The Teaching Innovations Program (TIP) was a six-year project funded by the National Science Foundation that gave economics instructors the opportunity to learn interactive teaching strategies for use in undergraduate economics courses. TIP participants first attended a teaching workshop that presented various teaching strategies. They then could…

Course research projects that use easy-to-access real-world data and that generate findings with which undergraduate students can readily identify are hard to find. The authors describe a project that requires students to estimate the current female-male earnings gap for new college graduates. The project also enables students to see to what…

A classic article by Gary Becker (1965) showed that when it takes time to consume, the first order conditions for optimal consumption require the marginal rate of substitution between any two goods to equal their relative full costs. These include the direct money price and the money value of the time needed to consume each good. This important…

Statistics, econometrics, investment analysis, and data analysis classes often review the calculation of several types of averages, including the arithmetic mean, geometric mean, harmonic mean, and various weighted averages. This note shows how each of these can be computed using a basic regression framework. By recognizing when a regression model…

Economics can be taught much earlier than we usually imagine, as a life skill, with direct experience, from kindergarten on. An experiential, early-grades economics of budgets, buying, and giving-up-to-get may be better than the politically inspired insistence that students get an allegedly healthy dose of free-market ideology just before they are…

The typical profit-maximization solution for the joint-production problem found in intermediate texts, managerial texts, and other texts concerned with optimal pricing is oversimplified and inconsistent with profit maximization, unless there is either no excess of any of the joint products or no costs associated with dumping. However, it is an…

In 2009, the economics department at Kansas State University began one of the first department-level Women in Economics groups for female graduate students in the United States. This is particularly important because of the general under-representation of women in the economics profession and especially in the academy. The main goals of this group…

Students with an understanding of economics are better equipped to comprehend the forces that influence people's standard of living and overall financial well-being. Broad-based economic literacy supports an environment where students can participate in America's democracy as well-informed and responsible citizens, whose collective actions may…

In the fall of 2008, the Federal Reserve Banks of Atlanta and St. Louis began a systematic evaluation of their economic and personal finance educational outreach programs. Both banks were interested in developing tools to assess the success of their existing economic and financial education programs. However, before any assessment could begin, a…

Many textbooks define economics as the social science that studies how people make choices when faced with scarcity; or how a society decides what to produce, how to produce, and for whom to produce. Regardless of the definition, students' economic understanding is fundamental to their financial well-being and their ability to build successful…

This article documents trends in enrollment in undergraduate economics programs in Mexico in 1970-2007 and discusses the characteristics of the programs--particularly the typical curriculum and graduation requirements--and the entry of graduates into the job market. Recent data show a pattern in enrollment rates surprisingly similar to those of…

Economics departments are faced with growing demands to document what their graduates have learned on completion of the undergraduate major. The results of a national survey of economics department chairs in the United States reveal that nearly two-thirds of the departments have a formal assessment plan. There is substantial agreement on the most…

Undergraduate students are often interested in and benefit greatly from applications of economic principles. Historical novels drawn from real-world situations can engage students with economic concepts in new ways and provide a useful tool to help enhance instruction. In this article, the authors discuss the use of historical novels generally in…

Underrepresentation of women in economics is documented in many studies. Investigation of its sources at the undergraduate level is examined through students' decisions to persist in economics, either beyond an introductory course or in their major choices. The authors add to the literature by analyzing students' decisions to take their first…

The two forms of natural monopoly regulation that are typically discussed in intermediate microeconomics textbooks are marginal cost pricing and average cost pricing (rate-of-return regulation). However, within the last 20 years, price-cap regulation has largely replaced rate-of-return regulation because of the former's potential to generate more…