A heuristic approach to explaining of the Black-Scholes option pricing model in undergraduate classes is described. The approach draws upon the method of protocol analysis to encourage students to "think aloud" so that their mental models can be surfaced. It also relies upon extensive visualizations to communicate relationships that are…

Background: This study was originally prepared for the African Inter-Ministerial Conference on Literacy (September 2007) with the objective of analysing the costs of successful adult literacy programmes run both by government ministries, as well as international and national non-governmental organisations. Objectives: This study aims to increase…