This updated list of content standards covering economics is suggested for states developing their own economics standards. The list outlines the core requirements for basic literacy in economics for grades K-12. The statements are similar to designated content standards from other core subject areas. Key economic concepts describing their basic…

This book is designed to help teachers connect "The Stock Market Game" (tm) and the school curriculum. Three key economic themes developed in the lessons include: (1) stock buyers engage in economizing behavior; (2) market economies encourage the production of wealth; and (3) market activity takes place in the context of a legal…

During 1995-96, the Federal Reserve Bank of Chicago's (Illinois) Research Department carried out a comprehensive study of the Midwest economy. Researchers looked at the region's performance over the past 10-15 years to look for lessons for the future. The study included a series of academic symposia which brought together academic, private sector,…

Outlines the International Baccalaureate (IB) program and its origins at the International Schools Association in Geneva (Switzerland). Compares IB economics with the British Advanced level economics, stating that there is a good deal of overlap between the two. Concludes that IB economics is more effective and gives examples of test questions.…

Describes a training program developed for graduate students who serve as instructors of the introductory course in economics instruction at Syracuse University. Considers the problems involved in developing coherence and quality control in a multisection/multiteacher course. Reviews the instructional development process and evaluates the quality…

Attempts to measure the quality of inservice teacher education programs by examining impact on participating teachers. Uses a random sample of 1,200 K-12 teachers. Results showed economic education programs significantly affected understanding of basic economics and macroeconomic knowledge. (GG)

Explains the rise and fall of the oil cartel by applying an elasticity of demand analysis. Beginning from the demand side of the market, offers a simple derivation of the elasticity of demand for the cartel's product. Maintains that method helps undergraduates comprehend basic properties, requiring only an understanding of the elasticities of…

Contends that, when discrete choice models are taught, particularly the probit model, it is the method rather than the interpretation of the results that is emphasized. This article provides a graphical technique for interpretation of an estimated probit coefficient that will be useful in statistics and econometrics courses. (GG)

Shows how the concepts of consumer's surplus and producer's surplus can be related to basic welfare economics. Provides illustrations of the ways in which these concepts can be applied in introductory economics courses. Examines the social cost of monopoly, the tax burden, free trade, tariffs, and the English Channel Tunnel. (KO)

Examines the behavior of long-run average cost when the firm knows it faces pecuniary economies or diseconomies of scale. Asserts that the central issue is the conditions under which the scale properties of the production function will or will not dominate the pecuniary effects of changing input prices. (CFR)

Discusses the Stock Market Game in which teams of students buy and sell stocks. Reviews information on the costs and benefits of the game and its uses. Examines game strategies through the economics of capital markets. Concludes that substantial costs in class time may be outweighed by benefits in some classroom situations. (DK)

Argues for integrating heterodox economic theory into mainstream economics education. Uses the example of an integrated economic program at Dickinson College (Pennsylvania) to illustrate benefits. Describes components and methodology of the program. Sees positive outcomes for students, faculty, and the discipline. Includes course description,…

Discusses the dearth of material concerning how A-level boards assess British students' economics essays. Describes the practices of the Joint Matriculation Board (JMB) in grading papers on various subjects. Reveals how the London Board grades advanced level economics papers. Includes a chart showing London Board grading criteria. (SG)

Maintains that a discussion of the Eurocurrency market is now a regular feature of most money and banking textbooks. Explains that the demand for Eurocurrency deposits stems, in part, from a transactions motive and recommends that this approach be added to textbook presentations on the subject. (CFR)

Presents study results of how children reason about international trade. Explains that open ended questions were posed to students in grades 1-11 asking why nations trade, the benefits of trade, and their understanding of barriers to trade. Concludes that teaching fundamentals of international trade can be introduced as early as grade six. (DK)