Many empirical economists say that the teaching of econometrics is unbalanced, and students are not well-prepared for the serious problems they will encounter with real data. Here, the author considers the problem of noisy data, which is present in most econometric studies, but receives far too little attention. Most econometric studies are done…

As a new sustainable alternative to linear economics, the circular economy (CE) is bound to be accompanied by the requirements of the existing production model, science and technology, as well as the public perception of CE. To expose the potential impact of higher education on CE transition, this study systematically reviewed the relevant…

Increasing access and inclusion for underrepresented minorities in economics has been a focus for many in the discipline. Despite this, researchers have largely left two avenues of investigation that may provide insight into this issue unexplored: the role of community colleges and the role of reclassification of economics programs. I address the…

In this article, the author describes the practice of active learning with Federal Reserve Economic Data (FRED). First, he outlines the broad intellectual context of learning with and about economic data, summarizing the recent scholarly contributions made to the topic. Next, the author presents several strategies for teaching with FRED in the…

University lecturers and coordinators of business and economics courses around the world are faced with the challenge that beginning students in these courses have heterogeneous entry conditions in terms of personal characteristics. This article focuses on the economic knowledge of German and Japanese beginning students in a business and economics…

Is opportunity cost an ambiguous and arbitrary concept or a simple, straightforward, and fruitful one? This reexamination of opportunity cost addresses this question, and shows that opportunity cost is an ambiguous concept because "two" definitions are in widespread use. One of the definitions is indeed simple, fruitful, and one that…

A considerable number of empirical studies argue that economics experts differ from other groups with respect to their public policy preferences and their behavior in certain social dilemmas. Economists are more likely to regard allocation via markets as "fair" than other people and they seem to adjust their behavior and expectations to…

"Cap and trade" is one of the most innovative policy options developed by environmental economists. By placing a cap on a social bad and allowing firms to buy and sell the right to generate it, policymakers combine government intervention with market-based incentives to improve welfare and internalize the externality. Such programs…

Purpose: To explore students' understandings of financial literacy and economics issues with an aim to inform future teaching designs. Design/methodology/approach: Phenomenography and variation theory has been used to analyze students' understanding of a concept found in both financial and economic contexts, namely "value." Findings:…

In "Opportunity Cost: A Reexamination," Professor Parkin contrasts forgone physical quantities with forgone values as measures of the opportunity cost of basic economic decisions. The impetus for his study stems from an experiment conducted by Ferraro and Taylor (2005), in which professional economists could not reach a consensus over…

Rod O'Donnell writes here that there is a wide and deep confusion in contemporary economics about the concept and role of opportunity cost (OC). O'Donnell states that his main grounds for making this claim are the muddled, variable, and sometimes conflicting treatments of OC in modern textbooks; the disturbing empirical results in surveys of both…

Teaching economic history requires the study of how to combine the economists' modeling and statistical methods with the methods used by historians and the other social sciences. It often involves learning how to search for quantitative data from a variety of sources and then building panel datasets that match the data found with existing…

This study charts the socio-geographic fragmentation of the economics discipline in the UK. It is revealed that the marriage of economics teaching and research is now limited to elite institutions located mainly in the south of the UK. None of the UK's new (post-1992) universities submitted to the Economics and Econometrics (E&E) unit of…

Knowledge of economics is becoming essential for citizens to adapt to economic life. Against this backdrop, the economic education of young people in the general education system has, in recent years, assumed greater importance at the level of education policy in many countries. For this reason, an empirical study was conducted in Austria, India…

Students' motivation is one of the key factors that determine their school success. It is closely linked to their attitudes toward individual school subjects. This research analyzes four crucial dimensions of students' subject-related attitudes (practical importance, difficulty, popularity and curriculum contents attractiveness) in the secondary…