Describes a two-stage experiment where students play the role of farmers who must select one of four markets (corn, wheat, rice, or soybeans). Demonstrates the process leading to equilibrium in a multimarket setting. Includes an appendix with the farmer profit chart and homework exercises. (CMK)

Argues for a unified consideration of how markets fail based on how an efficiency rule (marginal benefits to society equal or exceed marginal costs to society) is violated. States that repetition of the efficiency decision rule framework reinforces basic concepts and emphasizes the normative foundation underlying the analysis of market failure.…

Because most countries in the western hemisphere have rejected authoritarian governments and economic policies for more democratic governments and freer economies, schools have a responsibility to help maintain democracy by teaching their students to take an active role in deciding both their political and economic futures. Healthy democracies…

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)