Tracking the Behavior of Players in a Finance Simulation and Identifying Work Patterns

This paper summarizes the results of using an Excel-based simulation run on a finance course. The activity intends to instruct the students that firms with a negative cash cycle and with negative working capital needs do not have to borrow short term bank debt because growth in sales provide funds spontaneously. Students’ learning has been assessed using achievement tests and analyzing traces. Conclusions of the research are: students stayed active, focused their work on the key actions, and worked where the instructor wanted them to work; there was knowledge acquisition since the tests provide evidence of learning; and the activity was well-accepted by the students.