Minutes of the Autumn term Staff/Student Exchange meeting for Postgraduate
Certificates in Economics, Economics and Finance, and Finance held on Tuesday
4th November 2002
The meeting was attended by:
Student Representatives:
Ania Thiemann (PCE)
Holly Krambeck (PCEF)
Salman Haq (PCF)
Jamal Hashi (PCF)
Academic Staff
Stephen Wright (Director, Certificate Programmes)
Tony Humm
Gerry Coakley
A number of points were raised by student reps that related to all courses (micro &
quantitative techniques for both programmes)
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Although most students seemed very happy with both components, a number
of students had mentioned that the courses appeared to be moving increasingly
faster. Tony and Stephen agreed; but are constrained by the amount of
material the courses had to cover.
Tony also stressed that, despite some requests from a minority of the group,
students should feel free to ask questions as lectures proceed.
A number of points relating to differences between PCEF and PCE were
raised. PCE students felt that PCEF students had advantages in time; on the
other hand the latter were more frequently overseas students for whom English
is a second language. Students need to be aware that, in general, both groups
are very heterogenous.
Some overseas students have mentioned problems with examples in the micro
course that are not covered in the textbook (which all agreed was rather dull).
Stephen agreed to conduct a straw poll on the desirability of departing from
the text for some examples. A similar poll last year was strongly in favour of
introducing some variations from the text.
There were differences in opinion relating to handouts: some students felt that
it was a better discipline to write material down – however in general the
handouts were viewed as useful.
A number of problems were raised in relation to the size of the groups this
year. Rooms were often crowded, and audibility and visibility of overheads
towards the back of the room was poor, since none of the large rooms are
really suitable to such large audiences. It was suggested that use of
microphones might help the former problem.
It is hoped that facilities may improve next year.
Also in relation to size, the student reps asked whether groups for problem sets
could be split further. Stephen agreed to investigate.
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There have been some problems with one of the class teachers. Stephen
undertook to pass these comments on.
Re. the QT test, Tony reminded student reps that sketch answers were
available on his web page.
Stephen also noted that PCE/EF students take a QT test contributing 10% of
marks in October; but PCF students, covering similar material, are not tested
till late in November. He enquired whether either set of student reps felt that
there was scope for a change. Interestingly, both appeared to be content with
the current set-up.
Follow-Ups
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Class groups for PCE have now been split into three roughly even groups. It is
hoped that this will ease communications between students and teaching
assistants.
Feedback on teaching assistants has been passed on.
A straw poll on the issue of departures from the micro textbook was strongly
in favour of continuing to use some examples not covered in the text.
Comments on problems relating to the large lecture room for the PCE/PCEF
group have been registered, and Tony and Stephen will attempt to mitigate
them to the best of their abilities.
Minutes of the Spring term Staff/Student Exchange meeting for Postgraduate
Certificates in Economics, Economics and Finance, and Finance held on
Wednesday 26th February 2003
The meeting was attended by:
Student Representatives:
Ania Thiemann (PCE)
Patrick O’Callaghan (PCE)
Holly Krambeck (PCEF)
Salman Haq (PCF)
Jamal Hashi (PCF)
Academic Staff
Stephen Wright (Director, Certificate Programmes)
Marco Barassi
Ron Smith
Gylfi Zoega
Apologies for absence were received in advance from Norvald Instefjord
Dealing with questions from students
The meeting started with a general discussion of the way in which questions from
students were handled in lectures, on which there seemed to be common issues to
discuss across all three programmes. The student representatives reported comments
that were almost invariably supportive of the principle that questions should be
allowed; but equally it was felt that on some occasions, and in the case of some
particular individual students, questions were inappropriate and/or too frequently
asked, and that this had an adverse impact on the progress of lectures. It was agreed
that lecturers should bear these comments in mind, and should in future be prepared to
take a harder line with persistent questioners.
Financial Markets (Instefjord, PCF/PCEF)
It was reported that a high proportion of students were finding this course tough, and
some very tough indeed. PCEF students in particular seemed to be having
difficulties. Mr Haq (PCF) felt however that possibly the complaints in part reflected
failure to do the advance reading. But the general mood amongst the student
representatives was that the course was pitched at too high a level.
Ms Krambeck (PCEF) suggested that it might be helpful if the introductory course in
the first term included an examined element, to motivate students enough for them to
be prepared for the full-scale course. She also noted that having the lectures in a
single 3 hour session made it even harder going.
The representatives did note that the element of examined coursework helped to focus
students, and to some extent reassure them that they had grasped some of the key
concepts.
It was agreed that I would convey these comments to Norvald, although it was noted
that it was rather late in the course to make any major changes (students should bear
in mind that, while these meetings represent a formal channel for feedback, we are
always ready to receive feedback at any stage of the programme). In particular it was
agreed that I suggest that the remaining element of the course should perhaps have an
element of remedial coverage of some of the key concepts earlier on.
I have since done so, and Norvald has agreed to bear these comments in mind both
during the rest of this course, and in planning for future years.
Applied Finance & Statistics (Barassi, PCF)
Students were generally very happy with this course. There had been a positive
reaction to the introductory coverage of key basic concepts, in particular.
There were requests for more systematic references to textbooks, which were helpful
in particular in revision. Marco noted that this problem arose in part from the wide
range of textbooks used; but it was agreed that in future references should be provided
to at least one core textbook.
Applied Economics and Statistics (Smith, PCE/PCEF)
Students were happy with the course, although they find it hard.
There have been some problems with the associated problem classes. There have been
some failures of communication by the class teacher, in particular in dealing with
questions from students, but Ron has already discussed these with him. Some of the
material is tough going, because it is rather abstract. There was a request for more
empirical questions, but Ron noted that the emphasis would in any case move in that
direction towards the end of the course, and that as this happens some of the more
difficult ideas fall into place. It was agreed that a significant proportion of the
problems arose from the sheer numbers of students in the class. It was agreed that
next year we shall try to ensure that the class is split at least into two groups.
Macroeconomics (Zoega, PCE/PCEF)
Generally well received. The students had welcomed the inclusion of a guest lecturer
on monetary policy from the Bank of England.
Problem classes were also generally well received, though there was a request for
rather more monitoring of teaching to ensure greater homogeneity of approach.
Other Issues
The student representatives made a request for model answers to past examinations,
or at least some indication of marking schemes. It was noted however that lecturers
usually do cover this issue fairly thoroughly in revision lectures, and that exercises set
during the course usually provide a very good indication of exam content.
There was a discussion of the problems relating to timing of exams. Some students
found it hard to have a period of 10 days over which they took several exams, and the
need to take a significant amount of leave. Various alternatives were discussed, such
as evening or weekend exams, but Ron noted that most of these had been tried at
some stage in the past, and all had proved unsatisfactory in some way or other. It was
agreed that we should survey students to get a feel for current preferences on this
issue, and student representatives were invited to email me with suggestions of
possible alternative arrangements.
It was agreed that it might be worth considering shifting the QT examinations to be
earlier in the programme – possibly at around the same time as the microeconomics
exam.
Stephen Wright