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Expanding the World Through Finance

November 16th, 2018

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Steve Casper spent the spring of 2018 teaching his students about stocks, bonds, time value of money, cash flow and cost of capital. This does not sound unusual for a finance professor, except that particular semester he was on sabbatical in Cambodia.

Most of his students, who came from rural farms on the outskirts of Phnom Penh, Cambodia’s capital, had a limited academic background in finance. Many did not have a personal relationship with traditional financial institutions that Americans accept as commonplace, like banks and stock markets. Casper, associate professor of finance and managing director of the DBA program at the Fox School of Business, says, “It was the most challenging class I’ve ever taught, but it was so much fun.”

Since the summer of 2016, Casper had been volunteering his time teaching rural students in Cambodia. After first getting involved via Habitat for Humanity, Casper has built a relationship with these students, teaching finance and leadership during two-week seminars. Last spring, the director of the Paññāsāstra University of Cambodia, the leading English-speaking university in the country, asked Casper to teach a full semester.

“Most of these students have never had a calculator before,” says Casper, FOX PhD ’10. “I was told I had 30 students. I get over there and I brought 30 TI-BA II+ financial calculators. My wife was coming two weeks later and I said, ‘Liz, I have 54 students. I need you to bring another 24 calculators, I just ordered them on Amazon.’ Eventually, it got up to 94 students.”

This past October, four of these students came to Philadelphia for a week of leadership and business practice. The trip was organized by the Cambodian Rural Student Trust, an NGO founded in 2011 that aims to help bright Khmer, or Cambodian, students from poor, rural families go to high school and university in Cambodia.

Casper brought the students to meet with representatives from all over the financial world, from companies like SAP, B-Lab and Saul Ewing. He invited the students to speak to his finance classes at the Fox School. The Khmer students shared the story of their lives, which often included uneducated family members, the loss of one or both parents and financial hardships. But each had a strong, unrelenting belief in the power of education to transform lives.

Khmer students Doeb Chhay, Sinoun Lem, Sompeas Sokh, and Yeat Son.

One student named Sompeas, who is majoring in law and hopes one day to become a lawyer, shares her philosophy. “I believe men and women are equal. I believe education will provide women with the knowledge to believe this and give them the skills to follow their dreams, have amazing careers and be greater contributors to society.” She continues, “The special thing about this trip is that I can share my voice and bring back many ideas that will inspire other girls to be adventurous and ambitious, while also expanding how I see things in my small world.”

Casper is grateful to the Fox School for allowing him to expand his world as well through his sabbatical. Casper loves the opportunity to teach both his American and Khmer students. “I always wanted to do this,” he says. “To have great classes, you have to be thinking about it all the time—how can I make it better, how can I get this point across?”

His passion for education translates into his enthusiasm about the mission of the Cambodia Rural Students Trust. The completely student-run organization, Casper says, “can give a student a place to live, feed them, and pay for their college or high school,” all for $2,000 a year.

“In Cambodia, education is a privilege,” says Casper. “I am honored to be part of something that empowers students to lead themselves and lead society.”

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