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MARKET DRIVEN PEDAGOGY
OF FINANCIAL ECONOMICS DECISIONS FOR
RAPID PRODUCT REVISION
EDITORS:
MATTHEW GOLDMAN KIMHER LIM
HAZRI JAMIL
NORDIN ABDUL RAZAK
USM SES
2014

Foreword
Edited to motivate consolidation for learning of financial economics decision for engineering and
non-engineering business decision-making, this book aims to improve graduates’ success at job
interviews by focusing on decision-making skills that the market wants.
Eight interlinked papers from peer-reviewed journal articles began by addressing the current global
situation of graduates’ employment that arises from mismatched of pedagogy and industries’ demand.
Following the introductory paper, a key paper on taxonomy discussed the current six level practices.
Given that technological advances influence taxonomy, facilitation for learning was influenced in a
new dimension, hence the need to harmonize taxonomy and technology by a revision initiative. To
benefit quantitative research in higher education, the specific Repeated Measure design methodology
re-dimensioned analysis after performing a data mining procedure to filter relevant motivational items
for learning and teaching by taking stock of global youths’ employment. The next paper rationalizes
human capital needs for skills that are market driven by industries’ desire for graduate with decision-
making capabilities. This then is followed with a paper on how new generation of graduates’
motivational wish for instructional pedagogy delivery are technologically centered and certification of
skills justify their abilities.
Research students who would teach tertiary programs related to basic financial economics to both
engineering businesses and non-engineering businesses are the main readers. Fresh graduates might
benefit extra knowledge from the material to assist their employability as well as current higher
educationists while professionals might find usefulness in mentoring their staff. Education technology
developers intending to enhance their sights into designing learning systems are advisable to read the
whole material to piece ideas together according to their individual styles in approaching system
development.
A key paper on taxonomy discusses the current practice with common basic descriptive decision-
making cases expected by industries. Given technological advances, taxonomy enhancement for
learning is by facilitation; hence, an initiative to harmonize taxonomy by a multi-disciplinary
approach to instructional pedagogy with design of a computer assisted instructional learning direction.
An example by means of a storyboard relates a case to reinforce understanding thinking skills in
financial economics decisions.
Annexures I and II are meant to transpose knowledge from Paper 1 to 6 into practice with a
storyboard about an automotive industry to exemplify learning. This storyboard can operate as
template to adapt other industries. Some ideas of computer assisted instructional pedagogy design
intent are expressed in Annexure II with development schema for prototyping a database for computer
assisted instructional pedagogy design. Instructional pedagogy system developers might want to take
cue from some high level schema in Annexure II, although they would need to input their
imagination.
Because the contents are meant for a diverse audience from educational research to instructional
pedagogy for both engineering business students as well as financial economics students, each
audience segment would find interest in particular papers.

About the editors/authors
Dr. Matthew Goldman Kimher Lim
Dr. Lim graduated his PhD from University Sains Malaysia. He had previously earned an
Engineering master degree in manufacturing management from the University of South
Australia and a master degree in international banking from Heriot-Watt University shortly
after completing a degree in Management Systems from Lakehead University. Dr. Lim had
directed and taught twinning/professional programs in Commerce and Accounting at various
universities in China for five years having led previous five years of manufacturing seminars
at the Federation of Malaysia Manufacturer Institute. As part of his eight years techno-
preneurship consulting experience, Dr. Lim had just begun a database engine incubation
initiative to assist development of instructional pedagogy for teaching technical professionals
about financial economics decisions. This initiative had leveraged upon his previous sixteen
years at senior management of multi-nationals and conglomerates in Asia, Australia and
Europe.
Dr. Hazri Jamil
Dr. Hazri graduated his PhD from Sheffield University. Currently he is Deputy Dean in
School of Educational Studies, USM and supervises postgraduate researches in education
policy, teacher education and curriculum pedagogy. As Associate Professor, he specializes in
the areas of Educational Policy, Sociology of Education and Curriculum and Pedagogy, with
Universiti Sains Malaysia. His research contributions include publications of books and
articles in international journals as well as at international conferences. Dr. Hazri has vast
experience in teaching and supervision the areas of educational policy study, sociology and as
well as curriculum and pedagogy.
Dr. Nordin Abd. Razak
Dr. Nordin is an associate professor with the School of Educational Studies, Univ. Sains
Malaysia. He received his PhD from Flinders Univ., Adelaide, South Australia. His expertise
is in educational management and leadership. Dr. Nordin is Exco Member of Malaysian
Psychometric Association, Reviewer for Frontier Psychology [Frontiers Psychology Editorial
Office [psychology.editorial.office@frontiersin.org]. His teaching and research interests are
in applied statistics and data analysis, measurement and organizational behavior from socio-
psychological perspective.
Correspondence
Dr. Matthew Goldman Kimher Lim
limkimher@gmail.com

i
Acknowledgement
The editors wish to thank the Ministry of Higher Education for funding the following papers
and this monograph with the ERGS research grant
Certification Paradigm of Johari Window Human Capital (International Journal of
Innovation, Management and Technology, 4(3), 303-312
Lim, M.G.K., & Hazri, J.
Taxonomy of Financial Economics Decisions – A Revision Initiative International
Journal of Innovation, Management and Technology, 4(3), 376-385.
Fortified Force Field Analysis with Data Mining of One-Way Repeated Measure
ANOVA . International Journal of Innovation, Management and Technology, 4(3),
331-340.
Lim, M. G. K. & Nordin, A. R.
Enhancing Graduates’ Employability with Market Driven Pedagogy of Financial
Economics Specific Skill for Decision Making. International Journal of Innovation,
Management and Technology 3(3), 136-145
Market Driven Training of Financial Economics Specifics for International Order
Winners. 2rd Proc. of International Conference on Education and Management
Technology. Vol (13). pp. 49-53. Shanghai: IACSIT Press.
Lim, M.G.K., Hazri, J, & Nordin, A. R.
Market Driven Pedagogy of Financial Economics for Rapid Product Revision
Decision. 2nd Proc. of International Conference of Finance and Management
Science pp. 532-536. Zhengzhou: IACSIT Press.
Lim, M.G.K., Hazri, J., & Nordin, A. R.
The editors also wish to thank IACSIT Press, Singapore for explicit permission to reproduce all
articles published in its journals and conference proceedings in a separate format.

ii
Organization
The publication addresses the concept and ideas of pedagogy as motivational element for
consolidating learning of financial economics decision for decision-making. This monograph
tells a story of the extra knowledge about decision making that graduates must have to ‘GET
THE JOB’. The story starts with graduates’ inability to pass job interviews because they
often stumble at interview questions, which test their decision-making skills that the market
wants and which market, had repeatedly mentioned its expectation from graduates. This
monograph aims to bring graduates quickly to realize commercial decision-making
expectations, which is the ability to address three basic high value questions.
Eight interlinked papers began by addressing the current global situation of graduates’
employment that arises from mismatched of pedagogy and industries’ demand. Following
the introductory paper, a key paper on taxonomy discussed the current six level practices.
Given that technological advances influence taxonomy, facilitation for learning was
influenced in a new dimension, hence the need to harmonize taxonomy and technology by a
revision initiative. To benefit quantitative research in higher education, the specific Repeated
Measure design methodology re-dimensioned analysis after performing a data mining
procedure to filter relevant motivational items for learning and teaching by taking stock of
global youths’ employment. The next paper rationalizes human capital needs for skills that
are market driven by industries’ desire for graduate with decision-making capabilities. This
then is followed with a paper on how new generation of graduates’ motivational wish for
instructional pedagogy delivery are technologically centered and certification of skills justify
their abilities.
The contents are mostly adopted from peer-reviewed journal articles organized to flow
as best possible. Paper 1 began this monograph with a student-friendly story about
graduates’ summons for employability led pedagogy. Going next into taxonomy, rational
provided by Paper 2 mentioned how construct of FED knowledge and technology might
drive FED taxonomy revision; partly due to discovery made about Generation Z’s graduates
learning inclination by a method elaborated in Part 3 thereafter Paper 4 identified new
information about learning for Paper 5 to discuss how Generation Z wants to learn. Paper 6
rationalized a certification paradigm to acknowledge enhanced human capital.
Annexures I and II are meant to transpose knowledge from Paper 1 to 6 into practice
with a storyboard about an automotive industry to exemplify learning. This storyboard can
operate as template to adapt other industries. Some ideas of computer assisted instructional
pedagogy design are intended into Annexure II with development schema for prototyping a
database for computer assisted instructional pedagogy design. Instructional pedagogy system

iii
developers might want to take cue from some high level schema in Annexure II, although
they would need to input their imagination.
Readerships
To enable wider readership, the organization of each paper began with linking continuation
from the previous paper. Market Driven Pedagogy of Financial Economics Decision is for
graduate and postgraduate levels as well as in executive education and corporate training
programs. A prerequisite course or experience in corporate finance, industrial pedagogy and
automotive manufacturing would be ideal for the early papers. Being pedagogical intent, the
main readers are post grad research students who would teach tertiary programmes related to
basic financial economics to both engineering businesses and non-engineering businesses. Fresh
graduates might benefit extra knowledge from the material to assist their employability as well
as current higher educationists. Current professionals might find this monograph useful to assist
mentoring their staff. Education technology developers wishing to enhance their insights into
designing learning systems are advisable to read the whole material to piece ideas together
according to their individual styles in approaching system devleopment although the writer uses
the Gane Sarson approch in sketching the schema related to Excel and Access.

