Exploring Innovative Pedagogies and Inclusive Practices in Economics Education
Paper Session
Friday, Jan. 3, 2025 12:30 PM - 2:15 PM (PST)
- Chair: Amanda Jennings, University of Michigan
Excel Literacy in the Classroom
Abstract
Our study aims to assess Excel proficiency among undergraduate students taking a Principles of Economics course. Students analyzed a dataset of 103 Major League Baseball player hit statistics using Excel functions—SUM, AVERAGE, MEDIAN, SORT, IF–THEN, and VLOOKUP. Preliminary results indicate a significant decline in correct responses from simple to complex functions, with statistical differences in sex observed. While male and female respondents had comparably correct answers, the females exhibited lower confidence on average. Additionally, no major ethnic disparities were noted across correct answers or confidence. Future research will be performed to examine potential drivers of the difference in confidence between sexes.Diversity, Equity, Inclusiveness, Justice, and Belonging (DEIJ&B) in Economics Programs: Addressing Instructor Hesitancies
Abstract
Diversity, Equity, Inclusiveness, Justice, and Belonging (DEIJ&B) in Economics Programs: Addressing Instructor HesitanciesAddressing documented diversity gaps and pedagogical challenges, the paper calls to renew educators’ commitment to equal access to economics education for all students, with a focus on historically underrepresented groups. Drawing on STEM practices, our paper proposes a set of guiding principles and best practices to examine and overcome common institutional barriers and biases faced by economic educators. Our work equips educators to break institutional barriers, providing them with tools to support both students and colleagues. The paper's implications extend beyond immediate institutional boundaries, proposing how to reshape the broader culture in economics education and contribute to a more equitable academic landscape for economics students. The following instructor-focused skill sets are covered in the paper: (1) spearheading meaningful DEIJ&B progress in local undergraduate economics curricula, (2) increasing DEIJ&B exposure in graduate economics training, (3) introducing and managing ‘hot point’ topics in and outside of the classroom, and (4) managing peer instructor and/or administrator pushback on program-level DEIJ&B initiatives.
Using the Literacy Targeted Approach to Teach Monetary Policy
Abstract
Using the Literacy Targeted Approach to Teach Monetary PolicyThe literacy-targeted approach to teaching principles argues that it is more valuable for students to be able to apply core economic concepts well than to be exposed to a wide range of concepts they will soon forget. Research suggests that the literacy-targeted approach is Pareto-improving; it appeals to, and better serves, a broader audience than "traditional" economics courses while doing no harm to those who go on to major in economics. One core instructional topic that has gone through a transition recently is monetary policy. As instructors adjust their instruction to teaching the Federal Reserve’s ample reserves approach to monetary policy, they need to address the amount and level of content they cover in class. Monetary policy instruction has long focused on how the monetary policy tools are used to move the federal funds rate toward the target set by the Federal Open Market Committee. While that is important for understanding the mechanics of policy, especially for majors, it is not as relevant or meaningful for the “one and done” students who would benefit more from knowing how Fed policy affects the decisions of consumers and businesses, and the economy more broadly. This session will introduce the literacy-targeted approach, review the research, then provide guidance on teaching the ample reserves approach to monetary policy in a literacy targeted framework.
Discussant(s)
Amy Eremionkhale
,
DePauw University
Aselia Urmanbetova
,
Georgia Institute of Technology
Kim Holder
,
University of Tennessee-Chattanooga
Amanda Jennings
,
University of Michigan
JEL Classifications
- A1 - General Economics
- A2 - Economic Education and Teaching of Economics