Social and Behavioral Sciences Commons^™

Enhancing Economics And Finance Learning Through Automated Grading Of Spreadsheet Exercises, Douglas M. Kline, Thomas Janicki

Journal of Economics and Finance Education

Instructors of undergraduate courses in economics and finance as well as other business school courses are increasing turning to spreadsheet applications to reinforce concepts presented in the classroom. As the number of exercises increases in these courses the grading and management of the assignments become an overwhelming burden. This teaching note discusses five techniques that were implemented to increase the number of learning exercises, while decreasing the instructors grading time and the opportunity for plagiarism. The key success factor was to implement an automatic grading program for Microsoft Office products reducing grading timing and plagiarism while increasing objectivity in the …

A Pedagogical Note On The Derivation Of Option Profit Lines, Hassan Shirvani, Barry Wilbratte

Journal of Economics and Finance Education

This paper presents a simple graphic method of deriving profit lines for complex option strategies which obviates the need for numerical calculations used in finance textbooks. Having mastered the underlying profit lines associated with simple option and stock investments, students can derive profit lines for complex strategies by following two simple graphic addition rules proposed in this paper. While these rules appear in elementary math books, most finance textbooks either ignore them completely, or apply them only implicitly without explaining their derivation. The result is that the teaching of option profit lines tends to become an unnecessarily arduous exercise.

What We Should (Not) Teach Students About Interest Rate Determination, T. Windsor Fields, William R. Hart

Journal of Economics and Finance Education

There are two general approaches to interest rate determination--Liquidity Preference and Loanable Funds. The standard textbook treatment usually presents these two approaches as if they were two ways of doing the same thing. Textbook authors then switch back and forth between the two approaches depending on which seems better suited for the problem at hand. We argue in this paper that the choice between these two approaches does matter. You simply can’t have it both ways—either the interest rate is determined in the money market or in the loanable funds market, but not both.

Improving The Coverage Of The Dupont Approach Of Financial Analysis In Finance Courses Through The Use Of The Net Leverage Multiplier, Robert J. Angell, Betty L. Brewer

Journal of Economics and Finance Education

This paper points out a deficiency in the coverage of the DuPont system of financial analysis in most finance textbooks and provides an alternative that more accurately aligns the analytical measures to the factors affecting a firm’s return on equity. Furthermore, we analyze data on firms to determine the extent to which the recommended alternative differs from the “standard” measures.

Enhancing Clarity And Completeness Of Basic Financial Text Treatments On Operating Leverage, Halil Kiymaz, Robert Hodgin

Journal of Economics and Finance Education

We review degree of operating leverage (DOL) discussions from nine current elementary finance textbooks and note incomplete treatments. We argue that textual discussions on DOL could aid the beginning student’s understanding by noting, in addition to fixed costs, the impact of other variables (unit variable costs, unit price, short-run output level). We further suggest that complete treatments should reference how the DOL measure fits into the larger business risk context, point to management’s role in influencing selected DOL variables as business risk parameters, and mention the measurement discontinuities of DOL at breakeven and profit maximizing output levels.

The Price Of Success: The Demand For An “A” In Economics Principles, Norman Cloutier, Dennis Kaufman

Journal of Economics and Finance Education

The demand for grades is an engaging topic for economics students. This study surveyed students to determine the maximum price they would be willing to pay for a grade of “A.” Survey results were utilized to estimate a well-behaved demand function and demonstrate basic principles of demand and elasticity. A probit model revealed that student demand conforms to economic theory, and in particular, that willingness to bid is associated with student financial endowments and “taste” for a purchased “A.” Significant gender differences were discovered; males were both more likely to bid and to be influenced by financial and intellectual endowments.

