IDEAS home Printed from https://ideas.repec.org/a/mts/jrnlee/v18y2018i2p22-41.html
   My bibliography  Save this article

Economic Education Production Functions for the Principles of Macroeconomics and the Principles of Microeconomics: Is There a Difference?

Author

Listed:
  • Hart Hodges
  • Yvonne Durham
  • Steve Henson

Abstract

This paper examines the relationships among student attitudes towards economics, performance, and knowledge retention in introductory economics courses. We find that the economic education production functions differ across the introductory microeconomics and macroeconomics courses. Attitude affects performance in microeconomics, but not in macroeconomics, while performance does not impact ending attitude significantly in either course. Classroom experiments and gender affect performance directly in macroeconomics, but only indirectly through attitude in microeconomics. The existence of differing production functions provokes important questions about how each of the introductory courses should be designed and taught, suggesting that it is not appropriate to treat all introductory courses in the same way. Additionally, we find that the retention of knowledge depends primarily on past performance and native ability, with classroom experiments slowing the depreciation rate.

Suggested Citation

  • Hart Hodges & Yvonne Durham & Steve Henson, 2018. "Economic Education Production Functions for the Principles of Macroeconomics and the Principles of Microeconomics: Is There a Difference?," Journal for Economic Educators, Middle Tennessee State University, Business and Economic Research Center, vol. 18(2), pages 22-41, Fall.
    • Handle: RePEc:mts:jrnlee:v:18:y:2018:i:2:p:22-41
    as

