Semi-strong university: a leader in the efficient learning hypothesis

Citation

Ravenscroft, S. (2020), "Semi-strong university: a leader in the efficient learning hypothesis", Accounting, Auditing & Accountability Journal, Vol. 33 No. 1, pp. 283-283. https://doi.org/10.1108/AAAJ-01-2020-066

Here at semi-strong university we have mastered the art of the “efficient learning hypothesis”. We understand its intricacies and have refined our technique through years of experience. We apply it most successfully!

The efficient learning hypothesis rests on the premise that our students, who have invested heavily in this program and are desirous of earning credit for their efforts, eagerly and assiduously absorb all publicly available information to arrive at knowledge-driven equilibrium solutions.

Examinations here at semi-strong are conducted continuously and student investors can participate at their convenience. We have saved substantially in administrative costs and in faculty time after switching to the efficient learning hypothesis. While we know there is in some sense a “right” answer, we no longer are obliged to grade papers in the same manner we used in the past. Now we simply enter students’ responses in a spreadsheet and find the number that more people agree on and that is by definition the most acceptable and obviously correct solution.

You might wonder about cheating. That is an old-school concept that has no place here. If people agree on the answer that is the answer. Besides, each student has a different grading or utility scale assigned to them and those scales change in unpredictable ways and at unpredictable times. Thus, students cannot presume to know each other’s utility scale.

We save on material costs as well. In the past, we used bubble sheets for multiple-choice tests, but a leading efficient learning hypothesis scholar named Eugene Fama explained that bubbles do not exist, so now we use plain paper and open-ended problems, which is less expensive. A TA then enters responses on a spreadsheet. As an added revenue stream, we sell the completed spreadsheets to historical researchers who scan them for observable patterns. Because scholars like to contemplate and discuss, you often see them outside on the quad walking around rather randomly. Sometimes they organize picnics and have games, such as information anomaly hunts.

Overall, our student investors are very satisfied. Everyone graduates, though the length of his or her learning program can differ, as does the cost, of course. Very importantly, faculty are not exerting undue influence over students, as our lectures are only a small part of the publicly available information we presume our students rely on when taking exams. Thus, both efficiency and learning are maximized!