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TABLE OF CONTENTS
Acknowledgments
Organization
Readerships
Table of Contents
List of Tables & Figures
List of Acronyms
Page
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iv
viii
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PAPER 1 Enhancing Graduates’ Employability with MDP
Matthew Goldman Kimher Lim & Hazri Jamil
Abstract
Introduction
General Background
Specific CRM Background
Issues Relating to Education for Employability
Mismatched pedagogy
Deficient economies of scale
Demands for FED skills
Impending human capital shortage
Education for employment
Generation Z’s view in learning
Pedagogy research gaps
Some Employability Resolutions
A Scalable Program with CPD and WIDE
Point of Entry into FED
Concluding Remarks
1
1
2
3
5
5
7
8
9
9
11
13
14
15
18
19
PAPER 2 Taxonomy of FED – A Revision Initiative
Abstract
Introduction
Background
FED Pedagogy Review
Pedagogy of FED Skills
FED Taxonomy Base
21
21
23
25
27
28

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Level-1: Knowledge
Dimension of ‘What’
Dimension of ‘How’
Dimension of ‘When’
Synthesis of ‘WHW’ dimension
Level-2: Understanding
Level-3: Applications
Level-4: Analysis
Level-5: Synthesis
Level-6: Evaluation
FED Taxonomy: Revision Initiative
Four levels initiative
Schema descriptions
Concluding Significances
30
32
33
33
34
35
35
36
37
37
38
39
41
42
PAPER 3 Methods Discover Learning
Matthew Goldman Kimher Lim
Abstract
Introductory Theoretical Framework
Set theory
Structural functionalism
Re-dimensioning variable
Force Field in motivation for learning
Synthesis of motivation from constructivism and behaviourism
Ethos in formal lessons, CPD and WIDE
Learning styles
Qualifying Assumptions & Justification
Research Design, Analysis and Challenges
Samples and Sampling Procedures
Instrumentation
Procedures to Conduct the Study
Treatments
Data collection/collation
Data preparation and harmonic means
Data Mining Methodology
Concluding Remarks
44
44
45
46
47
48
49
52
54
55
58
61
62
64
64
65
66
68
68

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PAPER 4 Data Mining Generation- Z Preference for Learning Style
Matthew Goldman Kimher Lim & Nordin A. Razak
Abstract
Introduction
Selection: OWRM Empirical Database
Processing: Data Conversion Procedure by Delphi
Transformation : Correlation and Ranking SVs
Cognitive: concept map, decision tree & knowledge retrieval
Affective: facilitation, seminar & workshop
Conative: career, personality & social functionalism
Social: internship, CPD & reporting
Mining : Analysing Motivation for Learning
Identifying Motivational Variables’ Performance
RANOVA with Paired T-test and Bayesian
Pareto distribution analysis of SVs
Gender comparison analysis
Interpretation/Evaluation
Convergences
Divergences
Consistencies
Observation of carryover-effects
Short Comings of the Study
Concluding Remarks
69
69
71
72
77
78
81
83
85
88
89
94
95
98
101
104
105
105
105
105
106
PAPER 5 How Generation-Z Wants to Learn
Abstract
Introduction
Concerning Graduates as Stakeholder
Process to determine motivational variables for FED pedagogy
New knowledge discovered about learning
Motivation for learning
Motivational variables order of importance
Decision-making for employability
Gender’s motivation to pedagogic delivery design
Learning styles
109
109
109
109
110
112
114
116
119
119

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Additional information from external sources
Concerning CPD as Industry Stakeholder
Professionalism and written communication
Instructional pedagogic design from structural functionalism
Concerning Higher Education as Stakeholder
Perspective of interns’ human capital value
FED education prospect in relations to MDP
Proposed MDP model
Combinatorial Summative Statement of the Research Finding
Theoretical and Practical Implication of the Study
120
121
121
122
124
124
125
125
126
PAPER 6 Certification Paradigm of Johari Window Human Capital
Abstract
Introduction
Johari Window Balance Sheet
Efficiency
Profitability
Solvency
Marketability
Decision Making Ability Enhances Human Capital
Variations of Learning Skills
SEE-I Paradigm
State: reasons for graduates’ certification
Elaborating: motivating graduates certification
Exemplifying FED competency
Illustrate: professionalization
Concluding Remarks
133
133
133
135
136
136
137
137
138
140
141
144
145
146
146
ANNEXURE I: An Automotive Storyboard
Introduction
Assumptions
Macro Situation – Enter a Small Car Industry
Key Observations of Assembly Practice
Standard Operating Procedures
148
148
149
152
152

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Rack Kanban triggers
Systematic parts replacement
Line control
Lot traveller and lot journal
Intelligent 11M database for Pseudo Parts Data Management
Micro Situation - Engineering Change
Pedagogic Reminders
Propositions
154
155
155
156
157
158
159
159
ANNEXURE II: Cluster Research & Development Initiative
Author: Matthew Goldman Kimher Lim
Introduction
Assumptions
High Level Schema
Schema description
Selective explanation within sub-systems boundaries
Concluding Ideas for Technical Professionals
161
161
161
161
166
166
References 167
LIST of TABLES & FIGURES
PAPER 1
Table 1 Summary of Survey Results
Figure 1 Random online surveys of GZ perception
Figure 2 The current Tri-Educational Program (TEP) schedule
PAPER 2
Table 1 Legends for Figure 2
Table 2 Four Levels and Best Practices in Industries
Table 3 FED Structured Concept Mapology Taxonomy
Figure 1 FED content epitome
Figure 2 Master concept map for system development based on
proposed revised taxonomy
PAPER 3
Table 1 Dimensions of Learning and Teaching Styles
Table 2 Sample Demography
Table 3 Computation Procedure for Pedagogy Index (IV) before
4
13
19
32
40
42
29
31
54
56
57

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conversion
Table 4 One-Way Repeated Measures Design Method
Table 5 Statement of Analysis Methods
Table 6 Research Questions for Research Objectives
Table 7 Challenges and Resolutions
Table 8 Interns’ Behavioural Dimension Items
Table 9 Interns’ Constructive Dimension Items
Table 10 CPD Dimension Items
Table 11 Procedures for RANOVA
Figure 1 Theoretical framework of the study
Figure 2 Datasets before and after conversion
Figure 3 System flowchart of the methodology
PAPER 4
Table 1 Database of Interns’ Harmonic Means (Hµ) Summaries
Table 2 Database of CPD Hµ Summaries
Table 3 Computed Pedagogy Index (IV) before conversion
Table 4 Re-categorized Database Summaries
Table 5 Worksheet for Computing Correlation of Rating &
Ranking between 1st & 3rd Recording ( Career SV is used
as example)
Table 6 SV Analysis: Concept Mapping, Decision Tree &
Knowledge Retrieval
Table 7 SV Analysis: Facilitation, Seminar, and Workshops
Table 8 SV Analysis: Career, Personality & Structural
Functionalism
Table 9 SV Analysis: Internship, CPD Companies & WIDE
Table 10 Matric worksheets for RANOVA
Table 11 Matric Result of Paired T-test and Descriptive Stats
Table 12 RANOVA Information
Table 13 Comparative Pedagogy Index Before and After Conversion
Table 14 Summaries of Sub Variables’ Rating & Ranking
Correlations
Table 15 Comparative Ranking of Importance by Interns and by CPD
Table 16 Permutation of Pedagogy Index
Table 17 Statement of Variables’ Top 20% Rank after 1st and 3rd
Recording
59
60
60
61
63
63
63
67
45
46
67
70
70
71
74
77
80
82
85
87
90
93
94
97
98
99
100
103

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Table 18 Corresponding Table Reference to Statement of Findings
Figure 1 SV Analysis: concept mapping, decision tree, &
knowledge retrieval
Figure 2 SV Analysis: facilitation, seminars and workshops
Figure 3 SV Analysis: career, personality & structural functionalism
Figure 4 SV Analysis: internship, CPD companies and WIDE
Figure 5 Side-by-side comparisons of pedagogy growth by Pareto
distribution
PAPER 5
Table 1 Extracts of CPD Companies & Reporting SV Ranking
Analysis 1s & 3rd recording
Table 2 How Young People Prefer to Learn
Table 3 Extracts from Facilitation SV Analysis after 1st & 3rd Recording
Table 4 Combined Summaries of Research Objectives, Questions,
and Findings & Discussion
Table 5 Extracted Comparative Pedagogy Index after and before
Delphi
Figure 1 Primary keywords inter-relationships
Figure 2 High-level schematic Market Driven Pedagogy Model
PAPER 6
Table 1 Financial Balance sheet (FBS)
Table 2 Johari Window Balance Sheet (JBS)
Table 3 Consolidation of Most Variables
ANNEXURE I
Table 1 Lot Traveller Summary
Figure 1 Macro schema of automotive economics industry
feasibility
Figure 2 Level-2 financial economics factors affecting BEEE
Figure 3 SOP summary procedure in a pseudo PDM
Figure 4. Pull effect using rack kanban trigger
Figure 5. Result of wastages
Figure 6 Example of a part engineering change
Figure 7 Bird’s eye view of a car manufacture / assembly
ANNEXURE II
Table 1 Cross Reference of Information Location
Table 2 Legends for Figure 1 to Figure 6
107
79
81
84
87
96
113
123
124
127
131
112
126
134
134
140
157
150
151
153
154
155
160
160
162
164

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Table 3 Selective Explanation within Sub-system
Figure 1 High-level schematic FED system design and development
Figure 2 Master concept map for system development based on revised
taxonomy
Figure 3 11M dataflow
Figure 4 Level-0 process flow for development of integrative worksheets
interfaces
166
162
162
164
165

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LIST OF ACRONYMS
ACCA Association of Chartered Certified Accountants
BEEE Break Even Economics Equilibrium
CAI/CAL Computer Assisted Instruction / Computer Assisted Learning
CI Catalyst Initiative
CKD Complete Knocked Down
CPD Continuous Professional Development
CRM Corporate Relationship Management
DIAD Data Immediate Access Diagrams
DQC Deming Quality Circle
DV Dependent Variable
ERGS Exploratory Research Grant Scheme
FE Financial Economics
FED Financial Economics Decisions
FEI Financial Economics Institute
FFA Force Field Analysis
FIS Formal Instructional Support
GDP Gross Domestic Product
GZ Generation Z
HE Higher Education
HIPO Hierarchy of Input Process Output
HKPU Hong Kong Polytechnic University
HPCI Hewlett-Packard Catalyst Initiative
ICAEW Institute of Chartered Accountants England and Wales
IFC International Finance Corporation
IRR Internal Rate of Returns
IV Independent Variable
JIT Just In Time
MDP Market Driven Pedagogy
OWRM One Way Repeated Measures
PDCA Plan-Do-Check-Action
PDM Parts Data Management
PI Pedagogy Index
PRC Peoples’ Republic of China
QCF7 Quality Credit Framework Level 7 (equivalent to master degree)
RAID ‘Reflect, Act, Impact, Declare’, RAID’ approach
RANOVA Repeated Measures Analysis Of Variance
RO Research Objective
ROI/ROE Returns On Investment / Returns On Equity

xiii
RQ Research Question
SCM Supply Chain Management
SOP Standard Operating Procedure
SSADM Structured System Analysis & Design Methodology
STEM Science Technology Engineering Mathematics
SV Sub Variable
TEP Tri Educational Program
WACC Weighted Average Cost of Capital
WHW What How When
WI Work Instruction
WIDE Work Integrated Dissertation Effort
WIP Work In Progress
WTO World Trade Organization
WU Warwick University

