"Learning Through Gaming Makes It Easy" Efforts to Add Fun on Site [Essential! Financial Education]⑥

Economic and Financial Consumer Research School
Gwangju National University of Education Mokpo Attached Elementary School
Development of a Game Similar to Blue Marble and Other
Experiential Curriculum Design
"Education Reflecting Characteristics of Elementary Students Needed"

On the afternoon of the 10th, I visited Gwangju National University of Education Mokpo Affiliated Elementary School located in Mokpo. When I entered the 6th grade, class 1 classroom, it was much noisier than other classrooms. It was definitely an economic and financial education class, but the children were laughing and chatting. The 24 students were divided into groups of 4 to 5 and playing a game, and their conversation went like this: “Are you going to start a textile factory?” “I think buying is more profitable for now.” “I’ll just save money in the bank.” Upon closer look, it seemed they were playing a game called ‘Booroomabul,’ where players roll dice and move their pieces.

Similar to Booroomabul, players roll dice and move their pieces around the board to receive a set amount of money after completing one lap. With this money, they can start companies related to primary industries such as reclaimed land and livestock farms, secondary industries like textile factories, or tertiary industries such as department stores or autonomous vehicle development companies. When another player passes by a company you have started, you can earn money depending on the company’s capabilities. It was also similar to Booroomabul in that you could move to desired locations through a travel agency.

On the afternoon of the 10th, a game themed "The World of Investment and Insurance" was held in Class 1 of the 6th grade at Gwangju National University of Education Mokpo Affiliated Elementary School.
[Photo by Oh Gyumin moh011@]

There were other unique features as well. There was a bank and an insurance company. If you deposit money in the bank, you can earn money through interest. At the insurance company, you could buy full coverage or partial coverage insurance policies. When a piece lands on a spot with a smiling face, you have to draw a Smile Card, which describes ‘hardships’ that may occur during company operations, such as tax increases, strikes, or factory destruction due to natural disasters. If you have an insurance policy, you get a chance to recover from these hardships. You could also buy and sell companies through a licensed real estate agent. If there were no buyers for your company, you could sell it to the bank at half the original price.

The game proceeds up to 3 rounds. On this day, only up to the 2nd round was played; the 1st round was a practice game to understand the rules, and the main game started from the 2nd round. From the 2nd round, the rules changed slightly, especially the figures related to the bank and insurance. The interest rates for savings and loans at the bank changed from 10% to 20% and 5%, respectively. The monthly salary income per lap increased from 100,000 won to 150,000 won, and the price of insurance policies rose by 50,000 won each.

According to the changed rules, students’ strategies also changed. One student who did not save money in the bank during the 1st round started saving as the interest rate increased by 10 percentage points. Another student who suffered damage from a natural disaster because they did not buy insurance purchased insurance products despite the price increase.

After the 2nd round, the teacher asked the students questions about investment, insurance, and strategy, and their thoughts varied greatly. One child moved to a location where they could start a tertiary industry company through the travel agency, explaining that investing a large amount of money to start a company there would yield the highest toll fees. Another child saved the money collected early on in the bank, earning 20% interest on 600,000 won, making 120,000 won per lap, and saved again. They invested where they could earn the most and fastest. There was also a student who started companies at every passing location, aiming to profit from toll fees through unconditional investment. Many students felt the need for insurance policies. There was a mission to sell the most expensive company, but some said they received full compensation through insurance policies or only suffered half the loss due to fire because of insurance.

This game is similar to Burumabul, where you roll dice and move your piece around the board. When you complete one lap, you receive a set amount of money and can establish multiple companies. If another player passes by a company you founded by rolling the dice, you can earn money based on the company's capabilities. Additionally, by adding banks and insurance companies, you can store money to earn interest income or receive compensation for damages through insurance policies.
[Photo by Oh Gyumin moh011@]

The purpose of this game was created to understand the one-line textbook phrase, ‘People invest with expectations and buy insurance due to anxiety.’ After observing the discussion following the game, students said they could immediately realize things like ‘Unconditional investment carries risks,’ ‘You can make money if you invest in good opportunities,’ and ‘I understood why insurance is necessary’ regarding investment and insurance.

The reason Gwangju National University of Education Mokpo Affiliated Elementary School could conduct such experiential education was that it was a research school designated by the Ministry of Education for economic and financial consumer education. The curriculum, developed over four years based on teachers’ research, was designed not just to deliver knowledge through textbooks but to enable students to realize concepts immediately. This school not only uses the educational Booroomabul game but also conducts experiential classes. Vice Principal Jang Gi-jung said, “Parents and guardians gave students 5,000 won in allowance, and after making consumption plans, they went to a mart during class to experience spending. By buying things directly, students could think about the value of money and vividly learn the importance of planned consumption.”

He also emphasized the necessity of economic and financial education tailored for elementary school students. He said, “Elementary students tend to want to satisfy their desires immediately, but through this kind of class, students go through the process of planning, executing, and reflecting. Economic and financial education is necessary because it allows them to organize and learn about overall economic activities.”

Although the designation as a research school ended last year, this kind of economic and financial education is expected to continue. Teacher Lee Cheol-woong said, “It was clearly effective because children could have direct experiences,” and “There was a difference in the understanding of economic and financial concepts between students who received economic and financial education at our school from grades 1 to 6 and those who did not.”