The Complete Set Of Explicit Yield To Maturity Formulas, Ricardo J. Rodriguez

Journal of Economics and Finance Education

Obtaining general explicit yield to maturity (YTM) formulas is feasible for coupon bonds with integer maturities of less than five periods but, surprisingly, the literature lacks such formulas for three- and four-period bonds. I fill this void by providing the complete set of integer-maturity YTM formulas. Although the new formulas are unwieldy, they may be computationally advantageous over iterative methods of finding the YTM. Indeed, I present simulations indicating that the three-period YTM formula may require as little as one-third of the computation time needed with trial and error methods. Similarly, the four-period formula also produces substantial computational savings.

A National Survey Of Teaching Methods In Advanced Placement Economics Courses: More Chalk And Talk?, Dennis L. Placone, Claire Melican

Journal of Economics and Finance Education

Becker and Watts conducted national surveys in 1995 and 2000 of those teaching economics at post-secondary institutions to investigate teaching methods used in undergraduate courses. Surveys similar to Becker and Watts were sent to AP economics teachers. We compare the teaching methods used in college classes with those used by AP teachers. Compared to principles courses in economics offered at the colleges, the typical high school AP Economics class has a smaller number of students, the teachers are more likely to use classroom discussions and the high school teachers use lectures less often than do college instructors of economics.

A Project For The Introductory Financial Management Course Designed To Involve Students With Online Financial Information And Analytical Tools, James B. Pettijohn, Gay A. Ragan, Kent P. Ragan

Journal of Economics and Finance Education

Finance-related websites have proliferated, and students have become more Internet-savvy with increasing usage of the World Wide Web. Furthermore, finance professionals regularly use such finance-related websites (Association for Financial Professionals 2002). Given these facts, in this paper we demonstrate efficient and effective ways to use a semester-long, yet manageable, Internet-based research project designed to involve students with online financial information, data, and analytical tools, while reinforcing topics encountered in the typical introductory financial management course. We also suggest how to use pedagogically-sound practices to systematically alter the complexity of the project, and use a scoring guide to simplify grading.

Rewilding The Built Environment: Navigating Economic, Political, And Social Barriers To Urban Ecological Restoration, Carly E. Smith

PANDION: The Osprey Journal of Research and Ideas

Urban rewilding offers a nature-based approach to restoring ecological processes in cities while advancing climate resilience, biodiversity, and public well-being. Unlike conventional green infrastructure, rewilding allows ecosystems to develop with minimal intervention, emphasizing succession, complexity, and long-term adaptability. This paper examines the political, economic, and social factors that frame how rewilding is understood and implemented in urban planning. Governmental frameworks often prioritize order, predictability, and short-term results, making it difficult to accommodate the uncertainty and ecological complexity that rewilding requires. Economic models struggle to capture its long-term value, frequently overlooking ecosystem services or reconciling competing land uses. Social perceptions of …

Worker Rights In Collective Bargaining, Benjamin W. Arold, Elliott Ash, W. Bentley Macleod, Suresh Naidu

Cowles Foundation Discussion Papers

Collective bargaining agreements (CBAs) specify the contractual rights of unionized workers, but their full legal content has not yet been analyzed by economists. This paper develops novel natural language methods to analyze the empirical determinants and economic value of these rights using a new collection of 30,000 CBAs from Canada in the period 1986-2015. We parse legally binding rights (e.g., “workers shall receive. . . ”) and obligations (e.g., “the employer shall provide. . . ”) from contract text, and validate our measures through evaluation of clause pairs and comparison to firm surveys on HR practices. Using timevarying province-level variation …

Understanding Film Tax Credits In Nevada And Nationally, Michael J. Brown, David F. Damore, William E. Brown Jr.

Policy Briefs and Reports

This policy primer provides an overview of Nevada’s transferable tax credit program for film and other productions and reviews articles, reports, audits, and studies of film tax credits as a tool for economic development in the United States. This review considers a significant body of work analyzing the use of film tax credits in support of economic development. Studies and state audits often show that because film tax credits do not create the number and quality of full-time jobs necessary to merit their costs and do little to stimulate other related industries, they are a poor financial choice for state …

Economic Growth In Mountain West Cities, 2019-2023, Anirudh Polagani, Isabelle G. Graham, Olivia K. Cheche, Kristian Thymianos, William E. Brown Jr.

