Despite recent clarifications by central banks that it is indeed "commercial banks" that are the main creators of the money supply, money creation processes remain as confusing and opaque as ever to many. This article develops a simplified macro-visual diagram of today's money system based on the increasingly accepted "credit…

The author of this article demonstrates how the unified approach to answering economic questions employed in modern quantitative macroeconomics research can be taught to undergraduate students using the Solow model. Through an application to post-WWII Japan, students get hands-on experience with (1) documenting empirical facts, (2) developing a…

Misconceptions hinder optimal student learning. They need to be addressed explicitly and formally to achieve effective teaching of economics. The author of this article outlines an activity that is designed to address misconceptions about "others" using a backward course design framework. Fink's significant learning categories,…

This essay presents the creation process for an online honors course in the field of business. Highlighting engagement, critical thinking, and inclusivity as central themes, the author describes the course's inception, structure, outcomes, and post-teaching reflection. The pedagogical framework includes integrative current event assignments and…

Flipped classroom has been found to positively influence student achievement but the magnitude of the effect varies greatly according to discipline and local design, and few studies have been methodologically rigorous enough to establish causal evidence. Using a randomized controlled trial, this study addresses a gap in current knowledge by…

I present a framework to teach the macroeconomic effects of COVID-19 using the Keynesian Cross. I show that the rest of the economy suffers from a decline in demand once one sector of the economy is shut down and that the government spending and tax multipliers are smaller than usual. Fully insuring workers in the sector that is shut down cannot…

The author of this article discusses a cooperative learning exercise designed for introductory macroeconomics that was completed by 44 groups of three or four students during the spring 2021, fall 2021, and spring 2022 semesters at a private U.S. liberal arts college. The exercise aims to foster an active learning community where students…

This article presents an experience of teaching innovation based on the application of active methodologies in economics and business education at the University of the Basque Country (UPV/EHU). The proposal builds on a competency teaching approach, whose objectives were to verify the effectiveness of these methodologies in the area of economics…

Context: The rich contextualization of educational processes brought about in the pioneering work of Jean Anyon pushed scientists to acknowledge that the education being provided to the least advantaged was shaped by factors with origins beyond school and family environments. Political economic work in education has subsequently argued that an…

The 3-equation model by Carlin and Soskice (2014) introduces the current consensus in modern monetary macroeconomics to undergraduates through a static framework in which adjustment occurs via the monetary policy rule of an inflation-targeting central bank. In this article, the authors present a dynamic extension of this model and an Excel-based…

Having literacies in economics and financial will be beneficial to enhancing individual and family well-being. The purpose of this research aims to produce an e-book on economic literacy. To achieve the purpose, this study adopted a research and development method. Media is developed through student analysis, state objectives, determine goals,…

The author of this article describes a new undergraduate course where students use Python programming for macroeconomic data analysis and modeling. Students develop basic familiarity with dynamic optimization and simulating linear dynamic models, basic stochastic processes, real business cycle models, and New Keynesian business cycle models.…

This paper provides details on a classroom experiment that focuses on returns to foreign assets given uncertain future exchange rates. Students are assigned the role of foreign analysts and decide how much to invest abroad given their expectations about future exchange rates. The experiment allows students to practice calculating the returns to…

The use of online courses has expanded dramatically at institutions of higher education over the last several decades. Appropriate design of an online course is instrumental in determining the quality of the student experience and the amount of material students retain from the class. However, the instructor has a tremendous amount of freedom when…

In this article, the authors illustrate the use of Bloomberg for analyzing topics in macroeconomics and monetary policy in economics and finance courses. The hands-on experience that students gain from such a course has many benefits, including deeper learning and clearer understanding of data. The authors describe goals and learning objectives,…