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PAPER 1
Enhancing Graduates’ Employability with Market Driven Pedagogy of Financial
Economic Decision Making Skills
Authors: Matthew Goldman Kimher Lim and Hazri Jamil
Adapted from International Journal of Innovation, Management and Technology 3(3), 136-145
Abstract— the meaning of market driven discussed to set a background of employability.
Global issues and resolution of youth’s unemployment identified, that to enhance specific
graduates’ employment prospect, this paper suggest better integration between tertiary
education and industry’s requirement. With more effective interlinks with a scalable TEP,
selective prior basic knowledge with a closely monitored CPD and WIDE, might formulate the
FED pedagogy. The pedagogic aim was to develop graduates with constructive FED skills
abilities to address three high value questions in this fast informative era that treats money as a
tradable resource commodity for increased ROI. This is to be made upon optimized risks within
reliable high value information and within options having known the opportunities presented,
the money quantum needed and the expected time for ROI and ROE.
Introduction
To enhance specific graduates’ employment prospect, this paper argued that integration
between tertiary education and industry’s requirement might be more effectively interlinked
with a MDP that consist of a scalable TEP approach; has CPD and WIDE as unison of knowing
with doing (Orlich et al., 2009). TEP’s objective was aimed at consolidating selective prior
knowledge by developing interns with FED skills that market wants (Mourahed, Farrell, &
Barton, 2012, p.18). The section on issues discussed set a background of employability
highlights along with global issues in youth’s unemployment and as resolutions in few
countries. Using the TEP configuration to coin the MPD cconcept, MPD sets a background of
employability by identifying global issues in youth’s unemployment and resolutions.
Within TEP, the case instructional engagement method for theoretical practices and
higher level thinking development with the flow concept and expected value tree knowledge
mapping techniques (Derbentseva et al., 2006; Arun, 2006) relevant for practicing FED. This
might formulate an aim to develop constructive decision making in FED students. Within TEP,
the purpose of both concept and knowledge mapping techniques were to develop specific
overarching aim of FED capabilities of ‘WHAT’ have been identified as market driven
opportunity, ‘How’ have measures and tracking returns on equity performed, and ‘WHEN’
have money plan realised. Accordingly, interns with analytical skills were demanded by the

2
employment market. Therefore, capability in the three high value proposition dimensions of
‘WHAT-HOW-WHEN’ referred to incapacitating interns’ ability to participate in deriving
optimum returns within reliable high value information and risk diversification options. With
the aim to incapacitate interns’ analytical skills to meet employment market’s demand,
therefore a MDP for FED as one route by HE to serve industry. Instructive pedagogic
strategies then might be in accordance to the instructor’s own philosophical beliefs of
instruction governed by learners’ background, knowledge and experience, situation, and
environment in addition to learning outcome. Therefore, in this context, the learning outcome
from TEP might be FED ability that offer combinatorial instructional methods to 1) consolidate
prior leaning, 2) practice theories and 3) relate theories to practice.
The purpose of developing FED skills with TEP which has CPD and WIDE, was to
capacitate ability to participate in deriving the best possible ROI/ROE through a revised
taxonomy that apply purposive concept maps and workflow retrieval techniques. Expanding on
Merton’s (1997) Nobel Lecture and Sharpe (2011), FED in the context of this paper, money
became a resource commodity to trade for higher expected future money value that meets ROE
within acceptable informed risk level. The higher the desire expected future money, the greater
might be the risks to manage by eliminating uncertainties through reliable and confirmable
good value information. Along this elimination process, one identified options available to
hedge against uncertain risk by diversifying money resources on hand to different asset classes,
projects or products that have more definite certainties that meet one’s desired expected future
money value.
General Background
A study by Ng et al., (2011), suggested that a market-driven education system have to produce
work-ready graduates who must possess attributes that industries demanded; decision-making
skills were among companies’ top five expectations (Hairi et al., 2011). Graduates are taught
subjects that required them to reflect how to apply their prior learning to bridge the missing link
that might enhance their employability (Johnson, 2012). Hartley (2003) commented that new
economy needed new pedagogical response, failing which youth’s capital might depreciate.
Hartley’s response appeared to have met the U.K. government’s call in necessitating a revamp
of its education policies for the 21st century (King's College London & Warwick Universities,
2010) to address the needs not just in the UK but those who have traditionally looked to the
U.K. for advance education. Also, few universities’ bureaucratic process have made things
happened on their own just like Warwick University (WU), Hong Kong Polytechnic University
(HKPU) and perhaps more in the U.K. and elsewhere including Asia and Arab nations. On the
contrary, mismatches between universities graduates and industries demand for appropriate
skills continued (Jackson, 2009) as resolutions have remained placid. With collaborative

3
dialogues between industries and universities, transactional differences might narrow the
mismatched gap had universities listen to what industries’ required (Park & Kim, 2003) to
develop pedagogy that leveraged on advancing youth’s best years into functional graduates for
industries.
Additionally, a study (Mohamad et al., 2009) had shown Malaysian technical colleges
graduates unemployment had faced similar predicaments of mismatched curriculum between
what industries wanted from graduates and the training, which graduates have received from
their HE besides learning about developing professionalism and communication capability. A
gap analysis survey demonstrated that “Malaysian graduate employees’ work skills have wide
gaps in ‘Decision-making’ among others and that these skills were vital in improving
employers’ outlook on the graduate employees’ skills and quality, and ultimately, graduates’
marketability (Agus et al., 2011).
For these findings, transactional analysis as in Company Relationship Management
(CRM) required universities to dialogue with industries for developing effective pedagogy that
might be more efficient to produce functional graduates during youths’ best years. The
background further explained the importance of findings from a preliminary study because it
represented the continuous emphasis by industries on two instructional methods: workflow and
cause-effect thinking that have seen improvement in interns and reflected what market wanted.
As a result, the background had progressed into this study of a MDP for FED.
Specific CRM Background
Regular CRM consultation transactions with CPD partner companies suggested that trainability
is the one single most important key factor, which companies considered when deciding to
absorb interns into regular employment (Gilber, 1998; Lim et al. 2011). The survey restricted
discussions with companies to just two key questions. The first was how soon companies
regarded an intern's understanding of business finance budgetary planning process because an
acumen for money management like cash flow demonstrate a good feel of understanding
fundamental risks concepts. The second was how soon an intern might demonstrate
understanding of basic business economics as that represent interns’ ability to sense micro
economy’s direction.
A regular interview survey of 205 companies over 27 months from March 2008 by a
CPD office depicted in Table 1, showed an eventual view of interns’ employability, which
resulted from a progressive enrichment of existing pedagogy by redefining it with instructional
strategies that might meet market’s expectation of interns’ critical thinking abilities. Over that
period, pedagogy embraced enhancement through computer-assisted learning for full
engagement with consecutively linking of five tertiary course modules to make a complete
whole. Hence, that study was responsiveness to market needs for employable graduates.

4
Each of the nine assessment periods in Table 1 was for 3 months for 205 different
interns. Companies were requested to score the importance they place on an intern’s reasoning
ability in associating cause-effect and work flow, both being key reasons for determining
employability. Different interns limited the study during each period. The survey took
companies’ advice to enhance employability with improvement in teaching method and
enriching course modules to achieve learning of specific financial economics fundamental for
responsive decision-making. Evaluation of effectiveness in the survey was assessed by sighting
reduced time in Issue-1 and Issue-2 in Table 1 which respectively displayed the average
duration (in weeks) an intern was able to fluently discuss business budgetary process and
economics related to the company’s products.
Table 1 Summary of Survey Results
Reporting year 2008 2009 2010
Quarter of the year 3 4 1 2 3 4 1 2 3 4
Number of CPD Companies 12 26 20 35 0 32 35 20 13 12
Issue-1: Average week per quarter
for intern to discuss budgetary
process fluently
10.92 11.00 10.85 10.03 0 9.44 8.48 8.55 7.54 7.08
Issue-2: Average week per quarter
for intern to discuss economics
related to company/product
10.67 11.23 10.70 10.14 0 9.59 9.40 8.95 8.08 8.08
Number of companies per week
suggesting to improve on work flow
teaching
4.33 4.38 4.50 4.43 0 4.56 4.54 4.35 4.62 4.42
Number of companies per week
suggesting to improve cause-effect
teaching
4.33 4.62 4.55 4.34 0 4.44 4.46 4.35 4.31 4.42
The findings in Table 1 showed a progressive time reduction of interns’ ability to discuss
fluently about business budgetary process from 10.92 weeks to 7.08 weeks. Over the observed
period from March 2008 to December 2010 intern’s fluency to discuss companies’ related
products have also improved with reduced average time from 10.67 weeks to 8.08 (Lim et al.,
2011). The findings showed that graduates’ employability had skewed positively towards a
market-driven pedagogy that preferred self-directing employees quick in harnessing causal
effect and workflow thinking skills. This demonstrated interns’ effectiveness in
conceptualization risk-aversion decision making because feedbacks from industries suggested
interns be trained through an engagement delivery method that had emphasized critical thinking
skill through continuous reminder of cause-effect and workflow in their training.
The findings in Table 1 also suggested that due to progressive enrichment of course
modules and delivery method from listening to companies’ advices to intensify usage of cause-
effect and work-flow teaching method with concept mapping techniques technicques to