Economic Development & Workforce

This fact sheet presents 2019-2023 data on economic growth indicators in 32 Mountain West cities across Arizona, Colorado, Nevada, New Mexico, and Utah. The CoworkingCafe report, “Rising Powerhouses: The Cities Making America’s Economic Future,” includes economic growth data for 269 cities across the United States. This fact sheet highlights data from select cities in each Mountain West state, categorized by population size: five large cities, eight mid-sized cities, and 19 small cities.

Migration And U.S. Labor Market Effects Of The Mexican Drug War, Mark Borgschulte, Yuci Chen, Eduardo Medina-Cortina

Upjohn Institute Working Papers

We estimate the effect of the Mexican drug war on Mexico-to-U.S. migration and the resulting effects on population, employment, and wages in U.S. labor markets. Our empirical strategy compares U.S. counties differentially connected to Mexican municipalities through historical migration networks, using drug violence triggered by close municipal elections in 2007–2008 as a source of exogenous variation. Over the following decade, migrants fleeing the violence—the vast majority of whom are undocumented—cause native-born U.S. workers’ employment rates to increase and unemployment rates to fall, while wages do not change. Employment gains are largest for natives without a college degree. Employment effects fade …

Exploring The Impact Of Guangdong Province's Talent Policies On The Retention Of Fresh Master's Graduates For Employment In Guangdong, Kai Hong Sun

Lingnan Theses (Doctoral degree)

University graduates' choice of local employment serves as a core driver for promoting regional economic innovation, by effectively meeting corporate talent demands and injecting high-quality talent resources into regional development. This dynamic holds strategic significance for sustaining regional economic growth and fostering social stability. Talent policies attract graduates to local employment by offering preferential conditions and development opportunities while advancing their career growth and achieving mutual benefit and win-win outcomes for both talent and regions. Investigating the influence of talent policies on graduates' employment location decisions holds practical relevance in the current context.

This research examines the mechanisms through which …

Understanding Rice Production Stagnation In The Philippines: Regional Evidence And Development Implications, Henry Bartelet, Alenn Jhulia D. Prodigalidad, Janelle S. Dy, Jan Gabriel N. Manzano

Quantitative Methods and Information Technology Faculty Publications

Despite decades of investment in agricultural research and rice development, the Philippines continues to face stagnation in domestic rice production. This persistent trend, occurring despite a sizable arable land base and large rural workforce, has contributed to the country’s growing reliance on rice imports to meet national food needs. In response, the government has implemented a tariff-based import system designed to fund domestic productivity improvements. While previous studies have explored the technical and environmental constraints affecting rice production, such as irrigation shortfalls, land degradation, and climate variability, few have examined recent national trends using regionally disaggregated data alongside qualitative insights. …

Object Play In Tsimane Children: Implications For Sex-Specific Division Of Labour, Ava Moser, Michael D. Gurven, Hillard Kaplan, Benjamin C. Trumble, Jonathan Stieglitz, Paul Hooper, Daniel Cummings, Adrian Jaeggi, Kathelijne Koops

ESI Publications

Sex-specific division of labour and the associated use of different subsistence techniques by males (e.g. hunting) and females (e.g. gathering) has played an important role in shaping human societies. Skills needed in adulthood are practiced in play during childhood and object play has been proposed to foster tool-use skills necessary for adult subsistence techniques. Here, we investigated sex differences in the ontogeny of object play in Tsimane children in Bolivia to understand its potential role in shaping gender-specific adult roles. We used observational data (>80,000 scan samples) from nine Tsimane communities collected between 2002 and 2007. We analysed age …

