Guidance

A good friend of mine, Steve Markoff, has written an excellent essay on learning to teach by being a student. It is well worth reading at https://blogs.montclair.edu/academy/2011/04/11/being-a-student/.

Over the years, I have taken classes in everything from Russian culture and ballroom dancing to jewelry making and photography just to remind myself of what it is like to be the person in class who feels lost and confused. Many universities allow faculty members to take classes for free or at reduced prices. Put aside your fears and go sign up for a class where you are not the expert.
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When it comes to college students, the old saying “you don’t know what you don’t know” is all too often true. For the most part, they are young people who have only seen a very narrow slice of life and, like the blind men and the elephant, they believe that the slice of life they have experienced represents the reality of life. Thus, at times, they need guidance even though they may not ask for it.

I will give my third test of the semester next Monday. I am often frustrated that grades don’t change much between the first test and the second. The students who make As and Bs continue to work well and make more As and Bs. The students who make Cs and Ds continue to flounder and make more Cs and Ds. By the time we get to the third test, I really want to see those Cs and Ds turn into As and Bs

I will often call in the students who do poorly on a test and they will eagerly confess that they are doing in my class exactly what they have always done in all of their classes. Apparently, they believe this is the one set way to prepare for a class. They then seem stunned when I respond “well, your strategy is not working very well. You need to make significant changes. Einstein said that the definition of insanity was doing the same thing over and over again and expecting different results.”

There is obviously some difference between students based on their knack for the subject matter. Some students simply see the underlying logic more easily than do other students. However, in my opinion, the biggest variables tend to be hours spent in study and the efficiency with which they use those hours. Students will resist this idea like the plague but I will ask them “if you spend three hours studying poorly and your neighbor spends 10 hours studying well, you know who is going to make the higher grade. So, don’t even try to tell me that more time studying and better spent time is not going to help you to do better.” (Students are like everyone else – what they really want is a magic bullet that will help them to do better without requiring any more work.)

Many students who struggle have two basic problems: they don’t spend enough time studying (either before class or after class) and, even if they want to study more, they are not sure how to fill up their time. I’m convinced that most classes in school (from kindergarten until they walk into my class in college) don’t teach students how to study.

So, as we approach our third test (where I’m really looking for some of those Cs and Ds to step up and turn their engine around), I do two things.

First, I suggest a very specific number of hours for them to study and urge them to keep a calendar so they know that they have studied enough. I suggest 10-12 hours for my introductory class and 12-18 hours for my upper-level class. You may expect more or less from your students but you might as well tell them what you expect. Basically, I want them to block off the week-end and immerse themselves in getting a full grasp of the material because it is rather complex.

Second, I give them specific assignments that I think will help them come to understand the material (or push them to come to me to seek help). I give them the test I gave last fall on this material along with the answers. I warn them that I am going to give them a different test but this will provide them some idea of what I expect and how I test this material. That alone should keep them busy for two hours on Saturday morning. Also, as we cover material, I will frequently send them problems by email and say “if you understood what I wanted from class today, here’s an exercise that I would expect you to be able to work.” I do provide an answer but no work. I want them to figure out where that answer came from. I am trying to give them productive ways to fill up those needed hours of study.

Having an A student make an A is wonderful but I imagine they would have done well without my help. Having a C or a D student make a C or D is frustrating but it is just one of the sad parts of this occupation. It is sad because I wasn’t able to make a difference.

However, having students start out with low grades but then having them figure out how to change the way they prepare so that they grow into an A student is my very favorite part of being a teacher. It is with those students that I feel I make a genuine difference. Learning is not magic. More time better spent can make a huge difference. Sometimes students need that guidance.

UCONN WIns!

My undergraduate alma mater won ugly, but they won. And since it's not gymnastics or diving, there are no points for style.

I think I'll give my students a couple point bonus on their exam Thursday because I'm in such a good mood.

My Picture With Bill Walton

I just got back from the R.I.S.E. conference in Dayton. There were some pretty good sessions, and my students got a lot out of it (as usual). The highlight for me was hearing Bill Walton (the "World's Tallest Grateful Dead Fan") speak -- I grew up a Boston Celtics fan, and he closed his career (as the quintessential Sixth Man) with them.

He was an exceptional speaker - since he's only 5 years older than me, his illustrations and anecdotes were a real trip down memory lane. Also, he's gone through some major stress: he's had over 60 surgeries on his back and feet, and spent almost two years on the floor due to spinal problems. At one point, he was so depressed and in despair that he contemplated suicide. So I get where he's coming from.

