Teaching Marginal Analysis: On the importance of emphasising the second-order condition
Students employ marginal analysis in investigating various problems regarding resource allocation. The majority of first-year students, however, seem to struggle in applying it to a firm's profit maximisation problem. Their confusion appears to stem from textbooks for introductory microeconomics courses oversimplifying some subtle points regarding the profit maximisation problem. This paper (1) points out how oversimplification may impede students' understanding, contrary to the instructors' pedagogical intent, and (2) suggests a complementary method to enhance their understanding of marginal analysis in the course of teaching a firm's profit maximisation problem.
Volume (Year): 5 (2006)
Issue (Month): 1 ()
|Contact details of provider:|| Postal: University of Bristol, BS8 1HH, United Kingdom|
Fax: +44(0)117 331 4396
Web page: http://www.economicsnetwork.ac.uk/iree
|Order Information:|| Email: |
When requesting a correction, please mention this item's handle: RePEc:che:ireepp:v:5:y:2006:i:1:p:46-59. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Martin Poulter)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.