Wednesday 26 June 2024

3pm-4.30pm BST//10am-11.30am EDT

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Chair: Patrick Walsh (Saint Michael’s College)

Speakers:

“Don’t Crash the Economy” – Using Gamification to Teach Economic Policy

Theresa Alafita (Western Governors University), Anastasia Smith (Western Governors University), Sarah Welhelm (Western Governors University), and Susan Skinner (Western Governors University)

Over the last year we’ve held a weekly, on-line event where students work in teams to play our economic policy game – “”Don’t Crash the Economy””. In the game, students play the role of economic advisor to the nation of Merrilton. Our students have found this experience both enjoyable and helpful to their learning. During our presentation we will describe the process of creating the game. We’ll go over the economic content included in the game. Finally, we’ll discuss the students’ responses to this learning experience.

We used Articulate Storyline software to create the game. The game takes students through series of three scenarios. Each one presents an economic problem for which students are asked to select an appropriate policy response. Points are awarded for selecting the correct answer. When the wrong answer is selected, students get another opportunity to answer. The more tries it takes to get the question right, the fewer points are awarded. If enough points are earned, the students are recognized as “Masters of Economic Policy” at the end of the game.

Our students’ struggles with macroeconomic policy motivated our creation of the “Don’t Crash the Economy” game. Within this broader topic, we focused on three points of student confusion.
1) Monetary vs. Fiscal Policy
2) Expansionary vs. Contractionary Policy
3) Aggregate Demand vs Aggregate Supply
Each of our scenarios were constructed to help students better distinguish and apply these concepts.

We’ve found several benefits to offering students the option to work with the course material in this way. First, the use of narrative and the inclusion of a variety of game elements helps maintain student engagement. With sustained focus, students’ make strong progress in understanding of the course content. Next, exposure to these scenarios helps students connect the course content to the “”real world””. As they recognize the relevance of the course material to their lives, our students express greater interest in and derive greater satisfaction from their learning. Finally, having students work together pushes them to understand the material better. After each scenario, the student team must select the best policy option. Often students will have different ideas about which policy to choose. In the process of coming to agreement, students explain their ideas and listen to one another. Formulating these economic arguments is a very effective study strategy.

How to prove it? Using Polya cycles in a UG Mathematics for Economics module.

Shomak Chakrabarti (University of Manchester)

Teaching mathematics (particularly proofs and real analysis) to UG economics students can often be a tricky affair. While mathematics is ubiquitous in much of mainstream economics, an incoming economics major is often not as mathematically inclined as a physics major or computer science major. As a result, economics majors find it more difficult to transition away from the “”recipe-based”” approach to mathematics typically used in high schools and A-levels to the more abstract approach to mathematics.
To bridge this gap in my UG real analysis and optimisation theory course, I introduced the “Polya Cycle” approach to tackling mathematical problems. This approach, first formalised by the famous mathematician George Polya, provides a heuristic structure to approach mathematical problems. It involves understanding the problem, making a plan, executing the plan, and taking a step back to make a judgement on the progress towards solving the problem.

The objective of this presentation is to explore this approach in detail and evaluate students’ experience in the learning process from it. My presentation will be broadly divided into three parts. In the first part (2-3 minutes), I will motivate the approach by pointing out the difficulties students face in a proof-based mathematics course – possibly with examples from student feedback. In the second section (4-5 minutes), I plan to explain the details of the Polya cycle along with a working example. In the last 2-3 minutes, I will share some student feedback and explore how the approach is general enough to be utilised in other non-mathematical courses.

Student-Led Interviews to clarify Unemployment Misconceptions

Alpna Bhatia (University of Colorado-Boulder) and Mariya Burdina (University of Central Oklahoma)

We present student led interviews as a teaching technique designed to enhance student understanding of economic concepts, specifically focusing on unemployment issues. The approach involves students conducting interviews with friends or family members about their perceptions of unemployment, followed by the reporting and correction of identified misconceptions. The significance of this technique lies in its ability to foster active engagement and critical thinking among students, even in the asynchronous learning environment. By bringing real-world perspectives into the virtual classroom, students are not only encouraged to explore economic concepts in depth but also to connect theory with personal experiences.

The process begins with students initiating interviews with individuals in their social circles, providing a unique opportunity to bridge theoretical knowledge with practical, lived experiences. This student-led approach not only ensures relevance but also cultivates a sense of ownership and responsibility for learning. Through the reporting and correction phase, students actively participate in dispelling misconceptions that may arise during the interviews. This collaborative learning process contributes to a dynamic and supportive online community where students collectively work towards a more accurate understanding of unemployment-related issues.

Asynchronous settings often struggle with maintaining student engagement, but this technique has demonstrated consistently positive feedback, with students expressing enthusiasm for the authentic and applicable nature of the project.