Slim: Stochastic Learning And Inference In Overidentified Models, Xiaohong Chen, Min Seong Kim, Sokbae Lee, Myung Hwan Seo, Myunghyun Song

Cowles Foundation Discussion Papers

We propose SLIM (Stochastic Learning and Inference in overidentified Models), a scalable stochastic approximation framework for nonlinear GMM. SLIM forms iterative updates from independent mini-batches of moments and their derivatives, producing unbiased directions that ensure almost-sure convergence. It requires neither a consistent initial estimator nor global convexity and accommodates both fixed-sample and random-sampling asymptotics. We further develop an optional second-order refinement and inference procedures based on random scaling and plug-in methods, including plug-in, debiased plug-in, and online versions of the Sargan–Hansen J-test tailored to stochastic learning. In Monte Carlo experiments based on a nonlinear EASI demand system with 576 moment …

Just Cause Protection Under Manager Discrimination, Joseph Pickens, Aaron Sojourner

Upjohn Institute Working Papers

“Just cause” policies aim to discourage the arbitrary firing of employees. Recent efforts at passing such laws in the U.S. have been motivated by deterring discrimination. This paper presents a framework to study the effects of just cause when managers engage in taste-based discrimination. The framework generates predictions on whether just cause will ease achievement and retention of stable employment by exploiting the timing of separations around a probationary period. Since probationary periods are a typical feature of protections, the approach is generalizable. We test predictions using New York City’s 2021 just cause law for fast-food employees. Using a synthetic …

Nyc’S “Just Cause” Law Aims To Make It Harder To Fire Fast Food Workers. Does It?, Joseph Pickens, Aaron Sojourner

Upjohn Institute Policy and Research Briefs

No abstract provided.

Local Overidentification And Efficiency Gains In Modern Causal Inference And Data Combination, Xiaohong Chen, Haitian Xie

Cowles Foundation Discussion Papers

This paper studies nonparametric local (over-)identification, in the sense of Chen and Santos (2018), and the associated semiparametric efficiency in modern causal frameworks. We develop a unified approach that begins by translating structural models with latent variables into their induced statistical models of observables and then analyzes local overidentification through conditional moment restrictions. We apply this approach to three leading models: (i) the general treatment model under unconfoundedness, (ii) the negative control model, and (iii) the long-term causal inference model under unobserved confounding. The first design yields a locally just-identified statistical model, implying that all regular asymptotically linear estimators of …

How Fair Workweek Laws Affect Labor Markets: A New York City Case Study, Joseph Pickens, Aaron Sojourner

Upjohn Institute Policy and Research Briefs

No abstract provided.

Ten Lessons In Public–Private Partnerships To Create Good Jobs, Kathleen Bolter, Timothy J. Bartik, Brad J. Hershbein, Michelle Miller-Adams, Alfonso Hernandez, Kyle Huisman, Bridget Timmeney

Reports

No abstract provided.

Sustainable Consumption Under Structural Constraint: Insights From Indigenous Communities On The Great Plains, Glen Marshall, Rand Wergin

Mountain Plains Business Conference

Resource-constrained communities, particularly Indigenous and remote communities, remain critically understudied in the business literature despite persistent socioeconomic challenges. This study employs a mixed-methods approach to explore barriers to sustainable consumption in these resource-limited contexts. It examines consumer attitudes toward sustainability and identifies key barriers to sustainable consumption. Understanding these barriers is crucial for entrepreneurs seeking profitable and socially beneficial ventures, as well as for policymakers designing social or economic initiatives. This research provides actionable insights for tribal governments, business professionals, policymakers, and others seeking to promote sustainable economic growth, community health, and positive externalities in underserved communities.

