HYBRID VERSUS HYFLEX INSTRUCTION IN AN INTRODUCTORY FINANCE COURSE

Pablo Calafiore
Texas A&M University – San Antonio

Emiliano Giudici
Stephen F. Austin State University

ABSTRACT

This study compared class performance of non-traditional students enrolled in two
relatively large undergraduate introductory finance courses. Classes were similar in content
except that one was hybrid (blended) while the other was hyflex. In hyflex instruction, students
choose among three alternatives: attend class in a traditional face-to-face lecture format, watch
the class via live streaming, or watch the recorded lecture later. Recordings were made available
to all students. Class performance, as measured by final overall grade, was similar for both
sections. Results suggest that the convenience and flexibility offered by hyflex courses, highly
valued by non-traditional students, do not seem to provide an advantage to learning outcomes
compared to a hybrid course. These findings are particularly relevant to the transformative
changes that impacted higher education following the 2020 pandemic.
Keywords: Hybrid (blended); hyflex; finance instruction; undergraduate, non-traditional students