This experiential learning method brings students into the laboratory of the real world using real time data and news to reinforce and to apply their knowledge of theory and institutions. A methodical way of using this technology in teaching economics courses is discussed. Results suggest that using this strategy improves students’ comprehension of theoretical and applied material. Moreover, their performance in other classes, internships and jobs suggests that this approach improves retention.
This approach in teaching of economics and finance is an effective way of incorporating theory with practice in the classroom. This approach utilizes Bloomberg Technology with real-time data to show what they learn in the classroom in a theoretical way and in a very hands on and applied manner. When students see how a confirmation or further reiteration of a low interest rate environment by the Fed Chairman results in a major celebration of the equity and bond markets through higher prices, they know what they have learned is real. The absorption of the material is improved this way by students, they retain it better and longer and are able to use it in other classes, at their internships and at work. In this paper, the author does not suggest replacing the conventional methods of teaching with this approach. Rather, the idea is to encourage others to give this approach a try, as it is a great complement to the traditional teaching methods in economics and finance.