Now, only a few years after having his spine pretty much surgically reconstructed in an amazing medical procedure (they basically built an internal support cage around his spine), he's cycled 100 miles across Death Valley.

And yet, the recurring themes of his talk were family ("there's nothing like the pride of a father") relationships, and a whole lot of John Wooden memories. There's something about major crap happening to you (and I know that of which I speak) that gives you perspective.

As a father, cyclist, beate up former jock, and child of the 70s, I can say that I've heard few talks that affected me as much.

Afterward, we (I and my two students) got a chance to get our picture taken with him. Since I operate under a pseudonym, I cut out everyone's face. But just to give you a sense of proportion everyone's head (except for Walton's) is cropped just at the top of the head - I'm about 5' 7"", and the taller of my two students (the one to my left) is 6'2"". The top of my head was about a good half a foot below Walton's chin- it looks like he's standing on a chair. He is an absurdly tall man.

Now THAT was cool.

Back In Dayton Again

I'm out at the R.I.S.E. forum in Dayton with a couple of Unknown University students. I've seen about a half dozen of these, so I thought I'd take a few minutes off from the speakers and knock out a quick post.

We have our new (used) car, and settled with the insurance company on the old one (they came up about $300 from their initial offer on our old car, so the arguing paid off. And, for a net cost of $1400 (the amount of the new (used) car we bought less the insurance settlement, we went from a $2000 Camry with 125,000 miles on it (and some minor body damage) to a 2001 Camry with only 85,000 miles (and a body in pretty much pristine shape. So, all in all, it worked out.

Time to go back for a few more speakers and catch up with some old friends. Then it's back to the hotel room to put up a video for my students.

Last semester, I put together a fairly nice video on Modern Portfolio Theory (the math of variance/covariance, portfolio risk and return, efficient frontier, etc...). I'm rounding it out with another one on some historical returns (basically chapter 5 from Bodie, Kane, and Marcus' investments text). This means that I don;t have to lose class time just because I'm away.
(we cancelled class Friday, since I'm out of town).

So even while I'm away, my students don't have to feel deprived (yeah, right).

Back to the speakers.

Murphy is Alive and Well (And So Are We)

I was looking forward to our spring break - an entire uninterrupted week to work on research.

Hah! Enter Murphy, stage left.

A week before the break, the Unknown Wife got rear ended less than a mile from our house. As a result, our second car got totalled (mine - a ten year old Camry in fine running order) and she ended up going to the ER to get checked out for whiplash (she's o.k., but it blew almost 7 hours of our night). Luckily, she didn't have the kinds in the car.

Since then, she's been on muscle relaxants and going to physical therapy, and I've been either arguing with the insurance company about how much our car is worth or looking for a new (used) car - we're cheap so we don't buy new cars. Unfortunately, this requires time and search costs (and dealing with used car dealers, which is a whole lot of fun). All in all, I've had a brief early glimpse of a hell Dante never imagined - talking with insurance companies and used car dealers for all eternity.

Net result - a whole week basically down the toilet (which I woke up today to find is clogged, by the way - insert metaphor here).

It seems to be resolving - today we hear from the insurance company one last time, so we should be getting a check. Also, we're finally going to pick up a new used car (a Camry with less than 85,000 miles, which means it's barely broken in).

We still have to settle with the insurance company at some point about UW's injuries, but that comes after treatment is finished. It'll probably mean some $$ for the pain and suffering (not a lot, but some), but it still won't give us back our lost week.

The important thing is that everyone is o.k.

But I'd sure like to have that week back.

On an unrelated joke, this Dilbert cartoon tickled my funny bone. There seem to be many people on the green technologies bandwagon. I also think technology will end up solving our current environmental issues in ways we currently can;t even imagine. However, at present, most current green tech is more vaporware than real.

To me, green tech believers ofttimes come across as being in some strange religious sect (and I know about religious sects - I'm a proud member of one that believes some pretty outrageous things (like the God who made everything knows and cares about me personally, and sent his own son to die for me, etc...). And, like some members of my sect, they can often be pretty obnoxious (re: Jerry Falwell, Jim Baker, or the televangelist of your choice).

Anyway, here's the cartoon. Dogbert has the proper attitude: when someone gets on your nerves, find a way to make money off them.

As Glenn Reynolds says, "heh".

Big Mistakes

This entry on my blog should prove two things: (1) I lead a relatively boring existence and (2) I spend way too much time thinking about teaching.

