Eastern Economic Journal最新文献

This study utilizes a classroom experiment to determine the effectiveness of the flipped classroom in a growth theory module of intermediate macroeconomics. We compare the performance of small section flipped groups to control groups at a liberal arts college. The treatment groups watched growth lecture videos before class, while the control groups followed a traditional lecture format. The results provide no evidence of superior performance by the treatment sections. They show that the main determinant of a student's performance is high school quality. The careful preparation to minimize differences across students from different socio-economic backgrounds is essential.

We discuss over one hundred interactive learning tools that we created and piloted in introductory open-education (OER) microeconomics classes. These interactive tools cover a wide range of microeconomics topics. They are highly randomized so that the presented scenario and correct answers are different on each usage of a tool, which not only provides students with unlimited practice attempts, but also significantly reduces the possibility of cheating by sharing answers. These tools can be uploaded into most learning management systems, and scores are automatically recorded. Student feedback is positive. The tools are available to others at no monetary cost at http://econreimagined.gsu.edu.

Standard assessments can give instructors reliable objective measures of student skills at the beginning and end of a term. We describe seven standard assessments that we have developed for commonly taught economics courses, and introduce a new website, econ-assessments.org, that allows instructors worldwide to set up any of our assessments for their students. Instructors get a link to their chosen assessment that can be shared with students, and students take the timed assessment when they follow the link. At the end of the test-taking period, instructors receive a report that summarizes performance in aggregate and by learning goal.

According to Putnam (2000) and Bourdieu (1986), social disparities may result in the formation of narrow social bonds that exacerbate existing social cleavages and impede collective action. Motivated by this insight, we examine the relationship between social disparities and social distancing during the pre-vaccine Covid pandemic in the US. Using a panel of weekly, county-level observations, we find that income, educational and racial disparities are associated with a statistically significant decrease in the social distancing. This result is robust to controls for a wide variety of socioeconomic variables, the Covid infection rate, and a measure of social capital.

With an emphasis on contributing to macroeconomic pedagogy, we examine the collateral multiplier by comparing it to the traditional money multiplier in a simplified framework of traditional banking and shadow banking in which government bonds are the core assets. While the money multiplier is a measure of the ability of the banking system to intermediate sovereign debt by creating deposits, the collateral multiplier is a measure of the shadow banking system's ability to intermediate sovereign debt by creating shadow money. It also measures the degree of reuse of sovereign debt as collateral. In this setup, the collateral multiplier is defined as the ratio between dealer banks' matched book repo activity relative to their trading book. Using the New York Fed's Primary Dealer Statistics data, we empirically estimate the collateral multiplier for US Treasury repo collateral. Our model and empirical results shed light on the transmission mechanisms of monetary policy channeled through shadow banks and on the US Treasuries market turmoil induced by COVID-19 in March 2020.

This paper presents the rationale and structure for a data-centered capstone project that provides an engaging and effective learning experience for students. Groups of students both select topics and self-direct research. Students are responsible for collecting, analyzing, and presenting data in both written and verbal forms. The project cultivates the ability to work as a team, communicate effectively, and explore and interpret data. We describe a method for involving external stakeholders including alumni, Executive Advisory Board members, or community business professionals. Extensive flexibility of the project allows variability in the conceptual focus, types of deliverables, and the mode of delivery.

Our experience with business and economic students indicates limited understanding and confidence when working with macroeconomic data such as unemployment rate, labor force participation rate, business cycles, and price indexes. To close this gap, the authors have developed and evaluated a college classroom experiential activity defined as the Storytelling Project (SP) conducted in nine principles of economics courses in a mid-size private university over a period of two years during the COVID-19 pandemic. In the SP, students wrote personal stories that assisted them in connecting with their audience and then visually presented complex economic data. A workbook supplemented the SP with learning objectives, tasks, multiple examples of data analysis, storytelling techniques, and videos. Participants completed a self-efficacy and attitude survey of perceived cognition, confidence, and motivation and took an assessment to evaluate cognitive competencies. The survey and assessment results were compared against students who did not complete the SP. Our results indicate that the SP and the workbook are effective experiential learning activities that improve data analysis and communication skills among college students. Students show more confidence and motivation in macroeconomics and data analysis at the end of the semester. Knowledge or cognitive competency is ranked higher among those completing the SP.

Racial justice has been at the forefront of the public discourse, and although economists in academia have been coming to the realization that racial justice is not adequately addressed in the undergraduate economics instruction, topics related to race and racism remain rare in economics courses. This paper shows how to incorporate racial justice topics into an econometrics course. Students select journal articles about race in the economy, present the articles to the class and lead a discussion. Students benefit by strengthening their econometrics skills and using evidence-based approach to gain knowledge of the role that racism has played in the economy.

Since environmental economics is typically under the umbrella of microeconomics, there is less emphasis on macroeconomic issues in undergraduate-level environmental economics textbooks. This presents a significant content deficiency because it limits the discussion of global environmental policy and growth. In this paper, I propose a simplified version of Brock and Taylor (J Econ Growth 15(2):127-153, 2010)'s "green" Solow model that is accessible for undergraduates. I assume that the growth rate of emissions is equal to the growth rate of capital per effective worker in addition to several omissions. The result is a restatement of the model that requires no calculus or differential equations to understand. I also discuss how this stand-alone content can be taught to students of different skill levels and in various class formats as a complement to empirical applications.

Rent-seeking behavior is when individuals or firms acquire above-market returns by exercising economic and political power. We introduce an active-learning exercise, with discussion questions and extensions, to illustrate implications of rent seeking for efficiency, equity, economic justice, and democracy. Students act as corporate decision makers allocating resources among physical, financial, and political investment. Instructors use the results to highlight distinctions between productive and nonproductive activities, and ways in which individual firm incentives may differ from socially optimal firm behavior. This allows for discussions of broader issues, such as how rent seeking can undermine democratic ideals and perpetuate inequality.