Advantages
1. The big advantage is that the VBE generates unique financials for each business. This means there is much greater academic integrity across this assessment in a very large course.
2. The VBE is an
experiential learning
resource so improves student engagement with course content.
3. Adds variety and interest for a large first year cohort, many students feedback that the VBE is a fun element of the course.
4. Everything is digital so student
activity
in the VBE can be monitored.
5. The VBE trading doesn't require UQ teaching space and can be accessed through any computer with the correct software installed.
Challenges
1. Technology support can be challenging especially across a large cohort.
2. Need to get all of the teaching team on board with the VBE and related assessment.
3. Quite a lot of upfront organisation is needed to ensure orderly formation of student groups, attendance at VBE induction sessions and scheduling and monitoring of trading sessions.
Tips for implementation
1. Ensure the technology is robust and everyone involved understands the support required for 800+ students.
2. Trial run the assessment with a small group of students/colleagues to iron out any potential problems.
3. Consider forming a support group of recent past students to assist with the digital resource inductions and sessions.
How it supports academic integrity
The VBE resource carries the major benefit that it generates a unique set of financial statements for each virtual business and that these financial statement outcomes are influenced by student trading within the virtual world. This means that each student group is working on a fresh and verifiable set of financial data.