Reorienting Financial Literacy Education beyond Homo Economicus: A Social Constructivist Learning Model Grounded in Islamic Economic Values for Higher Education
DOI:
https://doi.org/10.59944/postaxial.v3i4.2218Keywords:
Financial Literacy Education, Curriculum Development, Social Constructivism, Islamic Economics, Islamic Crowdfunding, Higher EducationAbstract
In much of the intervention literature, financial literacy education defines success as knowledge gain and behavior change, and the evidence that instruction alone changes conduct is mixed. This conceptual paper does not claim that individualistic assumptions cause weak results. Its claim is narrower: such assumptions narrow the aims of instruction, so a complementary curriculum design is needed. The paper follows a theory adaptation design with a model as its output. It adapts the human capital view of financial literacy education through two method theories, namely Vygotsky's social constructivism, which supplies a mechanism, and the value framework of Islamic economics, which supplies content. Revealed values and constructivist learning are reconciled by separating the source of a value from the process of its internalization, and scholarly authority is bound by explicit rules. The learning vehicle is a staged Islamic crowdfunding project built on profitsharing contracts. The resulting CommunityBased Value Mediated Financial Learning (CVFL) model has six propositions with stated falsification conditions, a four arm design that separates it from generic project based learning and from content exposure alone, and ethical safeguards for assessment, partners, and mixed classrooms. The paper speaks to curriculum development, assessment, and equity in higher education
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