The belief that equality of demand and supply determines price and clears the market is universal. Shockingly, this belief is unfounded. It contradicts macro’s claim that equality of demand and supply determines output. It contradicts (new) monetary theory, which claims that equality of demand...

This essay compares teaching to transportation--the purpose is to move the passengers rather than the vehicles. Effective teaching requires reaching students where they are, emphasizing their learning, and making the concepts relevant to their experience. Content needs to be constantly...

En este artículo se estudia la evolución de la educación primaria en Colombia durante el siglo diecinueve, y los factores que determinaron su desarrollo. Se exploran los posibles orígenes del fracaso y del lento progreso de la educación, los cuales llevaron a que Colombia a finales de ese...

Contrary to previous research we show lack of anonymity is associated with large positive shifts in student evaluation of teaching. The results are consistent with the simple observation that due to higher expected future earning economics and business students have more at stake it terms of...

In answer to the long-standing question, what kinds of knowledge and skills should economics majors master, Lee Hansen has advocated a proficiencies approach. According to this approach, the teaching and learning of economics undergraduates should be based on the attainment of (six) specified...

Because modern macroeconomics is by nature dynamic, the mathematics involved are often difficult for undergraduate students to grasp. Unfortunately, numerical examples that are helpful in clarifying other technical areas of economics are very time consuming and even intractable when using pen,...

A disadvantage of multiple-choice tests is that students have incentives to guess. To discourage guessing, it is common to use scoring rules that either penalize wrong answers or reward omissions. These scoring rules are considered equivalent in psychometrics, although experimental evidence has...

An extensive literature in education shows little relationship between teaching and research. Authors advance the notion that research enhances teaching, but they typically ignore the prospect of teaching enhancing research. We report the results of a survey of active researchers in economics...

The concept of comparative advantage is a fundamental tool in economics. Yet, it is a concept that new students of economics frequently find challenging to grasp. In this interactive classroom game, I highlight the three essential lessons of comparative advantage: (i) individuals can have a...

This paper is a discussion of the changes in the economics profession that occurred (or at least are suggested will occur) between 2000 and 2050. Structural changes include the growth of virtual universities, the movement of the center of economics out of the U.S. and the shrinking of...