In this article, the authors discuss the use of Federal Reserve Economic Data (FRED) statistics to teach the concept of price elasticity of demand in an introduction to economics course. By using real data in its computation, they argue that instructors can create a value-adding context for illustrating and applying a foundational concept in…

The normative elements underlying efficiency are more complex than generally portrayed and rely upon ethical frameworks that are generally absent from classroom discussions. Most textbooks, for example, ignore the ethical differences between Pareto efficiency (based on voluntary win-win outcomes) and the modern Kaldor-Hicks efficiency used in…

In this teaching note, the authors use an iconic London building, the Gherkin, as a motivation to understand exchange rates, cross exchange rates, and unhedged exchange rate risk. The famous tower was constructed in the early 2000s by Swiss Re, an insurance company, and then sold to investors as part of a sale-leaseback deal in early 2007.…

The canonical neoclassical model is insufficient to understand business cycle fluctuations in emerging market and developing economies. The author reformulates the model proposed by Aguiar and Gopinath (2007) in a simple setting that can be used to teach business cycle macroeconomics for emerging market and developing economies at the…

This article describes strategies developed at Princeton University to foster and promote research by all undergraduate students majoring in economics. It describes core features of the undergraduate research program and provides tangible recommendations for addressing resource constraints, and for incentivizing faculty advisors and students to…

One of the key components to the undergraduate research enterprise at Dartmouth is the recognition that learning to do research requires both directed instruction and learning by doing. The economics faculty have tailored a fruitful undergraduate research program based on this philosophy, and this article describes these efforts while also…

To prepare students to work competently with financially at-risk individuals, families, and communities, social work schools need to bring economic literacy skills into the curriculum. This article describes an ambitious financial capability education initiative in New York City. It reports on a unique collaborative effort to develop, use, and…

While much work has been done to explicitly incorporate ethics and Catholic social thought into the business curriculum, comparatively little has been done in the field of economics. This paper attempts to fill that gap by arguing that integrating Heinrich Pesch's Solidarism into the standard economics curriculum seamlessly introduces Catholic…

Some policies try to maximize net benefits by targeting different individuals to participate. This is difficult when costs and benefits of participation vary independently, such as in land conservation. The authors share a classroom game that explores cases in which minimizing costs may not maximize benefits and vice versa. The game is a…

The development of the economic system is not a spontaneous but a programmed and controlled process. Economy is always a controlled system in which there is always an appropriate subject of management. The article considers principles of the organization of the global economic system. The characteristic of the principle of "hierarchy of…

Health care is one of the economy's biggest industries, so it is natural that the health care industry should play some role in the teaching of introductory economics. There are many ways that health care can appear in such a context: in the teaching of microeconomics, as a macroeconomic issue, to learn about social welfare, and even to learn how…

In the past few decades, two novel variations of syllabus have emerged: namely "the Graphic Syllabus" and "the Interactive Syllabus". Each of these two variations of syllabus has its own special advantages. The present paper argues that there could be devised a new combined version of the two mentioned variations, called…

This paper presents an example of an approach to teaching financial theory at the college and post-graduate levels that I call "teaching backwards". In the more traditional approach, instructors begin by explaining financial theory, then proceed to give examples of the way this theory can be applied to a business problem, structuring…

The authors summarize successes in training researchers in the University of Chicago economics program over the last 15 years. Students learn to investigate quantitative relations using models in which purposeful but constrained economic agents interact. They are shown how a productive research culture requires careful work, collegiality, and…

Economics majors at Macalester College have won numerous awards for their research papers, and this success has helped them land jobs in finance, consulting, and the nonprofit sector, as well as gain admission to top graduate programs. This article describes how the Economics Department at Macalester promotes economic research among its students.