The author devises a simple way of incorporating the financial sector into a growth model that is pedagogically useful. Financial innovation raises the efficiency of financial intermediation by increasing the variety of financial products and services, resulting in improved matching of the needs of individual savers with those of firms raising…

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…

This paper provides evidence indicating that experimental games can trigger a double dividend. The dividend, measured in terms of enhanced performance, accrues to both the students and to the instructor. The evidence for the instructor's dividend is obtained from evaluation questionnaires administered in an introductory microeconomics course at…

Computer aided instruction (CAI) encompasses a broad range of computer technologies that supplement the classroom learning environment and can dramatically increase a student's access to information. Criticism of CAI generally focuses on two issues: it lacks an adequate foundation in educational theory and the software is difficult to implement…

The author derives the probability that price discrimination improves social welfare, using a simple model of third-degree price discrimination assuming two independent linear demands. The probability that price discrimination raises social welfare increases as the preferences or incomes of consumer groups become more heterogeneous. He derives the…

There is a well-documented, growing shortage of rehabilitation counseling professionals in the public sector. Using microeconomics principles, a theoretical model is offered to account for the personnel shortage and propose potential solutions to recruit and retain rehabilitation counselors in the public sector. Suggestions for rehabilitation…

Interest in using classroom experiments to teach economics is increasing whereas empirical evidence on how experiments affect learning is limited and mixed. The author used a pretest-posttest control-group design to test whether classroom experiments and grade incentives that reward performance in experiments affect learning of introductory…

The author combines the supply and demand model of taxes with a Cournot model of bribe takers to develop a simple and useful framework for understanding the effect of corruption on economic activity. There are many examples of corruption in both developed and developing countries. Because corruption decreases the level of economic activity and…

This article describes the current relationship between management education in Colombia and the efforts of the management program at Universidad Pontificia Bolivariana (UPB) in Medellin to reduce local poverty. The article uses the metaphor of "the bubble" to illustrate how social class, family socialization, and the current UPB…

The author describes a classroom experiment that illustrates the welfare effects of allocating a good on a first-come, first-served basis. In the first round, each student must decide how long to wait in an imaginary line for candy, without knowing how much will be distributed or how long others are willing to wait. In making this decision, a…

Recent research has demonstrated that active learning techniques improve student comprehension and retention of abstract economic ideas such as rent seeking. Instructors can reinforce the concept of rent seeking with a classroom game, particularly one involving real money. The authors improve upon a game first introduced by Goeree and Holt (1999)…

The authors bring together two research streams in the literature that examine separately the effectiveness of using experiments in the principles classroom and the relationship between different personality types and student achievement. Using a sample of 255 principles of microeconomics students, 48 of whom were enrolled in sections that relied…

This paper evaluates the effectiveness of concept maps as a teaching and learning tool in university level Principles of Microeconomics courses in Australia and USA. Concept mapping was incorporated in the teaching material in both courses at different countries and, at the end of the semester, the students completed a survey regarding the use,…

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…

The in house development of an online assessment tool, OASIS, has provided a unique opportunity to research the use of online assessment in teaching and learning across the university. The developing relationship between IT staff, educational designers and academics serves as a model for integrated and evolving management systems which demonstrate…