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Chen, Ziyue; Djalalova, Fatima; Rothschild, Casey; Hofmann, Annette – Journal of Economic Education, 2023
Textbook models of externalities tacitly assume that those externalities fall upon individuals "outside" of the market. In many contexts--including common undergraduate examples--externalities fall "inside" the market instead. Positive externalities associated with vaccination, for instance, accrue to other individuals who…
Descriptors: Teaching Methods, Economics Education, Immunization Programs, Undergraduate Students
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Berik, Günseli; Rodgers, Yana van der Meulen – Journal of Economic Education, 2023
An undergraduate course in development economics presents an ideal opportunity to introduce students to the importance of gender differences in economic outcomes. The authors of this article argue that a systematic integration of gender into development economics courses based on standard textbooks is feasible and desirable. They provide a…
Descriptors: Economics Education, Teaching Methods, Gender Differences, Economic Development
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Siegfried, John; Colander, David – Journal of Economic Education, 2022
Teaching students to use critical thinking skills is a popular goal of many economics courses. But what does "critical thinking" really mean, and how is it implemented? This article considers various interpretations of "critical thinking" and distinguishes "big-think" from "little-think" critical thinking,…
Descriptors: Teaching Methods, Economics Education, Critical Thinking, Textbooks
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Ihrig, Jane; Wolla, Scott – Journal of Economic Education, 2022
The topic of the Federal Reserve's (the Fed's) implementation of monetary policy has a significant presence in economics textbooks. Unfortunately, as the Fed purposefully shifted the way it implements monetary policy to an environment with ample reserves in the banking system, many textbooks have not kept up. The authors walk through the key…
Descriptors: Teaching Methods, Economics Education, Financial Policy, Textbooks
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Neveu, Andre R. – Journal of Economic Education, 2020
The money creation and monetary policy chapters in the leading introductory textbooks commonly present an outdated and misleading approach that is now largely irrelevant. A preferable model would help students understand that money and monetary policy are about bank and household motives, the importance of capital, and the role of credit. An…
Descriptors: Macroeconomics, Introductory Courses, Economics Education, Monetary Systems
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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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O'Donnell, Rod – Journal of Economic Education, 2016
Rod O'Donnell writes here that there is a wide and deep confusion in contemporary economics about the concept and role of opportunity cost (OC). O'Donnell states that his main grounds for making this claim are the muddled, variable, and sometimes conflicting treatments of OC in modern textbooks; the disturbing empirical results in surveys of both…
Descriptors: Costs, Economics, Textbooks, Economics Education
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Fike, Rosemarie; Gwartney, James – Journal of Economic Education, 2015
Public choice uses the tools of economics to analyze how the political process allocates resources and impacts economic activity. In this study, the authors examine twenty-three principles texts regarding coverage of public choice, market failure, and government failure. Approximately half the texts provide coverage of public choice and recognize…
Descriptors: Textbooks, Economics Education, Failure, Government (Administrative Body)
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Buttet, Sebastien; Roy, Udayan – Journal of Economic Education, 2014
Several leading undergraduate intermediate macroeconomics textbooks now include a simple reduced-form New Keynesian model of short-run dynamics (alongside the IS-LM model). Unfortunately, there is no accompanying description of how the zero lower bound on nominal interest rates affects the model. In this article, the authors show how the…
Descriptors: Economics Education, Macroeconomics, Financial Policy, Models
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Tinkler, Sarah; Woods, James – Journal of Economic Education, 2013
The authors evaluated principles of macroeconomics textbooks for readability using Coh-Metrix, a computational linguistics tool. Additionally, they conducted an experiment on Amazon's Mechanical Turk Web site in which participants ranked the readability of text samples. There was a wide range of scores on readability indexes both among…
Descriptors: Macroeconomics, Textbooks, Readability, Computational Linguistics
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de Araujo, Pedro; O'Sullivan, Roisin; Simpson, Nicole B. – Journal of Economic Education, 2013
A lack of consensus remains on what should form the theoretical core of the undergraduate intermediate macroeconomic course. In determining how to deal with the Keynesian/classical divide, instructors must decide whether to follow the modern approach of building macroeconomic relationships from micro foundations, or to use the traditional approach…
Descriptors: Macroeconomics, Economics Education, Course Content, Teaching Methods
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Phipps, Barbara J.; Strom, Robert J.; Baumol, William J. – Journal of Economic Education, 2012
In most introductory textbooks on principles of economics, discussion of the theory or practice of entrepreneurship is almost entirely absent. This omission is striking, given the important role in economic growth that economists assign to the entrepreneur. While there are plausible explanations for this omission, new research suggests the…
Descriptors: Economic Progress, Textbooks, Economics Education, Foreign Countries
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Tremblay, Carol Horton; Tremblay, Victor J. – Journal of Economic Education, 2010
Monotone methods enable comparative static analysis without the restrictive assumptions of the implicit-function theorem. Ease of use and flexibility in solving comparative static and game-theory problems have made monotone methods popular in the economics literature and in graduate courses, but they are still absent from undergraduate…
Descriptors: Game Theory, Textbooks, Economics Education, Policy Analysis
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Goldsmith, Arthur H. – Journal of Economic Education, 2008
Standard introductory textbook authors assert that an increase in government spending expands aggregate demand in the short run but also raises the interest rate and, thus, crowds out private investment in the long run. Because the decrease in investment results in a smaller capital stock, potential output or production capacity decreases. The…
Descriptors: Macroeconomics, Economic Progress, Investment, Financial Support
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Watts, Michael; Becker, William E. – Journal of Economic Education, 2008
In 1995, 2000, and 2005, the authors surveyed U.S. academic economists to investigate how economics is taught in four different types of undergraduate courses at postsecondary institutions. They especially looked for any changes in teaching methods that occurred over this decade, when there were several prominent calls for economists and…
Descriptors: Economics Education, Undergraduate Study, Teaching Methods, National Surveys
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