GOOD PRACTICES OF FACULTYSPRING 2024 Vol. 18

GLOBAL PERSPECTIVESIN FINANCE EDUCATIONBRIDGING CULTURES AND CHALLENGING MYTHS

Could you please introduce yourself and the courses you teach?
Professor: I’m Munim Kumar Barai.
Originally from Bangladesh, I completed
my tertiary education in India. Before
coming to Japan, I worked at two
universities for more than 12 years in
Bangladesh. In 2010, I began teaching at
APU. Before that, I was a Fulbright Scholar
in the USA and an Asian Scholarship Fellow
in Vietnam. At APU, I teach major financecourses including Finance, International
Finance, Financial Markets and Institutions,and Investment and Securities Analysis, aswell as courses at the master’s level.

Professor Munim Kumar BaraiAPU Professor since 2010
What is your favorite menu itemat the APU cafeteria?
Professor: I don’t visit the cafeteria that
regularly, but when I do, I usually havechicken, fried eggplant, miso soup,
sometimes salad, and of course, rice.

Q TEAM - ALRCS

Part I:
Personal
Background1

What is a common myth about yourfield, finance, that you would love to
debunk?
Professor: There are many myths about thefinance field, but I would like to address two inparticular. One is the belief that to excel infinance, one must have strong math skills. Whilemath can be beneficial, it’s not a prerequisite.
Regular practice, attentiveness, and athorough understanding of the concepts beingtaught are more important. The notion that
finance is only for those who are good at mathis a myth that needs debunking.

The second myth pertains to finance as acareer. There’s a misconception that careers inthis field will be dull and mechanical, with longhours and no excitement. However, I disagreewith this perception. Finance is not only about
numbers; it’s about understanding humanbehavior, particularly investment behavior. It’s adynamic field that constantly evolves withtechnological advancements. Each day brings
new challenges and opportunities, making it far
from boring. If you’re someone who enjoys
staying updated with technology and thrives ina dynamic environment, finance can be anincredibly fulfilling career. So this myth also
needs to be dispelled.

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Professor Barai Facts:
Professor Munim Kumar
Barai is an accomplishedauthor with numerous
publications focusing on
finance, economic policy,
and poverty reduction.
He is a member of various
international academic
associations, including theFulbright Alumni Associationof Bangladesh.

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Part II: Professional Challenges
What teaching methods or
strategies do you find effectivein engaging students andfacilitating their learning inmanagement-related courses?
Professor: It’s becoming increasingly
challenging
tocapturestudents’attention in the classroom, especiallywith the prevalence of short-form
content like TikTok. Attention spans areshrinking, and students are accustomed
to quick, bite-sized content. To address
this challenge, I employ various strategies

to keep students engaged. Firstly, I
actively involve them in discussions by
asking questions and encouraging themto share their opinions. This fosters a senseof participation and ownership of theirlearning.
Additionally, I incorporate
practical exercises and case studies into
the classroom sessions to reinforce
theoretical concepts and enhance
understanding. Furthermore, I utilize
quizzes, assignments, and exams toencourage regular participation andassessment. While not all students may
enjoy these assessments, they serve as
effective tools for gauging understanding
and motivating engagement.

Professor Barai’s Investment and Security Analysis ClassQ TEAM - ALRCS

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So, what are some of the biggest
challenges you have faced as aprofessor at APU? And what aresome ways you have addressedand overcome them?
Professor: That’s a good question. When I
first came to APU, I brought with me
different cultural perspectives, having
spent time in various parts of the world. In
recent years, I’ve observed an increasing
trend towards the expectation that
education
shouldbeeasy
andimmediately attainable. This expectation
challenged my own background which
instilled in me a sense of seriousness anddedication when it comes to education. I
found that students were increasingly
becoming more focused on grades andcovering lessons, which was different fromwhat I was used to. In addition, I also had
to navigate the varied needs andexpectations of students from different
cultural backgrounds.
Initially this situation was challenging, but
over time, I learned to adjust to andunderstand the psychology of the students
better. While I may not always meet
students’ expectations entirely, I havefound ways to manage the situation more
effectively by developing strategies toengage students while creating a
conducive learning environment thatmaintains academic rigor.

.under.I learstnaednd ttoheadjpsuyscholt to oandgyof the students better.

Q TEAM - ALRCSQ Team on the interview day

Have you ever incorporated
any teaching techniques thatyou have learned from yourfellow professors?
Professor: We all have our strengths andweaknesses, and by learning from eachother, we can improve our teachingpractices. Learning is something thatchanges your behavior. If the knowledge
or techniques we acquire don’t influence
our behavior positively, then perhaps it’s
not true learning. I’ve been fortunate toparticipate in programs like theMinnesota Faculty Development (FD)
Program at APU, conducted in collabor-

4-ation with the University of Minnesota.
This program provides educators withvaluable insights from other APU
professors and techniques for effective
teaching from an Education Program
Specialist from the University of
Minnesota. Before this program, I had
already been trying to implement
various teaching strategies in myclasses. However, this formal programprovidedmewithstructured
approaches and reinforced theimportance of certain techniques.
Education is all about continuous
improvement and adapting to best
serve the needs of our students.

