In this article, the author discusses the educational frozen price game she developed to teach the basic economic principle of price allocation. In addition to demonstrating the advantages of price allocation, the game also illustrates such concepts as opportunity costs, cost benefit comparisons, and the trade-off between efficiency and equity.…

Recent research has demonstrated that active learning techniques improve student comprehension and retention of abstract economic ideas such as rent seeking. Instructors can reinforce the concept of rent seeking with a classroom game, particularly one involving real money. The authors improve upon a game first introduced by Goeree and Holt (1999)…

There is a significant variation in the managerial economics course in terms of the prerequisites, contents and delivery in the MBA programs of AACSB [Association to Advance Collegiate Schools of Business] institutions. In order to get detailed information on these aspects, we conducted a survey of 275 AACSB institutions and reported the results.…

The authors bring together two research streams in the literature that examine separately the effectiveness of using experiments in the principles classroom and the relationship between different personality types and student achievement. Using a sample of 255 principles of microeconomics students, 48 of whom were enrolled in sections that relied…

The author proposes an alternative to the traditional definition of the gains from international trade and, hence, an alternative defense of free trade. Rather than showing that free trade allows a country to consume more of all final goods, the author's approach shows that free trade allows a country to consume the same basket of final goods that…

Although recent research strongly suggests that L. Frank Baum did not write "The Wonderful Wizard of Oz" as a monetary or political allegory, the Populist-parable interpretation of his book remains a tremendous teaching tool in economics classes. The author offers some background on the rise and fall of the Populist interpretation, in recognition…

In this article, we discuss the development of online courses in higher education in terms of the in- structional quality and economic costs. In our conceptual analysis, we point out problems in developing online courses with sufficient quality due to limited funds being made available for online course development. Moreover, economic costs exist…

The author discusses needed improvements in the university training of Russian economists. (Author/RM)

In elementary economics courses students are often introduced to the basic concepts of macroeconomics through very simplified static models, and the concept of a macroeconomic equilibrium is generally explained with the help of an aggregate demand/aggregate supply (AD/AS) model and an income/expenditure model (via the Keynesian cross diagram).…

Designed to help students in grades 9-12 understand economic terms, fundamental economic principles of the free enterprise system, and economic forces that influence activities in everyone's life, this teacher's guide provides over 50 reproducible activity sheets on the following topics: (1) scarcity and planning, (2) cost, (3) demand, (4) supply,…

The ideal course of high school economics provides a constant interplay between economic issues that are intrinsically exciting to many students and economic theory, that provides analytical tools. This is most easily accomplished using an inductive rather than deductive approach in teaching. (Author/JH)

The American and British experiences with economic education have seen many improvements in the past decades in the shift towards a total social science approach and experience-oriented learning. (KM)