5
reinforce learning capacity had obviously improved knowledge retention ability and speed in
recalling knowledge into practice (Novak & Canas, 2006; Casner-Lotto & Barrington, 2006).
The logic in capacitating development of meaning was interlinked by diagrams, concepts and
promptings became critical thinking routine, which was ranked among the top five
requirements by industries of university graduates (Areeda, 1996). As a result, employers’
satisfaction of interns’ productivity improved with each later batch of interns. The overall
improvement was a result of listening to industries’ advices to engage the two delivery methods
in producing learning; cause-effect and work flow.
From the survey made in 2008, the link to this study was to continue with pedagogy that
was responsive to market’s needs as that was the key for enhancing graduates’ employability
because industries preferred employing those interns. Pedagogy therefore had embraced
enhancement through computer assisted learning for full engagement with consecutively
linking of five tertiary course modules to make a complete whole. The pedagogic process in
that survey was to continue into this study to carry on with regular transactional CRM on
consultation with CPD partner companies (Willard, 2004). The reason was because the survey
had advised that trainability as the one single most important key factor which companies
considered when deciding to absorb interns into regular employment (Black, 2011). During
CRM, the survey had considered companies’ advice to enhance employability with
improvement in instructional method and enriching course modules to achieve FED
fundamentals for responsive decision-making.
Issues Relating to Education for Employability
The issues relating to mismatched pedagogy, curriculum relevancy, impending human capital
shortage, demand for MDP, GZ’s view in learning, partial resolutions and pedagogy research
gaps. These issues were elaborated as follows:
Mismatched pedagogy
The background of the preliminary study was very important to this paper as continuous
emphasis by industries on work flow and cause-effect method of delivering training have seen
improvement in interns. As a result, these two delivery methods driven from market
requirement extended into this paper as they indicated industries’ needs for tertiary education
pedagogy that must collaborate with industry. The difference between university and
professional programs might be practice relevancy. Students enroll to graduate and practice
and not to teach or train as teaching professional practices requires years of prior professional
experience.
The other reason being no university teaches how to teach financial economics or the
likes of it might be insufficient people wanting such pedagogy as learning outcomes would be

6
for professional practices (Firestone). Nonetheless, there would be relevant journals that invite
sharing from best practices and the same goes to most professional courses. “Malaysia needs
an education system that is market-driven in order to produce work-ready graduates” according
to a study by Curtin University (Ng et al., 2011) meaning graduates must possess attributes
demanded by industries of which decision making and problem solving skills were among the
top five expectations by companies (Hairi et al., 2011). Graduates are taught subjects that
required them to reflect how to apply what critical thinking had taught as that would be the
missing link to enhance employability (Becker, 1964) and for decades, critical thinking had
stayed among top requirement by industries.
New national educational issues in China have found grounds for greater debate for
education reformation to address necessary sociological changes to traditional Chinese learning
culture, the latest being to transform from student to teacher centered in the recent dialogue
about spirit of higher education (Yang, 2011). Interestingly that dialogue had not discussed
industry centric education that led Germany and Japan from the ruins of World War II to
become among today’s leading advancing industry providers of methods and technologies Even
smaller nations like Singapore propelled into first world status within thirty years with no
natural resources. Surely, their human capitals were responsible for their continuous drive for
better education instructional system to reach current national wealth according to the Father of
Economics, Adam Smith’s in “The Wealth of All Nation” (Butler-Bowdon, 2010; Arcidiacono
et al., 2010). Surely a nation’s ability to produce more effective graduates make one tertiary
education superior over another with graduates as proof that the products of an educational
system would be graduates capabilities to meet industries’ expectation which in turn enrich
their nations!
In “Education Strategy 2020” (World Bank Group, 2011), the re-emphasis on
education’s role in development economics from a system approach as its initial thrust for
market driven skill in Egypt (Kouesny & Juma, 2003) to integrate education into economies.
Implementing different pedagogy strategy by needs and capacity priorities were the World
Bank Group’s reasons for concerns in different eras and different regions. Whether its reactive
or pro-active planning, the mismatched gap between what university produced and what
industries needed can be estimated by time lag; the longer time taken to reconcile the gap
would confirm the degree of unpreparedness.
Hartley’s (2003) “New pedagogy for new economy had similar calling, to the world
back that unless pedagogy is responsive to new economy, education may depreciate human
capital potential and disservice youth’s investment for their future”. Harley’s response appeared
to have met “The King’s and Warwick Project” (King’s College & Warwick Univ., 2010). On
the contrary, the mismatch between universities graduates and industries demand for
appropriate skills continued, even with known on-going mismatching of graduates’ abilities and

7
industries’ demand for appropriate skills, resolutions remained placid (Jackson, 2009). With
collaborative dialogues between industries and universities, transactional differences may
narrow the mismatched gap when universities listen to what industries’ require (Park & Kim,
2003) to construct pedagogies that leverage on youth’s best years to produce functional
graduates for industries. For that alone, transactional analysis as in CRM would be for
universities to listen to the market (Harris, 1967) i.e. industries, so that effective pedagogy
would produce functional graduates for industries instead of wasting their best youth years at
college. On this score, the U.K. government necessitated a revamp of its education policies for
the 21st
century (King’s College & Warwick Univ., 2010) to address the needs not just in the
UK but also for many who have traditionally looked to the U.K. for advance education.
Meanwhile few universities’ bureaucratic process made things happened on their own just like
Warwick University and Hong Kong Polytechnic University (HKPU, 2011).
Deficient economies of scale
Generally secondary school students might be streamed from grade 7 to 12 in two or three
basics; science, arts or technology. Thereafter HE students choose from among the diversity of
majors offered in HEs. Diversity while good lacks economies of scale and therefore further
challenge training of specific instructors for specific majors for there might not be enough
students to justify the economics of having one set of pedagogy to produce one learning
outcome. Curriculum was wholesomely defined to include skills, knowledge, content,
sequence, attitude, instructional, evaluation and exchange (Dezure, 2012). These components
differentiated the forces that drive changes in graduates seeking employment. Employable
graduates require certification to authenticate a base value for their capability. In addition, the
difference between HE and professional programs is their relevance to practice. HEs teach
engineering or accountancy wherein students enrol to graduate and practice instead of to teach
or train because it takes years of professional experience to know how to teach professional
practices. Professional program instructors such as accountancy or medicine might be drawn
from certified practitioners. Due to diversified knowledge requirement, no single instructor
might be unable to instruct all modules in any professional program.
According to Hughes (2012), professional accountancy instructors’ training had always
been conducted by their associations in the UK and the US. While the PRC has the world’s
largest certified public accountant body within one country, the ACCA of UK has the largest
global spread memberships. Yet Hughes (2012) mentioned there was no accountancy trainer
program other than sharing of best practices. One possible rational of HEs not having trainer
program might be lack of economy of scale compare to K-12 education to address critical mass.
The other possible rational being accountants study accountancy to pass and then practice
instead of to teach. Teaching accountancy and finance had to come after years of post-

8
qualifying practice and not by going for HEs. The same might be said of other licensable
professions.
Demands for FED skills
That IMF quoted China’s economy would surpass the US by 2016 (Song, 2011) added
challenges for increased offshore ventures (Williamson & Raman, 2011; Yang, 2010). China’s
outbound FDI increased from 2008 seems to have begun benefitting few (Zirpol & Becker,
2011) whereas China’s increased domestic consumption, higher cost of production and delivery
(Gang, 2010) and being nearer to buyers’ markets were likely reasons for SMEs to relocate to
more economical production regions, more so when the Yuan appreciated further. The reasons
for increased outbound FDI might expect quite similar to inbound FDI when the Yuan and
labor cost were both cheap. Imminently the immediate response would be a demand for local
graduates with relevant skill.
The Canton Fair statistics (Canton Fair, 2011) demonstrated the fair’s volume pulled
back. By Fibonacci flush back equation developed by Lim (2011), a possible increase of the
fair’s business volume might expect from May 2013. The projected increased would likely be
from increased foreign exhibitors at the fair. The fair statistics was about concluded business
volume, not just Chinese companies. Chang’s (2012) fundamental analysis that China would
collapse would remain to be seen as Chang’s had not discussed China’s GNP growth nor
considered China’s trade structure had shifted in recent years (Yermolai, 2012). Stepping up its
internationalized effort (Kloss & Sagar, 2011) would be akin to outbound FDI of US and Japan
during their globalization eras. That China might be a global economics leader soon made it
imminent for HE reform to match economic leadership. The escalation of demand for effective
human capital might be met by industry collaboration through CRM consultation on reckoning
that exploring a MDP of FED with a TEP that this paper aimed to overcome employment slack
in non-CPD based programs (Hartley, 2003).
On January 29, 2010, the Senate of Columbia Univ. (2010) endorsed a two years MSc
program in FE citing demand from career change and knowledge that an MBA in finance had
not offered. This decision from the upper tier of an Ivy League university was a significant
benchmark, as most if not all universities already have their MBA programs. Therefore, unless
there was demand for financial economics, Columbia University might not have established
one. It might be late to have the program offered at the post graduate level when degree
graduates were functional for industries as suggested by the Canadian experience in the next
section.
City University (2012) cited increase start-up career opportunities being the main
attraction of its three years Bachelor of Science (Hon) program in FE. Prior to 2010, there were
lesser opportunities for interns wanting a FE program and many might have opted for

9
economics, accounting, finance and an MBA later. Hence, interns might transfer from these
related programs instead of starting all over. A one year Top-Up Degree in FED program might
benefit interns who alternate to the program with pre-defined previous learning such that
interns might graduate with almost similar performing knowledge of a BSc. in FE that was
different from FED. While the intention of FED was wholesome and generic, being a relatively
new program to the world, the caveat being that as a degree program and not a professional
program. The pre-requisite to benefit from mastering FED were business economics, business
finance, quantitative methods and accounting studies
Impending human capital shortage
According to HKPU’s Univ. survey (2011), “some 57.1% of interviewees from industry said
that the most worrisome aspect was the quality of human resources in the technology and
management field” would signify lag time in matching curriculum to imminent human capital
constraints. HKPU recognized these emerging needs of industries for new business skill and
amalgamated two degrees to form an undergraduate degree in engineering and business in
response to a study would show that the Pearl River Delta pans out into the lower region of
Guangdong province would witness a continuous rise of high technology manufacturing
activities. As manufacturing produced products that must meet markets’ expectation of quality
and affordability specification, the pedagogy for FED would be imminent for these industries to
stay relevant (Becker, 1994).
To emphasize the point, in late seventies, Lakehead University (1980) mentioned in one
of its faculty bulletin that a study by Canadian National estimated that some 50,000 MIS
graduates would be required over the next 10 years. At that time, MIS was offered as a MBA
major and the graduating rate of MIS was insufficient to meet forecasted demand, according to
Relch (1996). As a result, Lakehead University known for its undergraduate teaching was
chosen in 1980 to pioneer an undergraduate MIS transfer program. To produce its first batch of
graduates in 1981, few undergraduates from computer science and accounting were approved
transferred. Two students graduated from the new undergraduate MIS major in May 1981. If
this Canadian case were to serve as an exemplary foresight, it would indeed be a referenced
lesson to plan before the need for specific human capital becomes a challenging issue. The
Lakehead University experience suggested that the effort by Columbia University have been in
time to match industries requirement. City university of London had recently begun a full three
years degree curriculum (City, 2012).
Education for employment
In the midst of the current political turmoil surrounding Arab nations, a comprehensive report
(IFC, 20111) from Arab youths’ outcry for curriculum relevance to industries’ need reinforced

