Faced with operational complexities on par with those of a city, larger colleges and universities have long understood the value of taking a strategic approach to understanding and managing enterprise risks. Personnel dedicated to risk analysis and control at these institutions are tasked with taking a holistic view of the exposures, liabilities…

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…