Bridging the gap between theory and practice: The impact of industry-academia collaborative teaching in personal financial planning

Abstract

The complexity of Personal Financial Planning necessitates pedagogical approaches that transcend traditional textbook learning. This paper examines the efficacy of Collaborative Teaching (CT) specifically integrating industry experts into the academic curriculum to enhance the teaching and learning (PdP) of the FIN533 course among university students. Focusing on a strategic Service Learning Malaysia-University for Society (SULAM) initiative, a collaborative seminar titled "Simpanan di Lembaga Tabung Haji: Bilakah Masanya?" was conducted on June 15, 2026, featuring an industry expert panel from Lembaga Tabung Haji. Employing a mixed-methods action research design involving undergraduate students (BA2722B cohort), the study measured the pre- and post-intervention knowledge acquisition, practical engagement, and behavioral intent regarding Islamic wealth management and savings. Quantitative results indicated a significant 53% average increase in practical financial knowledge, while qualitative feedback highlighted enhanced cognitive scaffolding facilitated by real-world industry insights. This paper provides empirical evidence supporting industry-academia collaborations as a catalyst for experiential learning, significantly bridging the gap between theoretical financial constructs and practical, real-world application.