A Rational Expectations Experiment.

Peterson, Norris A.

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Peer reviewed

ERIC Number: EJ414036

Record Type: Journal

Publication Date: 1990

Pages: N/A

Abstractor: N/A

ISBN: N/A

ISSN: ISSN-0022-0485

EISSN: N/A

A Rational Expectations Experiment.

Peterson, Norris A.

Journal of Economic Education, v21 n1 p73-78 Win 1990

Presents a simple classroom simulation of the Lucas supply curve mechanism with rational expectations. Concludes that the exercise has proved very useful as an introduction to the concepts of rational and adaptive expectations, the Lucas supply curve, the natural rate hypothesis, and random supply shocks. (DB)

Descriptors: Class Activities, Economic Factors, Economics Education, Higher Education, Learning Activities, Models, Simulation, Supply and Demand, Teaching Methods

Publication Type: Journal Articles; Guides - Classroom - Teacher

Education Level: N/A

Audience: Teachers; Practitioners

Language: English

Sponsor: N/A

Authoring Institution: N/A

Grant or Contract Numbers: N/A