Presents a diagram for figuring the value of time into an individual's labor-supply decisions and the time intensiveness of the individual's consumption patterns. Seeks to make the integration of differing time values with leisure income choices more understandable for students. (DK)

Recommends reviewing the 1958 debate between P. A. Samuelson and J. R. Minasian over the controversy involving tax-financed television versus pay-TV. This exercise is a lively way to introduce students to the issue of exclusionary devices for public goods. Includes graphical analysis and excerpts from the original debates. (MJP)

Briefly defines and provides some background on Eugen von Bohm-Bawerk's "marginal pairs" theory of pricing. Asserts that Bohm-Bawerk's theory is a good introduction to the Austrian school of economics and illustrates the differences between this approach and neoclassical economic theory. Includes several graphs and tables of data. (MJP)

Describes an economics class experiment where students ranked the quality of baked pies according to limited information. The limited sets of information included brand name and packaging only, price only, advertising only, word-of-mouth, and taste test. Discusses signals of quality and consumer decisions. (MJP)

Traces the changes in consumer habits for tea and coffee in Iran from the early 15th century (introduction of the beverages) to the late 19th century. Consumption often was tied to regional differentiation and social stratification. Shifting trade routes, especially those involving Russia and England also produced changes. (MJP)

Describes an undergraduate economics course experiment designed to teach the concepts of comparative advantage and opportunity costs. Students have a limited number of labor hours and can chose to produce either wheat or steel. As the project progresses, the students trade commodities in an attempt to maximize use of their labor hours. (MJP)

Presents a relatively simple costs/benefits analysis problem perfectly suited for an introductory economics course. Reveals that neither the health insurer (which bears only the hospitalization costs of acute care) nor the patient (who incurs lost earnings and psychological costs) has an adequate incentive to pay for preventive care. (MJP)

Utilizes two-dimensional price and output graphs to demonstrate the way that the price-level elasticity of aggregate demand affects alternative monetary policy rules designed to cope with random aggregate supply shocks. Includes graphs illustrating price-level, real Gross Domestic Product (GDP), nominal GDP, and nominal money supply targeting.…

Maintains that most graduate-level economics textbooks rarely mention the need for consumers to be above their minimum wealth position as a condition for market equilibrium. Argues that this omission leaves students with a mistaken sense about the range of circumstances under which market equilibria can exist. (MJP)

Presents a simple diagrammatic technique for conveying the idea of Ricardian equivalence or policy neutrality in the provision of public goods. Includes several diagrams illustrating basic positions regarding the relationship between voluntary public contributions and taxation. Provides a brief explanation of the illustrated concepts. (MJP)

Reports on an economic empowerment model that focuses on the household economy and the resources required by households for the production of their livelihood. Conceives of household economies as integrating the moral economy of social relations with the exchange economy based on money transactions. (MJP)

Maintains that spreading poverty in Europe has weakened social cohesion and now threatens the construction of the European Community. Initially centered on issues concerning the distribution of resources and goods, the discussion increasingly has focused on the breakdown of social relationships and the question of citizen's rights. (MJP)