10
Jackson’s (2009) study which emphasized similar mismatches and that the relevance of
education is measurable by their abilities to meet industries’ demand. The Arab world reported,
“Only one-third of the surveyed young people believed that their education prepared them
adequately for the job market, expressing strong doubts about the quality and relevance of their
programs” (McKinsey, 2011). Going beyond their oil wealth, Arab youth were pressing to
hedge their future through relevant education for their nation’s future prosperity depends on its
youth. What is more of nations without natural wealth?
China had pointed that direction as well (Yeung, 2011). Did conventional process take
too long for universities’ bureaucracy to effect responsive curriculum changes? This human
capital developed from necessity to survive job market competition knowing that companies
hire people for their existing capabilities (John, 2012) also confirmed than education for
employment is a generic youth desire spanning from China to Arab nations (Zhou, 2009).
Governments must ensure that youth have the right skills for the jobs being created. In
‘Creating a 21st
Century Curriculum’ (King’s College & Warwick Univ., 2010) as opposed to
‘Are They Ready To Work’ (Casner-Lotto & Barrington, 2006), the former in the UK seems to
be responding to the latter in the US as to redesign outdated curriculum to better address global
changing needs. According to OECD employment outlook 2011, where unemployment had
risen, youth was among the hardest hit and prolong unemployment will depreciated their
overall value and self-esteem. OECD attributed the problem as structural arising from various
factors, one that is crucial is the imminent need to “reducing skills mismatch with greater
responsiveness of education systems to changing skill needs and a strengthening of educational
choice through, for example, better opportunities for vocational education and training” (John,
2012).
An important dimension of youths’ development is decision-making leadership and a
study had (Casner-Lotto & Barrington, 2006) highlighted an overwhelming majority of CEO
rated 81.8 per cent for leadership being “very important” for new entrants with a four-year
college diploma. The gap closing effort from a preliminary study result of Table 1 had resulted
in relatively successful module redevelopment after a series of iterative analysis and design to
achieve learning of only some FED for responsive decision-making (Lim et al., 2011). The
concerns of youth and few responsive governments from Arab nations, China, USA and UK are
pointing towards structural functionalism pedagogies capable of seamlessly integrating youth
into societal structural functionalism.
In their report, Symonds et al., (2011) investigated reasons for American education
system having failed its youth. In charting multiple pathways for school reform, the team
learned from vocational education system of Northern and Central Europe that expanded role
by industries into education reform had resulted in increased youth employment and discovery
of young talents. This was a startling divergence from the current American education system

11
which registered 55% and 29% college completion rate respectively at four and two year
tertiary programs (Symonds et al., 2011, p. 11).
The issue of mismatched curriculum between the tertiary education and industry also
appeared in other countries. New national educational issues in PRC have found grounds for
greater debate for education reformation to address necessary sociological changes to
traditional Chinese learning culture, the latest being to transform from student to teacher
centred in the recent dialogue about spirit of higher education (Yang Rui, 2011). Interestingly
that dialogue did not discuss industry centric education that led Germany and Japan from the
ruins of World War II to become among today’s leading advancing industry providers of
methods and technologies. Surely a nation’s ability to produce more effective graduates make
one tertiary education superior over another with graduates as proof that the products of an
educational system were human resource capabilities to meet industries’ expectation which in
turn enrich their nations (Butler-Boudon, 2010).
Generation Z’s view in learning
There was no specific time interval to classify generations who have commenced their career or
about to do so. These generations ranged from post WWII to present post millennium born:
Baby Boomers, GX, GY and GZ. The difference in PRC from the rest of the world regarding its
GZ was due to several factors. Its one-child policy (Olesen, 2012) coincided with its 1978
economic reform. With ‘fewer men more share’, the math for per capital GDP rose gradually,
and then escalated to its status of world 2nd
largest economy. Thirdly, though the internet was
conceptualized in the 60s from packet-switching technology, it was only in the 1982 that the
internet begun its formal operation with standardized Internet Protocol Suite. Due to their tech
savvy abilities, GZ learners might strive (Associate Press, 2010)
These three factors began around early eighties. As GY became parents for GZ by the
new millennium. However, the PRC economy had expanded faster than plan as it was preparing
for WTO membership. People born in the 90s did not witness difficulties faced by their
predecessors. They were born into the internet revolution that had changed the way businesses
were conducted. By the time they reached their teenage, they have coincided with growth of e-
Commerce and e-Learning, which later advanced into social e-commerce and social e-learning.
Technologies have changed traditional ways of doing things from conducting business,
socializing and learning. The impact to PRC which set it apart from the rest of the world were
the confluence of these three factors just as first born of post-90s entered HE in 2008 and were
set to graduate earliest by 2012.
The purposive samples for this study were GZ. They belonged to those born in the post-
90s especially in the new millennium for most countries. They were born completely within the
take-off of mass technology, social networking included. Some of this generation had missed

12
the pre-affluent period (e.g. PRC of the late eighties and had enjoyed only the boom). They
have been known to begin coming into the work force. Being born into technology, have they
been motivated in learning? Pedagogy might have shaped them or perhaps shaped by them. As
pedagogy represented a larger picture of almost everything concerning learning, education
technology included, therefore challenging the MDP element of FED. Perhaps experiential
learning might have redefined this generation’s demographic profile indicated in Figure 1
(Askform, 2012; Dolan, 2010).
Jones (2012), recommended a fresh approach in handling the first graduating cohort of 7
million in PRC because they were differently motivated than their predecessors. This might
avoid workplace generation gap differences and avoid motivating them to move on as had
happened in work places of GX and GY. Jones (2012) suggested focusing on understanding
means of communication with this generation to motivate them from job hoping. Retaining
employees from this generation was therefore more important than retaining customers because
when employees’ workplace social network did not meet their expectation for information
exchange, their moving-on might also have risked revenue implying that clients might also
move on with them
A study by Carosa (2005), suggested GZ had placed greater emphasis on a balance
lifestyle in defining work and career. In that same interview on Sydney Morning Herald,
McCrindle (2012) commented that GY was spoilt. What is more then with a GZ? In his
discussion of how GZ might revolutionize education, suggest that the increase of home
schooling might create a workforce that had more self-directed at advancing entrepreneurship
without getting into a full-fledged business (Trunk, 2011). In between home schooling and
entrepreneurship, skipping classes have been expected in their process of reducing schooling to
get into on-the-job learning that made social e-Learning possible. Social e-Business therefore
had freed time for a more balanced lifestyle (Trunk, 2011). The issue about GZ way of learning
seemed to be still in the process of identifying a suitable learning style had agreed with PRC’s
single-child policy that also might have more values that are liberal. While a FE related career
might have more scope in financial cities such as New York, London, Shanghai, Frankfurt,
Tokyo and Dubai. The pedagogy challenge for GZ seemed to have just begun compare to other
matured financial center that became affluent sooner than other financial cities whose human
capitals have more time to develop their financial industry.

13
Part-a:: things of goals important to them
Part-b: important qualities to achieve their goals.
Figure 1 Random online surveys of GZ perception
Pedagogy research gaps
Agrawal (2010, p.1) reported that emerging new FE knowledge after each major global
economic event, have given rise to new economics and financing opportunities at increasing
speed from advances in instructional pedagogy. He mentioned that Blinder (2013, 2012)
prospected new risk topics to his curriculum relating to asset bubbles saying that students have
limited time in addition to being new to their field of studies. Hartley (2003) also concurred the
direction that new economy need new pedagogy. Therefore, updating of curriculum with
effective FIS might commensurate with available technology to position students better for the
job market. This augmented well for imminent upgrading of pedagogy to reflect relative
changes in structural economic that even previous studies by HKPU (2011) had at best
managed to offer pockets of focused resolution as discussed in later section. As a result, the
gaps in mismatching pedagogy to industry had led to impending human shortages and
employment imbalance that were shown respectively in previous sections. This gap had

14
continued to widen due to the time lag factor in providing timely resolution and had therefore
increased opportunities to narrowing the pedagogy research gap.
Mok and McCartney (2012, p. 13) found that pedagogy for most effective learning and
development practices varied by market among six Asian nations: PRC, Hong Kong, Taiwan,
Malaysia, Singapore and South Korea. PRC registered 41% response as prime popularity for
action learning whereas Hong Kong had 38% as top preference for coaching by external
practitioners. Malaysia and Singapore have quite close definitions: 37% as top favorites for in-
house development programs and 34% as top preferences for coaching by line managers (Mok
& McCartney, 2012, p. 13). Identifying what these countries did to meet their needs certainly
questioned the research direction for the best pedagogic fit in each country.
This study did not provide a comprehensive solution to ‘save the world’ of
unemployment among young adults. Specifically this study explored pre-emptive university
graduates employability for undergraduate students in programs related to graduate studies in
FED as an alternative to an undergraduate degree in FED mentioned in the ‘point of entry’
section to fill opportunities mentioned in the ‘Impending human capital shortage’. By seizing
the research opportunities present to narrow the pedagogy research gap with a framework of a
FED program, students who alternated to the FED program stood to develop their pre-exist
knowledge to constructively for developing their ability to retain and retrieve knowledge within
their CPD practices; enhancing their employability and social functionalism as a result. The
effectiveness of this MDP therefore was the independent variable of this study, measurable by
the construct of a pedagogy index. A higher index represents increase effectiveness whereas a
lower index represents less effectiveness.
Some Resolutions in Employability
The U.K. government necessitated a revamp of its education policies for the 21st
century to
address the needs not just in the UK but for many who have traditionally looked to the U.K. for
advance education (King’s College & Warwick Univ., 2010). Meanwhile, this exemplary
initiative might have motivate other universities throughout the world to pursue similar
initiatives to avoid issues discussed in the following sections and in doing so narrow the gap of
pedagogy mismatch between what HEs’ produce and what industries’ need.
Darch (1995) had mention co-op programs as an option to sustain youth’s employment
prospect is a possible alternative to transit youth from class to workplace and in so doing,
sustain their knowledge’s value. The non-government instrumented findings initiated by Hong
Kong Poly Univ. (2010) for WIDE and new curriculum development with Warwick Univ., as
one that seemed most timely matched to the changes in employment economics to meet market
demand. HKPU’s (2010) idea of WIDE had seamless integration of graduates into industries’
skill gaps.

