In this assignment, a group of four to five students will select …
In this assignment, a group of four to five students will select one country that has been ranked in the World Development Indicators of the World Bank, the Human Development Indicators of the United Nations Development Program, and the Happy Planet Indicator of the New Economic Foundation. Using the selected country's political, social, and economic statistics, each group will assess the methodology and validity of the measurements of WDI, HDI, and HPI indicators for the country. Students will compare and contrast the measurement methods, analyze the strengths and weaknesses of each indicator, and propose recommendations to improve these indicators.
In this macroeconomics problem, students check to see whether they understand the …
In this macroeconomics problem, students check to see whether they understand the role nominal aggregate demand and inflation expectations play in determining the economy's output level and inflation rate.
The lecture focused on the banking system and included a discussion about …
The lecture focused on the banking system and included a discussion about total reserves, required reserves and excess reserves. Students practiced calculating each category in pairs and then compared their solutions with those of the instructor.
Gross domestic product (GDP) was introduced in class as a way to …
Gross domestic product (GDP) was introduced in class as a way to determine the value of a country's output. Consumption, investment, government spending, and net exports were discussed as the components of GDP. Items that are excluded from GDP were also discussed.
Following a lecture about unemployment, students are asked to calculate the unemployment …
Following a lecture about unemployment, students are asked to calculate the unemployment rate. They will need to apply their knowledge about unemployment and the labor force in order to make the calculation.
In this assignment, students think about four events that would affect a …
In this assignment, students think about four events that would affect a country's exchange rate. Without actually drawing a supply and demand diagram, students say what direction, if at all, each curve would shift��and whether the currency would appreciate or depreciate as a result.
The topic of gross domestic product (GDP) was introduced in class. The …
The topic of gross domestic product (GDP) was introduced in class. The components of GDP - consumption, investment, government spending, and net exports - were discussed. The items that are excluded from GDP and the difference between GDP and gross national product (GNP) were also explained.
Students in an economics course are asked to write a doumented problem …
Students in an economics course are asked to write a doumented problem solution to explain how a change in a determinant of demand will impact the equilibrium price.
The concept of price elasticity of demand was introduced in class. Elastic …
The concept of price elasticity of demand was introduced in class. Elastic and inelastic goods were discussed. The impact that a change in price will have on total revenue was also presented.
During the lecture, labor demand and labor supply were discussed and were …
During the lecture, labor demand and labor supply were discussed and were used to determine the equilibrium wage rate. Then, the concept of a minimum wage rate was introduced and the impact of the wage rate on the labor market was demonstrated graphically.
During the lecture, the competitive market was introduced. A graph was used …
During the lecture, the competitive market was introduced. A graph was used to demonstrate a competitive market in which there was an economic profit. The profit motive causes an increase in supply. As additional producers enter the market, the price of the product or service decreases. In the end, price will decrease until the long-run equilibrium situation is reached which means that the economic profit decreases to zero.
We tend to see the United States as a country with free …
We tend to see the United States as a country with free trade. Although we do have a great deal of freedom to enter new markets, there are barriers to trade that limit consumer choice. This lesson explores these barriers and how they work.
Spreadsheets Across the Curriculum module. Students build a spreadsheet to explore the …
Spreadsheets Across the Curriculum module. Students build a spreadsheet to explore the trade-offs between "bargain-priced" gas vs. the extra mileage needed to get it. A modeling problem.
The Dynamic Integrated Climate Change (DICE) model assumes a single world producer …
The Dynamic Integrated Climate Change (DICE) model assumes a single world producer must chose levels for three simultaneously determined variables: current consumption, investment, and greenhouse gases reduction. The model is freely available in both a GAMS and Excel version. DICE allows both science and economics instructors to integrate a sophisticated economic model of climate change into their courses. The simulation is for upper-division courses where students have some background in microeconomics. The principle developer is William Nordhaus at Yale University.
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