This classroom exercise illustrates the Tiebout (1956) hypothesis that residential sorting across multiple jurisdictions leads to a more efficient allocation of local public goods. The exercise places students with heterogeneous preferences over a public good into a single classroom community. A simple voting mechanism determines the level of…

This book highlights and examines basic economic concepts as they relate to consumer, business, social, and personal choices. Students are shown connections between their classroom learning and their real-world experiences in budgeting, career planning, credit management, and housing. The set of 15 lessons include: (1) "Decision Making: Scarcity,…

Describes a pit-market experiment using the work of Charles A. Holt to illustrate to students the real world relevance of the competitive equilibrium concept. Explains how to set up and conduct a pit-market experiment, discusses features of the data, and provides accompanying materials. (JEH)

Addresses issues related to the ways in which the Internet is affecting supply and demand, competition, property rights, information costs, and economies of scale. Suggests ways to incorporate these topics into the study of microeconomics. (Contains 19 references.) (SK)

Notes that using spreadsheets to teach microeconomics principles enables learning by doing in the exploration of basic concepts. Introduction of increasingly complex topics leads to exploration of theory and managerial decision making. (SK)

Observes that the envelope theorem, a fundamental tool in duality analysis, is still a puzzle to many people. Argues that the essence of a solution proposed by Paul Samuelson (1947) is also unclear to many people, but can be communicated with a simple cost diagram. Presents and explains the proposed diagram. (DSK)

Updates a study of the coverage of entrepreneurship contained in principles of economics textbooks originally carried out in the mid-1980s. Analyzes coverage of the same topics in 14 popular introductory texts. Concludes that entrepreneurship still has not worked its way into economics-principles texts. (DSK)

Computer simulation of the Alonso household location model can enrich the intermediate microeconomics course. The model includes decisions on location, land space, and other goods and is a valuable complement to the usual textbook model of household consumption. It has three decision variables, one of which is a "bad," and one good's price is a…

Enrolments in undergraduate economics programs have been falling constantly since the early 1990s. This trend coincides with the increasing popularity of business and management degrees. Consequently, the major activity of many, if not most economics departments and schools in Australia is service teaching of introductory economics to first year…

Presents a brief classroom demonstration illustrating Bertrand price undercutting by outlining the experiment, discussing the game theory solution and experiences, and presenting related literatures. States that students remember the lesson because of the significant amounts of money each could have earned. (JEH)

Investigates differences across UK universities in 1993 life-sciences students' degree performance using individual-level data from the universities' Statistical Record. Analyzes differences across universities by specifying and estimating a subject-specific production function. Even after including a wide range of controls for the quality of…

A structural view of the microeconomics of education as a logically consistent whole is proposed, and research done on the subject since around 1960 is described. It is argued that the microeconomic theory of education could become an instrument for determination of appropriate forms of behavior in the classroom. (SLD)

Estimations of enrollment age and schooling duration for Tanzanian children revealed different patterns for boys and girls. Although girls have lower levels of education, they enroll earlier, either because of lower returns to preschool experience for girls or parental desire to prepare them for the marriage market as soon as possible. (SK)

In Australia, the authors learned it is common to ask one or more conference participants to summarize and assess the conference in a final "closing" session. They found the experience of serving as "closers" strangely similar to what students are asked to do in providing an overall assessment of a course or instructor at the…

This paper investigates which students delay taking a required developmental mathematics course and the impact of delay on student performance in introductory microeconomics. Analysis of a sample of 1462 students at a large Midwestern university revealed that, although developmental-level mathematics students did not reach the same level of…