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Facilitating Student Experimentation with Statistical Concepts

Nama Pengarang : -
Nama Majalah/Jurnal : The Journal of Economic Education
Volume / Nomor Edisi : -
Nomor Halaman : 295
Abstraksi Narasi : -

Economic Literacy Among Corporate Employees

Nama Pengarang : -
Nama Majalah/Jurnal : The Journal of Economic Education
Volume / Nomor Edisi : -
Nomor Halaman : 195-205
Abstraksi Narasi : The authors report on the results of a telephone survey of 1,001 employees of seven large corporations conducted for the Business Roundtable as part of its public policy program. A set of 20 questions keyed to the Voluntary National Content Standards in Economics was embedded in the survey. A measure of economic literacy was constructed from the survey results. Greater economic literacy was associated with more overall education, more college economics coursework, high incomes, and being male. An examination of individual test questions revealed that previous college economics had substantial effects on employees` current economic literacy.

Classroom Games: The Allocation of Renewable Resources Under Different Property Rights and Regulation Schemes

Nama Pengarang : -
Nama Majalah/Jurnal : The Journal of Economic Education
Volume / Nomor Edisi : -
Nomor Halaman : 236-253
Abstraksi Narasi : The authors describe a renewable resource allocation game designed to stimulate students` interest in and understanding of market failure associated with open-access types of resource use. They also use the game to discuss the advantages and disadvantages of various property rights and regulation schemes. Because this exercise demonstrates the power of unregulated and regulated economic incentives, many types of students may benefit from this game, including undergraduates enrolled in the standard introductory and in more advanced microeconomics classes, as well as courses in environmental economics and natural resource economics. This game was specifically designed so that noneconomics majors in natural resource management and environmental courses could also benefit.

Another Graphical Proof of Arrow`s Impossibility Theorem

Nama Pengarang : -
Nama Majalah/Jurnal : The Journal of Economic Education
Volume / Nomor Edisi : -
Nomor Halaman : 217-235
Abstraksi Narasi : Arrow`s (1951) Impossibility Theorem is the idea that, given several well-known assumptions, the social orderings of particular alternatives that are meant to reflect individuals` preferences must match the preferences of an arbitrary individual (the dictator). A social-choice rule other than dictatorship is impossible. Following from Fountain (2000), the author presents another graphical proof of the theorem that is intended to be more accessible to students and teachers of economics. The principal strength of this approach is that the patterns of agreements and conflicts over all possible combinations of two individuals` rankings of alternatives are transparent; appreciating these patterns is the key to intuitively understanding Arrow`s theorem. A self-test for readers (or a classroom exercise for students) is included.

A Graphical Approach to the Standard Principal-Agent Model

Nama Pengarang : Xianming Zhou, Paul Hansen, Kelly L. Giraud, Mark Herrmann, William C. Wood, Joanne M. Doyle, Patricia K. Smith, Peter Bodo, Dennis A. Kaufman, Rebecca S. Kaufman, David W. Weber, Bradley A. Hansen, Siegfried, John J.
Nama Majalah/Jurnal : The Journal of Economic Education
Volume / Nomor Edisi : -
Nomor Halaman : 265-276
Abstraksi Narasi : An obstacle to the teaching of principal-agent theory is the technical complexity and intractability of the general model. Even in academic studies strong assumptions are often imposed so as to derive an analytical solution. The author describes a graphical approach to the standard principal-agent model. Characterizing equilibrium in the contract space defined by the incentive parameter and insurance component of pay under a linear contract, this approach provides a simple and intuitive method for analyzing the principal-agent problem, which can be easily understood by students of economics with basic knowledge of algebra and differentiation. The approach has shown to be convenient and rich for comparative statics analyses.

Tolerance of Cheating: An Analysis Across Countries

Nama Pengarang : -
Nama Majalah/Jurnal : The Journal of Economic Education
Volume / Nomor Edisi : -
Nomor Halaman : 125-135
Abstraksi Narasi : Cheating is a serious problem in many countries. The cheater gets higher marks than deserved, thus reducing the efficiency of a country`s educational system. In this study, the authors did not ask if and how often the student had cheated, but rather what the student`s opinion was about a cheating situation. They investigated whether attitudes differ among students in Russia, the Netherlands, Israel, and the United States and conslude that attitudes toward cheating differ considerably between these caountries. They offer various explanations of this phenomenon. In addition, they find that the stuent`s attitude toward cheating depends on the student`s educational level (high school, undergraduate, post-graduate),. Finnaly, they show that the data from the sample can be aggregated in a natural and elegant way, and they suggest a tolerance-of-cheating index for each country.

Introducing Nonlinear Pricing into Consumer Choice Theory

Nama Pengarang : -
Nama Majalah/Jurnal : The Journal of Economic Education
Volume / Nomor Edisi : -
Nomor Halaman : 166-179
Abstraksi Narasi : Introducing nonlinear pricing into the teaching of consumer choice theory would provide an extension that introduces the student to a ubiquitous phenomenon and would enable the instructor to develop some interseting behavioral results. After distinguishing linear and nonlinear pricing, the authors derive the tariff, the consumer budget equation, and some behavioral implications for various nonlinear pricing policies. They show, among other things, that under some forms of nonlinear pricing, after price rise people may buy more of commodity or more of a commodity than would have been bought under linear pricing. They note some complications arising in the treatment of quantity discounts and premia.

Implementing Hansen`s Proficiensies

Nama Pengarang : -
Nama Majalah/Jurnal : The Journal of Economic Education
Volume / Nomor Edisi : -
Nomor Halaman : 180-191
Abstraksi Narasi : The authors describe the framework their department has adopted to incorporate the attainment of Hansen`s (1986) proficiences into the curriculum. Major changes include the identification of tools students should be able to use to complete specific activities, significant changes in prerequisites for upper-division courses, and the development of a capstone experience designed to bring together the various tools the student has been introduced to as he or she proceeds through the major. They believe that the design characteristics of their capstone experience promote the achievement of Hansen`s proficiencies, and the framework described here could be easily adopted by other departments.

Growth and the Current Account in a Small Open Economy

Nama Pengarang : -
Nama Majalah/Jurnal : The Journal of Economic Education
Volume / Nomor Edisi : -
Nomor Halaman : 152-165
Abstraksi Narasi : The authors provide a framework with which to analyze growth in a small economy with perfect capital mobility. The framework provides a diagrammatic representation of steady states that differs in interesting and important ways from the usual closed-economy Solow-Swan diagram. The authors use he key diagrams to illustrate the effects of changes in parameters such as the savng rate and productivity growth on steady-state results for the open economy with those obtained using the more familiar closed-economy model. They illustrate the possibility of endegenous income growth.

Are Faculty Role Models? Evidence from Major Choice in an Undergraduate Institution

Nama Pengarang : -
Nama Majalah/Jurnal : The Journal of Economic Education
Volume / Nomor Edisi : -
Nomor Halaman : 99-124
Abstraksi Narasi : The gap between men`s and women`s choice of college majors has not changed over the past two decades. One aspect of the debate surriunding their choice is the presence or absence of women and minority faculty role models who couuld attract female and minority students to a particular major. The authors provide new evidence using micro-data from student records, transcript records, and faculty records from the Colgate University classes of 1988-2000. The authors found role-model effectss for women, minorities, and men. The proportion of classes taken with a faculty member "like-you" has a positive effect on the probability that a student will choose that major. These results support the idea that faculty members can exert a role-model effect on women and minority undergraduates.
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