Simulation Pedagogy and Learner Engagement in a Finance course: A South African Higher Education Perspective
DOI:
https://doi.org/10.63569/ajopac/07/01/04Keywords:
Simulation-Based Experiential Learning, Deep Learning, Surface LearningAbstract
The aim of this study was to examine the relationship between simulation-based experiential learning (SBEL) and overall student satisfaction, with deep and surface learning serving as mediating variables, at a higher education institution. The primary objective of the study was to assess the level of student satisfaction following the implementation of an SBEL project with students enrolled in finance-related courses. A quantitative cross-sectional research design was used with data collected from a sample of 288 finance and business students after the completion of a client simulation project. The sampling method was purposive. A partial least squares structural equation model was applied, with simulation-based experiential learning serving as an exogenous variable that predicts student satisfaction. The data was analysed using SmartPLS. The primary findings of the study revealed that simulation-based experiential learning had a direct, positive, and significant impact on student satisfaction and the adoption of deep learning approaches. A secondary finding included, deep learning approaches also had a direct positive impact on student satisfaction. The mediated path revealed that SBEL enhanced satisfaction through the deep learning approach, whereas the relationship with surface learning was found to be insignificant. The study contributes to the empirical evidence on SBEL in South African higher education from a finance and business students’ context. In conclusion, the study highlights the importance of aligning experiential learning with educational strategies. Policy recommendations included formal integration of SBEL into curricula, faculty training in simulation design, and assessment reforms that reward deep learning.
References
Adib, H. (2024). Experiential learning in higher education: Assessing the role of business simulations in shaping student attitudes towards sustainability. International Journal of Management Education, 22(2), 100968. https://doi.org/10.1016/j.ijme.2024.100968
Alsharif, K. (2014). How do Teachers Interpret the Term ‘Constructivism’ as a Teaching Approach in the Riyadh Primary Schools Context? Procedia - Social and Behavioral Sciences, 141, 1009–1018. https://doi.org/10.1016/j.sbspro.2014.05.170
Avkiran, N. K., & Ringle, C. M. (2018). Rise of the partial least squares structural equation modeling: An application in banking. In International Series in Operations Research and Management Science (Vol. 267, pp. 1–29). Springer New York LLC. https://doi.org/10.1007/978-3-319-71691-6_1
Bakoush, M. (2022). Evaluating the role of simulation-based experiential learning in improving satisfaction of finance students. International Journal of Management Education, 20(3), 100690. https://doi.org/10.1016/j.ijme.2022.100690
Burdon, W. M., & Munro, K. (2017). Simulation – is it all worth it? The impact of simulation from the perspective of accounting students. International Journal of Management Education, 15(3), 429–448. https://doi.org/10.1016/j.ijme.2017.07.001
Carenys, J., Moya, S., & Perramon, J. (2017). Is it worth it to consider videogames in accounting education? A comparison of a simulation and a videogame in attributes, motivation and learning outcomes. Revista de Contabilidad-Spanish Accounting Review, 20(2), 118–130. https://doi.org/10.1016/j.rcsar.2016.07.003
Chen, J., Yan, W., Tian, Q., Chen, Q., & Chen, Y. (2025). Teacher’s roles and students’ flow experience in business simulation games: A quasi-experimental study. International Journal of Management Education, 23(2), 1–12. https://doi.org/10.1016/j.ijme.2025.101189
Cronbach, L. J. (1951). Coefficient alpha and the internal structure of tests. Psychometrika, 16(3), 297–334. https://doi.org/10.1007/BF02310555
Fornell, C., & Larcker, D. F. (1981). Evaluating Structural Equation Models with Unobservable Variables and Measurement Error. Journal of Marketing Research, 18(1), 39. https://doi.org/10.2307/3151312
Gittings, L., Taplin, R., & Kerr, R. (2020). Experiential learning activities in university accounting education: A systematic literature review. Journal of Accounting Education, 52, 100680. https://doi.org/10.1016/j.jaccedu.2020.100680
Hair, J. F., Black, W. C., Babin, B. J., & Anderson, R. E. (2019). MULTIVARIATE DATA ANALYSIS A Global Perspective. Saddle River Boston Columbus San Francisco New York Indianapolis London Toronto Sydney Singapore Tokyo Montreal Dubai Madrid Hong Kong Mexico City Munich Paris Amsterdam Cape Town, Upper.
