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Consensus Among Economists: Revisited

Nama Pengarang : -
Nama Majalah/Jurnal : The Journal of Economic Education
Volume / Nomor Edisi : -
Nomor Halaman : 369-387
Abstraksi Narasi : The authors explore consensus among economists on specific propositions on the basis of a fall 2000 survey of American Economic Association members. Because some propositions are drawn from earlier studies, the results illustrate the dynamics of opinion within the profession. The authors generally find consensus within the profession, although the degree of consensus varies between propositions that are international, macroeconomic, and microeconomic in nature. Consensus is particularly strong for propositions of free international trade and capital flows. In contrast, macroeconomic propositions exhibit a lower degree of consensus, partly because of increased agreement with monetarist and supply-side propositions over time. The profession displays substantial skepticism concerning claims of the "New Economy."

Appealing to Good Students in Introductory Economics

Nama Pengarang : Owen, Ann L., Elizabeth J. Jensen, Dan Fuller, Doris Geide-Stevenson, Howard Bodenhorn, Don Leet, Scott Houser, Paul Dalziel, Marc Lavoie, David Laband, John Hudson
Nama Majalah/Jurnal : The Journal of Economic Education
Volume / Nomor Edisi : -
Nomor Halaman : 299-325
Abstraksi Narasi : The authors examine the effectiveness of different teaching techniques using a unique data set that allows them to match student and instructor characteristics to assess their impact on students` interest in economics. They find that devoting less class time to lecture and more to discussion in effective for all types of students. However, the magnitude of the effects of these two techniques varies considerably by type of student, as does the impact of several other teaching techniques. They conclude that using a variety of teaching techniques is the most successful strategy to appeal to the broad range of learning styles adopted by "good" students.

Solving Continuous-Time Optimal-Control Problems with a Spreadsheet

Nama Pengarang : -
Nama Majalah/Jurnal : The Journal of Economic Education
Volume / Nomor Edisi : -
Nomor Halaman : 99-122
Abstraksi Narasi : The author explains how optimal-control problems can be solved with a common spreadsheet such as Microsoft Excel. He illustrates the method with several examples ranging from simple models to quite advanced topics. The method is intended to be beneficial to students and teachers working with complicated theory in the classroom as well as researchers needing a tool for finding numerical solutions to optimal control problems.

Should Consumers be Priced Out of Pollution-Permit Markets?

Nama Pengarang : -
Nama Majalah/Jurnal : The Journal of Economic Education
Volume / Nomor Edisi : -
Nomor Halaman : 181-189
Abstraksi Narasi : The authors present a simple diagrammatic exposition of a pollution-permit market in which both firms the generate pollution and consumers who are harmed by pollution are allowed to purchase permits at a single market price. They show that the market equilibrium is efficient if and only if the endowment of permits is equal to the efficient level of pollution. Furthermore, if consumers actually participate in the market, then the equilibrium is not efficient. Welfare can be improved by decreasing the endowment of permits and thereby pricing consumers out the market.

Lessons from the Specific Factors Model of International Trade

Nama Pengarang : -
Nama Majalah/Jurnal : The Journal of Economic Education
Volume / Nomor Edisi : -
Nomor Halaman : 139-150
Abstraksi Narasi : The Specific Factors model is an excellent learning tool. It provides insights into the meaning of economic efficiency, how complex economies simultaneously determine prices and quantities (and that it is relative prices that matter), and how changes in demand conditions or technology can affect income distributions among owners of factors of production. The authors develop this model using spreadsheets. Spreadsheets help students deal with "what-if" questions within prepared spreadsheets. They also give students the chance to look into the workings of the model and to change its structure. The exercise spreadsheets provide important advantages over using "black-box" presentations. Moreover, using spreadsheets gives students an opportunity to practice their use of spreadsheet software.

Illustrated Examples of the Effects of Risk Preferences and Expectations on Bargaining Outcomes

Nama Pengarang : -
Nama Majalah/Jurnal : The Journal of Economic Education
Volume / Nomor Edisi : -
Nomor Halaman : 169-180
Abstraksi Narasi : The author highlights bargaining examples that use expected utility theory. Bargainer payoffs in the event of a dispute are represented by a simple lottery. Expectations are assumed to affect a bargainer`s subjective probabilities over lottery outcomes, and risk preferences affect the expected utility of a given lottery. Risk preferences and/or expectations are predicted to influence both negotiated outcomes and the likelihood of a bargaining impasse. The analysis shows that, ceteris paribus, risk aversion or pessimism, or both, will cause a bargainer to capture less of the pie in negotiations. Similarly, risk-loving and optimistic bargainers are more likely to experience impasse because of the disappearance of the contract zone. The results are intuitive, can be shown graphically and algebraically, and provide upper-level students with engaging examples that show the usefulness of expected utility theory.

Competitive Equilibrium and Classroom Pit Markets

Nama Pengarang : -
Nama Majalah/Jurnal : The Journal of Economic Education
Volume / Nomor Edisi : -
Nomor Halaman : 123-137
Abstraksi Narasi : Efforts to show the relevance of economic concepts early in a student`s education can prevent the "economics is not very useful" attitude from setting in. The author extends the work of Holt to describe a pit-market experiment used to illustrate the concept of competitive equilibrium. In addition to detailed instructions as to how to set up and conduct a pit-market experiment, the author discusses features of the data and provides accompaying materials, including software for the display of the data.

Active and Cooperative Learning Using Web-Based Simulations

Nama Pengarang : Stephen J. Schmidt, Bradley J. Ruffle, David L. Dickinson, J. Wilson Mixon, Soumaya M. Tohamy, Andrew J. Yates, Stefani C. Smith, Eric Naevdal
Nama Majalah/Jurnal : The Journal of Economic Education
Volume / Nomor Edisi : -
Nomor Halaman : 151-167
Abstraksi Narasi : The author discusses the advantages of using computers and the World Wide Web in classroom simulation exercises. Using networked computers permits a richer simulation design, allows more complicated decisions by the students, and facilitates reporting results for later discussion. The web is an ideal technology for such simulations because computers already have Web-capable browsers, with which students are familiar, and information on creating Web sites is readily available. The author discusses these points in the context of a sample simulation that teaches basic economic principles of trade, investment, and public goods in the context of American economic history.

The Teaching of Undergraduate Economics: A Discussion List

Nama Pengarang : -
Nama Majalah/Jurnal : The Journal of Economic Education
Volume / Nomor Edisi : -
Nomor Halaman : 92
Abstraksi Narasi : -

Teaching Critical Thinking with Electronic Discussion

Nama Pengarang : -
Nama Majalah/Jurnal : The Journal of Economic Education
Volume / Nomor Edisi : -
Nomor Halaman : 36-52
Abstraksi Narasi : One of the products of a liberal undergraduate education is the ability to think critically. In practice, critical thinking is a skill that economics students are supposed to master as they complete their studies. However, exactly what critical thinking means is generally not well defined. Building on the literature on critical thinking, the authors examine how electronic discussion can be used effectively to teach this skill. Because of the multiplicity of views expressed, the asynchronous nature of the technology, and the inherent positive spillovers that are created, electronic discussion appears to provide a natural framework for teaching critical thinking.
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