Undergraduate students are often interested in and benefit greatly from applications of economic principles. Historical novels drawn from real-world situations can engage students with economic concepts in new ways and provide a useful tool to help enhance instruction. In this article, the authors discuss the use of historical novels generally in…

The two forms of natural monopoly regulation that are typically discussed in intermediate microeconomics textbooks are marginal cost pricing and average cost pricing (rate-of-return regulation). However, within the last 20 years, price-cap regulation has largely replaced rate-of-return regulation because of the former's potential to generate more…

The existence of an inverse relationship between wage levels and regional unemployment rates, commonly referred to as the wage curve, is well established in the economic literature and was described by Card (1995) as being "close to an empirical law of economics". This microeconomic wage-unemployment relationship, first identified by…

This paper examines how student effort, consistency, motivation, and marginal learning, influence student grades in an online course. We use data from eleven Microeconomics courses taught online for a total of 212 students. Our findings show that consistency, or less time variation, is a statistically significant explanatory variable, whereas…

In this dissertation, I study economics textbook markets as an example of durable goods monopoly. Textbooks are protected by copyrights, and from a student's point of view, different textbooks are not good substitutes because students wish to use the textbook adopted by their instructors. Therefore sellers have market power. Textbooks can be…

Interactive technologies make classroom experience more engaging and enjoyable. Students get much more involved in class discussions in the presence of such technologies and tend to learn more through student-student and student-instructor interactions. The purpose of this paper is to investigate whether student response systems (i.e., clickers)…

The author shows how a quick approximation of the Lorenz curve's Gini coefficient can be calculated empirically using numerical data presented in cumulative income quintiles. When the technique here was used to estimate 621 income quintile/Gini coefficient observations from the Deninger and Squire/World Bank data set, this approach performed…

In goods markets, an equilibrium price balances demand and supply. In a financial market, an equilibrium price also aggregates people's information to reveal the true value of a financial security. Although the underlying idea of informationally efficient markets is one of the centerpieces of capital market theory, students often have difficulties…

Although many students have some knowledge of patents, it can be difficult for them to understand the components of an innovator's decision-making process. Key issues, such as whether to patent or to use trade secrecy, how broad a scope to claim, and what to do in the event of patent infringement, can be difficult to grasp from a standard lecture.…

In the literature of higher education cost function study, enough knowledge is created in the area of economy scale in the context of developed countries but the knowledge of input demand is lacking. On the other hand, empirical knowledge in the context of developing countries is very meagre. The paper fills up the knowledge gap, estimating a…

The authors use a relatively simple diagram accompanied by mathematical analysis to compare two pricing strategies: price-quantity packages and a two-part tariff. This is done both from the monopolist's point of view and from the welfare point of view. The authors show that in the case of two consumer types, the price-quantity packages strategy…

The authors present a classroom experiment designed to illustrate key concepts of third-degree price discrimination. By participating as buyers and sellers, students actively learn (1) how group pricing differs from uniform pricing, (2) how resale between buyers limits a seller's ability to price discriminate, and (3) how preventing price…

Web-conferencing software was chosen for course delivery to provide flexible options for students at a two-year technical college. Students used technology to access a live, synchronous microeconomics course over the internet instead of a traditional face-to-face lecture. This investigation studied the impact of implementing web-conferencing…

This study compares student perceptions, learning behaviours and success in online and face-to-face versions of a Principles of Microeconomics course. It follows a Scholarship of Teaching and Learning (SoTL) approach by using a cycle of empirical analysis, reflection and action to improve the learning experience for students. The online course…

The author makes a pedagogical contribution to optimal income taxation. Using a very simple model adapted from George A. Akerlof (1978), he demonstrates a key result in the approach to public economics and welfare economics pioneered by Nobel laureate James Mirrlees. He shows how incomplete information, in addition to the need to preserve…