Journal for Economic Educators <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','//','ga'); ga('create', 'UA-68458938-1', 'auto'); ga('send', 'pageview'); // ]]></script> en-US <p>By making research freely available, we help support the greater global exchange of knowledge. There are no article submission or processing charges. Each journal volume is preserved via the Walker Library's three level preservation methods including local and cloud storage. The author(s) retains/retain the copyright to the work, but grants the Journal the right to publish, display, and distribute the work in print and electronic format. Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons CC BY-NC-ND 4.0 license that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal. For more information on this license go to <a href="" target="_blank"></a>.</p> (Michael Roach) (Michael Roach) Mon, 17 Oct 2022 18:41:19 +0000 OJS 60 TEACHING CLIMATE CHANGE TO ECON 101 STUDENTS <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> Junaid B. Jahangir Copyright (c) 2022 Mon, 17 Oct 2022 00:00:00 +0000 INVENTORIES IN GDP: A CLASSROOM LEARNING STRATEGY <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> Julien Picault Copyright (c) 2022 Mon, 17 Oct 2022 00:00:00 +0000 USING DATA FROM CLASSROOM EXPERIMENTS TO TEACH DEADWEIGHT LOSS <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> Austin Brooksby, Lucas Rentschler Copyright (c) 2022 Mon, 17 Oct 2022 00:00:00 +0000 PRICE ELASTICITY, TAX INCIDENCE, AND SALES VOLUME: A SIMPLE MODEL <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> Joseph G. Eisenhauer Copyright (c) 2022 Mon, 17 Oct 2022 00:00:00 +0000