Teaching consumer theory to business students: an integrative approach
Economists teaching principles of microeconomics courses in business schools face a difficult pedagogical dilemma. Because the vast majority of students in these courses are business majors or minors who will not study economics beyond the principles level, these students need a different set of skills than what is taught in a traditional (liberal arts) setting, which is focused primarily towards economics majors and/or minors. In particular, business students need relatively less emphasis on the mechanics of neoclassical economic theory and relatively more emphasis on how economic tools and concepts form the basis for (and are subsequently integrated into) other business fields, including (but not limited to) marketing, management and finance. This paper presents a case study illustrating how instructors can more effectively teach principles of microeconomics when the majority of students in the course are business majors and/or minors. We use consumer theory as an example. Our goal is to not only describe why principles of microeconomics courses fail to adequately introduce and explain utility and demand theory to this cohort of students, but also to demonstrate how course content can be altered such that learning outcomes are enhanced.
|Date of creation:||2009|
|Publication status:||Published in Perspectives on Economic Education Research 1.6(2010): pp. 15-47|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
More information through EDIRC
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.:
- Sam Allgood & William B. Walstad, 1999. "What Do College Seniors Know about Economics?," American Economic Review, American Economic Association, vol. 89(2), pages 350-354, May.
- J. Wilson Mixon, Jr. & Soumaya M. Tohamy, 1999. "The Heckscher-Ohlin Model with variable input coefficients in spreadsheets," Computers in Higher Education Economics Review, Economics Network, University of Bristol, vol. 13(2), pages 4-6.
- Miles Cahill & George Kosicki, 2000. "Exploring Economic Models Using Excel," Southern Economic Journal, Southern Economic Association, vol. 66(3), pages 770-792, January.
- Arthur Caplan, 2004. "Seeing is Believing: Simulating Resource-Extraction Problems with GAMS IDE and Microsoft Excel in an Intermediate-Level Natural-Resource Economics Course," Working Papers 2004-10, Utah State University, Department of Economics.
- John J. Siegfried, 2000. "How Many College Students Are Exposed to Economics?," The Journal of Economic Education, Taylor & Francis Journals, vol. 31(2), pages 202-204, June.
- Eric Nævdal, 2003. "Solving Continuous-Time Optimal-Control Problems with a Spreadsheet," The Journal of Economic Education, Taylor & Francis Journals, vol. 34(2), pages 99-122, January.
- M. Ruth & K. Donaghy & P. Kirshen, 2006. "Introduction," Chapters, in: Regional Climate Change and Variability, chapter 1 Edward Elgar Publishing.
- Charles A. Holt, 1996. "Classroom Games: Trading in a Pit Market," Journal of Economic Perspectives, American Economic Association, vol. 10(1), pages 193-203, Winter.
When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:37249. 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: (Joachim Winter)
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.