A mini-economy is an ongoing classroom project in which elementary school students apply for jobs, receive simulated income, go shopping at the classroom store, and ultimately create their own businesses. This study uses design-based research methodology to find out what classroom practices emerge when the College, Career, and Civic Life Framework…

James Duesenberry's (1949) relative income hypothesis holds substantial empirical credibility, as well as a rich set of implications. Although present in the pages of leading economics journals, the hypothesis has become all but foreign to the blackboards of economics classrooms. To help reintegrate the concept into the undergraduate economics…

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…

Trade, the Internet, and product innovation have greatly enlarged the number of goods (N) in the consumer's choice set. The welfare effect of the growth in N has been extensively discussed in the specialized literature, but very little has filtered down to our textbook models of a competitive equilibrium. These focus on the Pareto-optimal…

The author establishes a property of supply for a competitive firm: Assuming differentiability of the production frontier, linearly independent price vectors have disjoint image sets under the supply mapping. This property supports the main results. First, the author drew a simple proof of McFadden's proposition that differentiability of the…

Principle of duality and numerical calculation of income and substitution effects under Hicksian Compensation are often left out of intermediate microeconomics courses because they require a rigorous calculus based analysis. But these topics are critically important for understanding consumer behavior. In this paper we use excel solver--a…

To help junior and senior high school students develop a better understanding of the United States' economy, this teacher's guide presents a series of learning activities centered around eight general themes. The topics (corresponding to the document's eight chapters) include both international and global economic issues as well as current…

The Audiovisual Materials Evaluation Committee prepared this report to guide elementary and secondary teachers in their selection of supplementary economic education audiovisual materials. It updates a 1969 publication by adding 107 items to the original guide. Materials included in this report: (1) contain elements of economic analysis--facts,…

Over 200 economics units submitted to the annual National Awards Program for Teaching Economics are described. Projects are arranged by academic level (primary, intermediate, junior high, senior high, and college and university) and subdivided by economic concept. Concepts covered include: economic wants, scarcity and choices, economic systems,…

Presents a simple diagrammatic technique for conveying the idea of Ricardian equivalence or policy neutrality in the provision of public goods. Includes several diagrams illustrating basic positions regarding the relationship between voluntary public contributions and taxation. Provides a brief explanation of the illustrated concepts. (MJP)