IDEAS home Printed from https://ideas.repec.org/a/taf/jeduce/v44y2013i2p129-141.html
   My bibliography  Save this article

Instituting a Monetary Economy in a Semester-Long Macroeconomics Course

Author

Listed:
  • Victor J. Valcarcel

Abstract

The author provides a general model to incentivize student involvement in an economics course on an ongoing basis. Rather than presenting students with a discrete number of diverse experiments to illustrate different economic concepts, he opts for the adoption of a single experiment that lives for the duration of the semester. This approach provides the flexibility to illustrate a substantial number of concepts while forgoing some of the more in-depth analysis typically afforded by more traditional one-day experiments. By instituting an experimental unit of currency that takes on value throughout the semester, many concepts related, but not exclusive, to income, redistribution, intertemporal substitution, and banking can be reinforced with minimal loss of lecture time due to setup and rule exposition.

Suggested Citation

  • Victor J. Valcarcel, 2013. "Instituting a Monetary Economy in a Semester-Long Macroeconomics Course," The Journal of Economic Education, Taylor & Francis Journals, vol. 44(2), pages 129-141, June.
    • Handle: RePEc:taf:jeduce:v:44:y:2013:i:2:p:129-141
    DOI: 10.1080/00220485.2013.770337
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/00220485.2013.770337
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/00220485.2013.770337?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. William E. Becker & Michael Watts, 2001. "Teaching Economics at the Start of the 21st Century: Still Chalk-and-Talk," American Economic Review, American Economic Association, vol. 91(2), pages 446-451, May.
    2. William E. Becker, 2000. "Teaching Economics in the 21st Century," Journal of Economic Perspectives, American Economic Association, vol. 14(1), pages 109-119, Winter.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Paul Dalziel, 2011. "Schumpeter's 'Vision' and the Teaching of Principles of Economics to Resource Students," International Review of Economic Education, Economics Network, University of Bristol, vol. 10(2), pages 63-74.
    2. Klein, Alina F. & Klein, Rudolf F., 2023. "Principles of Economics, the Survivor Edition," Applied Economics Teaching Resources (AETR), Agricultural and Applied Economics Association, vol. 5(2), March.
    3. KimMarie McGoldrick, 2010. "Advancing the Scholarship of Teaching and Learning in Economics," Chapters, in: Michael K. Salemi & William B. Walstad (ed.), Teaching Innovations in Economics, chapter 3, Edward Elgar Publishing.
    4. Abhijit Sharma, 2015. "Use of Bloomberg Professional in support of finance and economics teaching," Cogent Economics & Finance, Taylor & Francis Journals, vol. 3(1), pages 1115618-111, December.
    5. William B. Walstad & William E. Becker, 2003. "The Instructional Use and Teaching Preparation of Graduate Students in U.S. Ph.D.-Granting Economics Departments," American Economic Review, American Economic Association, vol. 93(2), pages 449-454, May.
    6. Costas Siriopoulos & Gerasimos Pomonis, 2009. "Selecting Strategies to Foster Economists' Critical Thinking Skills: A Quantile Regression Approach," International Review of Economic Education, Economics Network, University of Bristol, vol. 8(1), pages 106-131.
    7. Ken Rebeck & Carlos Asarta, 2011. "Methods of Assessment in the College Economics Course," Chapters, in: Gail M. Hoyt & KimMarie McGoldrick (ed.), International Handbook on Teaching and Learning Economics, chapter 16, Edward Elgar Publishing.
    8. Green, Tom L., 2013. "Teaching (un)sustainability? University sustainability commitments and student experiences of introductory economics," Ecological Economics, Elsevier, vol. 94(C), pages 135-142.
    9. MINCIU Mihaela & DUMITRU Daniela, 2023. "Critical Thinking Stance in Teaching Business and Economics. Explorative Qualitative Study in Higher Education," European Journal of Interdisciplinary Studies, Bucharest Economic Academy, issue 01, March.
    10. J.R. Clark & Joshua C. Hall & Ashley S. Harrison, 2017. "The Relative Value of AER P&P Economic Education Papers," Working Papers 17-23, Department of Economics, West Virginia University.
    11. David Zetland & Carlo Russo & Navin Yavapolkul, 2010. "Teaching Economic Principles: Algebra, Graph or Both?," The American Economist, Sage Publications, vol. 55(1), pages 123-131, May.
    12. Urban, Janina & Rommel, Florian, 2020. "German economics: Its current form and content," Working Paper Serie des Instituts für Ökonomie 56, Hochschule für Gesellschaftsgestaltung (HfGG), Institut für Ökonomie.
    13. Anne Boring, 2015. "Gender Biases in student evaluations of teachers," Documents de Travail de l'OFCE 2015-13, Observatoire Francais des Conjonctures Economiques (OFCE).
    14. Lourdes Espinoza & Carlos Gustavo Machicado & Katia Makhlouf, 2007. "La Enseñanza de Economía en Bolivia y Chile," Development Research Working Paper Series 10/2007, Institute for Advanced Development Studies.
    15. Amanda Mandzik, 2023. "All I Want for Christmas is an A on My Econ Final: A Holiday-Themed Review Class," Journal of Economics Teaching, Journal of Economics Teaching, vol. 8(2), pages 72-86, May.
    16. Lester Hadsell & Raymond MacDermott, 2012. "Faculty Perceptions of Grades: Results from a National Survey of Economics Faculty," International Review of Economic Education, Economics Network, University of Bristol, vol. 11(1), pages 16-35.
    17. Martin Kniepert, 2014. "Die (Neue) Institutionenökonomik als Ansatz für einen erweiterten, offeneren Zugang zur Volkswirtschaftslehre," Working Papers 552014, University of Natural Resources and Life Sciences, Vienna, Department of Economics and Social Sciences, Institute for Sustainable Economic Development.
    18. Alan B. Krueger, 2001. "Teaching the Minimum Wage in Econ 101 in Light of the New Economics of the Minimum Wage," The Journal of Economic Education, Taylor & Francis Journals, vol. 32(3), pages 243-258, January.
    19. William B. Walstad & William E. Becker, 2010. "Preparing Graduate Students in Economics for Teaching: Survey Findings and Recommendations," The Journal of Economic Education, Taylor & Francis Journals, vol. 41(2), pages 202-210, March.
    20. Ahlstrom, Laura J. & Harter, Cynthia & Asarta, Carlos J., 2023. "Teaching methods and materials in undergraduate economics courses: School, instructor, and department effects," International Review of Economics Education, Elsevier, vol. 44(C).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:jeduce:v:44:y:2013:i:2:p:129-141. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/VECE20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.