Incorporating interactive tools in finance education
The authors demonstrated the interactive tools available with the new edition of Corporate Finance, and highlighted the ways educators can bring them into the classroom to enhance student engagement and understanding.
The main value of the tools is their ability to elucidate current events in the light of finance. Where students may feel intimidated or bored by finance, these tools demonstrate how financial principles relate to the world around them.
The authors maintain that the versatility and capability of these tools to visualise data is the greatest advantage of using them, allowing academics to adapt and apply them to events as they occur. For instance, the authors were able to take the example of the Silicon Valley bank failure and use it in the webinar as a live example.
Learning through play with visualisation tools: top tips
A benefit of these tools is their ability to help students visualise data. But more than visualising in the same way static graphs or charts might do, interactive tools let students visually understand how certain metrics and principles will affect the data overall.
An important tip, according to the authors, is to allow students to experiment with the visualisation tools, as an essential step to understanding the concept behind them. This process will let students realise their value and how to use it in order to find the best solutions to a scenario without simply being told.
Stock data on the digital dashboard - a demonstration
The authors demonstrated the tools available from the digital dashboard of their new book using real-time stock data. Asking students questions about this data and considering how it can affect their decisions on a virtual investment portfolio will prompt them to think around the principles behind the tool and help them understand wise investment options.
This method of experimenting with digital tools also allows for a more constructive discussion in class, which helps them understand the effects of their decisions and analysis.
A Beta version of this dashboard is available for educators to try. Fill out this form before 15th May and explore these tools for yourself.
Emphasising conceptual questions
A final yet essential tip the authors stressed was the importance of teaching contextual questions rather than simply offering students formula practice. Educators should offer conceptual questions that help students understand the principles behind the theory rather than getting them to memorise equations.