Describes an economics class experiment where students ranked the quality of baked pies according to limited information. The limited sets of information included brand name and packaging only, price only, advertising only, word-of-mouth, and taste test. Discusses signals of quality and consumer decisions. (MJP)

Illustrates how, using introductory-level microeconomic models, an instructor can show various economic theorists' explanations of short run employment and output fluctuations. Identifies the competing schools of thought as old Keynesian, new Keynesian, and new Classical (which includes real business cycle theorists). Includes illustrative graphs…