Setting up a Jigsaw Learning Exercise

Introduction

In a page I created earlier today, I included a paragraph on Jigsaw Learning (see paragraph 8 of that page). In this post, I am setting out exactly how you might create such a learning experience for your students.

Subject: Implementing Jigsaw Learning for Financial Ratio Analysis

Dear [Lecturer's Name],

I hope this message finds you well. I am writing to provide you with a detailed guide on how to implement a jigsaw learning assignment for your accounting students, using the topic of financial ratio analysis. Jigsaw learning is an effective teaching strategy that encourages collaboration, active engagement and knowledge sharing among students. By following the steps outlined below, you will be able to design a successful jigsaw learning activity:

1. Divide the topic: Begin by breaking down the topic of financial ratio analysis into smaller, manageable subtopics. For example, you could divide the subject into the following categories: a. Liquidity Ratios b. Solvency Ratios c. Profitability Ratios d. Efficiency Ratios e. Market Valuation Ratios

2. Create expert groups: Form groups of students, ideally with four to six members per group and assign each group a specific subtopic. These groups will be responsible for becoming "experts" in their assigned area of financial ratio analysis.

3. Provide resources: Supply each expert group with relevant resources, such as textbook chapters, articles or case studies, to help them research and gain a comprehensive understanding of their assigned subtopic ... see below for example

4. Allocate time for research: Give the expert groups sufficient time to study and discuss their subtopic. Encourage them to work collaboratively and clarify any doubts they may have with each other or with you.

5. Form jigsaw groups: After the expert groups have acquired a thorough understanding of their subtopics, create new jigsaw groups consisting of one representative from each expert group. Each jigsaw group should have a member knowledgeable about each subtopic of financial ratio analysis.

6. Share expertise: Instruct the members of each jigsaw group to take turns teaching their peers about their assigned subtopic. Encourage students to ask questions, clarify concepts and engage in discussions to ensure a deep understanding of the entire financial ratio analysis topic.

7. Assess understanding: To evaluate the students' comprehension of the subject matter, administer a quiz or assign a project that requires the application of financial ratio analysis concepts. This will help you gauge the effectiveness of the jigsaw learning activity and identify areas where students may need further clarification or support.

8. Debrief and reflect: After completing the jigsaw learning assignment, facilitate a class discussion to reflect on the activity. Encourage students to share their experiences, discuss the challenges they faced and identify the benefits of collaborative learning.

By following these steps, you can successfully implement a jigsaw learning assignment on financial ratio analysis for your college level accounting students. This collaborative approach will not only deepen their understanding of the subject matter but also foster essential skills such as teamwork, communication and active listening.

Please feel free to contact me if you have any questions or require further guidance on implementing jigsaw learning in your classroom.

Best regards,

[Your Name]

Jigsaw Learning Example: Screenshots

I am currently working through an example that could be adapted to the jigsaw learning framework. I have created an Excel based resource for the Personal Care sector: that is, I have gathered the following for a total of 11 companies, all of which are named in the screenshots and for all of which there is downloadable, publicly available financial data.

I use the Financial Times as the source of my data, for which I pay an annual subscription.

That is the introductory worksheet in my Excel file. Here you can see

• the companies I chose
• the ratios I work with, set out by category
• some guidance on cleaning the raw data
• some guidance on using Power Query in this exercise

The above screenshot shows a small extract of the Peer Group ratio data that I have gathered: note, this is BEFORE I cleaned the data. Examples of how I cleaned the data follow:

You can explore the differences between these two screenshots to determine what I cleaned and how I cleaned it!

Power Query: as I started to prepare my data for Power Query, I created two Excel Tables, as you see below:

In Power Query, I needed to Merge or Append these two tables and deciding how and what to do in that respect is part of the exercise! Once I had done that, I unpivoted the data in Power Query and following on from there I created a Pivot Table in which I was able to carry out all of my investigations and analyses ... I do not show that here, however.

That's the unpivoted data, for Pfizer only ... remember there are ten other companies in my financial database for this exercise

That's my Pivot Table ... it can be improved although what it says is the truth!

Jigsaw Learning

Just getting to that stage, of having processed and presented the data is easy to set up as a jigsaw learning exercise

The final part, however, is to itemise the ratios by student/investigator and then carry on as I say in my explanations of how jigsaw learning works.

Duncan Williamson

2nd May 2023