The present research tested whether incidental exposure to money affects people's endorsement of social systems that legitimize social inequality. We found that subtle reminders of the concept of money, relative to nonmoney concepts, led participants to endorse more strongly the existing social system in the United States in general (Experiment 1)…

We taught 2 children with visual impairments to select a coin from an array using tactile cues after hearing its name and then to select a coin after hearing its value. Following the acquisition of these listener (receptive language) skills, we then observed the emergence of speaker (expressive language) skills without direct instruction.…

Populism is a relevant issue in the teaching of American history. Historically, the standard interpretation of Populism perceived the movement as favorable. How educators handle conflicting views of Populism is important in engaging students in critical thinking. This article describes the history of American Populism, explains how Populism can be…

The author provides a general model to incentivize student involvement in an economics course on an ongoing basis. Rather than presenting students with a discrete number of diverse experiments to illustrate different economic concepts, he opts for the adoption of a single experiment that lives for the duration of the semester. This approach…

With powerful influence on the people, taboos should be noticed with keen awareness and handled with cautious respect for international visitors in China, a traditional country in its process of modernization, if successful cross-cultural communication is to be achieved. In the ever changing and integrating world, Chinese taboos are never free…

In this article, we examine the use of a new binary integer programming (BIP) model to detect arbitrage opportunities in currency exchanges. This model showcases an excellent application of mathematics to the real world. The concepts involved are easily accessible to undergraduate students with basic knowledge in Operations Research. Through this…

The lessons learned from the recent financial crisis should significantly reshape the economics profession's thinking, including, importantly, what we teach our students. Five such lessons are that we live in a monetary economy and therefore aggregate demand and policies that affect aggregate demand are determinants of real economic outcomes; that…

Debates over how to promote a healthy economy are pervasive once more, after decades when it seemed such debates had been put to rest. The market meltdown of 2008 ended a long string of years in which monetary policy reigned supreme. Monetary policy is the regulation of money and the banking system to influence economic variables. Its adherents,…

The authors developed a classroom experiment on exchange rate determination appropriate for undergraduate courses in macroeconomics and international economics. In the experiment, students represent citizens from different countries and need to obtain currency to purchase goods. By participating in an auction to buy currency, students gain a…

For the open economy, the workhorse model in intermediate textbooks still is the Mundell-Fleming model, which basically extends the investment and savings, liquidity preference and money supply (IS-LM) model to open economy problems. The authors present a simple New Keynesian model of the open economy that introduces open economy considerations…

The author offers innovative approaches to 3 topics that are typically only briefly mentioned (if at all) in money and banking courses. The first topic is a Treasury bill auction experiment in which students have an opportunity to participate directly. The results from a class of 14 money and banking students are used to explain how an instructor…

This article attempts to make some sense of what is happening to the role of money and the economy in our lives and in our communities. It shows that the picture provided by the discipline of economics makes no sense at all. Corporations and national economies have become wealth extractors as opposed to wealth creators. Only about 3% of daily…

Debt limits, interest coverage ratios, one-off balanced budget requirements, pay-as-you-go rules, and tax and expenditure limits are among the most important fiscal rules for constraining intertemporal transfers. There is considerable evidence that the least costly and most effective of such rules are those that focus directly on the rate of…

Floating exchange rates have not lived up to all expectations, but neither have they performed as badly as some critics have suggested. Examined are the impact of floating rates on balance of payments adjustment, domestic economic policy, and inflation and the claim that floating rates have displayed excessive fluctuations. (Author/RM)

Discusses the translation (conversion) of financial statements of a foreign subsidiary into the currency of the parent company. (JOW)