In December 2013 the Rotman School of Management of the University of Toronto published a research report called “A Practitioners`s Guide to Gamification of Education“.
For students, gamification serves the purpose of minimising negative emotions
that they usually encounter in traditional forms of education. It lets them approach knowledge and skills, using the learn-by-failure technique that is popular in game-like environments, without the embarrassment factor that usually forms a part of classroom education. Instructors on their part can efficiently achieve their set objectives and use currency-based tracking mechanisms to get feed-back on their students’ progress.
The report can be found here.