can develop a sense of ownership and motivation in their education. Through their research, students can access a wide range of resources, such as financial websites, YouTube videos, articles, and finance books, to gather information and gain diverse perspectives. This multidimensional approach ensures that students receive a comprehensive understanding of personal finance and the skills necessary to make informed financial decisions. Furthermore, inquiry-based learning in personal finance recognizes the importance of financial literacy for all individuals. By allowing students to explore topics that are relevant to their lives, such as loans, investments, or budgeting, they will acquire practical knowledge that directly impacts their financial well-being. This approach ensures that students develop the skills needed to navigate the complex world of personal finance. Engaging in inquiry-based learning will not only enhance students’ understanding of personal finance but also cultivate critical thinking and effective communication skills. Students will learn to evaluate information and claims, analyze data, and present their findings in a coherent manner. These skills will be essential for making good financial decisions and communicating financial concepts to others.
References:
Carfora, J. M., & Blessinger, P. (2014). Inquiry-based learning for faculty and institutional development a conceptual and practical resource for educators. Emerald.
Hey Chloe, thanks for sharing an insightful post! I agree that inquiry-based learning is an incredibly effective approach to teach *personal* finance. It’s fascinating to see how such a personal topic has often been taught in a generic manner, although I understand that personalizing teaching plans requires significant effort from educators. Additionally, I recently came across the concept of “non-disposable assignments,” which entails creating assignments that have a lifespan beyond the course and can be reused in the future. I believe that if students can work on assignments like creating their monthly spending plans and be able to ask questions unique to their situations, they can definitely reuse those again in the future. This will make learning more applicable and impactful than ever.
Yes! I love the concept of “non-disposable assignments.” It’s such a beneficial approach that encourages the creation of assignments with a lifespan beyond the course itself, applicable to life in the long-term. Assignments that students can work on, such as creating their monthly spending plans and asking questions specific to their unique situations, have a lot of potential for reuse in the future.
Hi Chloe, I really liked how you described inquiry-based learning and how it can be used in your learning design project. Do you think this approach could be difficult for younger students? Or students who might find it hard to focus/comprehend topics when reading and conducting their own research?
Yes definitely, this is a super an important point about the potential challenges of inquiry-based learning with younger students or those who may struggle with focusing or comprehending topics independently. I think that while inquiry-based learning can be a highly effective and engaging approach, it does require a certain level of independent research and self-directed learning. Younger students or students who face difficulties in reading and conducting research might initially find it more challenging to fully grasp and navigate this learning style.
Hi Chloe! Great job crafting this blog! Yes, inquiry-based learning is an excellent approach to teaching personal finance. By encouraging students to ask questions and seek answers on their own, they can develop a deeper understanding of the subject and how it applies to their lives.
Hi Chloe, thank you for sharing! Yes, I agree that inquiry-based learning is a great way to teach personal finance. Helping students by motivating them to engage, be curious, and ask questions relating to finance can help create a better understanding of the topic, allowing them to be aware of their own financial well-being. This can help them gain important life skills to help manage their own expenses.