Appling Learning Theory
Unit of Competency: (FNSFLIT205A) Develop understanding of the Australian financial system and Markets.
Learning Theory:
In order to engage learners with learning preferences of all styles a blended approach to learning is essential. The learning theory that forms the underpinnings of the design of my online course with be based on cognitive notions.
The cognitive approach to learning suggests that learning is connected to meaningfulness and insight. This approach provides for learning to come about from a learner’s ability to complete patterns and solve problems by considering the contextual nature of the content they are learning.
By applying cognitive concepts to the design of training it allows for flexibility in the types of activities learners can complete. To provide a holistic learning process activities that engage learners with inclinations not only towards the four major areas of the VARK instrument (Visual, Read/Write, Aural and Kinesthetic) but also the additional aspects of learning preferences found within Honey and Mumford’s learning profiles; Activist, Reflector, Pragmatist and Theorist.
Learning Outcomes:
By the end of the course, participants should be able to:
* Accurately describe the Australian financial market
* Comprehensively explain the role and function of the Reserve Bank of Australia (RBA)
* Explain in detail Australia’s monetary system
* Explain in detail key factors that influence Australia’s economy
*Accurately describe the role of regulators on the Financial Service Industry
Module 1: The Australian Financial Market
Element of Competency – Describe what is meant by the Australian financial market
Activities: information on specific financial markets, the participants within a financial market, when they emerged and the purpose of financial markets is presented to learners through written bullet points and visually represented through graphs and diagrams sequenced in topical order. At the end of this module learners will be required to complete an activity based on the role of banks and other financial institutions. The aim will be to provide an opportunity for learners to analyse the role of banks as financial intermediaries by “discussing” via an online format. A discussion board forum will be utilised to ensure learners can add comments at their own pace but provide an opportunity to formulate an analysis of their understanding of the Australian financial market.Learning Style: All information throughout module 1 will be characterised in both written and visual form (graphs and diagrams) to provide for visual learning preferences. However all written material will be in lists, bullet points, glossaries and definition sections to engage read/write learners as well. At the end of the module there will also be a review activity which will be focused towards Aural and Kinesthetic learners because it will require the formulation of a discussion of the information contained in module 1.
Module 2: The Role and Function of the Reserve Bank of Australia
Element of Competency – Explain the function and role of the Reserve Bank of Australia (RBA)
Activities: learners will be required to review facts (in written and visual form) about the RBA. At the end of the module learners will be required to engage in a discussion on the effect of the RBA on everyday consumers.Learning Style: In addition to catering for learners with aural and read/write preferences the discussion will be focused on the effects the RBA has on everyday consumers so provide learners to transpose their existing understanding of financial concepts to the information that has just been reviewed which will also engage learners that have a pragmatist learning preference.
Module 3: Australia’s Monetary System
Element of Competency – Explain Australia’s monetary system
Activities: learners will be required to research and formulate their own understanding of Australia’s monetary system within a guided framework of the information provided throughout the online course; this will then be compiled via a discussion forum.
Learning style: This activity will cater more for learners with a theorist/ reflector learning preference but because if will be a differently presented module to the first two will break up the content to continually engage Kinesthetic/ activist learning preferences.
Module 4: Influences on the Australian Economy
Element of Competency – Explain the key factors that influence the Australian economy
Activities: this module will require learners to focus on the inter-relationship of key factors on the Australian economy, learners will be required to create a flow chart or diagram of how these factors inter-relate while also formulating a cohesive explanation on the impact of these factors which can be developed within the online learning environmentLearning style: this activity is primarily designed to engage visual learners as by this stage in the course they may be overwhelmed by the masses on information provided to them in written form due to the nature of the content of the course. Kinesthetic learners will also gain some benefit from this activity as it will require immediate action.
Module 5: The role of regulators
Element of Competency – Describe the role of regulators
Activities: learners will be required to review information on the role of regulators provided to them in both written and visual form. They will also be required to participate in an online discussion based on the necessity of promoting confidence in Australia’s financial system.Learning style: the discussion activity to be completed by the end of module five will aim to cater for learners with aural and activist learning preferences but will also require learners to think contextually so will engage learners with a theorist and reflector learning style
