Abstract
We evaluate a sample of 25 economics instructional videos publicly available on YouTube on the topic of price elasticity of demand for their instructional effectiveness, correctness of their economics content, and their video production values. To judge instructional effectiveness, we compared the teaching in the videos to the principles of multimedia instructional design that foster meaningful learning from educational psychologist Richard E. Mayer (2009). Our results showed that the instruction in these videos were somewhat effective in minimizing extraneous cognitive processing but did not do well in meeting the modality and multimedia principles. We also found a wide variety of explanations for how to calculate the elasticity and some incorrect explanations. We offer recommendations for the improvement of video-based instruction of economics.
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