https://libjournals.mtsu.edu/index.php/jfee/issue/feed Journal for Economic Educators 2022-10-17T18:41:19+00:00 Michael Roach michael.roach@mtsu.edu Open Journal Systems <p><strong>The<em> Journal for Economic Educators</em> publishes articles of interest to teachers of Economics and Finance from high school through doctoral degree levels. </strong><br>ISSN 2688-5956 (online)</p> <script>// <![CDATA[ (function(i,s,o,g,r,a,m){i['GoogleAnalyticsObject']=r;i[r]=i[r]||function(){ (i[r].q=i[r].q||[]).push(arguments)},i[r].l=1*new Date();a=s.createElement(o), m=s.getElementsByTagName(o)[0];a.async=1;a.src=g;m.parentNode.insertBefore(a,m) })(window,document,'script','//www.google-analytics.com/analytics.js','ga'); ga('create', 'UA-68458938-1', 'auto'); ga('send', 'pageview'); // ]]></script> https://libjournals.mtsu.edu/index.php/jfee/article/view/2287 TEACHING CLIMATE CHANGE TO ECON 101 STUDENTS 2022-10-17T18:12:00+00:00 Junaid B. Jahangir digitalscholar@mtsu.edu <p>There is a growing recognition that ECON 101 does not adequately prepare students to address the pressing issues of our times including climate change. However, options such as the CORE text are unsuitable because of information overload and the use of advanced technical concepts and techniques. The objective in this paper is to introduce climate change to ECON 101 students in a way that minimizes student confusion, instructor workload, and upholds Mankiw’s approach of clarity before nuance. A new approach is delineated based on popular books, magazine articles, a YouTube video, and simple exercises. This five-part approach consists of emphasizing the urgency of climate change, thinking outside the box through geoengineering, the limits of individual actions like buying local or going vegan, the comparative outlook on various policy tools with a simple equation solving exercise, and game theory to broach the issue of international collaboration.</p> 2022-10-17T00:00:00+00:00 Copyright (c) 2022 https://libjournals.mtsu.edu/index.php/jfee/article/view/2288 INVENTORIES IN GDP: A CLASSROOM LEARNING STRATEGY 2022-10-17T18:35:03+00:00 Julien Picault digitalscholar@mtsu.edu <p>The Gross Domestic Product (GDP) is a component of macroeconomics courses that is widely used by economists and the society alike. However, many students find it difficult to understand what GDP encompasses. The understanding of the concept can be facilitated by a tool that explains the specific spending categories in the GDP identity. This study presents a teaching strategy and tool to facilitate students' learning of the role of inventories in the GDP and how inventories can be used concurrently with other spending categories, that is, Consumption (C), Investment (I), Government Expenditure (G), and Net Exports (NX). It presents four scenarios in which inventories are used as a corrective mechanism to solve the temporal problem that the good produced in one year and sold in another create. By using this tool, the students can quickly and fully understand the role of inventories in GDP calculations.</p> 2022-10-17T00:00:00+00:00 Copyright (c) 2022 https://libjournals.mtsu.edu/index.php/jfee/article/view/2289 USING DATA FROM CLASSROOM EXPERIMENTS TO TEACH DEADWEIGHT LOSS 2022-10-17T18:36:16+00:00 Austin Brooksby digitalscholar@mtsu.edu Lucas Rentschler digitalscholar@mtsu.edu <p>This paper demonstrates a novel approach to teaching the concept of deadweight loss using a double oral auction experiment conducted in the classroom. After the experiment, students are given the associated data and are tasked with calculating both predicted and observed consumer and producer surplus transaction by transaction. They are then asked to differentiate between deadweight loss resulting from an inefficient allocation of production and consumption given the observed number of transactions and the deadweight loss resulting from an inefficient number of transactions. We find an improved understanding of these concepts from the participating class.</p> 2022-10-17T00:00:00+00:00 Copyright (c) 2022 https://libjournals.mtsu.edu/index.php/jfee/article/view/2290 PRICE ELASTICITY, TAX INCIDENCE, AND SALES VOLUME: A SIMPLE MODEL 2022-10-17T18:37:55+00:00 Joseph G. Eisenhauer digitalscholar@mtsu.edu <p>Most intermediate microeconomics textbooks introduce taxes into the basic market model by using a supply-and-demand diagram, and explaining that the economic incidence of the tax falls most heavily on the group (buyers or sellers) whose behavior is least price-elastic. We extend that presentation by using algebra to relate the tax incidence more explicitly to the measurement of price elasticity. The result is a convenient equation showing that the ratio of tax burdens is exactly the inverse of the ratio of (absolute) price elasticities, along with well-known expressions for each group’s share of the tax burden. Additionally, the model generates the impact factor by which an excise tax reduces the quantity of a good sold. Both hypothetical and empirical examples of price elasticity are provided to illustrate the effects of excise and sales taxes.</p> 2022-10-17T00:00:00+00:00 Copyright (c) 2022