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Course Redesign Managerial Finance

Course Redesign Managerial Finance. Dr. Shannon Donovan, Professor, Accounting and Finance, Bridgewater State University s1donovan@bridgew.edu. Back on Myself and BSU. I have been teaching Finance for 21 years, been at BSU for 15 years

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Course Redesign Managerial Finance

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  1. Course Redesign Managerial Finance Dr. Shannon Donovan, Professor, Accounting and Finance, Bridgewater State University s1donovan@bridgew.edu

  2. Back on Myself and BSU • I have been teaching Finance for 21 years, been at BSU for 15 years • Part of the Umass System, largest state university about 11,000 students – 8000 undergrad and 1700 in SoB • Average combined SAT 1050 and avg GPA 3.0 • Higher than average first generation college student, • 95% in state and 75% within 50 miles • Basic first year Financial management – required by for all business major and prereq for all upper level finance courses • I have taught at least one section of this course every semester for past 21 years • Used same book, similar exams and grading policies

  3. Problems in Course • increase the % of students passing the course (18% failing), increase grades of students in course, and decrease the withdrawals (almost 30%) • bring the course online • Have students be more prepared for class, so can spend more time on meaningful, engaged discussions and less time on lectures and quizzes

  4. Traditional vs. Redesigned Course Traditional Course: Redesigned Course: 1. Class Participation and homework (occasional collected/mostly not graded) 10% 2. Problems/ Cases 20% 3. Quizzes (4) 20% 4. Exams (2) 20% 5. Comprehensive Final 30% 1. Class/ Blackboard Participation 5% 2. On line homework 12% 3. Cases/Spreadsheet Projects 20% 4. On line Quizzes (10) 13% 5. Midterm 20% 6. Comprehensive Final 30%

  5. Redesigned Course: What I did? What did I stop? • Stopped collecting any homework – saved me about 5 hr/ per class/ per semester • Stopped giving in-class quizzes – saved me about 10 hr/ per class/ per semester and gave me 3 more hours of class time to teach • Stopped giving 2 exams and a final in class and went to only a midterm and final – saved me 10 hr/per class/per semester and gave me another 2 hours of class time to teach. Saved about 25hr/ per class/ per semester and gained 5 hours of teaching time in class!

  6. Redesigned Course: What I did? What I added? • Added Required Homework and Quizzes for every chapter on MFL – After initial setup, add about 5 hours/ per class/ per semester spent analyzing homework and quizzes for class preparation • Added different cases and projects– Added about 5 hrs/per class/per semester preparing, working with students and correcting • Added discussion board to Blackboard – adds a 10 hours per class/ per semester for onsite and probably about 30 hours/ per class/ per semester for the online class where there is required topic discuss (but no class meeting)

  7. Redesigned Course: What I did? What I added? (cont.) • Added videos to help students with computational issues, especially with the calculator and Excel, as they occur, (sample problems, sample exams, podcasts of study guides) – adds about 5 hr/per class/ per semester but have for future use • Added clickers in class presentations to see if class with me – initial set up time minimal. • Added summary outlines of what students should do to help them organize material

  8. Redesigned Course: What I did? What I added with extra class time? • More time doing the problems in class students were struggling with • More discussion of current issues and finance • More class time to work on projects

  9. Notes on Homework & Quizzes • Review use of MFL day one & again & again • Same due dates • Homework - # times, # problems, after due date • Quiz - # times, amount of time, after due date • Excuses – My neighbor turned off their internet • “I didn’t sign up for an online course” • Cheating • Computer issues

  10. Item Analysis

  11. Item Analysis

  12. Item Analysis • MFLbreaks the assignment or quiz down by problem giving the #correct, # partially correct, #wrong, # didn’t try and how long the students spend on each problem. (Can also break down by student) • Before class I check the latest homework assignment or quiz. I know which types of problems my students were having trouble with and which they are not. • If I wait for questions, many too afraid to ask or only hear from same people. • Once every couple of week, I actually do the problem in MFL. Just to keep reinforcing all the ways MFL can help them and point out rounding directions, etc. • If a student comes for office hours, I can see what they are having trouble with and how much time they are spending on the problems • Now that the homework counts for their grade, the student seek me out for questions to understand how to do the problems. Using MFL has increase the number of questions in class, on BB, and in my office tremendously.

  13. Learning outcomes:(Started using MFL in 2006 and using ever since) • Quantitative Learning Outcomes: Cut withdrawal rate by about a third, and failure rate down from 18% to 11%.

  14. Learning outcomes: Quantitative Learning Outcomes: • Increase # passing course and increase grades: Students are doing their homework and improving their grades.

  15. Learning outcomes: Quantitative Learning Outcomes: • Increase # passing course and increase grades: Students are doing their homework and improving their grades.

  16. Learning outcomes: Quantitative Learning Outcomes: • Increase # passing course and increase grades: Students are doing their homework and improving their grades.

  17. Learning outcomes: Quantitative Learning outcomes: • Brought course online in 2007 and there has been at least two online classes per year ever since, always completely filled • More Finance Majors each year in program and more graduating Qualitative Learning Outcomes: • More prepared and engaged students asking questions • More class time to do directed problems students need • More interesting projects and cases • More time spent on discussion of concepts and current events

  18. Comments of Past Students: • I am glad Dr. Donovan requires us to complete assignments on MFL because it has helped me so much in understanding and remembering how to complete the material. It's a great program and I especially like the instant feedback on my progress. • This was my first experience with online quizzes and homework.  I definitely liked the instant feedback provided by the online homework.  The ability to view examples and get help solving problems is a great feature. • It forced me to sit down and actually attempt the homework, and having the feature to show the steps on how to do the problem was invaluable.  • The "Help me with this problem" is a great addition that helps the student understand even complicated problems.

  19. Where go from here? • Now courses 4 courses at BSU using MFL: Managerial Finance, Personal Finance, Investments, and Capital Budgeting • Standardize – get all Finance faculty and adjunct faculty on board to standardize material and grading of course - assure student get what they need for upper level courses.

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