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2026

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Full-Text Articles in Economics

Beyond Grades: Using Incentives To Motivate Students Jan 2026

Beyond Grades: Using Incentives To Motivate Students

Journal of Economics and Finance Education

Economists study how incentives motivate human behavior. However, besides grades, professors do not frequently employ incentives to motivate students in the classroom. This may be because expenses associated with classroom incentives often remain unreimbursed or because other implementation costs are high. In this paper, we demonstrate methods educators can use to motivate student behavior while minimizing costs. We identify a range of options that include: incentives appropriate for large sections, an effective monetary incentive system suitable for smaller classes, tips for using an assortment of non-monetary incentives, and methods for leveraging social capital to motivate student learning and engagement.

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A Pedagogical Note On The Dynamics Of Capital Market Efficiency For The Introductory Finance Course Jan 2026

A Pedagogical Note On The Dynamics Of Capital Market Efficiency For The Introductory Finance Course

Journal of Economics and Finance Education

Introductory finance textbooks commonly address capital market efficiency from a largely static perspective with little or no attention to the dynamics that bring the price of a security into equality with its intrinsic value. This note offers a simple pedagogy to illustrate the process by which capital market efficiency will return a stock’s price to equal its true value and simultaneously bring the expected rate of return on the stock into equality with the market’s required return.

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Portfolio Optimization Incorporating The Capital Allocation Line: A Comprehensive Undergraduate Investments Course Project Jan 2026

Portfolio Optimization Incorporating The Capital Allocation Line: A Comprehensive Undergraduate Investments Course Project

Journal of Economics and Finance Education

This paper covers a project in which beginning investment students collect price and dividend data and calculate various returns for five companies, a fund and the stock market. After forming a portfolio they calculate risk measures, determine Jenson’s alpha, Sharpe and Treynor values and the return based on the Capital Asset Pricing Model. The students calculate two-stock frontiers and a frontier comprised of potentially all five stocks, incorporate the Capital Allocation Line (CAL) and determine the optimal portfolio. Finally, they calculate dollar amounts to invest in the riskless asset and risky stocks to accomplish dominant points on the CAL and …

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Using Bloomberg Terminal In Corporate Finance Courses Jan 2026

Using Bloomberg Terminal In Corporate Finance Courses

Journal of Economics and Finance Education

In this paper, we explore the use of the Bloomberg Professional data service in teaching corporate finance subjects. Integrating the Bloomberg service with teaching enables corporate finance faculty to improve teaching effectiveness and helps business schools meet the Advance Collegiate Schools of Business (AACSB) standards. Following essential corporate finance topics outlined in frequently adapted textbooks, we present detailed information on how to collect useful information and data from Bloomberg to assist the teaching of these topics.

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Financial Literacy In The Community College Classroom: A Curriculum Intervention Study Jan 2026

Financial Literacy In The Community College Classroom: A Curriculum Intervention Study

Journal of Economics and Finance Education

Urban Community College asked the Federal Reserve Bank of St. Louis to develop a financial literacy curriculum unit for its New Student Course. The unit was taught in 62 randomly selected sections, with 31 of those serving as the control group. We evaluated the effectiveness of the unit based on student pre-test and post-test scores. We found that student pre-test scores, academic ability, teacher experience, and participation in the unit were statistically significant predictors of student post-test scores. On average, students taught the financial literacy curriculum unit scored about 7 percentage points higher than students who were not.

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Honor Codes And Perceptions Of Cheating Jan 2026

Honor Codes And Perceptions Of Cheating

Journal of Economics and Finance Education

To reduce cheating and strengthen honor codes, penalties for violations and enforcement have been enhanced, but the outcomes of those actions are uncertain and academic dishonesty remains a concern. Research affirms widespread cheating and no clear remedy exists. We analyze how a change in an honor code can impact academic dishonesty. We find an increased awareness and vigilance to prevent cheating by students may lead to a reduction in cheating through an increase in the certainty of punishment. Moving from an honor policy toward a traditional honor code is only one step in creating a culture of honesty.

