An Introductory Course in Financial Management: Challenges and Responses (Survey)

Abstract

The introductory financial management course serves as a critical foundation for both finance majors and non-majors, shaping students’ understanding of core financial concepts and decision-making skills. This study presents survey findings from 64 finance faculty members across AACSB-accredited and aspiring institutions, examining course content and design, teaching techniques, instructional autonomy, assessment practices, and emerging trends such as artificial intelligence use. Results reveal a consistent emphasis on foundational topics, including time value of money, valuation, and risk, alongside substantial variability in teaching methods, grading policies, and experiential learning integration. Faculty autonomy in course design is prevalent, with most instructors selecting textbooks and determining course objectives independently. Although exams remain the dominant form of assessment, some instructors incorporate case analyses and other active learning activities. The majority of faculty currently restrict student use of AI tools, reflecting ongoing uncertainty about technology’s role in finance education. The study also identifies gaps in coverage of topics such as working capital policy and personal finance, suggesting areas for future curricular development. These findings highlight the balance between standardization and flexibility in delivering this pivotal course and underscore the need for continued research into best practices that align pedagogical approaches with evolving educational and industry demands.