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ERIC Number: EJ1011781
Record Type: Journal
Publication Date: 2013
Pages: 13
Abstractor: As Provided
Reference Count: 18
ISSN: ISSN-0022-0485
Instituting a Monetary Economy in a Semester-Long Macroeconomics Course
Valcarcel, Victor J.
Journal of Economic Education, v44 n2 p129-141 2013
The author provides a general model to incentivize student involvement in an economics course on an ongoing basis. Rather than presenting students with a discrete number of diverse experiments to illustrate different economic concepts, he opts for the adoption of a single experiment that lives for the duration of the semester. This approach provides the flexibility to illustrate a substantial number of concepts while forgoing some of the more in-depth analysis typically afforded by more traditional one-day experiments. By instituting an experimental unit of currency that takes on value throughout the semester, many concepts related, but not exclusive, to income, redistribution, intertemporal substitution, and banking can be reinforced with minimal loss of lecture time due to setup and rule exposition. (Contains 1 table and 10 notes.)
Routledge. Available from: Taylor & Francis, Ltd. 325 Chestnut Street Suite 800, Philadelphia, PA 19106. Tel: 800-354-1420; Fax: 215-625-2940; Web site:
Publication Type: Journal Articles; Reports - Descriptive
Education Level: Higher Education; Postsecondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A