Digital Commons Network^™

Attracting “Otherwise Bright” Women To Economics: An Administrative Strategy For Small To Medium Size Economics Departments

Journal of Economics and Finance Education

This paper reports on a departmental strategy that targets students in the one-semester introductory economics survey course for non-majors by (1) aggressively marketing the economics degree, and (2) allowing high achieving students to waive the macroeconomic principles requirement for an economics degree. A detailed analysis of 602 student transcripts over a period of 33 years suggests that the waiver policy has not disadvantaged students in subsequent upper-level economics courses. On the contrary, women entering the economics program through the survey course have both significantly improved gender balance and the overall academic performance of economics students

Improving Student Performance In Business Statistics Courses With Online Assessments

Journal of Economics and Finance Education

We study the impact of online assessments on student performance in business statistics courses. We quantify the degree to which students take advantage of various online opportunities to improve their quiz grades and estimate its effect on in-class exam scores. We also study the perceptions of students regarding online assessments using anonymous surveys. We find that students believe that multiple attempts at online quizzes help them learn the material, and for the most part take advantage of these opportunities to improve their quiz grades. Furthermore, the effect on exam performance is positive and significant.

The Textbook Adoption Process By Economics Professors

Journal of Economics and Finance Education

Textbooks are an integral component of the higher education process. This study examines the textbook selection process and the marketing techniques used by publishers to encourage adoption. A total of 134 survey responses were collected. Results indicate that content, ancillary materials, length of the textbook and textbook costs are the primary drivers of adoption. Examination copies, contact by book reps, and direct mail flyers were the best methods of encouraging economics faculty to examine a new textbook. Significant differences were found based on years of teaching experience, rank, and the institution’s student enrollment.

Characterizing Student Finance Organizations-A Survey Of Fma Chapters

Journal of Economics and Finance Education

This manuscript presents the results of a survey of faculty advisors of student chapters of the Financial Management Association International (FMA). The institutions, advisors, and chapters are characterized in an effort to better understand how institutions serve their students—through the management of chapters and also how institutions provide that service through assignment of faculty advisors. The evidence indicates that chapters provide a wide-range of services and opportunities to students through the chapters, yet there appears to be differing perspectives as to the role, nature, and assignment, of chapter advisors.

Recent Trends And New Evidence In Economics And Finance Education

Journal of Economics and Finance Education

The teaching of pre-college economics has been widely researched for over 45 years with studies focused upon teacher training and improving students’ understanding. This paper reviews that research base, and reports the results of a new national survey, as well as a summary of several recent developments in the field of economic education. Young people can learn economics best when taught by knowledgeable teachers using well developed curriculum materials. But, to accommodate expanding state requirements, pertinacious state bureaucracies must increase teacher training and curriculum standards.

The Effectiveness Of Casual Group Learning In Introductory Finance Tutorials

Journal of Economics and Finance Education

Many universities require introductory financial management for undergraduate business majors. This study measures whether classroom study groups have a more positive effect on student perceptions and performance than traditional teacher driven classes. As an alternative to traditional tutorial teaching, Classroom Study Groups is an application of casual group learning and is consistent with Constructivist learning theories. The study reports significant differences between the two approaches, with student engagement and satisfaction reported at higher levels amongst those students involved in the traditional, teacher-led approach, and no significant difference between the two in regard to student performance. Interesting relationships are found between …

Testing Equity Portfolios For Alpha Bias: An Exercise For Student Investment Funds

Journal of Economics and Finance Education

We present an exercise that that guides students through the rationale and techniques for identifying and correcting for alpha bias in the reported performance of equity portfolios. The exercise is particularly relevant for Student Investment Fund programs that invest actual money, as the historical performance of the class portfolio can be used in the activity, which creates an additional level of engagement for students. Students learn why portfolios that emphasize smallcapitalization and/or value stocks tend to display a positive alpha bias (overstating performance), and why portfolios that emphasize largecapitalization and/or growth stocks tend to display a negative alpha bias (understating …

Teaching Bond Valuation: A Differential Approach Demonstrating Duration And Convexity

Journal of Economics and Finance Education

A traditional bond pricing scheme used in introductory finance texts is simple enough but not necessarily intuitive. The differential approach suggested here presents premiums (discounts) as coupon interest over- (under-) payments to make bond pricing dynamics more intuitive. The primary pedagogic benefit is the differential approach demonstrates the more sophisticated bond valuation concepts of duration and convexity.

