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Week 7: Banking and Finance Tuesday 8 th March

Mr. Niall Douglas. Week 7: Banking and Finance Tuesday 8 th March. Schedule for today. 9am-11am : Reading vocab and comprehension check 11.20-12pm: Statistical analysis 12pm-12.40pm : TOEIC prep 12.40pm-1pm: Explain tonight’s reading 1pm-1.20pm: Group Work Plan. Critical Thinking.

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Week 7: Banking and Finance Tuesday 8 th March

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  1. Mr. Niall Douglas Week 7: Banking and FinanceTuesday 8th March

  2. Schedule for today • 9am-11am: Reading vocab and comprehension check • 11.20-12pm: Statistical analysis • 12pm-12.40pm: TOEIC prep • 12.40pm-1pm: Explain tonight’s reading • 1pm-1.20pm: Group Work Plan

  3. Critical Thinking • If you remember from yesterday I told you that the Western Education System (and Business Schools) is very bad at teaching critical thinking • This is despite constant and consistent complaints from Business about the poor quality of fresh Business School graduates

  4. Critical Thinking • Well they are not the only ones with problems!!! • Engineering also has a BIG problem with the low quality of Engineering and Physics graduates • Such low quality engineers costs billions of euro a year in mistakes, as well as thousands of lives lost

  5. Critical Thinking • One very famous example is a failure in Critical Thinking within NASA • In 1986 the Space Shuttle Challenger exploded during take off • Why?

  6. Critical Thinking • It turns out that there was a failure of critical thinking in NASA regarding the safety of the launch • What happened was that an “O-ring” failed causing the rocket to explode • Here is the graph used within NASA to show O-ring failure history ...

  7. History of O-ring failure

  8. Stupid graph • I have filled in the data from the stupid graph into a much more useful format

  9. So there you go, lack of Critical Thinking skills blows up Space Shuttles • Six (Eight?) People died in the explosion ... Some actually survived the explosion but were killed when craft hit the sea at 200km/hr • Space Shuttles are also not cheap ...

  10. TOIEC prep • TOIEC prep

  11. Tonight’s reading • Explain Tonight’s reading

  12. Group Task Work Plans • Check Group Task Work Plans

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