Course design - Teacher's guide
Lesson plansFree course
The free introductory demo on the Freecourse_Login page includes some short videos. The free introduction demo is developed in the first course Entrepreneurial Economics to an introduction to entrepreneurship and business economics.
Support the activity of the students
A teacher does not need any other prior knowledge of the program than having gone through the chosen practice or game to know what it is about and what to emphasize.
Practice sheet. When going through any of the three practices on the Basic level, write each newly added figure on a practice sheet where it should belong, at each step before answer appears. It is advantageous to add manual exercises. There is a link to a "Practice Sheet for updating the BR and RR" that can be printed (in Facts to these reports).
When a Business Game is undertaken by several groups or individuals in a
classroom, the teacher can sometimes determine that everybody is to save and their
graphic Balance Sheets are compared in order to determine which
office each should select the immediate future, e.g. those who have too much
receivables and short term debts should go to the financial office
or too little inventory go to purchase.
By delegating to the students time is released and the teacher has more time for support and education. It is time saving for the students too with more effective learning in moderate portions. The shortcut to effectual learning lies in shaping an early overall view. The participants can put their own experience in a consistency. All that happens is summed up and related to comprehensive pictures.
Proposals to more lesson plans are available under "Guides"after log in. A teacher can book freely for one session, select one practice at a time.
The brain systems and the pedagogy
- System 1 is always going acting on intuition according to innate and learned patterns. It is quick, intuitive and controlled by emotions. It receives all the information we encounter and it can not be turned off.
- System 2 is called in when a capacity for thinking and extra effort is demanded. It has the ability to do calculations, see alternative consequences and is needed to make good decisions. It is difficult to start, is slow and can easily be shut off. It can only process a limited amount of information at a time. If System 2 gets too much information or too complicated (information overload), it is shut off and goes to rest.
Building understandingThus the information should be well organized and dispensed in moderate doses. As the targets of a course are attained through varying, meaningful and relevant questions, tasks and decisions, they should be clearly distinguishable and not overcomplicated to avoid information overload.
To try is encouraged but not giving upAttempting to answer questions and tasks is awarded points even though the answers are wrong. But not fighting but giving up gives minus points. It is better to find out facts and to try than giving up.
One of the targets, Average Points, should be done to get a diploma. Knowledge is a condition of successful business.
Cognitive science has shown the importance of learning to try and fight in case of difficulties. It is about building positive attitudes and the computer technology can come to help.
Immediate feedbackImmediate feedback after each single issue and decision is a prerequisite of being able to correct thoughts and knowledge. Adequate training with fast and clear feedback is a prerequisite of developing skills and intuitive judgments. Therefore, on the way to a Selling & Finance Diploma you are confronted with events, adventures, decisions, tasks, quizzes and feedback in right doses. You solve problems and get immediate response in report pictures which visualize and put your experience into its context and financial interrelationships which books with exercises cannot do.
OS! This is not fulfilled in common business games where you compete in a market by changing a number of parameters/decisions lumped together, the effects of which are not separated and therefore preclude conclusions. If the individual effects would appear, the game is revealed and becomes meaningless.
Communicate financeControlling economy is much about measuring, evaluating and aggregating information in e.g. key figures. That is then passed out into the operations to create the necessary change. There they are usually not familiar with the financial concepts and get easily information overload in the System 2 of the brain. On the other hand they have a great detailed knowledge of their reality. It is therefore necessary to create an understanding of how the operative details are associated with the aggregated economic concepts.
It's the same at school. If the student does not have built up an understanding by means of a structure into which information can be sorted, information overload can occur. System 2 takes a time out.
Audio and textIf text and audio are presented simultaneously the sight reacts first. The eye want first to obtain an overview and some detailed knowledge. It is an advantage if the sound comes in only when the eye had its day. That is why the audio files do not start automatically more than as an exception. But it is the student who start every audio file in factual texts and decision bases etc.
IntercommunionThe cerebral cortex is divided into the left and right brain with different but interacting functions.
- The left brain takes care of among others the basic skills of speaking, reading, writing and arithmetic. It breaks down and analyzes problems and stands for critical and analytical thinking.
- The right brain on the other side can work in pictures, where the details from the left are assembled in structures and given context and meaning sometimes in a new and creative way. The right part builds up the data from the left part into meaningful pictures and patterns and stands for conceptual thinking.
Do you have to know business economics?In effect life is much about money and economy. But the student can still make clear: Why am I learning this? Does it help me to manage myself better in the world I am? Can it help me to reach the goals and objectives that are important to me?
Daniel Kahneman, mentioned above, has in his book "Thinking, Fast and Slow" reported on his and others' research on thinking and economic decision making. Among others he goes into the importance of an optimistic disposition especially when starting and running businesses. Optimism is the engine of capitalism and optimistic people are often more successful and happier. But they fall often deepest because of overconfidence in themselves.
In this context, two Swedish bankruptcy trustees issued a report based on the experiences of the 1980s, which was one long boom. (Robert Neufeld, Peter Smedman: "Full speed towards insolvency: reading book for entrepreneurs and start-up candidates about overconfidence..."). Despite the good times businesses went bankrupt. Major reasons were the lack of self-knowledge, insight into entrepreneurship, knowledge of business economics and financial connections.
No matter what an organization produces, or a person is working with, according to Kahneman, they are factories making judgments and decisions thousands per day. The road to success means that the process is constantly improved by reviewing the steps from the needs, problems and analysis of alternative options up to decision, implementation and monitoring. The courses cover this and especially problem solving and analysis of alternative options leading to decision.
We are planning to add an Expert level for those who want a usable education that is more complete. If you have opinions, send an e-mail.
- Cash flow analysis II.
- Return and Profitability II.
- Investment and capital requirements II.
- Profit control in Service industries.
- Profit control in Manufacturing.
- Selling and Finance Diploma in a Business game Expert.
The Expert level means specialization in primarily cost, cash and revenue analysis.
From different perspectivesRegard the figure as a round window.
You can vary from which side, left or right, you look through the window. It takes some seconds to switch over the vision. In a corresponding way you tackle problems from many perspectives. Fundamental in finance and in all science is to confront views from different angles and bring essential facts into the estimation. Our mission is to contribute to better knowledge for a better world by a more than twice as effective learning of business economics and financial connections around web-based practices, games and simulations.