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Abstracts |
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THE PERILS OF TEACHING CASE STUDIES IN FINANCE DURING PERIODS OF FINANCIAL VOLATILITY Barry O’Grady, Curtin University, Australia This study examines teaching
in finance by application of case studies during times of financial
market volatility. Academic textbooks often presume neat structured
solutions to real world problems that are often quite complex.
Recent events such as the global financial crisis (GFC) and the
European debt crisis (EDC) come to mind. Leaders and policy makers
are grappling with how to solve these major financial and societal
problems. Templates within academic case studies are in many cases
now defunct. These evolving crises are the new case studies of the
future. This study posits that educators should address the tools
they use in the classroom. Whilst they should still maintain the
tool of traditional case study teaching in their portfolio, they
should now evaluate new methodologies to attempt to learn about new
and often frequently catastrophic events occurring in financial
markets. Students should continue with traditional analysis of
cases, but should also be probed and tested how to address events
that have yet to happen and currently could be termed almost
unimaginable. This should help educators prepare students to be the
leaders and the thinkers of the future. Students should be
encouraged to move away from a structured ‘black-box’ thought
process which should allow them the ability to probe and find quick
and efficient solutions for the betterment of society in future
years if they are called upon to do so. |
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