Argues that the textbook presentation of the concept of natural monopolies has changed little since the early 1960s. Suggests that most economics textbooks have ignored the issue of economies of scale versus fixed costs. Notes that educators often discuss economies of scale without explaining why certain industries enjoy greater scale economies…

Discusses issues related to short-run marginal cost and long-run marginal cost in economic theory. Asserts that few economics textbooks deal with important aspects of this concept. Includes four figures illustrating the approach suggested by the authors. (CFR)

Examines the case of bilateral monopoly in the context of joint profit-maximizing solutions. Asserts that, although bilateral monopoly is sometimes viewed as a theoretical model with few real-world applications, the elements of negotiations it contains form the basis for contracts between input sellers and input buyers. (CFR)

Discusses the concept of "Giffen goods" as it applies to price theory in economics instruction. Provides a graphic presentation and analysis of Giffen goods and behavior. Includes examples of Giffen behavior that can be used to illustrate the concept. (CFR)

Discusses whether or not the economic concept of the long run is no longer feasible because of computer-assisted manufacturing and other technological advances. Concludes that the terms "long run" and "short run" still serve as logical constructs in formal economic analysis. (CFR)

Maintains that it is generally assumed that rent control redistributes wealth from landlords to consumers of housing. Presents data and graphs to illustrate how rent control can benefit landlords and increase housing availability. Asserts that this exercise is effective for students studying microeconomic theory. (CFR)

Maintains that although Canada's private schools attempt to reproduce dominant cultural ideology, meritocracy and recruitment have created paradoxical effects. Academic competition results in fewer private school graduates being admitted to top universities. Further studies reveal no correlation between private school and financial success. (MJP)

Describes a class where students learn microeconomics from the perspective of a new business owner. This approach requires reordering the typical sequence of material and introducing a market simulation exercise. Includes a sample business plan, course outline, and data tables. (MJP)

Reports on the transformation of higher economic education in Bulgaria as part of the overall change in the society of that country. Describes the slow, painful process of shifting from a command economy to a free market-oriented system. Conservatism and fragmentation have hindered academic reform. (MJP)

Reports on a three-week seminar taught by U.S. economists at Moscow State University (Russia) in June 1992. Discusses the history of the pre-1992 economics curriculum and the emerging curriculum in modern Russia. Includes three tables illustrating changing curriculum content in economics over the past two decades. (CFR)

Utilizes two-dimensional price and output graphs to demonstrate the way that the price-level elasticity of aggregate demand affects alternative monetary policy rules designed to cope with random aggregate supply shocks. Includes graphs illustrating price-level, real Gross Domestic Product (GDP), nominal GDP, and nominal money supply targeting.…

Argues that political equality and democracy are attainable only through the distribution of access to political resources and the willingness to use them. Discusses the broad philosophical and sociological components that contribute to a system marked by advantage and inequalities, as well as opportunities for opposition and resistance. (MJP)

Maintains that most graduate-level economics textbooks rarely mention the need for consumers to be above their minimum wealth position as a condition for market equilibrium. Argues that this omission leaves students with a mistaken sense about the range of circumstances under which market equilibria can exist. (MJP)

Charts the changes in student opinions, regarding the fairness of pricing and profits, from beginning to end of a first-year college economics course. Students answered morally ambiguous questions involving product markets and prices. Student belief in the fairness of free market pricing increased dramatically. (MJP)

Describes a computer software program that allows students, working independently and interactively with the computer, to select alternative market conditions and/or policies and view the results numerically as well as graphically. Discusses options and models provided by the software as well as classroom applications. (MJP)