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Positive Feedback and Path Dependence Using tha Law of Large Numbers

Nama Pengarang : -
Nama Majalah/Jurnal : The Journal of Economic Education
Volume / Nomor Edisi : -
Nomor Halaman : 124-136
Abstraksi Narasi : Economists have become interested in the behavior of random processes with positive feedback but have sometimes found it difficult to introduce students to this research. Simulation of the law of large numbers with increasing amounts of feedback provides a convenient framework for such discussion and facilitates on nontechnical introduction to recent work on path dependence.

Fixed and Sunk Costs Revisited

Nama Pengarang : -
Nama Majalah/Jurnal : The Journal of Economic Education
Volume / Nomor Edisi : -
Nomor Halaman : 178-185
Abstraksi Narasi : The authors attempt to clarify the concepts of, and the link between, fixed costs and sunk costs. They argue that the root for possible confusion between fixed costs and sunk costs is theinconsistency in defining the term fixed costs. They define fixed costs uniformly as the costs that are independent of the level of output and suggest that instructors refer to the part of fixed costs that are irrevocably committed as sunk costs. Under these definitions, the statement :there are no long-run fixed costs" is incorrect. Instructors should teach students that in the long run there are no sunk costs, although there may easily be fixed costs.

Comparison Study of Different Implementations of Derivative Pricing Models

Nama Pengarang : -
Nama Majalah/Jurnal : The Journal of Economic Education
Volume / Nomor Edisi : -
Nomor Halaman : 192
Abstraksi Narasi : -

Bootstrapping Student Understanding of What Is Going on in Economics

Nama Pengarang : -
Nama Majalah/Jurnal : The Journal of Economic Education
Volume / Nomor Edisi : -
Nomor Halaman : 110-123
Abstraksi Narasi : Econometrics is an intellectual game played by rules based on the sampling distribution concept. Most students in econometrics classes are uncomfortable because they do not know these rules and so do not understand what is going on in econometrics. This article contains some explanations for this phenomenon and suggestions for how this problem can be addressed. Instructors are encouraged to use explain-how-to-exercises to promote student understanding of the rules of the game.

Absenteeism and Undergraduate Exam Performance

Nama Pengarang : -
Nama Majalah/Jurnal : The Journal of Economic Education
Volume / Nomor Edisi : -
Nomor Halaman : 99-109
Abstraksi Narasi : The author investigates the relationship between students` absenteeism during a principles of microeconomics course and their subsequent performance on exams. Records were maintained regarding the specific class periods that each student missed during the semester. Records were also kept of the class meeting when the material corresponding to each multiple-choice test question was covered. A qualitative choice model reveals that students who missed class on a given date were significantly more likely to respond incorrectly to questions relating to material covered that day than students who were present.

A Monopoly Classroom Experiment

Nama Pengarang : Robert J. Oxoby, Daniel R. Marburger, Peter E. Kennedy, Wai-yan Cheng, Carles Fan, X. Henry Wang, Bill Z. Yang, Peter Hans Matthews, Siegfried, John J., Peter E. Kennedy, John Elder, James E. Hartley, Denise Robson
Nama Majalah/Jurnal : The Journal of Economic Education
Volume / Nomor Edisi : -
Nomor Halaman : 160-168
Abstraksi Narasi : The author uses a simple classroom experiment to develop the economic model of monopoly. As a pedagogical tool, the experiment introduces students to the nature of the monopoly problem and motivates them to think of the associated efficiency issues as a divergence between private benefits and social contributions. As a test of economic principles, the experiment highlights the role in information and fairness ideals in determining economic outcomes.

The Simple Expenditure Model with Trade: How Should We Model Imports?

Nama Pengarang : -
Nama Majalah/Jurnal : The Journal of Economic Education
Volume / Nomor Edisi : -
Nomor Halaman : 53-57
Abstraksi Narasi : Imports are modeled as a fixed proportion of spending rather than as a function of total or disposable income. With this formulation, the import component of spending shifts must be netted out in order to predict the initial autonomous change in domestic spending. In addition, the formulation should provide a clearer understanding than current formulations of how leakages influence the multiplier process.

Teaching Cournot Without Derivatives

Nama Pengarang : -
Nama Majalah/Jurnal : The Journal of Economic Education
Volume / Nomor Edisi : -
Nomor Halaman : 36-40
Abstraksi Narasi : The author presents a simple technique for teaching the Cournot model to first-year students. The approach involves demonstrating to the students that out of all rectangles with a common perimeter, the square has the greatest area. No use is made of derivatives. The same approach can be used to understand some other market forms.

Teacher and Student Economic Understanding in Transition Economies

Nama Pengarang : -
Nama Majalah/Jurnal : The Journal of Economic Education
Volume / Nomor Edisi : -
Nomor Halaman : 58-67
Abstraksi Narasi : This study describes a new data set and uses it for an exploratory investigation of whether seminars for teachers conducted by the National Council on Economic Education through its International Education Exchange Program (IEEP) had a beneficial effect on the economic understanding of the high school students of these teachers. The data were collected using a nonequivalent control group design that sorted teachers into two groups based on whether or not they participated in an IEEP seminar. Pre- and posttests of economics were administered to the students of these teachers in Lithuania, Ukraine, Kyrgyzstan, and poland. The exploratory results showed a larger increase in the economic understanding of students of teachers who participated in the IEEP seminars compared with students of teachers who did not. The results also showed that knowledge of economics among IEEP teachers was a factor for improving student achievement in economics. The findings should beviewed with caution because of data limitations.

Reforming Undergraduate Instruction in Russia, Belarus, and Ukraine

Nama Pengarang : -
Nama Majalah/Jurnal : The Journal of Economic Education
Volume / Nomor Edisi : -
Nomor Halaman : 78-92
Abstraksi Narasi : The authors deal with the restructuring of undergraduate economics instruction at Moscow State University (MSU) since 1989. They examine how closely the reform at MSU are mirrored by changes at Belarus State University in Minsk and Kiev State University. They also consider, and often offer an "insider`s" persective on, several issue related to curriculum reform that go beyond what can be determined from published curriculum guides. Specifically, they consider such issues as the training and retraining of faculty members who teach courses in these departments, the use of translated Western textbooks versus locally developed textbooks, and problems that arise in departments where some faculty members teach Western economics but others continue to teach Soviet-style economics.
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