Are Classroom Games Useful for Teaching ‘Sticky’ Finance Concepts? Evidence from a Swap Game

Abstract

Despite long list of documented games in economics and other disciplines, a lack of literature on experiments in finance teaching suggests that academics in the field of finance may have been slower to embrace the benefits of experimental learning than academics in other fields. This paper contributes in closing the gap. Firstly, it documents an example of a role-play game, which might be used in teaching a ‘sticky’ concept of swaps. Secondly, the paper discusses students’ experiences of the game and provides a summary of the survey results. Finally, the paper contributes to the thin literature of experimental learning effectiveness by presenting evidence on how the participation in the experiment affected learning outcomes in the particular topic.