Hair, J. F., Hult, G. T. M., Ringle, C. M., & Sarstedt, M. (2017). A Primer on Partial Least Squares Structural Equation Modeling (PLS-SEM). 2nd Edition. Sage Publications Inc., Thousand Oaks, CA. - References - Scientific Research Publishing. https://www.scirp.org/reference/referencespapers?referenceid=2297757
Hair, J. F., Risher, J. J., Sarstedt, M., & Ringle, C. M. (2019). When to use and how to report the results of PLS-SEM. European Business Review, 31(1), 2–24. https://doi.org/10.1108/EBR-11-2018-0203/FULL/XML
Henseler, J., Ringle, C. M., & Sarstedt, M. (2015). A new criterion for assessing discriminant validity in variance-based structural equation modeling. Journal of the Academy of Marketing Science, 43(1), 115–135. https://doi.org/10.1007/S11747-014-0403-8/FIGURES/8
Jallad, S. T. (2025). Effectiveness of Simulation-Based Education on Educational Practices of Communication Skills, Satisfaction, and Self-Confidence Among Undergraduate Nursing Students. CREATIVE NURSING, 31(2), 135–143. https://doi.org/10.1177/10784535241301115
Kageyama, Y., Zamudio, S. Z., & Barton, M. (2022). Incorporation of simulation features to improve higher order thinking skills. International Journal of Management Education, 20(2), 100628. https://doi.org/10.1016/j.ijme.2022.100628
Kolb, D. . (1984). Experiential Learning Experience as the Source of Learning and Development. Englewood Cliffs, NJ Prentice Hall. - References - Scientific Research Publishing. https://scirp.org/reference/referencespapers?referenceid=1223948
Lymperis, L. (2020). Social constructivism and participative learning beyond bricks and mortar - The Education and Development Forum (UKFIET). https://www.ukfiet.org/2020/social-constructivism-and-participative-learning-beyond-bricks-and-mortar/
Mc Pherson-Geyser, G., de Villiers, R., & Kavai, P. (2020). The use of experiential learning as a teaching strategy in Life Sciences. International Journal of Instruction, 13(3), 877–894. https://doi.org/10.29333/IJI.2020.13358A
McHauser, L., Schmitz, C., & Hammer, M. (2020). Model-factory-in-a-box: A portable solution that brings the complexity of a real factory and all the benefits of experiential-learning environments directly to learners in industry. Procedia Manufacturing, 45(2019), 246–252. https://doi.org/10.1016/j.promfg.2020.04.102
Okoro, C., & Tembo, J. (2025). Predictive performance of higher education students: the role of tutor attributes. International Journal of Innovation and Learning, 37(1), 16–37. https://doi.org/10.1504/IJIL.2025.142999
Pitic, D., & Irimiaș, T. (2023). Enhancing students’ engagement through a business simulation game: A qualitative study within a higher education management course. International Journal of Management Education, 21(3), 100839. https://doi.org/10.1016/j.ijme.2023.100839
Puren, K., Drewes, E., Cornelius, S., Viviers, J., & Jacobs, N. (2022). Reflecting on Four South African Case Studies of Experiential Learning in Spatial Planning to Inform Curriculum Transformation in Higher Education. Axiom Academic Publishers, 2(ISBN: 978-1-77630-468-4), 239–286. https://doi.org/10.62869/001c.122555
Randall, G., Wysong, S., Dilla, B., & Stodnick, M. (2025). Thrown into the fire: Do simulations in an introductory business course increase student engagement? International Journal of Management Education, 23(2), 101149. https://doi.org/10.1016/j.ijme.2025.101149
Sarstedt, M., Ringle, C. M., Smith, D., Reams, R., & Hair, J. F. (2014). Partial least squares structural equation modeling (PLS-SEM): A useful tool for family business researchers. Journal of Family Business Strategy, 5(1), 105–115. https://doi.org/10.1016/j.jfbs.2014.01.002
Schreck, C., Weilbach, T., & Reitsma, G. (2022). AN EXPERIENTIAL LEARNING-TEACHING MODEL IN RECREATION STUDIES: REFLECTIONS ON IMPLEMENTATION. South African Journal for Research in Sport, Physical Education and Recreation, 1, 41–57. https://doi.org/10.10520/EJC-SPORT_V44_N1_A4
Sharma, S., Charity, I., Robson, A., & Lillystone, S. (2018). How do students conceptualise a “real world” learning environment: An empirical study of a financial trading room? International Journal of Management Education, 16(3), 541–557. https://doi.org/10.1016/j.ijme.2017.09.001
Thuketana, N. . (2020). Mutual benefits of an experiential learning community project in South Africa : perceptual skills development and learning support | Enhanced Reader.
Tiwari, S. R., Nafees, L., & Krishnan, O. (2014). Simulation as a pedagogical tool: Measurement of impact on perceived effective learning. International Journal of Management Education, 12(3), 260–270. https://doi.org/10.1016/j.ijme.2014.06.006
Uppor, W., Klunklin, A., Viseskul, N., & Skulphan, S. (2024). Effects of Experiential Learning Simulation-Based Learning Program on Clinical Judgment Among Obstetric Nursing Students. CLINICAL SIMULATION IN NURSING, 92. https://doi.org/10.1016/j.ecns.2024.101553
Downloads
Published
Versions
- 2025-12-30 (2)
- 2025-11-08 (1)
Issue
Section
License
Copyright (c) 2025 Lawrance Seseni, Dr Musi, Mary-Ann (Author)
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Creative Commons Attribution 4.0 International license (CC BY 4.0)
