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  • Teaching Finance in the Post-GFC Environment: Quomodo hic habetur, et Quo hinc?

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    79853_1.pdf (244.4Kb)
    Author(s)
    Copp, Richard
    Griffith University Author(s)
    Copp, Richard I.
    Year published
    2012
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    Abstract
    Despite criticism in the wake of the GFC, history shows that theory and curricula adapt to rectify any disconnects between theory, curricula, and practice. Finance theory unquestionably has antecedents in economics, accounting, legal theory, and psychology. Some theoretical developments-including the moral hazard consequences of limited liability-have yet to filter through to many texts and curricula, which also omit explanations of uncertainty; incomplete and (sub)optimal contracting; contagion; and behavioural finance. Student learning outcomes could be enhanced if universities, perhaps in a final year, cross-disciplinary ...
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    Despite criticism in the wake of the GFC, history shows that theory and curricula adapt to rectify any disconnects between theory, curricula, and practice. Finance theory unquestionably has antecedents in economics, accounting, legal theory, and psychology. Some theoretical developments-including the moral hazard consequences of limited liability-have yet to filter through to many texts and curricula, which also omit explanations of uncertainty; incomplete and (sub)optimal contracting; contagion; and behavioural finance. Student learning outcomes could be enhanced if universities, perhaps in a final year, cross-disciplinary "capstone" course, empowered students to understand the financial documentation evidencing sophisticated transactions; map relevant cash flows and wealth transfers; and recognise Ponzi schemes, the ethics of stakeholder wealth transfers, the conditions for contagion, and incentives for adverse selection and moral hazard in practice.
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    Journal Title
    Journal of Business Ethics Education
    Volume
    9
    Publisher URI
    http://www.neilsonjournals.com/JBEE/abstractjbee9copp.html
    Copyright Statement
    © 2012 Neilson Journals Publishing. The attached file is reproduced here in accordance with the copyright policy of the publisher. Please refer to the journal's website for access to the definitive, published version.
    Subject
    Financial Economics
    Economics, Business and Management Curriculum and Pedagogy
    Law and Legal Studies not elsewhere classified
    Specialist Studies in Education
    Business and Management
    Marketing
    Publication URI
    http://hdl.handle.net/10072/47363
    Collection
    • Journal articles

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