In this paper we explore and discuss an important research question in higher education--is there a trade-off relationship between in-class and out-of-class efforts for students? We used an empirical model to test the trade-off hypothesis between these two efforts. We identified a trade-off between in-class and out-of-class efforts, especially for…

Integrating interdisciplinary social studies topics and social responsibility concepts into a business education class can be meaningful for student learning. The discipline of social studies includes multiple areas such as economics, history, sociology, and anthropology. Social responsibility in a business sense means that companies are concerned…

Over 20 years ago, the late William Zahka (1990, 1998) outlined how the acceptance speeches of those who received the Nobel Memorial Prize in Economic Science could be used to teach undergraduates. This article updates and expands Zahka's work, identifying some of the issues discussed by recent Nobel Laureates, classifying their speeches by topic…

The author of this article questions what has been gained from Berrett's exploration of the connections between competency development and individual required courses. She concludes from this analysis that students' competency development is a responsibility that cuts across many courses and many levels of expected student proficiency. To put it…

The authors conducted an empirical examination of the relationship between extra-normal ability (inability) in principles of economics courses and student performance in the various areas of the business discipline such as finance, marketing, management, and accounting. Extra-normal ability is defined as the part of an economics grade that cannot…

The authors outline a pair of classroom activities designed to provide an intuitive foundation to the theoretical introduction of advertising in monopoly markets. The roles of both informative and persuasive advertising are covered. Each student acts as a monopolist and chooses the number of (costly) advertisements and the price. The experiments…

Consider an auction in which one potential buyer wishes to participate, but the other potential buyer would rather the bidding not start. However, once bidding starts, the reluctant firm participates (submits "bluff bids") simply to make the eventual winner pay more. This incentive exists when the marginal effect of the winning bid is to increase…

This article presents an applied research framework that can be helpful in tuition and net price policy discussions. It is the classic microeconomic concept of market demand applied to enrollment management in higher education. The policy relevance includes measuring a response to price. For example, the results of this model will allow the…

Undergraduate economics lags behind cutting-edge economic theory. The author briefly reviews six related advances that profoundly extend and deepen economic analysis: game-theoretic modeling, collective-action problems, information economics and contracting, social preference theory, conceptualizing rationality, and institutional theory. He offers…

Corporate "social-issues management" courses are often taught without in-depth reference to economics, but they afford an opportunity both to review ground-level microeconomics issues including pricing and profit maximization under different market structures and to introduce more advanced topics such as externalities, introductory game theory,…

The authors shed light on the original equipment manufacturer's strategic behavior in the duopoly aftermarket. The original equipment manufacturer, firm 1, captures via its foremarket price some fraction of the aftermarket consumer surplus, where that surplus is generated by consumption of its own and its competitor's aftermarket products. The…

All of the authors seem to share the perception that one can no longer expect much from macroeconomic policies. The authors of this paper share this opinion, but this should not be interpreted as the skeptical view that macroeconomic policies are ineffective on employment. They saw from the Korea's two crises how contrasting outcomes could result…

The use of online lecture recordings as a supplement to physical lectures is an increasingly popular tool at many universities. This paper combines survey data with student record data for students in a "Microeconomics Principles" class to examine the relative effects of lecture attendance and online lecture recordings. The main finding…

This article examines the differences in fiscal conservatism between students enrolled in a college of business and those enrolled as nonbusiness majors. Fiscal conservatism is examined using two constructs: fiscal ideology (a) at a macro level and (b) at a micro level, students' ability to monitor and regulate their personal consumer spending…

When students fail an examination at the end of their first year, they are offered a resit examination, which they merely need to pass to progress into the second year. These resits anecdotally provide a dual purpose of testing that students have achieved the required level of attainment to progress, and incentivising additional effort. This paper…