Is There A Link Between Performance In International Economics Courses And Academic Success?

Journal of Economics and Finance Education

This paper uses a sample of 6,470 students and Maximum Likelihood Estimation to determine the relationship between grades received in international economics courses and academic success of business majors. The results indicate that the grades earned in international economics courses as well as the number of international economics courses are significant and positive determinants of students’ final GPA.

A Spreadsheet Application To Evaluate The Performance Of Protective Puts

Journal of Economics and Finance Education

This paper presents a spreadsheet application for performance evaluation of three put strategies adopted in practice. In contrast to the single-period protective put found in finance textbooks, these strategies roll over short maturity options over an extended period. The spreadsheet application provides the instructor with a pedagogical tool to illustrate and explain the measurement of insurance costs, the asymmetric impact of the options on the return distribution of the stock, the impact of exercise price on downside protection and upside reduction, and the dependence of the return on the put strategy on the stock price path.

A Probabilistic Model For Measuring Stock Returns And The Returns From Playing Lottery Tickets: The Basis Of An Instructional Activity

Journal of Economics and Finance Education

Many individuals indicate that playing the lottery is a legitimate way to generate wealth, including retirement savings. We offer a methodology designed to create interactive learning activities comparing the results of playing the lottery versus investing in stocks to create wealth. To emphasize the stochastic nature of investment and lottery returns, we employ a Monte Carlo simulation that draws from probability distributions created from lottery payoffs and historical stock returns. The model results demonstrate, visually and numerically that stock investments generally outperform the lottery in generating wealth.

A Brief Introduction To Marginal Analysis For The Micro-Economics Principles Course

Journal of Economics and Finance Education

This brief note provides a simple, yet powerful example of how the marginal cost/marginal benefit principle can be used in everyday life. Using the decision of the optimal choice of speed on the highway, this note was developed for use as one of the first readings in an introductory microeconomics course. It is clear in this demonstration that marginal cost is increasing, while marginal benefit is decreasing, and how the intersection of these two curves shows the optimal choice. In addition, shifts in the curves can easily be demonstrated as an introduction to supply and demand.

Yield-To-Maturity And The Reinvestment Of Coupon Payments

Journal of Economics and Finance Education

This note addresses a common misconception, found in investment texts and popular investment education literature, that in order to earn the yield to maturity on a coupon bond an investor must reinvest the coupon payments. We identify a sample of text and professional sources making this claim, demonstrate that yield to maturity entails no assumption of coupon reinvestment, discuss a cause for this confusion and offer a possible remedy.

Yield To Maturity Is Always Received As Promised

Journal of Economics and Finance Education

This note comments on a misconception that yield to maturity from holding a coupon bond until maturity is only promised, but not really received, unless coupon payments are reinvested at the same rate as the (original) yield to maturity. It shows that yield to maturity is always earned no matter how coupon payments are allocated – spent or reinvested at any rate. It illuminates that the realized compounding yield in fact measures the yield to maturity from a combination of two investments rather from simply holding the bond itself until maturity.

The Influence Of University Investment Education On Asset Allocation

Journal of Economics and Finance Education

Using survey data from students at three universities, we examine the influence of an Investments Analysis course on student perception of the ideal asset allocation for a retirement portfolio. Consistent with previous studies that examine financial education in the workplace, a critical outcome of university investment education is the apparent alleviation of a conservative bias that is typically prevalent among uninformed investors. This change results in an increasing willingness to take larger stock positions, which produces higher expected returns and larger portfolio betas. Most importantly, however, the net effect is more efficient portfolios, particularly for those students who begin with …

Math Skills And Everyday Problem Solving

Journal of Economics and Finance Education

Given the importance of mathematics to economic education, we administer a test of basic math skills to 696 students enrolled in various college economics courses in order to understand the factors influencing a student’s ability to apply basic math skills in practical settings. Students with strong elementary math skills perform significantly better in applied contexts and we find that taking more math classes in college improves a student’s ability to apply mathematics substantially. Interestingly, our results suggest that students with greater personal financial responsibility in funding their education do significantly better in understanding and applying basic math skills.

Financial Industry Certification Preparation And “Teaching To The Test”

Journal of Economics and Finance Education

This paper addresses two aspects of offering finance certification training programs at the university level. During the spring term 2006, Southern New Hampshire University offered (in conjunction with a large, diversified financial services company) a finance elective course to prepare students to sit for the FINRA Series 7 General Securities Registered Representative Examination. Firstly, the paper provides a brief background on developing a specialized academic course working in cooperation with a corporate entity. Secondly, the paper explores the academic ramifications of delivering the course in a “teaching to the test” format instead of a more typical academic course delivery.

