According to Kennedy (2000), the difference between real and nominal interest rates constitutes the most important concept taught in macroeconomics courses. The classroom exercise described in this article demonstrates one way in which real and nominal interest rates differ, namely in their...

This paper examines the hypothesis that the quality of instruction influences observed mean test scores through its effects on both individual student performance and on class attrition rates. Since these effects are expected to display opposite signs, the level and dispersion of these scores...

This paper explores factors that contribute to growth in undergraduate knowledge of economics. An endogenous growth empirical model was applied to estimate students’ knowledge growth. Sources of knowledge growth were extracted to identify each factor’s contribution. Analysis indicated that...

This paper examines the way in which principles of economics textbooks treat the concept of capital. A number of textbooks are reviewed and are shown to exhibit consistencies and inconsistencies in the use of the word "capital" in different contexts within the main body of textbooks and in...

In a world dominated by large economies with flexible exchange rates and predictable market forces, quantities of currencies bought and sold would warrant very little attention. Models illustrating and explaining foreign exchange markets would focus almost exclusively on prices, i.e. exchange...

This paper uses a data set consisting of more than 2,000 quiz scores from an introductory statistics class and compares the actual quiz scores with students’ post-test predictions of quiz scores. The main findings are as follows: (1) Predicted scores are higher, on average, than actual scores,...

This paper examines and extends the important pedagogical issue of whether using classroom based experiments to illustrate concepts such as supply and demand increases students’ knowledge and understanding of economics. Previous literature has only considered this in a single course whereas...

In this paper, the topic of student evaluation of instruction has been addressed with a new approach. Student behavior in reporting on evaluation instruments was analyzed using a model based on utility and opportunity cost. This model carried a set of hypotheses that represent a large group of...

The purpose of this study is to show that a Collaborative Learning Lab (CLL) component can be accommodated in a standard three-credit introductory microeconomics class without significantly reducing the course content. It also shows that adding an in-class CLL can be an effective alternative...

Since the 1990s, increasing amounts of resources have been devoted to teaching economics in grades K – 12. This raises the question of how these increased resources have impacted students entering college economics courses. This paper attempts to measure the impact high school economics...