Conclusion: Emerging insights on teaching finance in turbulent times

Abstract

This chapter presents the principal insights from the learning journey into the implications of the largest financial crisis in the last 90 years. Research and teaching have hitherto been based, to some extent, on questionable or wrong assumptions and frameworks. Beyond concepts on financial modeling, the underlying assumptions on human nature are in need of an overhaul. Homo economicus thinking characterized by the infinite ability to make rational decisions represents just one possible view which should guide research, teaching, and action in financial institutions.