How do you include group
work in your class?
Professor: I use group work differently
depending on the course content. In
fundamental
financecourses,Iemphasize individual learning, as I
believe each student should first strive
to grasp the concepts independently.
While group work may aid in problemsolving, it is not always necessary inbasic finance.

In the case of specialized courses, groupassignments provide students with otherperspectives
andencourages
theformation of opinions on economic
situations by facilitating critical thinking
through discussion.

How do you feel about students
using AI technology for learningin your courses?
Professor: If it is for learning purposes, wehave to accept the technology. We justcannot deny its existence. AI is rapidly
advancing, and while I’m unsure of its fullpotential, I recognize its growing influence.
AI can certainly aid in understanding
complex concepts and provide valuableassistance in learning. However, there’s afine line between using AI as a tool forlearning and relying on it to the extent thatit replaces critical thinking and problemsolving skills. For example, in the UnitedStates, many students may excel inspeaking English, but struggle withtechnical writing and communication skills.
If AI becomes too relied on for tasks likewriting, it could lead to a generation thatlacks fundamental skills in certain areas.

However, in more specialized courses
like Financial Markets and Institutions,
Investment and Securities Analysis, orInternational Finance, I adopt a
different approach. I assess thechanging global context and identify
relevant topics, such as the impact of
events like the Russia-Ukraine War on
financial markets and investment
environments worldwide. Based on the
topics, I organize students into groups
and assign collaborative assignments.

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I noticed that you wrote abook in 2017 entitled Towards
a Common Future:
Understanding Growth,
Sustainability in the AsiaPacific Region. Have there
been any changes in yourperspective or in the financefield since then? As a result,
have there been any changes
in your teaching methods
corresponding to changes inyour perspective?
Professor: Thank you for asking about
the book. Towards a Common Future
discusses the future prospects of Asian
countries and their emerging economic
significance on the global stage. Whenthe book was written, there werealready indications that Asia was
becoming the economic center ofgravity in the world. The concept of acommon future for Asian countries wasa central theme in the book’s
perspective.

Part III:
Personal Insights& Approaches
In my teaching, I similarly often incorporate
current events to illustrate economic
principles, particularly in the context ofinternational finance. For instance, when
discussing the current Russia-Ukraine War
and its impact on global finance, I
highlight the shifting dynamics ofinvestment flows. Europe’s relative decline
in investment contrasted with Asia’s growth
further reinforces the idea of Asia’s
increasing economic importance.

Since then, if we look at thedevelopments in Asia, that perspective
has been further validated. Asia's
economic prominence has continued togrow, and within the span of seven toeight years, this growth has become
even more evident. I am now more
confident in asserting that Asia indeed
has a common future. However, thegrowing economic influence of Asia
suggests that the book may need
updating to reflect these developments
accurately.

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How do you use your work
experience as an Economic andPolitical Advisor with the CanadianHigh Commission in your class?

Embassy of Canada

Professor: This work experience provided mewith a unique perspective. Working with
diplomats requires careful consideration ofwording and discretion whereas the classroom
environment allows for more freedom of
expression. Diplomatic work also emphasizes
negotiation skills, which are invaluable invarious aspects of life. One crucial lesson I
learned was the importance of setting clear
boundaries during negotiations. For instance,
when discussing a business transaction, it’s
essential to establish both a minimum andmaximum price for the negotiation process tooccur within a range, whereas if the negotiator
approaches with fixed prices, there’s little
room for negotiation. While I don’t always
incorporate such lessons into my classes, I canconvey to my students the significance of such
perspectives in personal and professional
interactions.

How do you encourage students who have participated in yourclass to apply classroom theories, such as time value of money toreal-world scenarios?
Professor: You cannot plan your past or
the present. We can only plan our
future. Time value of money issomething I think everyone should learnbecause human beings need to planfor their futures. In planning for the
future, financial planning, basically, weneed to plan for a pension, saving,
retirement, and family management. If
you start saving something, you need toconsiderits
futurevalue.
This
knowledge is derived from the timevalue of money. Projecting will not be

Q TEAM - ALRCS

100% correct, but it can provide an idea of
how much to invest and how much to save
to invest. This kind of planning improves
quality of life, so everyone should strive tograsp these concepts early. Understanding
the time value of money not only helps in
making informed financial decisions but
also empowers individuals to manage theirresources more effectively. Through such
explanations of how certain theories
direclty affect our lives, I encourage
students to make real-life connections.

