Portfolio assessment may be the key to deeper learning

Traditional assessments, like exams, often emphasise memorisation and short-term performance over critical thinking, reflection and application, which are essential for fostering deep and meaningful learning. The pandemic provided us with an opportunity to rethink teaching, and portfolio assessment emerged as an effective way of embedding the skills and motivation students will need in the workplace of the future.

The portfolio approach marks a departure from conventional exams, focusing instead on a formative, reflective and personalised assessment method. Students are tasked with creating portfolios that document their learning journeys, showcasing their ability to analyse, link and apply economic theories and tools to real-life scenarios. This method evaluates not only what students have learned but also how they have learned it, providing a window into their cognitive processes and fostering a metacognitive examination of their own learning.

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• How to embed critical thinking from course design to assessment

The portfolio approach leads to a deeper and more integrated understanding of economics, according to research. Students reported a greater ability to express complex ideas, increased motivation to apply concepts to real-world situations and enhanced reflective learning skills. These results align with the paradigm shift in educational assessment, emphasising the development of critical thinking, problem-solving and communication skills.

What is a portfolio?

As part of our economics course, students are required to create digital portfolios that include: summaries and analyses of course topics, exercises and assignments, group project presentations, articles and discussions, screenshots of academic interactions and reflections on their own learning.

What are the key benefits of the portfolio?

• Deep learning: Students exhibited a greater ability to explain complex concepts, reflecting a deep understanding of the material. This technique enabled them to critically analyse it, connect different ideas, concatenate and apply them to real-life situations. 
• Motivation to learn: By engaging in tasks that connected theoretical knowledge with real-life situations, they developed a renewed interest in their studies. This approach allowed them to achieve a deep understanding of contemporary issues, seeing the direct relevance of their learning in their environment and future careers.
• Metacognition: The portfolio served as a metacognitive tool, helping students become aware of their own learning processes. Through reflection on their achievements and areas for improvement, students were able to develop self-assessment and self-regulation skills, which are fundamental for autonomous and continuous learning.
• Effective communication: They learned to present their main ideas clearly and in an organised manner, using data and graphics to support their arguments. This skill is highly valued not only in the academic context, but also as a preparation for their future professional roles.

What do teachers gain?

More than 380 students have used portfolio for six semesters. It has adapted to different business careers, environments, activities and tools such as artificial intelligence (AI). During these experiences, portfolio has also been an opportunity for the teachers to:

• Gauge the adequacy of the work students have to do to make a valuable contribution to the portfolios
• Focus on selected content and shift the dynamic toward more discussions and role-play tasks. Professors can then engage their students more deeply and facilitate meaningful conversations, providing opinions or resolutions
• Reduce the chances of plagiarism by including tasks that need personal input from the students.
• Take in continuous feedback from students. This can be used as a valuable source of ideas to think about teaching tools and strategies, such as interactive questions or exercises designed by them, new applications or technological innovations, cases and activities. 
• Discover new topics of interest among students as they link their work with real-life issues or experiences, usually those that draw their attention.

How to structure a portfolio assessment

To implement portfolio assessment effectively and make sure that students are equipped with the skills to build on their experiences, it’s important to plan carefully. Here’s how:

• Define clear objectives from the beginning
• Create a well-defined structure to guide students
• Communicate the process to students assertively and regularly
• Include diverse types of evidence such as written reflections, project reports, multimedia presentations, peer feedback and skill demonstrations, to showcase students’ learning and achievements
• Select tasks that require students to connect course content to real-world scenarios, such as analysing case studies, creating business plans, writing reflection essays, conducting professional interviews, participating in simulations, observing field practices or role-playing
• Incorporate reflective tasks into the portfolio
• Develop an evaluation rubric
• Facilitate feedback based on the defence of the evidences.

The portfolio assessment approach has proved to be a comprehensive and revolutionary tool when teaching economics to undergraduate students. By shifting the focus from traditional exams to a more holistic and reflective method, this strategy not only enhances students’ understanding of complex economic concepts but also equips them with essential skills, motivation and metacognitive awareness. The positive feedback from both students and teachers underscores its effectiveness in fostering deep learning, critical thinking and active participation. 

The implications of this experience extend beyond the classroom, suggesting a re-evaluation of assessment practices across other disciplines. By fostering a learning environment where students are active participants in their educational process, the portfolio method enables them to develop essential competencies to face the challenges of the global business environment of the 21st century.