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Sniekers, Florian – Journal of Economic Education, 2023
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…
Descriptors: COVID-19, Pandemics, Economic Impact, Macroeconomics
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Giddings, Lisa; Lefebvre, Stephan – Journal of Economic Education, 2023
The authors of this article make a case for using Fink's (2013) taxonomy of significant learning in the economics classroom to improve standard-based economics education and to continue transforming the discipline to reduce social inequality along multiple dimensions, including gender, race, and class. Fink's framework is defined by student…
Descriptors: Minimum Wage, Economics, Economics Education, Taxonomy
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Davis, Leila E.; Gómez-Ramírez, Leopoldo – Journal of Economic Education, 2022
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…
Descriptors: Economics Education, Macroeconomics, Teaching Methods, Undergraduate Students
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Staples, Aaron J.; Sackett-Taylor, Hillary M.; Forgue, Jason; Brewer, Stephanie B.; Sarnikar, Supriya – Journal of Economic Education, 2020
Students of introductory economics are often able to predict changes in equilibrium price correctly on standardized assessments, but make consistent errors in predicting changes in equilibrium quantity. To examine the reasons for this pattern, the authors collected open-ended explanations written by students and categorized their reasoning using a…
Descriptors: Economics Education, Error Patterns, Logical Thinking, Supply and Demand
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Hong, Bei – Journal of Economic Education, 2020
In this article, the author describes a classroom experiment in which participants make decisions to achieve the lowest-cost production. Student volunteers acting as smartphone companies are provided with confidential information representing their own cost of production and are asked to make trade decisions to form a supply chain at the lowest…
Descriptors: Supply and Demand, Educational Games, Educational Experiments, Class Activities
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Ng, Chen Feng – Journal of Economic Education, 2019
In this article, the author describes the structure and content of a video game that she developed for a hybrid principles of microeconomics course that consists of two 50-minute lectures and a 50-minute online portion per week. The game comprises seven modules, each of which was assigned to be played during the course of the semester for the…
Descriptors: Microeconomics, Economics Education, Video Games, Instructional Materials
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Poutineau, Jean-Christophe; Vermandel, Gauthier – Journal of Economic Education, 2018
The authors provide a static two-country new Keynesian model to teach two related questions in international macroeconomics: the international transmission of unilateral monetary policy decisions and the gains coming from the coordination monetary rules. They concentrate on "normal times" and use a thoroughly graphical approach to…
Descriptors: International Cooperation, International Law, Financial Policy, Models
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Méndez-Carbajo, Diego; Asarta, Carlos J. – Journal of Economic Education, 2017
In this article, the authors discuss the use of Federal Reserve Economic Data (FRED) statistics to teach the concept of price elasticity of demand in an introduction to economics course. By using real data in its computation, they argue that instructors can create a value-adding context for illustrating and applying a foundational concept in…
Descriptors: Economics Education, Teaching Methods, Supply and Demand, Concept Teaching
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Cutler, David M. – Journal of Economic Education, 2017
Health care is one of the economy's biggest industries, so it is natural that the health care industry should play some role in the teaching of introductory economics. There are many ways that health care can appear in such a context: in the teaching of microeconomics, as a macroeconomic issue, to learn about social welfare, and even to learn how…
Descriptors: Health Care Costs, Health Services, Economics Education, Microeconomics
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Schmidt, Stephen – Journal of Economic Education, 2017
Introductory textbooks teach a simple normative story about the importance of maximizing economic surplus that supports common policy claims. There is little defense of the claim that maximizing surplus is normatively important, which is not obvious to non-economists. Difficulties with the claim that society should maximize surplus are generally…
Descriptors: Introductory Courses, Moral Values, Economics Education, Educational Policy
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Poutineau, Jean-Christophe; Vermandel, Gauthier – Journal of Economic Education, 2015
This article introduces macroprudential policy using a static New Keynesian Macroeconomics model with financial frictions. The authors analyze two related questions: First, they show how the procyclicality of financial factors, captured by the financial accelerator, amplifies the transmission of supply and demand shocks and impacts the intuition…
Descriptors: Macroeconomics, Policy, Models, Supply and Demand
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Graves, Philip E.; Sexton, Robert L.; Calimeris, Lauren M. – Journal of Economic Education, 2011
The surprise value of many economic observations makes the economics discipline quite interesting for many students. One such anomaly is that providing "free" education in an effort to reduce the number of dropouts can often result in a lower level of educational quality purchased. This result is easy to show with indifference curves, but many…
Descriptors: Introductory Courses, Economics Education, Supply and Demand, School Choice
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D'Agata, Antonio – Journal of Economic Education, 2010
The author develops a simple geometric analysis of Cournot-Nash equilibrium in the price-quantity space by exploiting the economic content of the first-order condition. The approach makes it clear that strategic interdependency in oligopoly originates from externalities among producers. This explains why cartels are unstable and casts oligopoly…
Descriptors: Economics Education, Geometric Concepts, Economics, Economic Impact
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Wells, Graeme – Journal of Economic Education, 2010
The author analyzes the inflation-targeting model that underlies recent textbook expositions of the aggregate demand-aggregate supply approach used in introductory courses in macroeconomics. He shows how numerical simulations of a model with inflation inertia can be used as a tool to help students understand adjustments in response to demand and…
Descriptors: Introductory Courses, Computer Simulation, Macroeconomics, Economic Climate
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Beaulier, Scott A.; Prychitko, David L. – Journal of Economic Education, 2010
The Edgeworth exchange diagram is a traditional tool of undergraduate microeconomic theory that depicts the mutually beneficial gains from voluntary trade. The authors take the analysis one step further. They identify the buyer's and seller's surpluses that accrue to both trading parties in the Edgeworth diagram. This is a straightforward exercise…
Descriptors: Economics Education, Undergraduate Study, Microeconomics, Models
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