Students studying a third-year e-commerce subject experienced face-to-face and online discussions as an important part of their learning experience. The quality of the students' experiences of learning through those discussions is investigated in this study. This study uses qualitative approaches to investigate the variation in the students' understanding of what they were learning through discussions, and how they went about engaging in them. Quantitative analyses are used to investigate how the students' experience related to their performance. Key outcomes of the study include that the quality of the students' experience of learning through discussions is positively related to their performance and that face-to-face and online discussions have qualitatively different benefits for learning.