Principles Of Economics Course Research Articles

Does It Spark Joy? Reworking Macroeconomics in a Principles of Economics Course

Macroeconomics has a tough job in Principles of Economics. Instructors must not only fit the microeconomics part, but a lot of definitional macroeconomic material that’s prerequisite for even the most basic macroeconomic model. Coming from microeconomics—where students do a lot with supply and demand—this is a bad change of pace. Moreover, instructors usually prolong the microeconomics section more than needed, so the macroeconomics part ends up rushed and students believe that the end-all of the discipline is, at best, a collection of boring concepts that don’t go anywhere. Can we do something to correct this disservice to the discipline? I say yes. In this paper, I discuss solutions from the point of view of a macroeconomist in a (mostly) applied microeconomics department.

Using Netflix Original Series to teach economics: A diversity and inclusion approach

Using pop culture to illustrate economics concepts is a growing trend among economics instructors. This paper embraces this trend and contributes by exploring the opportunities that using video clips from Netflix Originals series provides to economics instructors. We created lecture plans based on 12 Netflix Originals series allowing instructors to illustrate more than 25 economics concepts presented in principles of economics courses. The shows listed in this paper are from Africa, the Middle East, Asia, Europe, Australia, and the Americas. Therefore, this paper's lecture plans allow students to learn a wide range of concepts using series from various parts of the world. Besides geographical diversity, our resources enable instructors to expose students to multiple forms of diversity, such as languages, cultural, ethnic, and sexual identities.

Using backward design to create a more diverse, equitable, and inclusive principles course

The economics profession has been working to become more open, inclusive, and welcoming. The introductory principles of economics courses provide a unique opportunity to teach students of the wider university the value of the field of economics. It is in this setting that instructors’ interactions with students show them a welcoming and diverse profession or confirm that economics provides a toolbox useful only to some. Using a careful backward course design and attention to creating a diverse, equitable, and inclusive environment, the following article’s author presents a principles of microeconomics course with the potential to illustrate to undergraduate students the value of a degree in economics for all students.

Telling My Story: Applying Storytelling to Complex Economic Data.

Our experience with business and economic students indicates limited understanding and confidence when working with macroeconomic data such as unemployment rate, labor force participation rate, business cycles, and price indexes. To close this gap, the authors have developed and evaluated a college classroom experiential activity defined as the Storytelling Project (SP) conducted in nine principles of economics courses in a mid-size private university over a period of two years during the COVID-19 pandemic. In the SP, students wrote personal stories that assisted them in connecting with their audience and then visually presented complex economic data. A workbook supplemented the SP with learning objectives, tasks, multiple examples of data analysis, storytelling techniques, and videos. Participants completed a self-efficacy and attitude survey of perceived cognition, confidence, and motivation and took an assessment to evaluate cognitive competencies. The survey and assessment results were compared against students who did not complete the SP. Our results indicate that the SP and the workbook are effective experiential learning activities that improve data analysis and communication skills among college students. Students show more confidence and motivation in macroeconomics and data analysis at the end of the semester. Knowledge or cognitive competency is ranked higher among those completing the SP.

The Impact of Web 2.0 Tools on Economics Education

Economics education has been overly paired with traditional "chalk and talk" teaching methods. However, educators must shift the conventional teaching approach to more innovative teaching methods that allow students to engage more effectively in the learning process. This study attempts to evaluate the impact of Web 2.0 tools on students’ interaction and engagement in learning Principles of Economics course. The data on the lecturer's observation, together with the engagement and expectations of forty-four students in the Principles of Economic class were used in this study. This study adopted Gibbs Reflective Model in gathering and analyzing the data. The findings indicate that the application of Web 2.0 has increased the students’ engagement and performance in learning Principle of Economics and making teaching and learning more effective and interesting compared to traditional teaching method. The results imply that current Web 2.0 tools can be successfully integrated into Economics education.

A short-run Keynesian model of the COVID-19 recession for Econ 101

Using a simple short-run macroeconomic model of aggregate supply–aggregate demand, an intuitive explanation is offered for the COVID-19 recession in the US in 2020 — one that is appropriate for an economic principles course. The model illustrates the aggregate supply and aggregate demand shocks, with shifts in the short-run aggregate supply and aggregate demand curves, and accounts for the changes in real national output and the aggregate price level over the relevant economic quarters of 2020.

Improving student outcomes in large introductory courses

Large introductory courses may be cost-effective for universities, but present many drawbacks, including student absenteeism, high failure rates, and reduced learning. We undertook a re-design of our Principles of Economics courses in order to improve the learning outcomes for collaborative, dependent, and independent learners, by introducing three changes: mandatory tutorials with active learning activities; consistency in course instructors; and online quizzes. We administered a survey to students before and after the intervention to evaluate the impact of these changes on three learning outcomes: final grades, final exam scores, and self-reported learning. Our results show that the intervention positively impacted all learning outcomes, primarily due to increased tutorial attendance. Encouragingly, the strongest improvement occurred for students at the low end of the grade distribution.

