The Faculty of Economics at Kardan University launched the ''Business Simulations'' program for its students on January 04, 2020. Around 45 students of the International Business course from the BBA Department attended the introductory session on business simulations which was presented by Mr. Abdul Khaliq Khan Shinwari. The Faculty of Economics plans to expand the use of simulations to all three departments (MBA, BBA & BSc. Economics) for the Spring semester 2020.
Business simulations allow students and instructors to interact in a real-life-like environment and discuss business situations and concepts. Further, by making various decisions for their simulated firms, students are tasked with transferring learned knowledge from class into a relevant and new scenario which, according to researchers, is a requirement for engaging and memorable learning.
Research also recognizes that simulations resonate on both cognitive and emotional levels. Students gain the ability to apply learned theory in action, validating that what they studied is relevant and applicable in the real world. At the same time, they develop communication and analytic skills which will be relevant to their future careers. On the other side of the spectrum, facilitators often feel that they made a positive difference to students’ learning, which is both relevant and required in today’s business world.