Research Article
Evaluation of Learning Outcomes from Participation in a Student-Managed Commodity Investment Fund
A. Ford Ramsey(a) and Olga Isengildina-Massa(a)
(a)Virginia Tech
JEL Codes: A20, G11, Q02
Keywords: Commodities, experiential learning, finance, futures, investing
Publish Date: December 14, 2020
Volume 2, Issue 6
Abstract
Students in agricultural and applied economics are expected to develop skills and knowledge allowing them to perform tasks in agribusinesses and related industries. Skills range from technical abilities in the discipline to soft skills, such as communication ability or leadership performance, which may be more broadly applicable. We present results of a survey of undergraduates and graduate students participating in a student-managed commodity investment fund. The fund provides an experiential learning opportunity for undergraduate students and allows them to learn about commodity markets (futures, options, and other derivatives) while simultaneously improving technical, communication, and leadership skills. Students consider soft skills to be an important factor determining their participation and improve both soft and hard skills through participation.
References
Artz, G.M., K.L. Kimle, and P.F. Orazem. 2014. “Does the Jack of All Trades Hold the Winning Hand? Comparing the Role of Specialized versus General Skills in the Returns to an Agricultural Degree.” American Journal of Agricultural Economics 96(1):193–212.
Bransford, J.D., A.L. Brown, and R.R. Cocking. 2000. How People Learn (Vol. 11). Washington, DC: National Academy Press.
Charlton, W.T., Jr., J. Earl II, and J.J. Stevens. 2015. “Expanding Management in Student Managed Investment Funds.” Journal of Financial Education 41(2):1–23.
Clinebell, J., and J. Murphy. 2016. “Student Managed Investment Funds: The Perspectives of Alumni.” Journal of Financial Education 42(3):304–312.
Crawford, P., S. Land, W. Fink, R. Dalton, and L. Fielditz. 2011. Comparative Analysis of Soft Skills: What Is Most Important for New Graduates. Washington, DC: Association of Public Land Grant Universities.
Curtis, K., and J. Mahon. 2010. “Using Extension Fieldwork to Incorporate Experiential Learning into University Coursework.”Journal of Extension 48(2):1–8.
Dolan, R.C., and J.L. Stevens. 2006. “Business Conditions and Economic Analysis: An Experiential Learning Program for Economics Students.” The Journal of Economic Education 37(4):395–405.
Dolan, R.C., and J.L. Stevens. 2010. “Experiential Learning for Undergraduates in Economics and Finance: A True Top-Down
Investment Fund.” Journal of Financial Education 36(1):120–136.
Good, D.J., C.M. McIntyre, and M.A. Marchant. 2013. “The USDA Scholars Program: Innovations in a Summer Undergraduate Research Program.” NACTA Journal 3:62–70.
Hawtrey, K. 2007. “Using Experiential Learning Techniques.” The Journal of Economic Education 38(2):143–152.
Heckman, J.J., and T. Kautz. 2012. “Hard Evidence on Soft Skills.” Labour Economics 19(4): 451–464.
Isengildina-Massa, O., and A.F. Ramsey. 2019. “Student-Managed Commodity Fund: A New Frontier in Experiential Learning.” Journal of Agricultural and Applied Economics.
Kolb, D. 2014. Experiential Learning: Experience as the Source of Learning and Development. FT Press.
Kolb, D.A. 2007. The Kolb Learning Style Inventory. Boston, MA: Hay Resources Direct.
Kolb, A., and D. Kolb. 2005. “Learning Styles and Learning Spaces: Enhancing Experiential Learning in Higher Education.” Academy of Management Learning and Education (4)2:193–212.
Koontz, S.R., D.S. Peel, J.N. Trapp, and C.E. Ward. 1995a. “Teaching Agricultural Economics with an Experiential Learning Tool: The ‘Packer-Feeder Game.’” NACTA Journal: 23–28.
Koontz, S.R., D.S. Peel, J.N. Trapp, and C.E. Ward. 1995b. “Augmenting Agricultural Economics and Agribusiness Education with Experiential Learning.” Review of Agricultural Economics: 267–274.
Lawrence, E.C. 1990. “Learning Portfolio Management by Experience: University Student Investment Funds.” The Financial Review 25(1):165–173.
Marsh, L. E., Hashem, F. M., Cotton, C. P., Allen, A. L., Min, B., Clarke, M., & Eivazi, F. (2016). Research internships: A useful experience for honing soft and disciplinary skills of agricultural majors. NACTA Journal, 60(4), 379-384.
Peng, Z.J., W.P. Dukes, and R. Bremer. 2009. “Evidence on Student-Managed Funds: A Survey of U.S. Universities.” Business Education & Accreditation 1:55–64.
Riley, J.M. 2019. “Hedging with Futures: An Experiential Learning Game.” Applied Economics Teaching Resources 1:1–8.
Spencer, R.W., and D.F. Van Eynde. 1986. “Experiential Learning in Economics.” The Journal of Economic Education 17(4):289–294.
Trapp, J.N. 1989. “A Commodity Market Simulation Game for Teaching Market Risk Management.” Journal of Agricultural and Applied Economics 21(1):139–147.
Walser, T.M. 2009. “An Action Research Study of Student Self-Assessment in Higher Education.” Innovative Higher Education 34(5):299.
Articles in this issue
Evaluation of Learning Outcomes from Participation in a Student-Managed Commodity Investment Fund
A. Ford Ramsey and Olga Isengildina-Massa
Teaching about Diversity and Racism in Food Systems: An Example for Agricultural Economics and Related Departments
Jane Kolodinsky, Daniel Tobin
Educating the Next Generation of Interdisciplinary Researchers to Tackle Global Sustainability Challenges: A Graduate CourseÂ
Thomas W. Hertel
Flipping Together: A Collaborative Approach to a Flipped Class
Kasee L. Smith, Aaron J. Johnson, and Dain R. Johnson
Consolidation in the Farm Credit System: The Case of AgCountry and United
Erik D Hanson