The paper presents a classroom experiment designed to improve undergraduate students' understanding of how banks create money. This concept is important to Macroeconomics and Money and Banking courses, yet students frequently struggle with it, largely due to the non-physical nature of deposits...

The trading of permits has been a significant innovation in controlling pollution in the past two decades. Ando and Ramirez Harrington (2006) developed an informative classroom exercise demonstrating the effectiveness of a tradable permits market. We provide three additional pedagogical tools...

Co-operative Entrepreneurship provides an informative practical guide to the nature and process of establishing a co-operative enterprise. Drawing on best practice and international guidelines, this text is suitable for students engaged in new venture creation projects, as well as graduates...

This timely collection of essays draws together the research of fourteen international scholars to examine how the co-operative business model functions in practice within diverse cultural and social contexts. It includes case studies of co-operatives and credit unions operating in different...

This paper discusses various cases, stories, and examples involving the use of statistics that can add excitement to an introductory statistics course. Teaching statistics as a mathematics course does not work for students interested in careers in business and accounting. What is needed, the...

This paper proposes a framework to analyse performance on multiple choice questions with the focus on linguistic factors. Item Response Theory (IRT) is deployed to estimate ability and question difficulty levels. A logistic regression model is used to detect Differential Item Functioning...

Apart from the main misconception of money creation, that is, the exogenous-endogenous money creation debate, there exist a number of lesser misconceptions, including that banks are 'fully lent' when they have no excess reserves, that money creation begins with a new bank deposit, and that a...

Founded on the money multiplier, the imminent demise of which is not overstated, there exists a profound misconception: that money creation begins with a new deposit. In many cases the source of the new deposit is not specified, and somehow the recipient bank acquires reserves. In other cases...

The paper shows how a dynamic neoclassical AS-AD can be derived and used to describe business cycles and growth trends to undergraduates. Derived within the Ramsey-Cass-Koopmans (RCK) model, the AS-AD is the stationary equilibrium of the deterministic dynamic general equilibrium framework. The...

The endogenous-exogenous money debate is a futile one. Exogenous money creation, based on the money multiplier, is not a money creation process. Rather, it is a monetary policy model, but in it money is still created endogenously: bank loans (and foreign asset accumulation by banks) concurrently...