Part of learning at a university is the art of playing pretend, or learning in a simulated setting. For business students at IU Southeast, the Sander’s Financial Markets Lab, which opened in June, will provide just such an
opportunity.
The opening of the lab was celebrated with a ceremonial ringing of a bell to mimic the New York Stock Exchange.
Chancellor Sandra Patterson-Randles said they were trying to connect the real world, which is Wall Street, with what is going on in the classroom.
“The whole thing was symbolic,” Patterson-Randles said.
The whole lab smells and looks new — from the fresh carpeting and wallpaper with the IUS logo on it, to the computers and LED flat-screen TVs.
Students who use the lab have access to the newest financial software on the computer stations in the room, as well as stock-tickers and an electronic banner that wraps around the room and lists the most recent stock information.
A pretty penny was spent on all the equipment, and it all came from Judge Carlton and Sue Sanders.
The Sanders are both IUS School of Business alumni and have contributed to the growth of IU Southeast during the years.
“They’ve had an awful lot of influence,” Patterson-Randles said.
Through their grants, IU Southeast formed the Sander’s Chair of Business, which is the first professor chair on campus, a position held by Uric Dufrene, professor of business.
In this position, Dufrene has worked to compile economic information about Southern Indiana to serve the local community — a project that is fairly unique since most economic area studies are focused in Louisville.
Dufrene offers this information to local businesses to serve economic growth in the area.
A more recent donation of half a million dollars has gone toward the Financial Markets Lab and also toward developing the Sanders Speaker Series, bringing in high-profile speakers to address the student body.
Alan White, dean of the School of Business, said the lab is beneficial to the campus and the community of Southern Indiana, as well.
“I think this lab has multiple touch-points as far as University stakeholders go,” White said. “First of all, I think it will be a great learning environment.”
The lab is set up with tables of computers in an “X”-shape, which White said is a great layout to enhance the overall teaching environment and serve group work and applied learning.
Computer monitors are designed to easily rotate out of the way so students can address each other in simulations or group exercises.
White listed four other points the lab provides for the university.
First, the lab would be an asset in recruiting students because parents and students would see the university is committed to providing tools for learning, White said.
White also said the lab is a good way to reach out to local businesses by offering them a place and tools to train their employees.
“I’ve already had some firms contact me about using this lab as a training room,” White said.
The lab can also be an encouragement to donors by providing them with an example of what can be done on campus if they are willing to sponsor a similar project for the School of Business or any other department.
Finally, White said the lab would be a beneficial point in alumni relations.
Currently, there are two classes being taught in the lab, one for graduate students and one for undergraduate students.
David Eplion, assistant professor of business, is using the lab in his Organizational Behavior and Leadership class, a graduate-level course.
Eplion said the lab is useful for student presentations. He also said the lab’s professional setting lends to a higher level of discussion during class time.
“It’s really nice to have state-of-the-art equipment to support a nationally ranked program,” Eplion said.
In 2009, Business Week ranked IU Southeast’s Business MBA program as the ninth best part-time MBA program in the nation and third best in the Midwest.
White said the lab’s schedule would not be filled with classes in future semesters either.
The room will be closed when unattended to help prevent theft or vandalism to the equipment in the room.
“This room is the first of its kind in Greater Louisville,” White said. “It’s not the first of its kind in Indiana, but I think it’s the best of its kind.”
By MICHELE HOP
Staff
mhop@ius.edu
