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Learning by Doing: Formulating Macroeconomic Policy under Various Forms of Capitalism

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  • Charles L. Vehorn
  • Craig A. Waggaman

Abstract

The purpose of this paper is to describe two different pedagogical experiments employed in a course on global capitalism. First, the course incorporated interdisciplinary team teaching (an economist and a political scientist). Second, the course created a team project, which allowed the students to actively address the varieties of capitalism in a policy setting. Specifically, students experienced the political and economic role played by the International Monetary Fund (IMF) on the world stage by participating in a simulated IMF Executive Board meeting. The course was unique in the sense that it had dual (student and faculty) teams. We found that team teaching offered us the opportunity to go beyond our specific disciplines and present to students a world that is more complex than any one discipline can capture. Students told us that this active learning experience gave them an engaging opportunity to think about the perspective of others.

Suggested Citation

  • Charles L. Vehorn & Craig A. Waggaman, 2014. "Learning by Doing: Formulating Macroeconomic Policy under Various Forms of Capitalism," Journal for Economic Educators, Middle Tennessee State University, Business and Economic Research Center, vol. 14(1), pages 33-43, Fall.
    • Handle: RePEc:mts:jrnlee:v:14:y:2014:i:1:p:33-43
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    File URL: http://capone.mtsu.edu/jee/2014/P33toP43-MS312.pdf
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    References listed on IDEAS

    as
    1. Bruce H. Wade & Jack H. Stone, 2010. "Overcoming Disciplinary and Institutional Barriers: An Interdisciplinary Course in Economic and Sociological Perspectives on Health Issues," The Journal of Economic Education, Taylor & Francis Journals, vol. 41(1), pages 71-84, January.
    2. Jill L. Caviglia-Harris, 2003. "Introducing Undergraduates to Economics in an Interdisciplinary Setting," The Journal of Economic Education, Taylor & Francis Journals, vol. 34(3), pages 195-203, January.
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    More about this item

    Keywords

    macroeconomic policy; team teaching; interdisciplinary course;
    All these keywords.

    JEL classification:

    • A22 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Undergraduate
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General

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