Threshold concepts in finance

This thesis investigates staff and student perceptions of threshold concepts in finance to inform curriculum design, pedagogical practices and professional development, and hence improve student engagement and outcomes. Threshold concepts are the essential conceptual knowledge that underpin well-developed capabilities in finance. Finance capabilities are essential in our society and in increasing demand, as indicated by industry trends and recent significant growth in students undertaking finance programs. However, research into what should be taught in finance programs to develop these capabilities is extremely limited. For the first time, this thesis uses threshold concept theory both as a theoretical framework and a research methodology to investigate the threshold concepts that are central to the mastery of finance. Data from a focus group, interviews and questionnaires with finance academics and students are analysed and compared using a combination of qualitative and quantitative techniques. The thesis makes proposals for threshold concepts in finance, locates these within the finance curriculum and investigates the extent to which students are aware of the threshold concepts in finance. In addition, the thesis explores the role of mathematics in finance and the value of threshold concepts for learning and teaching finance as perceived by finance academics. The general applicability of threshold concept theory as a means of curriculum inquiry is demonstrated and critically reviewed.