Credit Union Member Benefits: Does Local Religiosity Matter?, Travis Davidson, Thanh Ngo, Hongxia Wang

Finance and Economics

We examine the impact of religiosity on credit union member benefits and document a positive association between local religiosity and member benefits. Members of credit unions in more religious counties enjoy lower interest rates on loans, higher interest rates on deposits, and consequently lower interest spreads. The effect varies by credit union types, and results suggest a stronger association between religiosity and member benefits for credit unions with a narrower field of membership. Further analysis indicates local religiosity is associated with improved operating performance, lower non-interest expenses, and higher quality earning assets, but increased liquidity risk. The results are robust …

If We Tear It Down, We Might Build You A New One: The Troublesome Use Of Eminent Domain And Urban Neighborhood Swimming Pools, Steven N. Waller Ph.D., James H. Bemiller

International Journal of Aquatic Research and Education

Public swimming pools are a vital part of America’s recreation and sport culture since the early 1900’s. Municipal swimming pools were initially built to provide recreation and hygiene to urban communities, regardless of race or class. However, a complex history of segregation, civil unrest, suburbanization, and funding challenges has resulted in a significant decline in public pools, depriving many communities of vital recreational spaces. In many communities, options for sustaining the operation of swimming pools have resulted in pool closures. Unfortunately, once swimming pools close, especially those in aging neighborhoods in central city areas, they are seldom resurrected. They quickly …

U.S. Water Infrastructure: Diving Into Needs And Recent Policy Developments, Joseph Kane

Brookings Scholar Lecture Series

As part of the Brookings Scholar Lecture Series, Brookings Mountain West presents a lecture titled, "U.S. Water Infrastructure: Diving Into Needs and Recent Policy Developments" by Brookings fellow in Brookings Metro, Joseph Kane. Whether providing drinking water, treating wastewater, or managing stormwater, water infrastructure in the United States spans a wide range of human-made and natural systems. In turn, the enormous scale and variety of these systems is leading to an array of challenges: aging and vulnerable infrastructure; fragmented governance and siloed planning across different geographies; a lack of financial, technical, and managerial capacity; difficulties adapting to new industrial and …

China’S Turn To Domestic-Led Growth: Replacing Consumption Taxes With Land Taxes?, Yilin Hou, Michael Kumhof, Lei Shao

Center for Policy Research

As part of its turn towards domestic-led growth China plans to stimulate consumption, including through a reduction in consumption taxes. We compare two model-based scenarios in which the revenue losses from lower consumption taxes are replaced by higher income taxes or higher land taxes. The model is carefully calibrated to recent Chinese data, including detailed fiscal data. We find that higher income taxes lead to significant losses in output and incomes, while higher land taxes lead to significant gains. These gains are increasing in the share of land in net wealth, a statistic for which better data would be invaluable.

Indiana At A Glance: County Trends, 2025 Edition, Roberto Gallardo

Purdue University Press Books

Indiana at a Glance: County Trends, 2025 Edition provides an overview of macro socioeconomic and demographic trends based on county-level data in ten-year periods in Indiana, the upper Midwest region, and the nation. Analyzing data primarily from 2013 through 2023, this book presents information that contextualizes the design and implementation of specific policies enacted by elected officials and community leaders, and reveals the impact these initiatives have on the public.

Inspired, in part, by the United States Department of Agriculture’s Rural America at a Glance reports, as well as the author’s more than twenty years of work in the field, …

Learning About Stability Of Risk Preferences, Levon Barseghyan, Francesca Molinari, Joshua C. Teitelbaum

Georgetown Law Faculty Publications and Other Works

Classical theories posit that risk preferences are stable across decision contexts. Two branches of empirical literature assess this claim. Structural approaches examine within-person consistency of model-based estimates of risk aversion, while “model-free” approaches examine within-person correlations of risky choices. We elucidate the latent structure underlying the model-free approach. Using this structure, we develop a new approach to assessing preference stability that has stronger testable implications, and we partially identify features of stability and heterogeneity of risk preferences. Our study illustrates a general principle: partial identification through minimal assumptions grounded in economic theory robustly bridges fully structural and model-free methods.