Business simulations in financial management courses: Are they valuable to learners?

Abstract

Business simulations are increasingly used to facilitate knowledge transfer in management education. Although such simulations have already been widely applied in other disciplines, this method of facilitating learning has not yet been used much in financial education. This article reports on three studies that examine the value added by this experiential learning method in a financial management course, as perceived by students. The reasons for students’ experiencing this teaching method as positive are investigated. It would seem that financial education has much to gain from a wider application of business simulations.