15
Two OECD reports suggested incorporating vocational education training to increase
youth's employability (Field et al., 2009; Sonnet et al., 2010). One of the effects of Germany’s
reunification was to reconcile previous education system with a dual educational system that
would combine both practical work and theories at three levels of graduates from age 16 to 19
(Petrosky, 1996) that saw the progress of Germany being the firmest economy among EU
members (Tremblay & Le-Bot, 2003). While acknowledging success of the two OECD reports
and Germany/Austria dual-educational system, the continuation of US classroom-based
pedagogy would at best produce negligible gains according to a study by the Harvard School of
Graduate Education (2011) which advocated a three-point development strategy to rescue
America’s education system that had failed its youth. These three-points are; a broader vision
of school reform with multiple pathways from high school onwards with expanded role for
employers to collaborate new pathways. New social compact between society and youth
Education, being the one powerful finding keyword by OECD and Harvard School of Graduate
Education (2011) was ‘engagement’ with employers and industry meaning listen to the market,
for it was accountable to bring in the GDP number. This analysis was suggested by
transactional analysis of CRM in the earlier part of this paper.
Professional programs have their CPD that operated quite like Germany/Austria dual
educational system with varying due diligence in regulating their individual CPD compliance.
Wecker (2011) in ’10 National Universities Producing the Most Interns’ found that the current
practice of internship was to supplement students’ coursework which Black (2011) affirmed
that students with internship experience would be preferred for employment. (KPMG, 2011).
To overcome skill shortages, some universities required some of their non-business graduates
to take a short course in entrepreneurship together with internship before they graduate (Ooi et
al., 2011). However there remained insufficient effort to sustain intensity when tertiary
institutions needed to maintain a time consuming CRM with industries to interlink with CPD
development. CRM in the form of one-to-one dialogues, forums and continuous survey of skill
requirements keeps industries inform of the demand and supply lag time.
A Scalable Tri-Educational Program with CPD and WIDE
From a different angle, a case for a scalable TEP might enhance the dual education system with
a WIDE (Walstra et al., 2012). By being scalable, it allows for different values, in and beyond
different societies to adjust the intensity of each of the three systems within the program. The
difference between internship, co-op program, dual educational system of Germany/Austria,
ICAEW’s CPD system and a scalable tri-educational system would be the three systems
concurrent operation, which inter-links WIDE, CPD and constructive training. A work based
dissertation would connect theories to CPD practice whereas the training would provide the
methods and concepts to consolidate pre-exist knowledge. Just as in the CPD of professional

16
programs, which resulted in almost full employability rate because students’ CPD seamlessly
integrate into their careers, therefore the tri-educational system, would have s similar objective
(Mehrotra, 2011).
To enhance employability, selective HE programs that operate without CPD would adapt
few sources into a localized practice in the tri-educational system that would adapt CPD
practices from an accountancy body, work integration from Germany/Austria dual education
system and WIDE which would require a work based dissertation to condition theoretical
understanding.
In this scalable TEP, all three systems might operate concurrently to form a complete
pedagogy for all three systems to interlink one another. In doing so, that might achieve a
comprehensive consolidation of prior learning with FED content, WIDE and CPD with an aim
to solidify total worthiness of specific senior students in the program as another mean to further
narrow unemployment and to enhance career advancement. The scalable element suggest that
some degree of flexibility that industries would accept e.g. between 12 to 15 months inclusive
of CPD practices to consolidate learning.
Unlike professional programs like medical, law, accountancy and some engineering
whose professional bodies bridge their career with a watchful CPD. Liberal arts programs such
as finance do not have CPD arrangement. This missing link to consolidate graduates pre-exist
knowledge with practices contributes to graduates’ lack of knowledge/skill of decision making
among students in economics, finance and quantitative methods at tertiary level. From previous
sections, the call for market-driven pedagogy is boldly emphasized for responsive employment
economics that befits youth’s desire to sustain their self-worth rather than permeate frustration
through social e-commerce. While far-fetched pro-active strategies are needed to further narrow
unemployment and keep it sustainable. Sustaining values of learning and career prospects with
eliminators of youth’s predicaments of rights to jobs, sustaining knowledge worthiness and
shoring human capital shortage with specific pedagogy for FED with decision making
governance that encompasses a localizable best practice CPD within WIDE might be that
important interlink phase not mentioned by the said issues and resolutions. This missing link
might be the consolidation phase.
CPD might be a mandatory pedagogy requirement in any professional program to bridge
senior year student into the industrial world. In contrast with internship and co-op program, the
CPD process might involve tracking professional practices and mandatory workshops directly
related to the practices updates example tax reform, legislation in accounting reporting and new
accounting standards. The problem of lack of knowledge/skill of decision making among
students in economics, finance and quantitative methods at tertiary level would be the missing
link to consolidate pre-exist knowledge with practices. Without this link, knowledge might
depreciate.

17
While curriculum configures knowledge development process like an assembly processes
where each part logically connects to another to make a whole, there was no mentioned of how
these cumulated knowledge would be tested on actual practices although case teaching would
be the closest critical thinking next to reality, bridge theories with the real world (Herried,
2004; Milne & McConnel, 2001). By Deming’s (1986) ‘Plan, Do, Check, Act’, definition, case
based pedagogy stops before the ‘Act’ stage. Practicing knowledge through CPD not only
connects theories with practice, it would also directly engage graduates into their careers.
A CPD within a WIDE would complete the PDCA cycle as a low risk approach for a
specific pedagogy in those said resolutions of apprenticing, valuing multi-pathway, curriculum
revision and transfer programs. The argument here suggested that curriculum relevancy would
be a symptom of slacks in decision-making knowledge skill among seniors in economics and
finance. Curriculum would become a problem identity only when industry rejects the graduates.
Unless there have been CRM between universities and industries, curriculum relevancy might
not be ascertainable, again confirming that market driven element for a pedagogy construct
might be more effectively organized into universities core curriculum, where FED Skills might
expound positive impacts.
The call for MDP might boldly emphasize for responsive employment economics that
befits youth’s desire to sustain their self-worth rather than permeate frustration through social
e-commerce. While far-fetched pro-active strategies might be needed to further narrow
unemployment, sustaining values of learning and career prospects with eliminators of youth’s
predicaments of rights to jobs, sustain knowledge worthiness and shoring human capital
shortage with specific pedagogy for FED Skills. Inclusive decision-making governance might
encompass a localizable best practice CPD within WIDE might be that important interlink
phase not mentioned by the said issues and resolutions. This missing link is the consolidation
phase at CPD.
ICAEW’s (2012) RAID model might require members to declare statement of
compliance. Members might self-supervise journalizing their practices that declare CPD time
and wrongful declaration might result in those validated period nullified. The ICAEW’s (2012)
CPD might have both constructivism element of continuous evaluation with punitive behavioral
element to enable self-supervision. Hardly is there an accountant without a job because the
CPD element might have already link the graduate although there might be little extrinsic in the
start-up stage of the career, therefore for the issues related to the problem statement, the CPD
pathway might be a proven linkage to employment for any professional programs.
Unemployment arise when students undertake programs that might be not demand driven and
hence they might become mismatch to society’s structural function e.g. a degree in fine arts
majoring in sculpture or portrait painting.

18
Point of Entry into FED
It was usual that the preferred entry requirement to a graduate program in FE as a basic degree
in economics. The reason being FED, defined as tradable money resource for increased returns
on equity within optimized risks from reliable high value information and diversification
options was to be responding by the ‘WHW ‘dimension. Improved employment prospects for
finance and economics graduates were necessary to progress them earlier to higher value C and
D level positions. Due to enhance corporate governance, henceforth the market-driven
pedagogy of FED had operationalized the essential skills from a composite of pre-exist
knowledge in finance, economics and quantitative methods that qualify a senior tertiary student
into a FED program. With intense job market competition, students might be imminently driven
to seek advance skills and FED as a motivation option to demonstrate ability that translates
opportunities into higher value decisions (Vitaro, 2004). Therefore, efficient and effective
practice of FED was for realization of higher value human capital and increased of awareness
in corporate governance (Financial Reporting Council, 2011). C and D level prospects might
have elected to forgo post graduate FE knowledge in lieu of industrial experience.
Hughes (2011) mentioned that ‘Command Words and Assessment’ had offered an
understanding of the comparative ability that represents FED ability. A basic degree in
economics might be the preferred entry requirement to these programs. From a different
dimension, the discussion and argument so far illustrated a case for a scalable tri-educational
program (TEP) depicted in Figure 2 was adapted from Germany and Austria dual education
systems (Tremblay & Le Bot, 2003). The TEP matrix required interns to work part-time in
relevant CPD and perform a WIDE after FIS. The design was to inter-link WIDE, CPD and
formal classroom learning. The WIDE component connects theories to CPD practice whereas
the learning provides the methods and concepts to consolidate pre-exist knowledge. By
seamlessly integrating theories to practices, the opportunity of employability might be
enhanced. The scalability depicted in Figure 2 allowed for adjustment in each of the three
components within the program.
FED being a tradable money resource for increased ROE within optimized risks from
reliable high value information and diversification options might response to three high value
questions: what might be the known opportunities presented, what money quantum might be
needed and when might be the time expected of ROI. Decision-making skills are needed to
improve graduates employment prospects and to and progress earlier to higher value C (Chief)
and D (Director) positions of corporate governance. MDP for FED essential skills from a
composite of pre-exist knowledge in finance, economics and quantitative methods might
position students for that.