Yesterday for lunch, I went to a nearby Jimmy John’s Deli and got a sandwich. As I sat there eating it, I pulled out a piece of paper and across the top I wrote: What are the biggest mistakes that college teachers make? I immediately listed out 9 or 10 mistakes that I think college teachers are prone to make, mistakes that prevent them from moving from good to great. Then, I decided to whittle the number down to a “Top Five” list. That was tricky because several of my items appear to be quite prevalent. Finally, about the time I had taken the last bite of my sandwich, I turned my final five into a countdown somewhat like a David Letterman list on late night television. So, straight from Jimmy John’s Deli in Richmond, Virginia, here are my “Top Five Mistakes That College Teachers Make.” If you think I left something off, let me know.

Number Five: Overreliance on Power Point Slides. I never use Power Point slides in my own classes but, if I did, I would make sure to ask a question on the student evaluations each year about whether students liked my usage or not. I understand how they can be very handy (especially since textbook publishers will even create them for you) as a way of organizing material. However, I think they send a message to students that you are simply going to read Power Point slides to them as they sit there in the semi-dark trying to stay awake. Okay, I know that most teachers will say that they throw up the slides and then discuss the material but I have heard way too many students say “that lazy guy just reads Power Point slides to us that he didn’t even take the time to produce.” The way you view the process and the way your students view it may be radically different. Plus, I am not certain that it is easy to use Power Point slides to create active interaction with the students. If the slide provides the information, where is the conversation, where is the student thinking? My recommendation – just ask your students on their evaluations: “Should the professor use Power Point slides more or less or the same amount as now?” If a lot of students say “less,” I would pay serious attention to that advice. If they say “more,” then go for it.

Number Four: Failure to Engage Students with the Material. College teachers often seem to have a belief that students bring an active curiosity and desire to learn with them to class. If (when) that proves false, they appear to be mystified. “Why do they take my class if they don’t want to learn the material?” Well, they must take 30-40 courses to graduate so they have to sign up for something. Over my 40 years in this business, I have had a few students who walked in with an “I am dying to learn all about Intermediate Accounting” attitude. But, a vast majority of them walk in with a neutral attitude; they need to be convinced they are not wasting their time. After spending 80 percent of their lives learning stuff like the state capitals, the periodic table, how to outline a sentence, and the Pythagorean theorem, many students have had the joy of learning mashed out of them before they get to you.

How do you engage students? One possibility is to link the coverage to some personal benefit – how will their lives be better for knowing this material? “Learn it because I say so” doesn’t hold too much power over the young people of today. Or, show the student why you find the material interesting. If you have read this blog for long, you know that I’m a huge proponent of trying to puzzle students. Why is it done this way? What does this accomplish? Why was this action taken? How do these two things fit together? If you simply assume your students are truly curious about the Pythagorean theorem, you may be upset when they fall asleep in class or seem more interested in texting than in learning.

Number Three: Writing Tests that Reward Memorization. We all have heard that the purpose of college is to help develop critical thinking skills. That is a great and worthy goal. But students will learn based on how they expect to be tested. If you base your tests on memorization (“name the four criteria for a capitalized lease”), you can forget about developing critical thinking skills. If you want students to go beyond memorization, your tests have to go beyond memorization. “If the US had not made the Louisiana Purchase in 1803, what are possible impacts on the growth of slavery in this country?” Okay, that may lead to an answer that requires some work to grade but it allows students to demonstrate their understanding. If they expect to be tested in a certain way, their learning will be directed in that same way. Textbook publishers often provide test banks. Those questions are primarily designed to test memorization. You set the tone for your entire course by the way you test your students. Work to write thoughtful questions and you will be surprised by how much more thoughtful your students will become.

Number Two: Most Teachers Talk Too Much. Teachers get nervous during silences. They feel uncomfortable. Consequently, they rush in to fill up the quiet with words and words and more words. The less the teacher talks and the more the students talk the better. The teacher should guide the conversation and make sure everyone gets involved. After that, the less said by the teacher the better. However, that is hard to do. The students would much prefer for you to do all the talking because then they can turn their brains off and just write down what you say. Don’t let them play that game with you. Push them to talk. I use the Socratic Method so I call on them in rapid fire fashion but you can push them to talk in many ways. If you have read my Teaching Tips book at https://facultystaff.richmond.edu/~jhoyle/ you know that I believe in the 50-50 Rule. That is the teacher should never do more than 50 percent of the talking. Push your students to do their 50 percent.

Number One: Failure to Force Students to Be Prepared for Class. In my opinion, the single biggest factor in having a great class is the preparation level of the students. If they are not prepared, what can they possibly add to the class? They can just write down notes. But, when they are well prepared, they can add ideas, suggestions, a different perspective, and the like. A class with well prepared students can be a true joy as the conversation and the thinking range throughout the topics under consideration. To me, that is education at its very best. That is why I became a teacher.

