I recently attended a graduate finance lecture where the teacher announced he would provide a formula sheet in the exam. A sigh rose from the 200 silent students. Does this dynamic, I wondered, build capabilities required to prevent the next recession?
Despite transformation of many other academic frontiers much assessment is still done as it was a century ago. Widely practiced but researched occasionally, improvement in this field seems difficult. Yet, more than ever, I see assessment as needing substantial reform, and that making progress on this front is instrumental for advancing education overall.