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What is the opportunity cost of attending class? part of Teaching Methods:Interactive Lecture Demonstrations:Examples
Students calculate the opportunity cost of attending one class. The exercise reinforces learning about implicit, explicit and total opportunity costs.
The US economy during your lifetime part of Teaching Methods:Interactive Lecture Demonstrations:Examples
Students predict the best graphical representation of US real GDP/capita during the last twenty years, choosing from graphs showing: cyclical decline, cyclical change with no net change, cyclical increase, or erratic wide fluctuations. Using actual US data, students graph real GDP/capita to find out the actual pattern: a rising series with periodic dips, not a flat series, a falling series, or a highly erratic series as students often predict. Students then reflect on why this pattern is often misunderstood and why it may not fully describe the well-being of the US population.
Principles of Economics: understanding opportunity cost, comparative advantage, and absolute advantage part of Teaching Methods:Just in Time Teaching:Examples
In principles of economics students many times have trouble understanding the concept of opportunity cost, connecting opportunity cost to comparative advantage, and differentiating between absolute advantage and comparative advantage. This activity allows the instructor to detect whether a large number of students exhibit any of these misconceptions, and then focus on the most problematic concepts in class.
Economic Statistics: Hypothesis Testing part of Teaching Methods:Just in Time Teaching:Examples
This activity helps a student recognize the consequences of Type I and Type II errors in hypothesis testing.
Replicating Results of Famous Empirical Papers part of Teaching Methods:Undergraduate Research:Examples
Using economic theory to predict outcomes: Applying stylized facts from the literature to the Solow Model part of Teaching Methods:Undergraduate Research:Examples
Students often do not understand how to derive a theoretical model and how to manipulate it to get predictions. The emphasis of this pedagocial example is to show students how they can manipulate the Solow model to predict outcomes. Student develop a set of "stylized facts" from a literature search. They then used those stylized facts to manipulate the model to answer a complex real-world question whose answer is ambigous.
Teaching Local Economic Development Using Problem-Based Service Learning part of Teaching Methods:Service Learning:Examples
University Economic Impact Analysis: Applying microeconomic tools and concepts part of Teaching Methods:Service Learning:Examples
Teaching Economics:Student-based Instruction part of Teaching Methods:Service Learning:Examples
College students in an intermediate micro-economic theory class teach economic concepts to elementary school students.
Service Learning Research part of Teaching Methods:Service Learning:Examples
Students will produce a report for a local non-profit organization in which they will evaluate the effectiveness of vocational training in improving the labor market opportunities for non-college bound youths. The report will be used by the organization when applying for grants.