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ERIC Number: EJ1167343
Record Type: Journal
Publication Date: 2013
Pages: 31
Abstractor: As Provided
ISSN: EISSN-1835-9132
Mathematics in Finance and Economics: Importance of Teaching Higher Order Mathematical Thinking Skills in Finance
Tularam, Gurudeo Anand
e-Journal of Business Education and Scholarship of Teaching, v7 n1 p43-73 2013
This paper addresses the importance of teaching mathematics in business and finance schools of tertiary institutions of Australia. The paper explores the nature of thinking and reasoning required for advancement financial or economic studies involves the use of higher order thinking and creativity skills (HOTS) for teaching in mathematics classes. The paper demonstrates how various skills required in finance are related to the mathematical way of thinking and reasoning. The 2007 global crisis has focused attention on financial thinking generally and mathematics teaching of finance in particular for the lack of skills by finance personnel. This could be addressed through student learning and teaching by reshaping business schools to include well designed financial mathematics courses that are compulsory, in degree programs. The mathematical reasoning patterns, thinking, explanations, simplifications required in transfer of knowledge to students is effectively taught if experts in the field are explicating or presenting proofs. The essence of the conceptual development of models and their assumptions and solutions requires training beyond those of the non-mathematics personnel, mainly due to their lack of years of time spent on such mathematically work. If the methodology described is adhered to our future business and finance students could be afforded a better educational experience in mathematical thinking and reasoning as well as higher order thinking and creative skills in their courses and degree programs.
Australian Business Education Research Association. PO Box 408, Mapleton, Queensland 4560, Australia. e-mail:; Web site:
Publication Type: Journal Articles; Reports - Research
Education Level: Higher Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Identifiers - Location: Australia
Grant or Contract Numbers: N/A