Maintains that most economics textbooks continue to repeat past mistakes concerning returns to scale and economies of scale under assumptions of constant and nonconstant input prices. Provides an adaptation for a calculus-based intermediate microeconomics class that demonstrates the pointwise relationship between returns to scale and economies of…

Illustrates how a computer software symbolic-processing program can be easily incorporated into an advanced undergraduate microeconomics course. Symbolic-processing programs are relatively sophisticated software packages that combine numeric, symbolic, and graphic computation in a single unified computing environment. Includes examples of…

This book helps students make essential connections between economics and civics/government by asking the philosophical questions of government's role in the economy and the relationship between economic freedom and political freedom. The set of lessons include: (1) "How Has the Constitution Shaped the Economic System in the United States?"; (2)…

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)

The consequences in terms of misclassifications of students that would occur by replacing the constructed-response portion of the Advanced Placement (AP) examinations in economics with more multiple-choice items were studied. The 1991 AP examinations in micro- and macroeconomics were used. Computer simulation found that a small but statistically…

Identifies four microeconomic concepts students should learn before entering the study of intermediate macroeconomics. Included are relative prices, general versus partial equilibrium, constrained optimization, and the nature of production concepts. Recommends making intermediate microeconomics a prerequisite for intermediate macroeconomics. (MJP)

Reconsiders Uriel Spiegel's analysis of the Giffen phenomenon, a utility function that yields an inferior good with an upward-sloping demand curve. Extends this to include similar utility functions that yield inferiority. Discusses the earlier work of related theorists including Liebhafsky, Vandermeulen, and Wold and Jureen. (MJP)

Reexamines Spiegel's analysis of the Giffen phenomenon, a utility function that yields an inferior good with an upward-sloping demand curve and incorporates Christian Weber's criticism into the model. Disagrees with Weber on some points but agrees that as income decreases the likelihood of the Giffen product decreases. (MJP)

Uses a graphical analysis to determine the importance of quantity for consumer welfare and to examine the manner in which private and social welfare diverge in a monopoly. Criticizes the opinion that technology adoption by a monopoly always assumes a uniformly downward shift in the marginal cost curve. (MJP)

Describes an economics class experiment where students ranked the quality of baked pies according to limited information. The limited sets of information included brand name and packaging only, price only, advertising only, word-of-mouth, and taste test. Discusses signals of quality and consumer decisions. (MJP)

This resource book is intended for a one-semester model course for high school economics for eleventh- and twelfth-grade students. The seven units in the book are linked to content ordinarily found in microeconomic and macroeconomic courses. Each unit contains 5 to 11 lessons, an author's note to the teacher, an author's letter to the students,…

This student activities book is intended for a model one-semester course for high school economics for eleventh- and twelfth-grade students. The seven units in the book are linked to content ordinarily found in microeconomic and macroeconomic courses. Each unit contains 5 to 11 lessons, an author's note to the students and classroom instructional…

Criticizes the standard presentation, in introductory economics, of the burden of a tax as an application of elasticity. Argues that using the slopes of a supply and demand curve is the simplest and easiest way to clarify tax incidence. Includes three graphs illustrating this approach. (MJP)

Discusses the career of Rendigs Fels from his first academic appointment in 1948 until the present. Concludes that Fels is one of a small number of respected economists who have made interest, involvement, and research in the teaching of economics an important and respectable part of the profession. (CFR)

Maintains that a proper understanding of the Augustin Cournot model of imperfect competition and strategic interactions among firms in various contexts is essential for economics education. Although most models rely on complicated algebra, this one requires nothing more than high school level geometry. Includes a graphical analysis. (MJP)