Addressing Study Skills, Learning Theory and Critical Thinking Skills in Principles of Economics Courses

The Wall Street Journal recently noted that United States “employers say too many schools aren’t teaching students the skills they need—or even basic critical thinking”. This paper 1) motives the need for economics and other college educators to i) address study habits in the classroom, (ii) explain the importance of critical thinking skills, and (iii) define what critical thinking is to introductory students; and 2) provides an overview of how the authors accomplish this in their classrooms. The authors encourage readers to borrow this information to create a study skills and critical thinking module for their own students when teaching principles courses.

Obstacles as Building Blocks

Although individuals generally do not wish to be expected to do good work with bad tools, there are some activities for which there are advantages to having to face certain types of obstacles. One of these is mental processing, an important facet of cognitive psychology. This study extends the work of cognitive psychologists by introducing font disfluency, or the use of difficult-to-read font or typeface, to the exam-taking phase of economics principles courses. Difference-in-means tests indicate that students completing exams that were formatted in the difficult-to-read font scored as many as 9.6 points higher than their counterparts who completed exams formatted in the traditional font. On the other hand, regression analysis controlling for student demographics and human capital failed to produce a statistically significant result. The authors believe, however, that this result is likely due to the omission of student effort in the regression specification. As such, further research on the impact of font disfluency on exam performance is clearly warranted.

Research on the Intelligent Teaching Model of Principles of Economics Course under the New Media

With the rapid development of the internet, smart classroom has become the research interest of modern-day educational informatization. With Tiktok, WeChat, QQ, and other new media, the intelligent teaching model of “new media + education” has been derived. The research subject in this study is the economic and management undergraduate course, Principles of Economics. In regard to that, it is expounded based on the new media and an intelligent teaching model is designed in line with the development of colleges and universities in the new era to change the plight of the traditional classroom teaching model, stimulate learners’ enthusiasm and interest in learning, as well as improve the teaching effect.

Transitioning to a team-based learning principles course

Team-based learning is a powerful collaborative learning technique that can be used effectively in a principles of economics course, although its implementation can be costly for instructors and students alike. The author suggests a series of strategies that can result in a much smoother transition to a fully collaborative classroom. The author also highlights some unexpected benefits of team-based learning.

The Impact of Web 2.0 Tools on Economics Education

Economics education has been overly paired with traditional "chalk and talk" teaching methods. However, educators must shift the conventional teaching approach to more innovative teaching methods that allow students to engage more effectively in the learning process. This study attempts to evaluate the impact of Web 2.0 tools on students’ interaction and engagement in learning Principles of Economics course. The data on the lecturer's observation, together with the engagement and expectations of forty-four students in the Principles of Economic class were used in this study. This study adopted Gibbs Reflective Model in gathering and analyzing the data. The findings indicate that the application of Web 2.0 has increased the students’ engagement and performance in learning Principle of Economics and making teaching and learning more effective and interesting compared to traditional teaching method. The results imply that current Web 2.0 tools can be successfully integrated into Economics education.

Intercampus Grading Performance among Principles of Economics Examinees of IAAS, Tribhuvan University, Nepal

In order to familiarize question-specific grading comparison of a board examination, the study analyzed primary score of 447 first semester examinees to the Principles of Economics course in five grading: fail, pass, second division, first division, and distinction rank for each question. Relationships in grading performance were analyzed by using the chi-square test, independent t-test, and ordered logit regression. Among the examinees, 12.98%, 38.48%, 34.0%, and 8.28% secured distinction, first, second, and pass division, respectively and 94% got success with their average of 25.48 score. Compared to boys, the girls outperformed in terms of distinction, first division, and success rate. Fairly superior grading performance was analyzed for the constituent campus examinees over private to community campuses. Significant variations in grading analyzed due to gender, inter-campus and affiliation-type; however, no ethnicity effect was assessed in overall grading. Both coefficient and odds ratio of ordered logit regression determined the likelihood of positive contribution in grade upgrading. Marginal effect of grading scale=3 likely increased grades by 60%, 20%, 24%, 22%, 18%, 22%,23%, 20%, 22%, 20%, 21%, 19% if those examinees solve first to last question, respectively. Estimated predicting probability of each examinee were closer to grading performance. The Examination Board is suggested using Bloom’s Taxonomy in questionset preparation and moderation, introduce cumulative grade point average, and coach potential examiners preceding to question setting and answer-book evaluation. All colleges are suggested to follow quality assurance and accreditation system in order to improve academic environment or establish, at least, advisory support to the poor-scored students.

