A reflection on the use of podcasts on Management of Business Finance, a core final year Business Studies module

1. A reflection on the use of podcasts on Management of Business Finance, a core final year Business Studies module Mary Kelly Department of Accountant Ulster Business School

2. Motivation • New module co-ordinator • Pass rate of 65% • Conversation with an ex-colleague

3. Overview and Context Management of Business Finance is a core module at level three of the Bachelor of Business Studies, with 115 students registered on this module. The module looks at a range of topics pertinent to a manager operating in business and involved in decision making including, investment appraisal, sources of finance and managing working capital.

4. Investment appraisal? Working capital management? Dividend policy? Cost of capital? Portfolio theory? Business students have historically found this module very difficult, and in particular, developing the skills and confidence to evaluate, and present a range of financial options.

5. Educational podcasts Some early evidence and thoughts. N Robson and J Greensmith International Journal of Management Education 2009,8 (3)

6. Research Use of podcasts for an accounting module (Managing Finance) for Undergraduate business students at the University of the West of England

7. Research • Students have an increasing interest in podcasts for teaching and learning (Nie, 2006) • Students have indicated that they may be a valuable revision tool (Evans, 2008: Waraich, 2008) • “More effective than revising from textbooks” (Evans, 2008)

8. Research • Opportunity for mobile learning. Offers a “higher degree of lifestyle integration”. (Lee and Chan, 2007) • Studies on the effectiveness of multi-media indicate that information received via one sensory channel is not processed and stored as well as information received from two. (Mayer and Moreno, 2003)

9. Rationale  The module content was reviewed at the start of the module preparation with the objective of identifying ways and opportunities to provide students with additional on-line support to enhance their learning. It was felt by the module team that there was scope for supporting the students in acquiring the knowledge and developing technical skills with the selective use of podcasts.

10. Objectives The objective of the podcasts was to provide an opportunity for the students to learn in their own time and environment, at an appropriate pace, with the use of podcasts illustrating and evaluating the techniques applied. High attendance at lectures (90%+) but poor attendance at seminars (40%-50%)

11. Approach Four podcasts have been introduced to students on two of the seven topics of the module. These are the technical/numeric topics (Investment Appraisal and Interpretation of Financial Statements) The podcasts were made available at times to enable the students to prepare for an in-class test (2 podcasts) and for revision focus for the end of term examinations (all podcasts)

12. Approach • Audacity 1.3 – free download • Headphone • Audio podcasts - 5-7 ,minutes long • No music – very simple • Supported with word files containing the questions and answers

13. Challenges •  Challenges encountered to date include attaining a level of understanding of the technologies available to use and developing the necessary range of skills to complete a podcast. • Embarrassment when listening to my own voice • Misuse of the recordings

14. Challenges An unexpected problem has been the difficulties experienced by the students in accessing the podcast on campus and off campus. This lead to the need for additional support from the information technology staff at the Ulster Business School.

15. Student survey Questionnaire 71 students completed the survey in week 12 of the semester

16. Results • 65% of students surveyed accessed the podcasts up to week , a total of 282 times, culminating in nearly 24 and a half hours of student access time. • An additional 14% intend to use the podcasts as part of their revision • The number of times the podcasts were accessed as part of the revision period i.e. in the four weeks leading up to the examination, was 360 times , a total of 18.85 hours of student time.

17. Results • 93% of students accessed the podcasts up to 5 times, with 51% accessing up to 3 times • 83% deemed the podcasts the appropriate length, with 17% stating it was too short • 91% found the pace to be appropriate • 96% believed the content to be set at the right level, not too technical or too academic.

18. Results • 13% of students surveyed could not access the podcasts, citing reasons as not having headphones or unable to access. • 74% of students accessed the podcasts from home only with 9% accessed the podcasts exclusively on campus. All used a computer. • 17% used both locations

19. Results • 78% of students surveyed said that the podcasts helped their learning, with 50% stating an extensive improvement • 98% of students would like to see more podcasts used across all modules and in particular the accounting and finance modules

20. Student Feedback “they are good as they are” “think they were very good” “really helpful” “more would be beneficial”“well detailed” “was fantastic – would be good if incorporated across all modules but particularly number based” “use simpler English” “I think it is great and all modules should use it”

21. Conclusions Additional podcasts targeted at appropriate areas and times Support and information to students using podcasts at home Department log of podcasts

22. Next step • Use of screen casts • Audio and visual