Sage Journals: Discover world-class research

Abstract

This article describes a holistic, discourse-based method for assessing the critical thinking skills of undergraduate senior-level finance majors. Rejecting a psychometric assessment approach in which component features of critical thinking are disaggregated, this study is based on a holistic scoring of student memos. Students were asked to recommend and justify a course of action to a lay client facing an ill-structured finance problem. Analysis of student memos reveals critical thinking weaknesses that may be ameliorated by changes in assignments or instructional methods. The memos reveal four kinds of critical thinking problems: (a) failure to address the client's problem, (b) random rather than purposeful application of finance tools and methodologies, (c) inability to translate finance concepts or methods into lay language, and (d) inability to construct rhetorically useful graphics. The curricular implications of this study are discussed.

Keywords

critical thinking assessment writing rubric finance learning

Get full access to this article

View all access options for this article.

References

Bean, J.C. (1996). Engaging ideas: The professor's guide to integrating writing, critical thinking, and active learning in the classroom. San Francisco: Jossey-Bass.

Broad, B. (2003). What we really value: Beyond rubrics in teaching and assessing writing. Logan: Utah State University Press.

Carter, M. (2007). Ways of knowing, doing, and writing in the disciplines . College Composition and Communication, 58, 385-418.

Ennis, R.H. (1996). Critical thinking. Upper Saddle River, NJ: Prentice Hall.

Ennis, R.H. (2006). An outline of goals for a critical thinking curriculum and its assessment. CriticalThinking.Net. Retrieved September 21, 2006, from http://www.criticalthinking.net/goals.html

Fawkes, D. (2001). Analyzing the scope of critical thinking exams . Newsletter on teaching in philosophy, 00(2). Retrieved September 21, 2006 , from http://www.apa.udel.edu/apa/publications/newsletters/v00n2/teaching/02.asp

Flower, L. , & Hayes, J.R. (1977). Problem-solving strategies and the writing process . College English, 39, 449-461.

Huba, M. , & Freed, J. (2000). Learner-centered assessment on college campuses: Shifting the focus from teaching to learning. Needham Heights, MA: Allyn & Bacon.

Huot, B. (2002). (Re)articulating writing assessment for teaching and learning. Logan: Utah State University Press.

10.

Kurfiss, J. (1988). Critical thinking: Theory, research, practice, and possibilities (ASHE-ERIC Higher Education Report No. 2). Washington, DC: ASHE-ERIC.

11.

Perkins, D. , Jay, E. , & Tishman, S. (1994, August). Assessing thinking: A framework for measuring critical thinking and problem-solving skills at the college level. In The national assessment of college student learning: Identification of the skills to be taught, learned, and assessed (NCES 94-286). Washington, DC: National Center for Education Statistics .

12.

Robertson, F. , Bean, J. , & Peterson D. (2004). Using Federal Reserve publications in institutions and markets courses: An approach to teaching critical thinking. Journal of Finance Education, 2, 15-25.

13.

Scriven, M. , & Paul, R. (2001). Defining critical thinking: A statement for the National Council for Excellence in Critical Thinking Instruction. The Critical Thinking Community. Retrieved September 19, 2006, from http://www.criticalthinking.org/aboutCT/definingCT.shtml

14.

Suskie, L. (2004). Assessing student learning: A common sense guide . Bolton, MA: Anker.

15.

Walvoord, B. (2004). Assessment clear and simple: A practical guide for institutions, departments, and general education. San Francisco: Jossey-Bass.

16.

Walvoord, B. , & Anderson, V. (1998). Effective grading: A tool for learning and assessment . San Francisco: Jossey-Bass.

17.

White, E.M. (1994). Teaching and assessing writing: Recent advances in understanding, evaluating, and improving student performance (2nd ed.). San Francisco: Jossey-Bass.

Using a Client Memo to Assess Critical Thinking of Finance Majors

Abstract

Keywords

Get full access to this article

References