Using an Open-Source Computer Algebra System to Teach Economics

Computer Algebra Systems can be combined with conventional teaching methods to provide students a more "hands-on" understanding of economic concepts. Maxima and its interface wxMaxima are open source (and therefore zero-price) alternatives to expensive programs like Maple and Mathematica. This paper argues for the benefits of using wxMaxima, and presents several examples for instructors to use in classes. Many of these examples are from Hodgin (1999), but we provide additional examples, and enhance some of Hodgin's examples by adding animation. We also provide several simple exercises for students to try, and explain why these exercises can deepen students' understanding