Discusses the conventional theory of free riding as discussed in economic textbooks. Argues the theory is empirically invalid, and reviews various scholarly viewpoints on this issue. Suggests alternatives to teaching current economic theory and argues that the concept of self-interest neglects the ethical issues in behavior. (NL)

Argues that, although most economics textbooks' explanations of imperfect competition may involve three to five models, the concept can be taught using a single, simple model. Uses several business/economic examples as illustrations. (DB)

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)

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)

Maintains that, although U.S. currency today is pure fiat money and not backed by gold or any other precious metal, students frequently ask, "But what about the gold at Fort Knox?" Describes what is really located at Fort Knox, why it is there, its implications for public policy. (CFR)

Discusses whether or not the economic concept of the long run is no longer feasible because of computer-assisted manufacturing and other technological advances. Concludes that the terms "long run" and "short run" still serve as logical constructs in formal economic analysis. (CFR)

Discusses the morality of teaching neoclassical theory as the only science of economics. Argues that the teaching of neoclassical theory violates moral principles unless each and every attribute of neoclassical theory is proven superior to corresponding attributes of competing theories. Criticizes neoclassical economics for teaching what rather…

Contends that it is widely believed that cheap labor in poor countries attracts foreign investors. Asserts that historical evidence indicates that past patterns of direct foreign investment in poor countries are inconsistent with the cheap-labor argument. Includes two figures and one table. (CFR)

Asserts that errors frequently are made in teaching about the second fundamental theorem of welfare economics. Describes how this issue usually is taught in undergraduate economics courses. Discusses how this interpretation contains errors and may hinder students' analysis of public policy regarding welfare systems. (CFR)

Maintains that university economics classes focus on mainstream economics and neglect ethical values. Reports on a study of 511 university students and 645 households in Zurich, Switzerland, and Berlin, Germany. Finds that students' evaluation of fairness in economic transactions remains stable during the period of time they participate in…

Asserts that classroom discussions of the fairness of the competitive market economy often deteriorate into polemical arguments. Presents a classroom simulation that enables students, regardless of their initial opinions to experience a variety of factors that influence wealth distribution in a market economy. (CFR)

Asserts that there are many advantages to working in a controlled laboratory environment when teaching market structures in economics. Introduces the concept of competitive market experiments, makes a renewed case for their use in economics instruction, and proposes an expanded format for reporting experimental results. (CFR)

This curriculum supplement has the following goals: (1) to promote an understanding of the assumptions and values that underlie the free market economy; (2) to articulate the relationship between our economy and contemporary global issues (i.e., environment, poverty, war); and (3) to provide examples of constructive ideas and projects that have…

Contends that, in recent years, the growth of experimental economics as a field of research has led to increased interest in using games and experiments in the economics classroom. Summarizes 12 reports on using experimental economics in the classroom and concludes that the method encourages student interest and learning. (CFR)

This handbook of economics reviews current economic activities in the United States, encouraging thinking and further study for the reader, rather than providing answers. The book provides a basic framework of knowledge in economics for a better informed citizenry to think clearly and objectively about economic issues in an attempt to combat…