19
Formal Instructional Support (FIS)
Continuous Professional Development (CPD)
Work Integrated Dissertation Effort (WIDE)
Sept ‘12 May ‘13 July Nov ‘13
Arrows indicate application of knowledge to practice from one program to another and reflection
thereafter.
Figure.2 The current Tri-Educational Program (TEP) schedule
An indication among senior professional accountancy/finance students who transferred to
a program that offered CPD within WIDE is a key driver to explore changes in youths’
decision. This was seen in >70% of selective students interviewed who have decided to
advance to a transfer program that is FED bias because of the pedagogy aspects which focus on
consolidating pre-exist knowledge through a WIDE program during which the college and its
CPD center jointly monitor students’ CPD progress (Lim et al., 2011). These students were
among >70% interviewees in favor of WIDE program were significant to conclude that not
everyone who studied accountancy had desire to practice accountancy just as in the eighties
when Lakehead University presented the MIS transfer program opportunity.
Variables expected in this paper might be abilities of students, FED skills content, WIDE
and CPD companies’ assessment. The FED skills contents might include several items that as
compositely might be responsible to consolidate prior learning. These items might involve
methods, procedure, concepts and motivators for teaching, learning, retaining and recalling
knowledge. The framework might find support in best practices in CPD, work based
dissertation, and the constructivism aspects of methods and procedures that enhances
knowledge retention and retrieval. CPD might become one of the pedagogy enabler and a link
between industry and universities through continuous CRM to narrow the unemployment gap,
promote structural functionalism, enable motivational influences that cause pedagogy’s
relevancy to meet the needs of those who employ and those who want to get employed (Gilbert,
1998). In order to identify theories related practice, the two main independent variables of
behaviorism and constructivism aspects of learning and training, the types of motivation factors
link through intrinsic and extrinsic influences can measure within defined delimiters
(Alexandar, Ryan & Deci, 2000).
Concluding Remarks
With emerging new financial economics knowledge from global events giving rise to new
economics and financing opportunities at increasing speed of advancing delivery mechanism,
augment well for imminent pedagogies upgrading as is relative to changes in structural
economic that even previous studies such as by HKPU might at best managed to offer pockets

20
of focused. As a result the gaps in ‘pedagogy mismatch industry’, impending human shortages
and employment imbalance showed might continue to widen due to the time lag factor in
providing timely resolution and this had expand research opportunities to help narrow this gap.
This paper might not provide a comprehensive solution to ‘save the world’. It might
explore pre-emptive university graduates employability by seizing research opportunities
present to narrow the problem gap with a framework of a tri-educational system in FED.
Students in finance and economics develop their cognitive approaches to receive, filter the
overloaded information and consolidate selective ones in more constructively retainable and
faster retrieval manner. In doing so, they shorten their thinking process in competitive decision
making in financial economics within their CPD practices. As a result, this enhances their
employability. The significances of this paper’s exploratory finding might raise human capital
value by being another source to narrow the employment gap between what industry wants and
what universities might not meet.
Beginning with the end in sight, this pedagogy driven by market needs for graduates with
decision making ability is constructed to assist seniors to consolidate their pre-exist knowledge
content in business economics, finance and quantitative methods. Together with CPD and
WIDE, it enriches graduates abilities in making decisions to achieve higher employability
considering that China’s graduate unemployment is on the rise (Zhou, 2009; Zhang & Wang,
2009).
A compressed concurrent tri-educational system offers integration for senior students
into their career start up can immediate raise human capital value and narrow the employment
gap between what industry wants and what universities might not meet. Improve possibilities of
potential C and D level earlier as well as entrepreneurship due to less effort needed to discover
learning by longer route hard way and be better prepared to seize entrepreneurship
opportunities when they arise (Chew, 2011; Francoise et al., 2000). Provide a pedagogic
reference for universities to adapt by conducting seminars and training clinics to share
knowledge and practices. Enlarge and enrich a renewed definition of pedagogy by
disseminating its knowledge, experiences and practices through appropriate literatures.

21
PAPER 2
Taxonomy of Financial Economics Decisions – A Revision Initiative
Authors: Matthew Goldman Kimher Lim and Hazri Jamil
Adapted from International Journal of Innovation, Management and Technology, 4(3), 376-385.
Abstract— this background for financial economics decisions taxonomy presented offers an
initiative to conceptualize a revision that incorporates a structured concept mapology system. In
doing so, the revised taxonomy synchronizes with a popular structured systems analysis and
design methodology for more efficient communication in specifying requirements between
systems specialists and end-users. Information technology being the key diver of change, the
revised taxonomy positioned to leverage on parallel progress with development of cognate tools
and methods especially those that innovate thinking and learning about decision-making.
Introduction
A reason for HE not responding to the need for new skills might be their non-autonomous
decision process that MOHE might decide which university might best lead the new initiative.
Such event was mentioned afore in the Canadian National case which Canada’s MOHE chose
Lakehead University (Gerald, 1980) to pioneer a Management System transfer program. The
governance of accountability does not represent weakness for low response. On the contrary, it
was a conservative national human capital development approach. Therefore, efforts by
professional bodies in the likes of ICAEW might have been more efficient with offering of
short programs to overcome skill shortages. The journey in managing that change might
consider a pedagogic approach in revising taxonomy that considers technological impact upon
future learning environment
Taxonomy refers to the technique of classification (Collins, 2009). History had largely
credited Aristotle as taxonomy’s eldest (Mayr, 1982) who gave roots to naming systems for just
about anything (Knapp, 2010). Regarding learning, Bloom’s taxonomy was a classification of
learning objectives within education had since been revised once (Anderson et al., 2001) with
the latest development in Pedagogy 3.0 for STEM teaching. Evidently, change was imminent,
as advances in database technology had affected taxonomy in educational whenever there was
major development in cognate processes (Vanides 2010; Anderson et al., 2000). Technological
advances in educational technology, as have been in Pedagogy 3.0 symmetrically influence
taxonomy for FED, being another professional education discipline likewise.
McKinsey’s survey (2011) reported that among stakeholders: 42% employers agreed
graduates are job ready, 72% education providers perceived so whereas only 45% of youth

22
agreed. Not all three stakeholders were synchronized in their learning outcomes though the
education providers thought there were. CRM between educational providers and industries
were imminent to ensure relevant skills were learnt to increase graduates’ employability.
Professionalism and communication ability were part of the ten skills to hire according to
Casserly (2012). CPD as part of a taxonomy for FED’s instructional pedagogy was evident by
survey of six Asian nations in how they administered training in tandem with structural
functionalism, as those processes were responsible for engaging learners into contemporary
practices and integration into the industry according to findings by Mok and McCatney (2012).
On a broader scope, sustainability pedagogy index by taxonomy needed to find an equilibrium
level with industries by co-existing with changing technology, structural functionalism, and
social shift to professional class, cosmopolitanism and citizenry values.
The quick background had just shown technology drove changes, taxonomy being one.
Guided by the revised Bloom’s taxonomy (Anderson et al., 2001), this paper first reports a
taxonomy framework for the instructing and practice of FED capstone in relation to an
overarching aim of capacitating students’ with the knowledge and skills of the ‘What-How-
When’ dimensions in FED. Doing so, the practice emerged conceptual changes in the learning
process (Posner et al., 1982) by graduating adults’ self-directed attitude towards self-
sustainability upon their prior knowledge in accounting, finance, economics and quantitative
methods (Day, 1955).
For the coming graduates from GZ, the latest development in Pedagogy 3.0 (Vanides,
2010) implied that how-to-teach-how-to-learn is being replaced with how-to-teach-how-they-
want-to-learn. Most GZ has no pre-affluent history, born into an ongoing technology savvy
period in a one-child policy. Although practicing knowledge is irreplaceable except continued
in different format, it suggest that the art of sustaining motivation in learning is dedicated when
seeking a balance between practice and rote teaching (Anderson et al., 2000). The processes
linked for evaluating the taxonomy for FED pedagogic effectiveness on how knowledge
constructs decision-making capability using the FED capstone thinking dimensions of ‘What-
How-When’. WHW rationalized upon four disciplines that dealt repetitious with decision-
making; general economics, finance, accounting and quantitative methods.
The governance of the taxonomy was to consolidate the learning of these four disciplines
for establishing professional practice whereby practicing the skills frees the scope of thinking
into exploring revenue possibilities while in parallel also remembering lessons from recent
financial fiascos (Reed, 2010). The reasons for initiating revision of FED taxonomy were
rationalized after explaining its current application in six taxonomy levels: knowledge,
understanding, application, analysis, synthesis and evaluation. Explaining the four levels of
diagrams while complementing the six taxonomy levels has initiated revising the FED

23
taxonomy by synchronizing it to four levels to complement Gane Sarson SSADM and in doing
so might benefit from information technology development meant for Gane Sarson/SSADM.
Background
Issues mentioned in Paper 1 have pointed to a multi-layer problem of pedagogy relevancy. As
governments account for their GDP growth, it has to derive from human capitals, which in turn
produce higher educational systems. “Where the limits of universities lie and where industry
must pick up the reins where great science literacy is needed” according to Gomory & Shapiro
(2003). This might relate to the imminence of HEs to stay relevant through CRM dialogues
with industries to close the gap of mismatched pedagogy and program irrelevancy for
economies to stay competitive, as shifts in an economics structure might create lag time for
universities to develop the right human capital in current fast changing world economy patterns.
Macro perspective of frustration for employable education might complement the mismatch
pedagogy mentioned and reflect more outcries that are yet unheard. Attempts relating pedagogy
in various context offered islands of resolutions that at best reflective in the dual educational
system of Germany/Austria, which combined practice to theories, as investors favor highly
specialized skills that the US talked about (CareertechEdFoundation, 2008).
FED pedagogy development by HE might easily supersede fundamental programs, which
focus on macro priorities such as standard tertiary major like business studies, engineering or
accountancy. Graduates might gain two years of direct work experience before they
considering career advancement. Tertiary institutions’ obligation therefore might train students
from base zero. A search for financial economics undergraduate course in the U.K. showed at
best, joint majors of economics and accountancy (UCAS, 2011).
When students enter a career related to accounting, finance or economics, they were
faced with a capstone problem; be fluent in financial statement which as professionals, they
were expected to deal daily with these document (Bruns, 1997). Therefore the pedagogy for
these professions begun with an objective of end in-sight by conditioning students with cause-
effect teaching through integrating of learning aids such as end-of chapter assignments (Ariely,
2008). Integrating spread sheet competencies into accounting curriculum had shown in a study
that it was imminent in enhancing the pedagogy of accounting and finance related courses
because it engross students solving issues and in doing so students might evaluate their spread
sheet competencies (Walters & Pergola, 2012). In doing so, Elrod and Norris (2012) found
students’ FED skills were raised in perceiving irrationalities that shape FED skills (Ariely,
2008).
The Weighted Average Cost of Capital, (WACC) being among parameters of corporate
governance might be taught through visual cause effect method. By using Excel® for
interactive teaching of the WACC concept, Drougas et al. (2012) asserted that, students who

