Teaching financial literacy around the topic of games : a case study

Abstract

In the last decade, various pricing models have been developed around computer games. The classic model is games that are bought at a fixed price and no further spending is necessary. However, for some of these games, there are frequent content expansions, such as new stories, available to purchase. Other games have an initial price and a subscription model. A further concept, which can be seen in well-known esports games, such as “League of Legends”, but also in mobile games, such as “Clash of Clans”, is the free2play model. Here, the game can basically be played for free, but there are in-game purchases or so-called season passes, where rewards can be earned more quickly. In all models with in-game purchases, it is always the same procedure: for real money, a further type of ingame token (for instance, jewels in Clash of Clans and “FIFA points” in FIFA) can be bought in addition to the in-game currency that can be earned by playing the game. However, it is only possible to invest money in the game, but not to convert the in-game currency into real money (although there are workarounds like using eBay or other platforms and sell the game accounts or meet in game to transfer in-game currency which has been purchased with a peer2peer FIAT transaction before). In some cases, that secondary currency, which is intended to be purchased for real money, can also be earned, but usually only very slowly and with a lot of effort while playing, which might have legal reasons, so the games cannot be blamed to fall under the gambling jurisdiction. This paper takes the esports School League Floridsdorf+ in Vienna as an example to examine how the topic of digital games and their respective around the game and in-game economy can be used to introduce students to the topic of financial literacy. This can also be facilitated to explain classic financial topics such as interest rates, inflation, deflation, savings accounts or new technologies such as blockchain in an applied and sustainable way.