    Download full text from publisher

    File URL: http://capone.mtsu.edu/jee/2018/pp22-41MS517.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Wu, De-Min, 1973. "Alternative Tests of Independence Between Stochastic Regressors and Disturbances," Econometrica, Econometric Society, vol. 41(4), pages 733-750, July.
    2. Frank, Bjorn, 1997. "The Impact of Classroom Experiments on the Learning of Economics: An Empirical Investigation," Economic Inquiry, Western Economic Association International, vol. 35(4), pages 763-769, October.
    3. Mary O. Borg & Stephen L. Shapiro, 1996. "Personality Type and Student Performance in Principles of Economics," The Journal of Economic Education, Taylor & Francis Journals, vol. 27(1), pages 3-25, January.
    4. Cardell, N Scott, et al, 1996. "Laboratory-Based Experimental and Demonstration Initiatives in Teaching Undergraduate Economics," American Economic Review, American Economic Association, vol. 86(2), pages 454-459, May.
    5. Stock, James H & Wright, Jonathan H & Yogo, Motohiro, 2002. "A Survey of Weak Instruments and Weak Identification in Generalized Method of Moments," Journal of Business & Economic Statistics, American Statistical Association, vol. 20(4), pages 518-529, October.
    6. 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.
    7. Roberta Edgecombe Robb & A. Leslie Robb, 1999. "Gender and the Study of Economics: The Role of Gender of the Instructor," The Journal of Economic Education, Taylor & Francis Journals, vol. 30(1), pages 3-19, January.
    8. Yvonne Durham & Thomas Mckinnon & Craig Schulman, 2007. "Classroom Experiments: Not Just Fun And Games," Economic Inquiry, Western Economic Association International, vol. 45(1), pages 162-178, January.
    9. Hans Gremmen & Jan Potters, 1997. "Assessing the Efficacy of Gaming in Economic Education," The Journal of Economic Education, Taylor & Francis Journals, vol. 28(4), pages 291-303, December.
    10. Mary O. Borg & Harriet A. Stranahan, 2002. "Personality Type and Student Performance in Upper-Level Economics Courses: The Importance of Race and Gender," The Journal of Economic Education, Taylor & Francis Journals, vol. 33(1), pages 3-14, January.
    11. William B. Walstad, 2001. "Improving Assessment in University Economics," The Journal of Economic Education, Taylor & Francis Journals, vol. 32(3), pages 281-294, January.
    12. Dancer, Diane M, 2003. "The Gender Issue Revisited: A Case Study of Student Performance in Economics and Econometrics," Economic Analysis and Policy, Elsevier, vol. 33(1), pages 73-89, March.
    13. 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.
    14. Feiner, Susan & Roberts, Bruce, 1995. "Using Alternative Paradigms to Teach about Race and Gender: A Critical Thinking Approach to Introductory Economics," American Economic Review, American Economic Association, vol. 85(2), pages 367-371, May.
    15. Ralph A. Terregrossa & Fred Englander & Zhaobo Wang, 2009. "Why Learning Styles Matter For Student Achievement In College Economics," Journal for Economic Educators, Middle Tennessee State University, Business and Economic Research Center, vol. 9(1), pages 16-31, Summer.
    16. John Kane & Larry Spizman, 1999. "Determinants of Student Retention of Microeconomic Concepts," Departmental Working Papers 199901, Department of Economics, SUNY-Oswego, revised 18 Mar 1999.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Yvonne Durham & Thomas Mckinnon & Craig Schulman, 2007. "Classroom Experiments: Not Just Fun And Games," Economic Inquiry, Western Economic Association International, vol. 45(1), pages 162-178, January.
    2. Gerald Eisenkopf & Pascal A. Sulser, 2016. "Randomized controlled trial of teaching methods: Do classroom experiments improve economic education in high schools?," The Journal of Economic Education, Taylor & Francis Journals, vol. 47(3), pages 211-225, July.
    3. Tisha Emerson & Denise Hazlett, 2011. "Classroom Experiments," Chapters, in: Gail M. Hoyt & KimMarie McGoldrick (ed.), International Handbook on Teaching and Learning Economics, chapter 7, Edward Elgar Publishing.
    4. Mateu, Guillermo, 2021. "Innovative education management: an empirical study," TEC Empresarial, School of Business, Costa Rica Institute of Technology (ITCR), vol. 15(3), pages 2-17.
    5. Gerald Eisenkopf & Pascal Sulser, 2013. "A Randomized Controlled Trial of Teaching Methods: Do Classroom Experiments improve Economic Education in High Schools?," TWI Research Paper Series 80, Thurgauer Wirtschaftsinstitut, Universität Konstanz.
    6. Marcus Giamattei & Humberto Llavador, 2017. "Teaching microeconomic principles with smartphones – lessons from classroom experiments with classEx," Working Papers 996, Barcelona School of Economics.
    7. Beth A. Freeborn & Jason P. Hulbert, 2011. "Persuasive and Informative Advertising: A Classroom Experiment," The Journal of Economic Education, Taylor & Francis Journals, vol. 42(1), pages 51-59, January.
    8. Ninos P. Malek & Joshua C. Hall & Collin Hodges, 2014. "A Review and Analysis of the Effectiveness of Alternative Teaching Methods on Student Learning in Economics," Working Papers 14-27, Department of Economics, West Virginia University.
    9. Martin Dufwenberg & J. Todd Swarthout, 2009. "Play to Learn? An Experiment," Experimental Economics Center Working Paper Series 2009-08, Experimental Economics Center, Andrew Young School of Policy Studies, Georgia State University.
    10. Dupont, Brandon & Durham, Yvonne, 2021. "Adam Smith and the not so invisible hand: A revision for the undergraduate classroom," International Review of Economics Education, Elsevier, vol. 36(C).
    11. Liu, Donald J. & Walker, J.D. & Bauer, Theresa A. & Zhao, Meng, 2007. "Facilitating Classroom Economics Experiments with an Emerging Technology: The Case of Clickers," 2007 Annual Meeting, July 29-August 1, 2007, Portland, Oregon 9873, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    12. Jonathan Guest, 2015. "Reflections on ten years of using economics games and experiments in teaching," Cogent Economics & Finance, Taylor & Francis Journals, vol. 3(1), pages 1115619-111, December.
    13. McMahon, Michael, 2011. "Classroom Games in Economics: A Quantitative Assessment of the ‘Beer Game’," Economic Research Papers 270760, University of Warwick - Department of Economics.
    14. Stefan Ruediger & Tatiana Batova, 2020. "The Candy Price Index and the Gumball Domestic Product," Journal of Economics Teaching, Journal of Economics Teaching, vol. 5(1), pages 1-16, May.
    15. Giamattei, Marcus & Graf Lambsdorff, Johann, 2015. "classEx: An online software for classroom experiments," Passauer Diskussionspapiere, Volkswirtschaftliche Reihe V-68-15, University of Passau, Faculty of Business and Economics.
    16. Alan Grant & Jim Bruehler & Andreea Chiritescu, 2016. "Herd Immunity: A Classroom Experiment," Journal of Economics Teaching, Journal of Economics Teaching, vol. 1(1), pages 7-16, June.
    17. Subha Mani & Utteeyo Dasgupta, 2010. "Explaining Randomized Evaluation Techniques Using Classroom Games," Fordham Economics Discussion Paper Series dp2010-06, Fordham University, Department of Economics.
    18. Nelson, Robert G. & Wilson, Norbert L.W., 2008. "Evaluating Teaching Methods: Is It Worth Doing Right?," 2008 Annual Meeting, February 2-6, 2008, Dallas, Texas 6810, Southern Agricultural Economics Association.
    19. Sam Allgood & William B. Walstad & John J. Siegfried, 2015. "Research on Teaching Economics to Undergraduates," Journal of Economic Literature, American Economic Association, vol. 53(2), pages 285-325, June.
    20. Lin, Tin-Chun, 2024. "Can instruction in consumer choice theory in introduction to microeconomics benefit student learning in upper-level economics courses? The example of public finance," International Review of Economics Education, Elsevier, vol. 46(C).

    More about this item

    Keywords

    economics education; attitude; performance; retention; production functions;
    All these keywords.

    JEL classification:

    • A20 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - General
    • A22 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Undergraduate
    • I21 - Health, Education, and Welfare - - Education - - - Analysis of Education

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mts:jrnlee:v:18:y:2018:i:2:p:22-41. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Michael Roach (email available below). General contact details of provider: https://edirc.repec.org/data/efmtsus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.