This work is focused on identifying a circular pull production control system (PPCS) and make emphasis on the presence of a stability attribute. It is an introductory paper to an extended study of macroeconomic financial stability in a physically open but systemic closed system. Previous work...

Giffen goods have long been a minor embarrassment to courses in microeconomic theory. The standard approach has been to dismiss Giffen goods as a theoretical curiosity without empirical content. This note points out that the underlying theory is itself seriously flawed.

This paper considers the methodological problem which the Giffen paradox poses for the economist intent on establishing the empirical status of microeconomic theory. We then turn to more general considerations of the falsifiability of economic theory based on discussions by Adolf Grünbaum....

Lessons From a General Education Oriented Principles of Economics Course Principles of Economics, as it is typically taught at the college level, is a predominantly lecture-based course using one of a variety of standard, voluminous texts, where students are exposed to a daunting array of...

Este es un curso de economía política enfocado desde el punto de vista del administrador, pretendiendo mostrar los conceptos básicos del tema que son relevantes para la administración de la empresa. De esta manera, se utiliza la grafica y las matemáticas solo como una manera de aclarar los...

In this paper we explore the possibility, heretofore unexplored in the marketing literature, that firms “invest funds” in their pricing processes. This builds on some of the recent economic work on the costs of price adjustment. To do this we undertook a two-year, cross- disciplinary,...

Using Writing to Enhance Student Learning in Undergraduate Economics. Traditionally, principles of economics has been taught predominantly as a lecture class. Recent literature on pedagogy suggests that students learn more from an "active learning" approach, which engages students in ways that...

This note describes an experiment, which is an extension of the experiment proposed by Levy and Bergen (1993). The experiment is designed to simulate an environment where something that is very similar to fiat money (i.e., is homogenous, durable, portable, storable, divisible, has no intrinsic...

Standardized test (TUCE) scores for students enrolled in a Social Issues course were compared to those of students in traditional Principles of Economics courses within the framework of a standard educational production function. The production function was estimated using Heckman's two-step...

We describe a multiproduct barter trading experiment in which students exchange real goods in an open market based on their own personal preference. The experiment is designed for simulating a pure exchange market in order to demonstrate the role of money and its functions in real economies by...