In this chapter, we address the problems of teaching microeconomic principles to business students. We describe the peculiar features of student demand that make teaching economics using a model-based pedagogy unsuccessful. We conclude that a problem-solving pedagogy is a better way to satisfy...

This paper demonstrates how simple general equilibrium models can be solved with the help of Microsoft Excel. Two different general equilibrium models for tax incidence analysis are used as illustrative examples. The methods presented here are intended to be beneficial to both students and...

We report on the results of a two-phase survey aiming to explore the learning preferences of graduates in economics, compare the findings with graduates in other disciplines, and identify the determinant dimensions of their developed learning preferences. Economics graduates are compared against...

Most lectures teach the relationship between the CES, Cobb-Douglas, and Leontief functions using the value of elasticity of substitution, namely, in the discrete object model. This lecture note aims at being a reference for algebraic computations of the Leontief and Cobb-Douglas functions by...

The standard textbook description of relationship between the LRMC and the SRMC for output levels below the optimum for a particular plant size is typically misleading and imprecise. Students are frequently confused as to how the SRMC can ever be below the LRMC since everything is variable in...

Quality in Higher Education has become a primary agenda of the countries worldwide. In the context marked by expansion of higher education and globalization of economic activities, education has become a national concern in developing countries with an international dimension. To cope with this...

Education has long been considered as a corner stone in economic development. The 21st century has brought new challenges and opportunities for higher education. In the wake of the transition from elitist to mass education, universities worldwide are under pressure to enhance access and equity,...

This paper reports an econometric test of a one-minute paper assignment used as a tool to manage and assess instruction in my statistics class. One of the findings is that the one minute paper when tested by using an OLS estimate in a controlled vs. experimental design framework is found to be...

The basic academic education in economic thinking is dominated by very simplified models of firms and individuals in the market. The theory of firm, which is the fundamental model of neoclassical microeconomics, therefore has great influence on the way people think about economic processes. The...

Despite its critical importance in the theory of the firm, marginal cost is unobservable in most production settings. Most cost accounting practices substitute average cost estimates for the unobservable marginal cost; moreover, some cost accounting measures include fixed costs as a component of...