Collusion And Stock Offerings: A Classroom Exercise For Economics And Finance Classes

Journal of Economics and Finance Education

Collusion-based lawsuits surrounding initial and seasoned offerings have been a reoccurring phenomenon. This paper offers a classroom exercise for economics and finance courses that allows students to experience the collusion phenomenon. This is achieved through simulating how underwriters and preferred clients participate in schemes of buying and selling shares of a new stock issue in order to make exorbitant profits. Students experience the consequences when excessive investor demand is not tempered with an understanding of how earning fundamentals determine security value. Most importantly, students gain insight into the ethical responsibilities of those involved in the security issuance process.

Collaboration Of Economic Institutions Based On Empowerment Programs To Strengthen Food Security: The Case Of Laying Hens In North Gorontalo, Karin Safitri

Jurnal Administrasi Bisnis Terapan

This study analyzes the role of economic institutional cooperation in strengthening food security through the development of laying hen farming in North Gorontalo Regency. Eggs are positioned as a strategic animal food due to their nutrient density and affordability for households, while also being relevant to the agenda of improving nutritional status through government programs. This study examines how the synergy of village and community institutions (e.g., Village-Owned Enterprises, cooperatives, and livestock groups) with regional livestock empowerment programs (e.g., the 2 Goats 10 Chickens/G2-10 Movement) and the national Free Nutritious Meals (MBG) program can strengthen production capacity, expand the farmer …

From Bad Apples To Zombies? Walking Dead Leadership In The Contemporary University, Tara Brabazon

Fast Capitalism

Leadership remains an open sewer of assumptions, ego, platitudes and potential. When contextualized within an international university sector struggling and grasping to find a purpose, leadership becomes toxic and dangerous. This article reactivates, challenges and then transforms Ulrich Beck's zombie concept and applies it to university leadership, management and administration. I probe the renegotiation of power and identity, with particular attention to recent scandals and appointments of university ‘leaders.' This article also signals a movement from cosmopolitan sociology to claustropolitan cultural studies, repositioning leadership in universities at the end of the world.

Author Biography

Tara Brabazon, Dean of Graduate Research …

The Revolution On Facebook: Political Education On Social Media Through Nonformal Andragogical Communities Of Practice, Donald Moen

Fast Capitalism

This paper considers political education through nonformal communities of practice on social media. While formal and informal classroom environments remain important in the 21st century, most adult learning occurs in the nonformal context. Communities of practice on social media provide substantial knowledge dissemination and identity-defining communities of practice, also furnishing the opportunity for praxis. Communist Facebook groups provide communities of practice through knowledge dissemination, community membership, and praxis. This paper defines who these groups are, what they do, how they differ from other groups, their education and tools, how they exist outside of state control, and how they fit inside …

Uk And The 'Razor-Wire Humanitarianism': The Refugee Crisis And The Aesthetic Of Violence, Yasmin Ibrahim

Fast Capitalism

When the 'refugee crisis' in Calais became an issue of renewed concern in the summer of discontent in 2015, UK's reticent stance towards the crisis was captured through its measured approach. A notable riposte from the then Home Secretary, Theresa May, was to send in yet more security fencing to fortify the borders in Calais to assuage the disaffect from the truckers and the public. Dubbing this as UK's 'razor wire humanitarianism', the paper examines how the material artefact of the razor wire is implicated in the aesthetic of violence towards the refugee and migrant bodies in the camps of …

The Politics Of Curiosity, Eva-Maria Swidler

Fast Capitalism

Curiosity, a simultaneously intellectual and emotional phenomenon, is surprisingly unstudied, yet pivotal for social critics and activists to understand. While recognizing curiosity as frequently positive and necessary for creating new solidarities and political movements, it also considers the social and political roots and consequences of incuriosity, apathy, and ignorance, including such topics as willful apathy as cultural resistance and self-defense, ignorance as an ethical choice, incuriosity as arrogance, and the generalized anxiety of neoliberal society and the shrinking of curiosity.