7

May you share an example ofyour favorite or a successful
teaching activity or lesson
that you have used in yourclass?
Professor: Certainly. One teachingactivity that I find particularly effective
is using real-life examples to illustratecomplex concepts. For instance, when
discussing the time value of money, afundamental concept in finance, I often
share the story of Manhattan’s sale to
the Netherlands in 1626. Manhattan
was purchased by the Dutch for a mere
$24, equivalent to 60 ounces of gold at
the time. At first glance, this amount
may seem insignificant, but when we
calculate its present value using
compounding methods, students areoften surprised by the substantial
difference.

By demonstrating how the value ofmoney changes over time with a real-life
example, students can witness how
considering the time value of money infinancial decision-making is important.
This real-life example not only captures
their attention, but facilitates theircomprehension of the concept. Whether
it's in mathematics, politics, or economics
courses, I believe that real-life examples
make learning more engaging andrelevant.

Part IV: Conclusion
What do you expect from thestudents who take yourcourses? What advice do you
want to give to students whoare interested in pursuing thefinance field?
Professor: Well, I come from a society
where the bond between teacher andstudent is akin to a parental
relationship. Teachers are often
refered to as “gurus”, regarded for

Q TEAM - ALRCS

their possession of knowledge andalways desiring the best for their students.
Similarly, I want my students to excel.
Though I may caution students that theirclassroom behavior impacts their grades,
in reality, I base grading on theiracademic performance. Like mostteachers, my expectations can be simply
summarized as: study diligently, engage
with the course material, and strive forexcellence.

8Thank you so much. And now
we are coming to the last
question of the interview
today. What do you find themost rewarding aboutteaching and mentoring
students?

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,
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Professor: The most rewarding aspect isrooted in my cultural approach toeducation, in which the teacher-student
relationship is viewed as lifelong anddeeply meaningful. Teachers, in particular,
are entrusted with the welfare of theirstudents, and this guiding principle shapes
my approach to teaching and mentoring.
While my perspective may differ from theprevailing notion of "learning with fun,"which has gained prominence in recent
years, I firmly believe that education is aserious endeavor aimed at enlightenmentand societal contribution. Witnessing mystudents succeed and positively impact
their communities brings me immense
satisfaction and reinforces my conviction in
the transformative power of education.

At APU, there are many professors who put
together wonderful classes, and if we could
get to know how these classes are planned,
it would contribute to the improvement ofother professors’ classes. For that purpose,
we have begun doing interviews in order tolearn about class planning. These articles
have been entitled [Q], comprising avariety of meanings such as: increasing the[Q]uality of classes, answering [Q]uestions
to increase quality, and forming a [Q]ueue,
or line, of class improvements. We would bevery happy if these articles could contributeto the [Q]uest of APU professors’ classquality improvement.

Q TEAM - ALRCS

What is9INTERVIEWERS’ IMPRESSIONS
Name: Kando Miu
College: APM
Country: Japan
Impression: Through this interview, I was impressed byProfessor Barai's sincere approach to his students andhis continuous efforts to improve his classes. While
respecting the improvement and success of his
students, Professor Barai puts daily effort into creating
an environment that is conducive to learning. In
particular, he incorporates case studies and current
affairs into his classes, which has led to improved
student understanding of classcontent and motivation
to learn. I think it's wonderful that he is trying to create
a better learning environment while responding
appropriately to the needs of his students.

Interviewer & Author

Name: Nguyen Minh Tu
College: APSCountry: Vietnam
Impression: The interview with Professor Barai has lefta lasting impression on me. He emphasized thesignificance of incorporating real-world experiences
into classroom learning. Additionally, he also shared acaptivating story from a past business trip to Vietnam,
my home country! He spoke with such fondness about
his time in Vietnam that it inspired me to delve deeper
into the diverse opportunities offered by APU'sinternational community. His passion for learning has
reignited my own, motivating me to strive forexcellence in my studies.

Q TEAM - ALRCSInterviewer & Translator

Name: Aung Si Thu Oo
College: APM
Country: Myanmar
Impression: Interviewing Professor Munim Kumar Barai
was an enlightening experience. His global
perspective, drawn from diverse educational andprofessional backgrounds, profoundly enriched ourconversation. Professor Barai's innovative teaching
methods and his ability to adapt to the needs of aculturally diverse student body stood out to me. His
insights into the practical applications of financetheories and the importance of negotiation skills wereboth insightful and inspiring.
Overall, I left the interview with a deep appreciation
for Professor Barai's dedication to education and his
commitment to fostering a meaningful teacher-student
relationship. His approach to teaching finance not
only imparts knowledge but also instills a sense of
curiosity and enthusiasm in his students.

Interviewer & Designer

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