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Showing 1 to 15 of 138 results Save | Export
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Parkin, Michael – Journal of Economic Education, 2016
The author's objective for this reply in reexamining opportunity cost was to draw attention to two conflicting definitions of the concept in current use and to argue the case for dropping one of them. The comments of Daniel Arce, Rod O'Donnell, and Daniel Stone might be read as demonstration that the author has failed on both counts. Such a…
Descriptors: Economics Education, Definitions, Concept Teaching, Reader Response
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Arce, Daniel G. – Journal of Economic Education, 2016
In "Opportunity Cost: A Reexamination," Professor Parkin contrasts forgone physical quantities with forgone values as measures of the opportunity cost of basic economic decisions. The impetus for his study stems from an experiment conducted by Ferraro and Taylor (2005), in which professional economists could not reach a consensus over…
Descriptors: Costs, Economics, Intelligence, Economics Education
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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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Stone, Daniel F. – Journal of Economic Education, 2016
Ferraro and Taylor (2005) and Potter and Sanders (2012) have sparked a debate about the definition of opportunity cost (OC). This is, of course, ostensibly a very basic term, but Ferraro and Taylor said that most economists do not readily know its correct definition, and Potter and Sanders argued that this can be explained by the fact that there…
Descriptors: Costs, Economics, Definitions
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Emerson, Tisha L. N. – Journal of Economic Education, 2014
One associate editor's perspective on classroom experiment articles is detailed in this article. The associate editor provides recommendations for manuscripts for the Instruction (those that describe new classroom experiments) and Research (those reporting studies into the efficacy of classroom experiments as a pedagogical tool) Sections of…
Descriptors: Classroom Research, Classroom Techniques, Writing for Publication, Research Methodology
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Dighe, Ranjit S. – Journal of Economic Education, 2007
Although recent research strongly suggests that L. Frank Baum did not write "The Wonderful Wizard of Oz" as a monetary or political allegory, the Populist-parable interpretation of his book remains a tremendous teaching tool in economics classes. The author offers some background on the rise and fall of the Populist interpretation, in recognition…
Descriptors: Novels, Economics Education, Political Attitudes, United States History
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Wight, Jonathan B. – Journal of Economic Education, 2007
Adam Smith used the metaphor of an invisible hand to represent the instincts of human nature that direct behavior. Moderated by self-control and guided by proper institutional incentives, actions grounded in instincts can be shown to generate a beneficial social order even if not intended. Smith's concept, however, has been diluted and distorted…
Descriptors: Economics Education, Undergraduate Study, Free Enterprise System, Social Systems
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Pecorino, Paul – Journal of Economic Education, 2007
The author argues that the college textbook market provides a clear example of monopoly seeking as described by Tullock (1967, 1980). This behavior is also known as rent seeking. Because this market is important to students, this example of rent seeking will be of particular interest to them. (Contains 24 notes.)
Descriptors: Textbooks, Microeconomics, Competition, Economics Education
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Colander, David – Journal of Economic Education, 2006
In a recent article, Smith and Yates (2003) argued that regulators could gain additional information about the optimal number of permits to issue from two-sided markets. The author argues that they are incorrect in their assertion because the market they refer to is an asymmetric two-sided market in which individuals are only allowed to decrease…
Descriptors: Pollution, Economics, Access to Information
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Considine, John – Journal of Economic Education, 2006
The author disagrees with Homer Simpson who claims that "...cartoons don't have any deep meaning. They're just stupid drawings that give you a cheap laugh." He argues that The Simpsons have a deep meaning in the same way as the works of Jonathan Swift and George Orwell. The message in The Simpsons, Swift, and Orwell is that those in charge do not…
Descriptors: Cartoons, Satire, Novels, Economics Education
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Dixit, Avinash – Journal of Economic Education, 2005
The author suggests methods for teaching game theory at an introductory level, using interactive games to be played in the classroom or in computer clusters, clips from movies to be screened and discussed, and excerpts from novels and historical books to be read and discussed.
Descriptors: Game Theory, Teaching Methods, Video Games, Economics Education
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Bergstrom, Theodore C.; Kwok, Eugene – Journal of Economic Education, 2005
How well does competitive theory explain the outcome in experimental markets? The authors examined the results of a large number of classroom trading experiments that used a pit-trading design found in Experiments with Economic Principles, an introductory economics textbook by Bergstrom and Miller. They compared experimental outcomes with…
Descriptors: Economics Education, Experiments, Class Activities, Textbooks
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Chen, Edward K. Y. – Journal of Economic Education, 2005
The author has chosen three major topics in development economics for a discussion on how to teach the subject: the concepts and measurement of development, models of growth and development, and the international aspects of economic development. For the concepts of development, it is important to emphasize the coherence of the topics to be…
Descriptors: Economic Development, Economic Progress, Models, Global Approach
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Colander, David – Journal of Economic Education, 2005
Fifty years ago what was taught in the principles of economics course reflected reasonably well what economists did in their research. That, however, is no longer the case; today what economists teach has a more nuanced relation to what they do. The reason is that the economics profession and the textbooks have evolved differently. The author…
Descriptors: Economics Education, Microeconomics, Economic Research, Teaching Methods
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Hey, John D. – Journal of Economic Education, 2005
Most people learn to drive without knowing how the engine works. In a similar vein, the author believes that students can learn economics without knowing the algebra and calculus underlying the results. If instructors follow the philosophy of other economics courses in using graphs to illustrate the results, and draw the graphs accurately, then…
Descriptors: Teaching Methods, Microeconomics, Computer Software, Graphs
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