Institutional economics remains a viable alternative approach to economics. It stresses power, technology, and a holistic and evolutionary approach while critiquing the neoclassical approach. General features of institutional economics are examined, and the work of institutionalists in specific areas is discussed. (RM)

Keynes's explanation of both the rationale underlying downwardly sticky money wages and the consequences this phenomenon has for macroeconomic theory are reviewed. An aggregate supply curve appropriate to today's economy is then interpreted. (Author/RM)

An externality is an activity on the part of one party that enters directly into another party's utility or production function. The distinction between genuine and pecuniary externalities should not be based on their differing impacts on relative prices, but rather on their impacts on third parties' utility and production functions. (Author/RM)

Neither short-run nor long-run price stability is a necessary state of affairs under a gold standard. This conclusion results from an examination of possible differential rates of productivity growth in the gold and non-gold producing sectors. (Author/RM)

Textbook authors, presenting aggregate demand-aggregate supply (AD-AS), are admonished to set their houses in order. The traditional Keynesian cross model should continue to be used as a pedagogical device. A version superior to the AD-AS models found in many texts is presented. (Author/RM)

The causes and consequences of the lag in productivity growth in the United States are examined. The productivity gap urgently requires careful attention by public policy. No trivial or costless remedies exist. (Author/RM)

Describes one professor's experience in researching the use of multimedia tools for teaching principles of economics. Provides a list of resources consulted, including universities and colleges, books, software, laserdiscs and VHS tapes, Web sites, and journal sources. Found the students generally to be receptive to the introduction of new tools…