Academic journal article Journal of Financial Education

Enhancing the Learning Experience in Finance Using Online Video Clips

Academic journal article Journal of Financial Education

Enhancing the Learning Experience in Finance Using Online Video Clips

Article excerpt

INTRODUCTION

One of the primary goals of finance instructors is to get students engaged and excited about the subject matter. This may not always be an easy task, as students do not often possess the corporate frame of reference that would enable them to fully value and understand the theories and concepts presented in a real world context. Many textbooks simply highlight financial terms, concepts, and numerical problems. Therefore, students mistakenly believe that as long as they have memorized the terms and mastered the numerical problems, they have a firm grasp of the subject matter. However, if students are unable to understand the nexus between the material in the textbook and what pertains in the real world, then their learning experience in finance may be deficient.

An effective means for providing a meaningful learning experience in finance, where students are able to aptly use the concepts presented in the textbook, and discuss them using current real-world situations, is the use of online video clips. Video as an instructional tool engages students and produces excitement about the subject matter. Video clips from the websites of business news channels and periodicals can be even more effective in that they tend to be shorter, more current, and thus give the finance instructor time to dissect the clip and show the significance to the topic being taught.

This paper examines the idea that the use of online video clips from the websites of business news channels and periodicals in teaching finance leads to a more meaningful learning experience in the classroom. There is significant research advocating the use of video in the classroom as a complementary resource to curricula. According to Lori Griffin, Curriculum Director of the Library Video Company, "video taps into emotions which stimulate and enthrall students, and it provides an innovative and effective means for educators to address curricular concepts."1 However, research on the educational use of online video clips from the websites of business news channels and periodicals is lacking primarily because of the fairly recent online existence of these video clips. I aim to fill the gap in the research.

The following section reviews the literature on the use of video as an instructional medium. Then, a section on the pedagogical framework is presented, followed by a section on ways to effectively integrate online video clips into the finance curriculum. Then, I present the results from a survey examining students' perception of the approach. The concluding remarks are presented in the final section.

LITERATURE REVIEW

Dyl (1991) was one of the first finance instructors to introduce the use of movie clips in the finance classroom. Using the movie Wall Street in lieu of a traditional written business case, Dyl was able to effectively teach ethics and other finance concepts. He termed it the "live case approach", and since then, finance instructors have found that this approach makes classes more exciting for students and is effective in cementing difficult finance concepts.

Chan, Weber and Johnson (1995), employing Dyl's "live case" methodology, used the movie Other People 's Money to effectively teach finance topics, such as shareholder wealth maximization, capital structure decisions, social responsibility of a firm, and mergers and takeovers in beginning finance classes. They surmise that traditional finance cases may sometimes be too daunting for these finance students. Serey (1992) used the movie Dead Poets Society to teach management and organizational behavior concepts in the classroom. He finds that students are primarily observational learners and movies/movie clips better serve to enhance their understanding of concepts as opposed to a strictly lecture-based approach.

Karppinen (2005) examined the theoretical perspectives for exploring the pedagogical meaningfulness of using videos in teaching, studying, and learning with a direct focus on using digital and online video materials. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.