How do you get students to prepare for class? First, I think you have to be very specific as to what you want them to do. Don’t just throw out vague assignments. College students do not do vague very well. They ignore vague. Tell them exactly what you want them to do. Second, make sure the subsequent class actually incorporates that assignment in some way so students do not feel like they were being asked to do busy work. I remember being infuriated in college when I would spend hours on an assignment that was never mentioned by the teacher in any way. I certainly did make that same mistake twice. Third, don’t hesitate to be confrontational if the assignment is not done to your satisfaction. College students are adults. If they had an assignment at a job and did not do it, they would face the wrath of the boss very quickly. You don’t have to treat them like delicate flowers. If you give an assignment that you use in class and students are not prepared, talk to them about the need for doing the work. I never scream and yell at my students but I certainly let them know if I feel they have not upheld their half of the class work. I often stop students as they leave class with “you did not seem prepared today and I fully expect better from you at our next class.”


If you want to see an improvement in your teaching, pick one of these five and work on it for awhile. Or, pick a different one that you think applies to you. But you do have to make an effort to work on it. Just contemplating mistakes doesn’t do you or your students any good.

Catalyst for Jawboning

Over the last several days, the Fed has trotted out multiple spokesmen to suggest there might not be another round of trash credit creation (quantitative easing). The Dallas Fed's Fisher came out on Tuesday and suggested the program should not be extended when it ends in June and that things may already have gone too far. Lockhart of Atlanta stated "it's a high bar" in response to questions about QE3. Minneapolis' Korcherlakota stated the economy would have to "worsen materially" to extend the bond market manipulation. Finally, Plosser of the Philadelphia Fed recommended not merely stopping or even reversing the bond buying but also raising interest rates.

The central bank should set a pace for selling its mortgage and Treasury holdings in conjunction with raising interest rates, Plosser said today in a speech in New York. He suggested selling $125 billion for every 0.25 percentage-point rise in the benchmark rate to almost eliminate $1.5 trillion in bank reserves.

So why is the Fed so concerned suddenly after abusing their authority in blatant fashion for more than two years? Clearly they don't care about inflation - having inflicted a tripling of oil prices, a doubling of most grains and even worse in some commodities upon the world. It would seem that they are concerned that people are catching on to what they are doing and starting to point the finger in the right direction. So now they need to very publicly posture as "inflation fighters" until people's attention wavers. And the spotlight is definitely turning their way. As the Financial Times reports:

The finger of blame is increasingly pointing toward central banks and the US Federal Reserve in particular. By printing money through quantitative easing, there are supposedly more dollars, yen and pounds chasing the same number of Beefy Crunch Burritos. Fed chairman Ben Bernanke actually was asked during a speaking engagement last month whether the central bank was culpable for the revolution in Egypt.

“I think it’s entirely unfair to attribute excess demand pressures in emerging markets to US monetary policy because emerging markets have all the tools they need to address excess demand in those countries,” said the clearly annoyed banker.

But an increasingly common view is that, with the very best intentions, he is at fault. Critics regularly cite the words of Milton Friedman, who said that “inflation is always and everywhere a monetary phenomenon”.

Essentially, the Bernak is standing over the body with a bloody knife in his hands and the lights have just turned on. He seems determined to brazen it out and has sent out his minions to talk about all of the wonderful things he's done and will do if we just leave him alone with his power. This is all an attempt to distract attention for the Fed's culpability in the destruction of purchasing power worldwide.

It is all about perception. That is why the Fed cares about inflation expectations, even while deliberately inflicting inflation on the economy. They can more effectively steal the value of your savings and income if you don't know what is going on. That job becomes much harder when the population starts to adjust their thinking and behavior to account for the destructive acts of the Fed. It is so important to prevent that change in thought and deed that Paul Volcker once raised short-term interest rates above 15% to prevent it.

With the spotlight now focused firmly on the Fed, this weeks' jawboning is just the first act of their attempt to change the subject. If that doesn't work, they might actually be forced to DO something. In particular they will need to act to stymie commodity speculation - which is the portion of the iceberg that everyone can see, as it affects the daily life of nearly everyone. While they are also likely to attempt to prop up the stock market, it will be tough to do both at the same time since commodity producers and related firms have been a key driver of the new equity bubble.

With private lending in the US essentially dead, the government is the sole source of credit growth right now. If the debt limit interferes with further bubble finance at the same time as the Fed is forced to try and look responsible, the speculative markets could be in for a rough ride indeed.