Local-Global-Local Loop in International Curriculum Development - Evidence from Designing a Financial Markets Curriculum for Management Students

Internationalization of Higher Education, 2010

25 Pages Posted: 8 Apr 2011 Last revised: 23 Nov 2011

See all articles by Madhvi Sethi

Madhvi Sethi

Symbiosis International University - Symbiosis Institute of Business Management, Bengaluru

Date Written: October 15, 2010

Abstract

Designing the curriculum for an international setting is always a challenging yet enthralling experience. With the scope of education becoming more and more global, the idea of culturally fit curriculum has gained a lot of relevance. The Local-Global-Local loop in designing the curriculum can help in incorporating the word “international” in our subjects in its pure sense. This paper focuses on the loop and its implementation in developing and refining curriculum for a post graduate management course called financial markets. The Local-Global-Local loop can be defined as a process of refinement wherein the curriculum has been developed in the local environment of a country, expanded using the global context and which can then be refined locally to cater to another country. It employs giving assignments such that they fulfil the criteria of bringing together local and global perspectives. Such a loop would help in conceptualising the theory first and then making it country specific to derive understanding of the global and local scenario as a synergistic whole. By triggering such comparisons, it provides more learning among the multi-cultural students and facilitates true “international” learning. The case study provided helps in understanding how a faculty can refine the curriculum of a subject which has to be taught to students belonging to different management programmes. The course called Financial Markets was offered to students of General Business Management Programme, and the faculty was then asked to teach the same course to a batch of students enrolled for the International Business Management Programme. The subject was renamed Global Financial Markets for the international business programme. The challenges for the faculty were manifold:

• How to create the conceptual portion of the course which would be applicable to students across the globe? • How to change the truly local nature of the curriculum to a global one? • How should one approach the subject ? Should one go from generalization to specifications or vice versa? • What extent of “global” can one get into? • How does one establish the local-global and global-local connect? • How to make the curriculum and the subject engrossing for the students? How to not make it overflowing with information and at the same time provide the necessary flow of information? • How to give challenging assignments to support such a curriculum?

The paper discusses a real life situation about developing the curriculum and how these challenges were met to get a favourable feedback from the students wherever the course has been taught till date.

Keywords: international curriculum, local-global-local loop, financial markets course

Suggested Citation

Sethi, Madhvi, Local-Global-Local Loop in International Curriculum Development - Evidence from Designing a Financial Markets Curriculum for Management Students (October 15, 2010). Internationalization of Higher Education, 2010, Available at SSRN: https://ssrn.com/abstract=1803924

Madhvi Sethi (Contact Author)

Symbiosis International University - Symbiosis Institute of Business Management, Bengaluru ( email )

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