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The gap between the Financial Mathematics expressed in textbooks and that practiced in banks

Queiroz, MRPPPD; Barbosa, JC; Noss, R; Hoyles, C; (2018) The gap between the Financial Mathematics expressed in textbooks and that practiced in banks. Acta Scientiae , 20 (2) pp. 96-116. 10.17648/acta.scientiae.v20iss2id3816. Green open access

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Abstract

In this study, we aim to characterize the gap between the Financial Mathematics as expressed in textbooks and what is practiced in banking institutions. Three textbooks selected from public universities in the Brazilian state of Bahia were analyzed, and bank employees working in two banks in a city of the same state were observed. We noted different routines expected of participants in these two contexts, different problems faced and wide variation in the use of technology. Bank employees cope with client requests by interacting with bank systems in routines that include data selection to input into systems and the solution approach are organized around outputs as critical steps. However, this type of participation is also related to concerns about executing procedures with the security and agility required by the context’s social practice. By contrast, Financial Mathematics reified in textbooks indicates pseudo-realistic exercises involving routines that include selecting models and calculation procedures as critical steps with only marginal use of technology, such as calculators.

Type: Article
Title: The gap between the Financial Mathematics expressed in textbooks and that practiced in banks
Open access status: An open access version is available from UCL Discovery
DOI: 10.17648/acta.scientiae.v20iss2id3816
Publisher version: https://doi.org/10.17648/acta.scientiae.v20iss2id3...
Language: English
Additional information: This work is licensed under a Creative Commons Attribution 4.0 International License. The images or other third party material in this article are included in the Creative Commons license, unless indicated otherwise in the credit line; if the material is not included under the Creative Commons license, users will need to obtain permission from the license holder to reproduce the material. To view a copy of this license, visit http://creativecommons.org/licenses/by/4.0/
Keywords: Financial Mathematics. Textbooks. Workplace. Gap.
UCL classification: UCL
UCL > Provost and Vice Provost Offices
UCL > Provost and Vice Provost Offices > School of Education
UCL > Provost and Vice Provost Offices > School of Education > UCL Institute of Education
UCL > Provost and Vice Provost Offices > School of Education > UCL Institute of Education > IOE - Culture, Communication and Media
URI: https://discovery.ucl.ac.uk/id/eprint/10085524
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