Clarkson finance class 'beams' to Austria

POTSDAM — Time zones and language barriers didn't stop Clarkson University students from conferring with European counterparts this semester.

Clarkson teamed up with Upper Austria University of Applied Sciences' School of Management in Steyr, Austria, so finance students could discuss the international equity market. The two classes "met" over video teleconference four times this semester. They discussed current financial markets in the United States and Europe, and both classes made a prediction of where their market would be at the end of the year.

The two classes ran into problems with the language barrier on occasion. On the calls, everyone spoke English, but the Austrian students' native language is German.

"They don't understand what we're saying, or we don't understand what they're saying. We're all speaking English, but it's our mother tongue. We expected that," said Allan A. Zebedee, associate professor of economics and financial studies at Clarkson. "It's great that students can be exposed to it in a classroom, rather than in their first job."

The class taught students about the European and American financial markets, as well as how to deal with international conference calls in which some participants' first language is not English. Most conference calls in the business world are conducted in English, according to Mr. Zebedee, but comprehension does not always follow.

There were seven students in each class, discussing everything from financial bailouts to Cash for Clunkers to the ailing Greek economy.

"Despite our location, we want to make sure students are aware that the global market is much smaller. Whether it's jumping in an airplane or a conference call, that's how business is done," Mr. Zebedee said. "The more they can talk about these markets and the financial community, the better off they'll be."

This is the first semester Clarkson and the Steyr campus have partnered to offer a class, but they already are in discussions about expanding the program. Schools in Australia and Asia already are discussing joining. In that class, classes from all of the countries will teleconference together to discuss the world economy as one.

"The question is how many to let in and what time zones," Mr. Zebedee said.

Clarkson and Steyr devised the program together because there have been faculty exchanges between the two as well as student programs, with some Clarkson juniors going to Austria to study.