Abstract:
Given that experiential learning has been playing an important role in student development, addressing the lack of experiential learning is a matter of urgency. To echo the need, we initiate this project to adopt simulation pedagogy in teaching for improving students’ learning motivation and developing their professional excellence.
Simulation allows for experiential learning within a controlled environment which is approaching to reality. Real world behaviors and situations can be modeled in the computer providing a true to life experience. The proposed project innovatively designs Virtual Experiential Learning (SL) module, which comprises several stages such as experience, reflection, abstraction, and experimentation, specifically in the virtual form. Around 119 MA and 20 BBA students will be involved in the SL phase. They will join in simulated trading where students will learn from experience, reflection, and other forms of Assessment for Learning.
As for the expected outcome, the teaching and learning outcomes of the project will be available for university instructors to improve their quality of teaching and learning using SL pedagogy. A practical manual on how to design the SL process, deliver SL lessons, together with SL assessment and evaluation, will be prepared and delivered to the targeted groups upon project completion.
Code:
T0263
Principal Project Supervisors:
Keywords provided by authors:
- Simulation learning
- Reflective learning process
- Formative assessment
- Business education
- Simulation trading design
Start Date:
16 Jan 2023
End Date:
15 Jul 2024
Status:
Completed
Result:
The virtual experiential learning was conducted in the course BUS 6038 Investment Analysis and Portfolio Management in semester 2 of AY2022/23. 44 students successfully completed the survey. The survey data analysis and the students’ feedback show that the SL helps the student in Global Perspective, Problem Solving Skills, and Critical Thinking Skills.
Moreover, 75 students will participate in the SL in the course BUS 6031 Global financial Market and Instruments in semesters 1 of AY2023/24 and BUS 6038 Investment Analysis and Portfolio Management in semester 2 of AY2023/24 in EdUHK. At the same time, 20 students in the HKBU BBA program will participate in the SL in the Investment in Semester 1 of AY 2023/24 course.
In SL, students will manage to handle real-world problems in finance investment, which helps them consolidate their financial knowledge and behavior. Through observation and reflection, students will be enabled to critically review and evaluate existing knowledge and develop their understanding that may improve their financial attitude and future financial-related behavior, including decision making ability, long-term goal setting, and risk management ability, in an innovative and critical manner. Students will also gain comprehensive soft skills, including teamwork capacity, communication skills together with global perspective.
Impact:
1.The project has positively impacted students’ Professional Excellence and enabled students to analyse the market environment better. Students successfully applied their knowledge of stock analysis to real markets. While learning about market volatility, learners were more responsive to factors that affect the market, including cycles, policies, and other news. Moreover, some students reflected in depth in their self-reflection on the underperformance of their portfolios due to a lack of analysis of the markets, reflecting that experiential learning enables students to be more acutely aware of the markets. For example, students self-reflected that “we should also pay attention to social hot spots, economic policies and economic trends”.
2.The project enabled students to improve their ability to construct efficient investment portfolios. Most students could diversify their investments across different industries, such as new energy, internet, and steel. Some students reported that “this simulation of a small competition is to examine our balanced risk and return proportion of the test. Also, some students self-reported, “The risk hedging ability of a single financial product is weak, especially in the stock market, which is vulnerable to overall trends.”
Financial Year:
2022-23
Type:
TDG