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Experiential Learning Based Discussion vs. Lecture Based Discussion: How to Estimate the Unemployment Rate

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  • Inhyuck Steve Ha
  • Jessica Hollars Wisniewski

Abstract

This pedagogical method to estimate the unemployment rate is appropriate for an undergraduate course in macroeconomics. Class instructors can use the experiment to make many macroeconomic principles readily apparent to the unskilled reader. This experiment examines the dynamics of calculating the unemployment rate by means of an assessment instrument. Students can learn that the unemployment rate is calculated using estimates of the size of the labor force, which includes individuals who are both employed and unemployed. In addition, they discover that their estimated unemployment rate agrees with the estimates made by leading economic indices. Thus, by participating in the experiment, students better understand how to calculate the unemployment rate and how to understand published unemployment estimates.

Suggested Citation

  • Inhyuck Steve Ha & Jessica Hollars Wisniewski, 2011. "Experiential Learning Based Discussion vs. Lecture Based Discussion: How to Estimate the Unemployment Rate," Journal for Economic Educators, Middle Tennessee State University, Business and Economic Research Center, vol. 11(1), pages 33-38, Summer.
    • Handle: RePEc:mts:jrnlee:v:11:y:2011:i:1:p:33-38
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    References listed on IDEAS

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    1. Tisha L. N. Emerson & Beck A. Taylor, 2004. "Comparing Student Achievement across Experimental and Lecture-Oriented Sections of a Principles of Microeconomics Course," Southern Economic Journal, John Wiley & Sons, vol. 70(3), pages 672-693, January.
    2. Charles A. Holt, 1999. "Teaching Economics with Classroom Experiments: A Symposium," Southern Economic Journal, John Wiley & Sons, vol. 65(3), pages 603-610, January.
    3. Mark Dickie, 2006. "Do Classroom Experiments Increase Learning in Introductory Microeconomics?," The Journal of Economic Education, Taylor & Francis Journals, vol. 37(3), pages 267-288, July.
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    More about this item

    Keywords

    economic experiment; unemployment rate;

    JEL classification:

    • A22 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Undergraduate
    • C90 - Mathematical and Quantitative Methods - - Design of Experiments - - - General
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity

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