24
have explored the change effect to the WACC formula have reinforced their understanding of
financial statement. This was especially so when evaluating leverage to decide on capital
structure theory (Baltazar et al., 2012).
To overcome the challenge of teaching terminologies and concepts in introductory level
accounting courses, King and McConnell (2010) used a tent making business that comprised
business procedures. Students were required to follow instructions; those who did were able to
differentiate between financial and management accounting, compare to those who did not. The
findings confirmed the reason being that the uses of a common experience have engaged
student and contributed to learning and retention of learning in discussing pedagogy for
teaching managerial accounting as also concurred by Thein (2006). Further evidences were
those who followed instruction have the ability to comment on the common assignment.
Integrating finance and accounting through a business combination assignment in Excel ® was
studied by Drougas et al. (2012) as effectively conveyance of teaching requirement for business
process changes in an integrated approach of curriculum and delivery styles in new pedagogy.
The integration approach linking blocks building upon block was also concurred by Exley and
Bannet (2006, p.8).
Bryant and Harris (2011) experimented with using storytelling (current event on news
media might also make interesting stories) to increase interest and recollection in finance
concepts found that there was 6.5% more significance in getting students to recollect relevant
economics facts by forming relationship of learning to story. Good stories tend to be current
economics events which might serve as case for theories to relate. Bringing in good current
events from news media or having students’ assignments to find current events that illustrate
the main points have been effective to reinforce learning (Exley and Bernett, 2012).
In engaging FED thinking skills for economics, Beckam and Stirling (2012) discussed
pedagogical strategies through simulating a model in various scenarios of changing family
structure to demonstrate its effect on household decisions on consumer products. By this
method, their study was found to have reduced students’ stereotype of the family structure
(Kern, 2002). Agrawal (2010) mentioned that Taylor’s paper written before an economic crisis
have gotten out-dated because the effect of economic growth as a function of labour, capital
and technology had to be traded-off between inflation and unemployment brought by the crisis.
As result, students have expected changes in monetary and fiscal policy. To overcome this,
students depended on pedagogy that required instructors to top up missing topics in text book
with current economic affairs. Blinder (2013, 2012) agreed
that economics text books were not
synchronized to update students with economic principles because business cycles were
influenced by new economics events that text book were unable to reflect on time. As a result,
after each economics crisis, a new pedagogy was needed (Hartley, 2003, p.84); as driven by
globalization that depended on a knowledge-economy. In using cause-effect teaching to explain

25
new pedagogy whenever economy became ‘new’ after a major event, he expounded on new
frontiers were broken by new resources that increases a firm’s competitiveness with new
material, new methods or with people who have re-skilled.
Regarding development of professionalism, a study by Stretcher et al. (2010) found that
including communication competencies as part of learning outcomes was crucial for developing
transfer of learning across courses in an MBA curriculum because cross disciplinary writing
skills was essential to communicate effectively recommendation of analysis and decision in
managerial finance. These studies on instructional pedagogy in accounting, finance, and
economics seemed to focus on keeping students engaged by the use of Excel ® in assignment
as a bridge to visualize cause-effect reasons for situational changes from storytelling about
current economics events (cases included as stories and events).
FED Pedagogy Review
Below are some reviews to check the extend of FED taxonomy in practice to its pedagogy.
i. Mofett et al. (2012) described their “Fundamentals of Multinational Finance”
pedagogical tools as writing style that might invite good reads, lots of illustration and
exhibits, a running case, mini cases at the end of each paper with information of
contemporary practices of global finances, questions and answers. Being among the
most recent text book out in multinational finance, whether it might sustain readership
for the financial turbulence happening now in Europe, time might tell as even ‘The
2008 financial crisis and economic pedagogy’ (Passaris, 2011) was outdated by
Greece’s maturing debts in 2010.
ii. According to Hens and Rieger (2010), finance might be composed of many different
topics. Financial economics might be the connection between finance and economics
meaning there might be potential confusion for misunderstanding into the various
streams of finance and economics.
iii. Goldstein and Onyeiwu (2004) suggested that in rapid changing global economy,
pedagogy with case studies and experiential learning might be better off with added
exposure of recent global deficiencies to add onto a curriculum’s comprehensiveness.
iv. The ‘Hook’ by Burney et al. (2007) referred to an element of capturing interest that
cause learners willing to stay on to listen, suggested that within the pedagogical
breaking down of a teaching module into topics, the topic on hand might be so well
positioned to create the maximum impact capable to engage learners.
v. The approach by Duett et al. (1996) to link operating and financial leverage to
systematic risk might be done by decomposing the firm’s balance sheet and in so doing
might identify better what each type of risk might be borne in order to re-appropriate
assets to the correct portfolio.

26
vi. Bohren (1997) use the logic of the market model to offer a simple framework for
presenting the basic risk concepts in an integrated way because according to him the
concepts of finances though not difficult to communicate when they were taught one at
a time. However when these concepts were taught on an interlinked basis, it might be
very difficult for students to follow the internal relationship within these concepts
because there was no framework for such unison. He therefore he suggested a building
block structure for teaching risk in modern finance.
vii. A survey of price discrimination by Marsden and Sibly (2011) about the teaching of
price discrimination in five text books found no attempt to link the rational of the three
types of prices discrimination and therefore their study had described taxonomy to
teach the matter.
viii. In Austrian economics and pedagogy, Loan (2011) suggested that under the principles
of liberty, students as independent learners might centric themselves upon their
individual self as an organism that might only grow while when they might discover
how they learn.
ix. The employment of concept mapping for finance had been wide according to few
regular writers promoting this aspect of illustrative active thinking such as Biktimirov
and Nilson (2003, 2006 & 2007), Filbeck and Smith (1996), Mento et al. (1999) and
Nettleship (1992).
x. Needles, Powers and Crosson (2011) said their ‘Principles of Accounting’ had its
design originated the pedagogical system of integrated learning objectives. That system
purportedly supported both learning and teaching by providing flexibility in supporting
teaching first year accounting with review and assignments at the end of each paper.
The reason for that arrangement was to identify learning objectives, which in turn
referred to specific content areas by a ‘Stop an Apply’ section to reflect with an
exercise.
xi. Abraham (2008) compared delivery of accounting subject with the blended learning
approach versus the traditional approach. It was claimed that “the significant
improvements in every area, supply valuable evidence that the adoption of a blended
approach in higher education might appreciably enhance students’ results and
experience by providing a more student-centered learning environment”
xii. Milne and McConnel (2001) suggested problem-based learning using case material in
accounting education, which outlined the learning logic with reviews of empirical
evidence to develop self-directed learning behaviors to bridge theory and practice.
xiii. Many accounting textbooks exhibited diagrams as standard inclusion to illustrate the
flow of numbers from one process to another. Although Leauby and Brazina (1998)

27
illustrated their support of using concept mapping in accounting but more can be done
with colors within the usage of Excel to enhance live visualization (Atkins, 2012).
xiv. Motivated by findings in their research, D’Souza and Kelwyn (2010) identified factors
influencing student performance in the introductory management science course,
suggested that further investigation may be necessary to understand the root causes of
poor performance. ha and recommended corrective measure to improve students'
performance in the management science course due to reasons ranging from students’
lack of preparation to ineffective course design.
xv. Graphs might be natural integral aspects in decision making courses so are grids but the
way illustration presents these concept perhaps might enhance understanding as pointed
out in by Schau and Mattern (1997) in “Use of Map Techniques in Teaching Applied
Statistics Courses.” and by Sirias (2002) in 'Using Graphic Organizers to Improve the
Teaching of Business Statistics.’. Tukey (1980) had suggested that for both qualitative
and quantitative analysis, the over reliance of numbers might cause one to be myopic in
analysis by missing out the bigger aspect of what might suspiciously be drawing close
to issues under discussions.
Pedagogy of FED Skills
As financing projects became competitively market driven, advance skills have to emerge from
the combinatorial generic fundamentals of financial economics towards sub-specialization in
the industry specifics and in the process motivate job market expansion for multi-skilling
abilities that might be more effective in translating opportunities into higher net value,
according to Vitaro (2004). While not everybody had desire to attain FED skills, those who
desired to progress to the CEO/CFO/ or MD/ED/Non-ED positions with existing formal tertiary
training, inclination to business development and who knew about the company’s products and
their markets, and how they might be funded, might enhance their self-worth with MDP for
FED. A person with C (Chief) or D (Director) level responsibility might have to coexist
between marketing, manufacturing/production and finance. By that, FED skills might be an
indispensable auxiliary skill for fiduciary duties.
As a result, FED SKILLS might become an imminent skill set for decision making that
affects final pricing in enhancing corporate future value. Formal FE knowledge might be
acquired through postgraduate studies whose curriculum train postgraduate students towards
making advance FED. However, few might have the time luxury to return to school for two
years and many successful C or D level people have other avenues to develop themselves. A
person with formal pre-exist accounting, finance or economics skills might be better motivated
towards this advancement because of the knowledge foundation which they might hold to prove
themselves in the industry wherein the element of specific experience might serve to

Dr. Matthew Goldman Kimher Lim donates to Wikipedia

Dr. Matthew Goldman Kimher Lim donates to Wikipedia

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