Author Biography

Eva-Maria Swidler, Curtis Institute of Music

Eva Swidler is an environmental historian and political economist with additional interest …

Covid-19 Enters College But To What Degree?, Christopher Willard

Fast Capitalism

This article considers the potential long term implications of university emergency responses to Covid-19. While empathetic responses are important in a time of crisis, emergency measures should not necessarily entail the infringement of or the abandonment of rights articulated in existing policies, procedures, collective agreements, or contracts. Areas of particular vulnerability include academic freedom, faculty workload, and intellectual property rights. The author also suggests that crisis responses by higher education may be seen as more of an intensification of neoliberal pressures than as signaling new pressures from the pandemic alone.

Author Biography

Christopher Willard, Alberta University of the Arts

Christopher …

Was Karl Marx An Ecosocialist?, Carl Boggs

Fast Capitalism

Author Biography

Carl Boggs, National University

Carl Boggs is the author of many books in the fields of critical social theory, American politics, U.S. foreign policy and military history, film studies, and ecology. After receiving his Ph.D. at U.C., Berkeley he taught at Washington University in St. Louis, Carleton University in Ottawa, UCLA, USC, and U.C., Irvine. He is currently professor of social sciences at National University in Los Angeles. He is a regular contributor to the magazine CounterPunch, is a member of the executive board of the Global Studies Association, and is involved with such journals as Theory …

Panic Learning Off (And On) The Covid Campus, Tara Brabazon, Jamie Quinton, Narelle Hunter

Fast Capitalism

Online learning has been flooded with platitudes, promises and possibilities for twenty years. Oversold and undertheorized, online learning reached its "moment' through the Covid lockdown. Underprepared staff and underfunded universities implemented online learning in a crisis. This was a zombie apocalypse of a context in which to summon innovation. This article activates Paul Virilio's University of Disaster to explore the COVID campus and classroom, entering panic learning.

Author Biographies

Tara Brabazon, Dean of Graduate Research / Professor of Cultural Studies Flinders University

Tara Brabazon is the dean of graduate research and professor of cultural studies at Flinders University, Australia, fellow …

Contemptable Safety: Coronavirus, Neoliberalism, And The Moral Value Of Universities, Mark K. Ryan

Fast Capitalism

Author Biography

Mary K. Ryan, Washington & Jefferson College

Mary K. Ryan is an Assistant Professor of Political Science and Director of the Public Policy Program at Washington & Jefferson College. Mary received her Ph.D. in Social, Political, Ethical, and Cultural Thought from Virginia Tech. Mary's research on race, inequality, social justice, and democracy includes chapters in Poverty in American Popular Culture (McFarland); Protecting Whiteness: Whitelash and the Rejection of Racial Equality (University of Washington Press); Critical Insights: Civil Rights Literature Past and Present (Salem); Surveillance, Race, Culture (Palgrave Macmillan); and Spaces of Surveillance (Palgrave Macmillan) as well as journal …

The Pandemic Preferred User, Katie Ellis, Kai-Ti Kao, Tim Pitman

Fast Capitalism

As COVID-19 was declared a pandemic, universities acted quickly to move their core business of teaching and research online. Classes shifted to platforms such as Zoom, Webex, Collaborate and Microsoft Teams and teachers and students alike were expected to adapt. And they did. While there has been much discussion of the unpaid labour involved in making this shift and the difficulties inherent in merging work, study and domestic life, there has been little acknowledgement or analysis of inherent notions of the preferred user in this rapid shift to technology.

This paper draws on critical disability studies to offer a conceptual …

Capitalism, Racism, And Trumpism: Whitelash And The Politics Of Oppression, David G. Embrick, J. Scott Carter, Cameron Lippard, Bhoomi K. Thakore

Fast Capitalism

That the rising tide of fascism, headwinds of neoliberalism, or persistence of racism in the United States is institutional, systemic, and part of a long history of oppression towards various groups is not new news. The bigger question is how we got to a point in which overt manifestations of racism, sexism, faux democracy, and other forms of illegality and authoritarianism has once again become normalized. What does it mean when a sitting President claims that Mexican immigrants are rapists, criminals, and drug runners? How did we get to a point where we, collectively, are not as outraged as we …

Donald J. Trump And The Politics Of Democratic Dysfunction, Cary Fraser

Fast Capitalism

The United States has entered a profound crisis of governance and governability following the impeachment of Donald Trump by the House of Representatives and, after a parody of a Senate trial, was acquitted - to remain in office by the Senate controlled by a Republican majority. This essay seeks to analyze both the origins and context of the contemporary conundrum where one of the world's oldest representative systems of government has entered a phase of democratic dysfunction. Donald Trump is an elected President – on the basis of a minority of the popular vote cast in 2016 – who has …