DISCIPLINE
Business & Law

DURATION
Over several learning sessions, 2-3 week duration; implemented towards the end of the subject.

ICT USED
Synchronous chat tool and asynchronous discussion tool provided in web-based management system: TopClass or Blackboard

DELIVERY CONTEXT
The simulation is conducted online. The allocation of roles and instruction about how to conduct the online activity is explained in a face-to-face class, however this could also be conducted online.

There is a debriefing session as a face-to-face class.

TARGET AUDIENCE
Postgraduate students

A thorough understanding of the subject (regulation of securities markets) is required, thus the online role-play is positioned towards the end of the subject.

COHORT
Each student is assigned one role and the role-play is designed to support 20 students. Thus the maximum number of students that can be supported is dependent on the number of tutors available as each role-play “group” is supported by one tutor and the actual maximum has been 40 students with two lecturers.

BROADER CONTEXT
This learning task is at the end of students' other study and other assessment tasks. The alternative to the role-play option is to do a role-play essay (like an exam). It reinforces the theoretical balance between law and finance and a broader discussion of discipline based research techniques.

Students use it as an elective subject in their masters’ degree. Most choose to do the role-play rather than the essay.

It is intended that students will achieve the following outcomes of the subject:

1. Knowledge outcomes

• Understand the regulatory nature of securities markets, including the process of regulation and the various players in it.
• Appreciate alternative but valid research approaches (i.e. law and finance) relevant to the regulatory debates.

2. Capability outcomes

• Critically evaluate current issues of regulatory debate and reform in securities markets, such as insider trading and takeovers utilising legal and finance theoretical paradigms as well as their respective methods of research.
• Be capable of utilising the web for accessing information, evaluating its usefulness and interacting with others in and outside the course.
• Be capable of all forms of communication including the development and maintenance of personal and professional relationships.

3. Value outcomes

• Work self-critically by yourself or as part of a team.
• Have developed an enhanced respect for other disciplinary and cultural approaches to securities markets' regulation (including self-regulation and the role of business ethics).

4. The specific objectives of the anonymous role pay are for students to develop these by:

• Engaging as important Securities Markets Regulation (SMR) players in a role-play. This should encourage deeper approaches to learning of SMR concepts by 'experiencing' the interactions of the goals, aims and ambitions and interests of different securities market player. Deeper approaches to learning are highly correlated with better quality learning. Hence you should increase the quality of your learning the key knowledge and understanding of SMR processes (particularly the political, legal, finance as well as dimensions to decision making during a securities markets conflict).
• Developing communication, negotiation and decision making skills, particularly in relation to understanding how meaning is conveyed via the web. This should also help your understanding of the advantages and disadvantages of electronic communication in important issues.
• Experiencing learning and interacting as an anonymous learner by using electronic media (i.e. UTSOnline private messaging plus Discussions). i.e. throw off the baggage of your views and 'live' and experience those views of your character.

IMPLEMENTATION OF ASSESSMENT STRATEGIES
Worth 40% in total. It is an optional task. The three individual tasks are: 5% role profile, 10% role-playing, 25% for reflective report.

(See separate comments on design's tasks elsewhere.)

IMPORTANCE OF ASSESSMENT STRATEGIES USED
Following Paul Ramsden’s logic “that assessment drives learning” – the assessment provides a clear allocation of tasks and an appropriate weighting of the exercises. It enables students to be rewarded for the quality of their contribution rather than quantity. Having two lecturers involved in the marking acts as a positive counter-balance to bias and a simple way of resolving disputed marks.

WHY ICT IS USED
This Postgraduate subject is being taught under flexible learning conditions that re-enforce a theoretical paradigm of a hierarchy of players in securities markets (published in a journal in 1990 and a book in 1994) and provides students with an application of a theory of securities markets.

In class the students react to their personal positions – ICT removes a barrier.

The learning problem will vary from time to time, but often relates to contemporary issues. The activity was developed with a view to equipping students to look at problems from more than one perspective and to understand a rigorous basis for making informed decisions and recommendations that are likely to succeed in a complex environment. The basic problem was the integration of various themes which are usually taught in isolation.

HOW ICT USE HELPS
The form of an anonymous role-play facilitates challenging students' existing positions. It enables full- and part-time students to work together easily. It is inclusive rather than exclusive. International students could spend more preparation time but still provide a speedy response to changes in the role-play and events.

MOST IMPORTANT ICT CONTRIBUTION TO LEARNING DESIGN
The anonymity allows students in an unfair position to experience power and decision-making capabilities in a safe and exciting environment.