Collaborative Learning in Finance

and Investment using WikiOsama S M Khan

5th Annual European Real Estate Society Education SeminarVienna University of Technology

Vienna, Austria4 – 5 December 2009

Background Undergraduate Level 3 (final year) optional module in Finance and

Investment that requires rigour and intellectual challenge

Participants tend to be reluctant in group work besides being bored by traditional essay/project writing

Module contents are predominantly designed by lecturers with minimum enquiry-led intervention to encourage curiosity among participants

Lack of assessments involving experiential learning in the curriculum

Lack of professional and transferrable skills integration in the module even at level 3

Consultation Groups

Solution

Employers

Education Experts

Technology Experts

Academics in Finance & Investment

Academics in Finance & Investment

Rigorous technical training with practical implications

Awareness of recent and relevant research literatures

Awareness of current economic and financial climate

Integrated employability agenda: transferable skills, professional aptitude etc.

Education Experts

Enquiry based learning

Collaboration and peer review

Interactive and participatory learning

Higher order cognitive learning

Technology Experts

Use of ULearn: existing virtual learning environment

Use of blogs and discussion forums

Use of digital media

Use of Wiki

Employers

Technically knowledgeable and numerate

Ability to process large amount of information in relatively short period of time: assessment, sorting, screening, evaluation, analysis etc.

Excellent team worker with collaborative approach, team building and leadership

Time management skills

Creative problem solving capacity: adaptability, open-mindedness etc.

Some Existing Literature on Wiki

The effects of using a wiki on student engagement and learning of report writing skills in a university statistics course. Australasian Journal of Educational Technology, 2009, vol. 25, no. 3, p. 382-398, ISSN: 1449-5554. Neumann-D-L, Hood-M

Wiki as a Collaborative Learning Tool in a Language Arts Methods Class. Journal of Research on Technology in Education, Fall 2009, vol. 42, no. 1, p. 51-72, pp. 22, 46 refs., ISSN: 1539-1523. Matthew-Kathryn-I, Felvegi-Emese, Callaway-Rebecca-A

Enhancing managerial competencies through a wiki-learning space. International Journal of Continuing Engineering Education and Life-long Learning, 2009, vol. 19, no. 2-3, p. 166-178, ISSN: 1560-4624. Elia-Gianluca, Margherita-Alessandro, Taurino-Cesare

Wikis to Support the "Collaborative" Part of Collaborative Learning. International Journal of Computer Supported Collaborative Learning, Dec 2009, vol. 4, no. 4, p. 371-402, pp. 32, 0 refs., ISSN: 1556-1607. Larusson-Johann-Ari, Alterman-Richard

Uses and Potentials of Wikis in the Classroom. Innovate Journal of Online Education, Jun-Jul 2006, vol. 2, no. 5, pp. 8, 23 refs., ISSN: 1552-3233. Ferris-S-Pixy, Wilder-Hilary

A Systemic and Cognitive View on Collaborative Knowledge Building with Wikis. International Journal of Computer Supported Collaborative Learning, Jun 2008, vol. 3, no. 2, p. 105-122, pp. 18, 0 refs., ISSN: 1556-1607. Cress-Ulrike, Kimmerle-Joachim

Wiki-based Solution

An assessment trial with 20 students in 2008 – 2009 academic year

5 groups with 4 members each had to complete three projects involving real life data by using dedicated Wiki space

Each of the project was time-bound

Groups were provided with real life data, other relevant information, and basic training on how to use a Wiki

Wiki-based Projects

Constructing efficient frontiers (optimized portfolios) using diversified assets including real estate investment e.g. REITs

Valuation of UK Gilt-edged securities using the UK Debt Management Office formulas for appropriate yield calculation in real estate valuation

Analysis of pre-budget report to identify budgetary impact on small and medium sized firms with regards to real estate investment

Wiki-Based Assessment: An Example

Group Name: Task Masters …

Our group worked very efficiently on the Wiki, we managed a lot of work in such a little time …

Very intensive assignments and tiring. We learnt by exploring ideas and concepts using information and data. Wiki space was “Wicked” … really liked it!

The wiki was not very easy to get on … some more training was needed … liked the fact that we can incorporate anything in our assignment like digital stuff …

Wiki … way to go … really liked the collaborative assignments although too much work for one module …

Participants’ Feedback

Wiki-based Collaborative AssessmentsNotable Outcomes

Participants need to have appropriate training in how to use a Wiki

Assignments needs to be well planned based on real life data and information

Participants need to be encouraged to be creative and analytical

Too many or too long assessments may spoil the charm although semester long continuous work can be set

Lecturers need to facilitate Enquiry Based Learning (EBL)

We have adopted use of Wiki for all participants in this module from this academic year (2009 – 2010) for their group project

Wiki in Academia and IndustryCase Studies at http://pbworks.com

Any Questions?