No matter the college, a class in the principles of microeconomics is likely to cover the discipline's greatest hits. The author attends three economics courses at three colleges, and finds three very different approaches. In this article, the author discusses three colleges' different approaches that shape learning in Econ 101.

This classroom experiment uses double oral auction credit markets to illustrate the role of banks as financial intermediaries. The experiment demonstrates how risk affects market interest rates in the presence of asymmetric information. It provides fodder for a discussion of the moral-hazard problem of deposit insurance and its impact on depositor…

This article describes a protocol the authors developed for teaching undergraduates to document their statistical analyses for empirical research projects so that their results are completely reproducible and verifiable. The protocol is guided by the principle that the documentation prepared to accompany an empirical research project should be…

The author of this article expands the background theory of voting to incorporate the undergraduate majors of members of Congress. Examining nine votes on trade across the 109th and 110th Congresses reveals that economics majors are the only category of college major to vote in favor of free trade in a predictable way. Controls for a variety of…

Poverty measurement is often controversial, but good public policy relies crucially on a broadly supported and understood poverty measure. In 2010, the U.S. Census Bureau announced it would begin regular reporting of a new supplemental poverty measure in October 2011. The present article provides background information for a student exercise…

Teacher competence is crucial for quality of teaching and learner achievement. Competency models and competence measurement are prevalent in domains such as the natural sciences and lacking in others. We conducted our research in the field of business and economics education by focusing on the accounting domain because it is key to a deep…

The assessment of university students' economic knowledge has become an increasingly important research area within and across countries. Particularly, the different influences of prior education, native language, and gender as some of the main prerequisites on students' economic knowledge have been highlighted since long. However, the findings…

The University of California, Berkeley sends more undergraduate students to economics PhD programs than any other public university. While this fact is surely a function of its size, there may be lessons from the Berkeley experience that others could adopt. To investigate why Berkeley generates so many economics PhD students, the author convened…

This classroom game illustrates the strengths and weaknesses of various regulatory frameworks aimed at internalizing negative externalities from pollution. Specifically, the game divides students into three groups--a government regulatory agency and two polluting firms--and allows them to work through a system of uniform command-and-control…

This classroom experiment introduces students to the notion of credit risk and expected return, by allowing them to trade on comparable corporate bond issues from two types of markets: investment-grade and high-yield markets. Investment-grade issues have a lower probability of default than high-yield issues and thus provide a lower yield.…

This study created an experimental design with which students can empirically assess their risk behavior with respect to exam grades within an expected utility framework. Specifically, the authors analyzed students' risk preferences associated with taking exams and earning a "risky" unknown grade versus not taking exams and instead…

In this paper, we trace selected strands of the German path to Education for Sustainable Development (ESD). We start by addressing pre-ESD research, and move to the concept of "Gestaltungskompetenz," the core concept of German ESD. The concept had to be realigned as to become more compatible with international research on learning…

The Great Recession raised questions of what and how macroeconomists teach at academic institutions around the globe, and what changes in the macroeconomics curriculum should be made. The authors conducted a survey of undergraduate macroeconomics instructors affiliated with colleges and universities in Europe and the United States at the end of…

The first step in teaching-to-understand economics is not teaching "the rules," but working with fundamental economic models from the outset. Many of the concepts in economics are illustrated through models. Students must: (1) be able to draw these models; (2) understand the assumptions of the models; and (3) use the models for analysis.…

In this article, the authors examine two ways that they use music (i.e., popular song lyrics) as an active learning technique in an undergraduate history of economic thought course. First, they use music to help students grasp the ideas of the great thinkers in economics and see their relevance today. Second, because they require students to read…