Experiential Learning Based Discussion vs. Lecture Based Discussion: How to Estimate the Unemployment Rate
AbstractThis pedagogical method to estimate the unemployment rate is appropriate for an undergraduate course in macroeconomics. Class instructors can use the experiment to make many macroeconomic principles readily apparent to the unskilled reader. This experiment examines the dynamics of calculating the unemployment rate by means of an assessment instrument. Students can learn that the unemployment rate is calculated using estimates of the size of the labor force, which includes individuals who are both employed and unemployed. In addition, they discover that their estimated unemployment rate agrees with the estimates made by leading economic indices. Thus, by participating in the experiment, students better understand how to calculate the unemployment rate and how to understand published unemployment estimates.
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Bibliographic InfoArticle provided by Middle Tennessee State University, Business and Economic Research Center in its journal Journal for Economic Educators.
Volume (Year): 11 (2011)
Issue (Month): 2 (Fall)
Economic Experiment; Unemployment Rate;
Find related papers by JEL classification:
- A22 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Undergraduate
- C90 - Mathematical and Quantitative Methods - - Design of Experiments - - - General
- E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Mark Dickie, 2006. "Do Classroom Experiments Increase Learning in Introductory Microeconomics?," The Journal of Economic Education, Taylor & Francis Journals, vol. 37(3), pages 267-288, July.
- Charles A. Holt, 1999. "Teaching Economics with Classroom Experiments: A Symposium," Southern Economic Journal, Southern Economic Association, vol. 65(3), pages 603-610, January.
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