Home | Research | Teaching | Explore |
Contact Intro |
Publications My Ph.D. |
Courses Teaching philosophy |
Personal Blog |
My teaching philosophyI believe that… The world does not care
what you know; it only cares, and will only pay for, what you can do with what
you know. Today, with
so much information easily accessible on Google, there is less and less interest in how you
acquired the competence and more in proof that you have in fact mastered the
competence. In my
class, my primary concern is that you master the fundamentals and basic tools of
finance. I care that you understand why you are using them. I care that you
understand how to apply them in real life. I care that you become aware of the
limitations of what you know. “Education is not the learning of facts but training the mind to
think” Albert Einstein I do not
expect you to remember every detail. One year after the class has ended, you
will have forgotten most of them. I will have too. In my
class, I will try to help you learn the main financial logics that will allow
you to reactivate your knowledge of finance tools at any time in your
professional career. I care
that you develop a critical thinking aptitudes. I care that you will be able,
not only to answer questions but to ask good questions. Everything
in finance is questionable. I care that you develop your own philosophy of
finance. Finance
will never be an exact science; it deals with human behavior and future. My class
will probably leave you with a lot of doubt and very few certainties. You may
find other finance courses where financial models appear to work and fit
together in a perfect way. Finance will seem well structured as an exact
science and the world will seem a happier place, which may help some people
sleep better (but the awakening following the next financial crises could be rude). In my
class, you will learn not only what works but also what does not work. The real
world is a lot more complex than the one described by models. As a field of study, Finance has strong
roots in scientific fields such as statistics and mathematics. Many modern
financial theories draw heavily on the laws of statistics and resemble
scientific nomenclature. However, the financial industry also includes
non-scientific elements that liken it to an art. “Two factors move the market: fear and greed”.
An old Wall Street adage 1. Finance deals,
above all, with the preferences of economic actors (investing, buying, saving …), human
emotions (fear, greed, optimism, insecurity...), as well as
psychological bias (overconfidence, risk perception, pride and regret …). There is no denying the fact that
human emotions (and decisions made because of them) play a primary role in many
areas of the financial world. It’s difficult to
design a formula that takes all factors of human behavior into consideration. Using
models is recognizing our powerlessness to grasp all the aspects of human
behavior. “It’s difficult to make predictions, especially about the future” Yogi Berra 2. Finance deals with
the future. Most of financial decisions are based on expectations, namely the Expected
Return. In other words, all the decision process is built on assumptions which brings
probability theory to the heart of the study
of finance. I believe
that keeping this idea constantly in mind will
help you assess where you tread on safe grounds and where you do not, and will
help you make better decisions. Students learn best when
they construct their own knowledge through exploration and discussion. “Teachers
open the door, but you must enter by yourself” A Chinese proverb “There are no stupid questions, only stupid
answers” Unknown It is
crucial to incite students to be active contributors in the classroom and take
responsibility for their own learning. It is also essential that each student be
publicly recognized for his or her strengths and contributions and given
credibility within the classroom. This makes the classroom a safe place where
students can publicly express pertinent reflections and feel comfortable taking
the risk of making mistakes. Engaging students in the
learning process is the first step in effectively managing a classroom Managing
people is a difficult and complex mission. The classroom should ensure a
certain discipline, but it should also be fresh and exciting - and finding the
right balance is not easy. The main causes of off-task behavior are frustration
and boredom. By tailoring each lesson and assignment to students’ strengths and
needs, clarifying the purpose of each lesson, and connecting the material to
students’ lives, the need for discipline could virtually be eliminated. An effective teacher is
always a student. “Once you
stop learning, you start dying”. Albert Einstein I had
never learned as much as I have since I began teaching. Being a teacher means never-ending
dissatisfaction and the deep-seated conviction that there are always new
questions to explore and new ways to improve and refine teaching practices. My
greatest satisfaction is to wake the curiosity of students. My personal reward
is to see the greatest possible number of students passionate about finance
problems and get involved in the debate. My hope is that my students, in their
professional lives, will think carefully about the impact of their financial
decisions on all stakeholders and collective interests when making decisions. |
|||
Web site of | Fahmi Ben Abdelkader |