Test Format and Calculator Use in the Testing of Basic Math Skills for Principles of Economics: Experimental Evidence

Results from an experiment in Fall 2013 of 902 incoming students at this university are reported. In this experiment, after students were given a basic math assessment to ensure they had the necessary math skills to take a principles of economics course, they were randomly allocated to a treatment or control group to test whether there was a significant impact of test format, calculator use, and calculator type on students’ scores. The interaction of calculator use/type and test format was also tested. The results from this experiment suggest that each treatment had a significant positive impact on students’ assessment scores, with much variation depending on the type of question asked and the level of performance. JEL Classifications: A22, C23

A Pareto-Improving Way to Teach Principles of Economics: Evidence from the University of Toronto

University of Toronto undergraduates can choose between conventional and literacy-targeted (LT) principles of economics courses. We compare demographics and performance in subsequent courses for 13,000 students over 11 years and find that LT courses attract a greater percentage of female and domestic students; conditional on meeting grade thresholds, LT students do just as well in intermediate theory and statistics courses as conventional principles students; women do as well or better than men in intermediate theory and statistics courses. With appropriately chosen thresholds, departments offering LT courses can preserve subsequent disciplinary rigor and address underrepresentation of women and minorities.

Spatial dynamics in the classroom: Does seating choice matter?

This study examines peer and seating effects on overall class performance and exams from a spatial perspective for principles of economics courses at a major Land Grand institution in the Midwest. Both spatial and student specific factors were identified that impact performance. The spatial relationships in the classroom were explored to determine if students’ peers and seating choice affect their performance. Endogenous spatial peer effects were only found to impact performance on the first exam. Other findings found gender, being an economics major, sitting in the back of the class, and the year the class was taken all impacted overall exam and class performance.

Economics Students Performance: Does Language Matter?

The purpose of this study is to identify language influence on students' performance. This study involves 55 undergraduate student who are taking the Economic Principles course at the Sultan Idris Education University. The specific objectives of the study are; to identify the choice of language for the examination, to determine students' exam performance in both languages, and lastly to measure mean score difference by language and by gender. The data are analyzed by using descriptive statistics, paired-sample-test, and one way ANOVA. Comparisons between the mean scores show students perform better in the exam conducted in Malay language compared to exams in English. The result of the paired-sample-test provides indication that there is a significant difference between the two mean scores. The one-way ANOVA test has recorded significant results in the exam conducted in English only. The findings provide two main implications. Firstly, there is a significant difference in students’ performance when the exam is conducted in Malay and in English languages. It is highly recommended the exams are prepared in dual languages (English and Malay) in order to maximize the opportunity of the good and the weak students in English to achieve their highest score in the examination. Secondly, the results also reflect that the level of English language proficiency of the students at this institution is not at competitive level, or is weaker than their level of understanding in Malay language. In relating to this, the institution may want to reconsider the structure of the English program provided for the weak. This is a correction program so that in the long run the English language program and courses at the university succeeded in producing quality students in English proficiency; equivalent to their skills in Malay language domination.

Do Economics Courses Improve Students' Analytical Skills? A Difference-in-Difference Estimation

To the best of our knowledge, this is the first study that provides robust empirical support to the claim that exposure to economics training improves students' analytical skills and problem-solving abilities. We rely on Frederick's (2005) Cognitive Reflection Test (CRT) to measure these skills and abilities. The original CRT served as a pre-test, and a CRT-clone was administered as a post-test in a number of classes across various majors at a comprehensive, medium-sized university. Difference-in-difference estimation is used to assess the difference in CRT score improvements between economics and non-economics classes. Our main result shows that students in economics classes improve their analytical skills during the semester by between 7 and 11 percentage points more than those in non-economics classes. We also find that most of this effect is attributable to the economics principles courses. The results remain robust as we vary the number of control variables, the size of the sample and the estimation method, and are nearly always statistically significant at either 1% or 5% level.

Do economics courses improve students’ analytical skills? A Difference-in-Difference estimation

To the best of our knowledge, this is the first study that provides robust empirical support to the claim that exposure to economics training improves students’ analytical skills and problem-solving abilities. We rely on Frederick's (2005) Cognitive Reflection Test (CRT) to measure these skills and abilities. The original CRT served as a pre-test, and a CRT-clone was administered as a post-test in a number of classes across various majors at a comprehensive, medium-sized university. Difference-in-difference estimation is used to assess the difference in CRT score improvements between economics and non-economics classes. Our main result shows that students in economics classes improve their analytical skills during the semester by between 7 and 11 percentage points more than those in non-economics classes. We also find that most of this effect is attributable to the economics principles courses. The results remain robust as we vary the number of control variables, the size of the sample and the estimation method, and are nearly always statistically significant at either 1% or 5% level.

Early intervention in college classes and improved student outcomes

This research investigates the effectiveness of an early academic intervention in Principles of Economics courses at a large public university. After the end of the fourth week of classes, students who fell below a 70% threshold on a performance measure, or had an attendance rate below 75%, were referred to the university's Student Success Center for additional academic support. A referral consisted of students being informed of their status and being given optional assistance in course specific skills through tutoring, as well as training in general skills like time management and study skills. Using a regression discontinuity framework at the referral threshold, we find that the performance intervention improved student scores on common questions on the final exam by 6.5 to 7.5 percentage points for students at or near the performance threshold. The gains are particularly large for students who entered college with below average math placement scores. These results indicate that low-cost light-touch interventions may significantly affect student academic performance.