Understanding the Impact of (Fiscal and Monetary) Policy: Using the Send-A-Problem Technique
This material was originally created for
Starting Point: Teaching Economics
and is replicated here as part of the SERC Pedagogic Service.
and is replicated here as part of the SERC Pedagogic Service.
Summary
The class is divided into groups of 4-5 students. Each group is provided a (different) problem affixed to the outside of an envelope. The group tries to solve the problem until time is called. They place their answer in the envelope and pass it to the next group. The second group attempts to answer the problem without looking at the first solution. When time is called, the second group's solution is added to the envelope and it is passed on to the third group. This final group opens the envelope and evaluates both solutions, compiling a final solution. The final solution is reported to the group.
Learning Goals
Learning Objective: Developing problem solving skills
Describe current economic conditions using graphical tools.
Distinguishing between alternative policy options.
Applying a policy option to given economic conditions.
Evaluating the effectiveness of the chosen policy option.
Hansen's Proficiency: Displaying command of existing knowledge.
Content Goals:
Identify economic problems with provided state of the economy.
Choose between fiscal and monetary policy to rectify the economic problems.
Evaluate the policy in terms of positive and potential negative impacts.
Describe current economic conditions using graphical tools.
Distinguishing between alternative policy options.
Applying a policy option to given economic conditions.
Evaluating the effectiveness of the chosen policy option.
Hansen's Proficiency: Displaying command of existing knowledge.
Content Goals:
Identify economic problems with provided state of the economy.
Choose between fiscal and monetary policy to rectify the economic problems.
Evaluate the policy in terms of positive and potential negative impacts.
Context for Use
This exercise was developed for a Principles of Macroeconomics course. It appears late in the semester after students have been exposed to models of economic adjustment and fiscal and monetary policy.
While the class size for this application was only 30, with minor adaptation the exercise can be replicated in larger classes. The key to adapting this to a large class environment is to provide clear instructions on the process of sending the problem across groups so that one group does not inadvertently receive a duplicate problem. Using specific roles for group members will help keep students on task.
The exercise typically takes a total of 50 minutes: 5 minutes to introduce the exercise and set the stage for expectations; 15 minutes for the first round; 10 minutes each for the second and third rounds; and 10 minutes for reporting out as a class.
While the class size for this application was only 30, with minor adaptation the exercise can be replicated in larger classes. The key to adapting this to a large class environment is to provide clear instructions on the process of sending the problem across groups so that one group does not inadvertently receive a duplicate problem. Using specific roles for group members will help keep students on task.
The exercise typically takes a total of 50 minutes: 5 minutes to introduce the exercise and set the stage for expectations; 15 minutes for the first round; 10 minutes each for the second and third rounds; and 10 minutes for reporting out as a class.
Description and Teaching Materials
Teaching Notes and Tips
Providing a set of written (or displayed) instructions that are accessible during the exercise and going over these instructions, providing an opportunity for students to ask for clarification, will cut down on process oriented questions during the exercise. Instructions can be provided a class in advance in order to prepare students or at the start of the exercise. Regardless of the timing, some key components to include in an instruction sheet are:
It is desirable to avoid telling students that they will shift their focus in the final round of the exercise. This shift will re-energize groups at a critical junction in the exercise.
The reporting out process can be facilitated in a number of ways, depending on the available time.
Students can be asked to summarize their solution to the problem, being provided an overhead sheet to present their graphical component of the solution. Since all students will have seen each example (3 examples, 3 rounds), each student should be able to follow along with the summary presentation. A version of this reporting out process that is both visually oriented and simultaneous among groups utilizes the gallery walk technique.
Alternatively, the instructor can ask if there are any remaining questions associated with example 1 (then example 2, and then for the final example). If no student responds with a question, the instructor can follow up with a question of their own such as "What is the key to solving this problem and suggesting a specific policy solution?" or "What were the steps that you used in developing your answer?" In this way the instructor keeps the discussion focused while evaluating the comprehension level of the class.
- instructor expectations
- time allotments for each round
- description of roles for each student
- brief description of the process by which passing of envelopes will be facilitated
It is desirable to avoid telling students that they will shift their focus in the final round of the exercise. This shift will re-energize groups at a critical junction in the exercise.
The reporting out process can be facilitated in a number of ways, depending on the available time.
Students can be asked to summarize their solution to the problem, being provided an overhead sheet to present their graphical component of the solution. Since all students will have seen each example (3 examples, 3 rounds), each student should be able to follow along with the summary presentation. A version of this reporting out process that is both visually oriented and simultaneous among groups utilizes the gallery walk technique.
Alternatively, the instructor can ask if there are any remaining questions associated with example 1 (then example 2, and then for the final example). If no student responds with a question, the instructor can follow up with a question of their own such as "What is the key to solving this problem and suggesting a specific policy solution?" or "What were the steps that you used in developing your answer?" In this way the instructor keeps the discussion focused while evaluating the comprehension level of the class.
Assessment
Assessment can come at multiple points in this exercise.
Assessment in advance of the exercise: In order to encourage individual accountability, students are asked to complete a similar exercise as their "ticket" to participate. Students are told that their work during the cooperative learning exercise will contribute to their grade and those who do not complete the exercise will be at a serious disadvantage. Grouping those who have not completed the exercise in advance reinforces this component. (Typically these groups are less successful in completing the exercise in the allotted time and learn the value of preparation for the next cooperative learning exercise.)
Assessment of the exercise: At the end of the exercise, all envelopes are turned in. The instructor has a number of different grading options. Each group response to each exercise can be graded or the final round exercise can be graded. In either case, the grading burden is less than it would be if each student turned in a separate answer.
Assessment post exercise: In order to evaluate the extent to which learning lasts, there are a number of options. Students can be given a follow up problem set which includes exercises to be completed independently. Also, subsequent quizzes and exams can provide formal evaluation of learning opportunties.
Assessment in advance of the exercise: In order to encourage individual accountability, students are asked to complete a similar exercise as their "ticket" to participate. Students are told that their work during the cooperative learning exercise will contribute to their grade and those who do not complete the exercise will be at a serious disadvantage. Grouping those who have not completed the exercise in advance reinforces this component. (Typically these groups are less successful in completing the exercise in the allotted time and learn the value of preparation for the next cooperative learning exercise.)
Assessment of the exercise: At the end of the exercise, all envelopes are turned in. The instructor has a number of different grading options. Each group response to each exercise can be graded or the final round exercise can be graded. In either case, the grading burden is less than it would be if each student turned in a separate answer.
Assessment post exercise: In order to evaluate the extent to which learning lasts, there are a number of options. Students can be given a follow up problem set which includes exercises to be completed independently. Also, subsequent quizzes and exams can provide formal evaluation of learning opportunties.