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What Cosmo Kramer Can Teach Us About Optimal Stopping Times Jan 2026

What Cosmo Kramer Can Teach Us About Optimal Stopping Times

Journal of Economics and Finance Education

The real option literature on investment provides insights into firms’ decisions to enter and exit markets. This literature emphasizes the role of fixed costs of entry, the salvage value of exit, and uncertainty. A major implication of this literature is that it is often optimal to wait. Nonetheless, since the overwhelming majority of this literature uses models with uncertainty, students are often unclear as to the role of each of these components in determining the value of the option to wait. In this paper, I explain the role of uncertainty and costs/salvage value by considering the question: “When is it …

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Shifts In Supply And Demand And The Corresponding Changes In Equilibrium Price And Quantity: Explaining The Process Jan 2026

Shifts In Supply And Demand And The Corresponding Changes In Equilibrium Price And Quantity: Explaining The Process

Journal of Economics and Finance Education

Most textbooks are incomplete or potentially confusing in their treatment of the dynamic process resulting from a change in demand or a change in supply. While they are not incorrect in their comparative statics results, they can leave students unclear about the process involved. The authors suggest an approach that addresses the deficiency.

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Teaching Collective Action Problems Without Contextual Bias: The Red/Green Simulation Jan 2026

Teaching Collective Action Problems Without Contextual Bias: The Red/Green Simulation

Journal of Economics and Finance Education

Collective action problems are at the heart of many economic issues. Often, students have trouble comprehending how society ends up with a less than optimal outcome, and may incorrectly assume that someone must want the outcome that occurs. Correcting this error is made difficult by the biases that students bring to these issues. The Red/Green simulation demonstrates the tension between self-interest and the social good in a context-free manner allowing students to see that these sub-optimal outcomes may not be desired by anyone, but instead can result from unhealthy systems of incentives.

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Presenting Economic Sanctions In The Classroom: The Case Of Iran Jan 2026

Presenting Economic Sanctions In The Classroom: The Case Of Iran

Journal of Economics and Finance Education

The Iran Deal’ ended long standing sanctions levied against Iran by the United States, European Union and United Nations in 2015 for dismantling its nuclear program. This paper presents an approach to teaching economic models of sanctions, and applies it in the context of lifting Iranian sanctions. We start with a simple production possibilities frontier approach to analyzing sanctions, followed by welfare analysis of import and export restrictions on US and Iranian economies. The paper provides a presentation and links to useful resources that can be used by instructors teaching undergraduate courses in introductory economics, intermediate microeconomics and international economics.

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Economics Of The World Beyond The Textbook: Two Methods For Teaching Jan 2026

Economics Of The World Beyond The Textbook: Two Methods For Teaching

Journal of Economics and Finance Education

Visiting historical sites, local markets, or businesses can help students in an economics class connect abstract ideas to three-dimensional realities. We relate our experience with two types of trips: one focused on regional history and one in which students visited representative businesses. With some guided questions, the students are able to identify the forces of supply and demand at work in their own lives and communities.

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Dollars Per Pound Or Pounds Per Dollar? Using The Kumon Method To Increase Student Understanding Of Topics In International Finance Jan 2026

Dollars Per Pound Or Pounds Per Dollar? Using The Kumon Method To Increase Student Understanding Of Topics In International Finance

Journal of Economics and Finance Education

In this work I use the Kumon method in International Finance to help students become proficient on basic course topics. This lets them achieve a stronger foundation and allows them to focus on more complex course topics without struggling with the basics. Students improve their skills on the basic course topics using the Kumon-type worksheets. The majority agreed that the worksheets helped their overall understanding of International Finance.

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What “The Simpsons” Can Teach Us About Sports Economics Jan 2026

What “The Simpsons” Can Teach Us About Sports Economics

Journal of Economics and Finance Education

This paper provides an insight into the teaching of economics. Using sport and The Simpsons one can do some of the heavy lifting when teaching the subject, as these topics generally engage students and provide ample analogies from which one can explore and discuss key economic concepts. The paper does not seek to provide a deep examination of the economics of sport, but merely to illustrate how The Simpsons and sport can be used to teach fundamental economic concepts.

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The Influence That Time Costs And Money Costs Have On Work Incentives: An Application Of Childcare Subsidies Jan 2026

The Influence That Time Costs And Money Costs Have On Work Incentives: An Application Of Childcare Subsidies

Journal of Economics and Finance Education

When deriving an individual's labor supply curve, most labor economics textbooks ignore any monetary or time costs associated with working. However, students realize that this assumption is not realistic, particularly for working parents who have children in daycare. The author presents an analysis of how both monetary and time costs associated with working influences an individual’s reservation wage. Additionally the author compares how the aggregate supply of hours offered within a firm is influenced by that firm adopting a childcare subsidy benefit that either reduces the monetary costs or time costs associated with have a child in daycare.

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Using Twitter To Improve Student Writing Jan 2026

Using Twitter To Improve Student Writing

Journal of Economics and Finance Education

The economics pedagogy literature concerning the use of social media in the classroom is rapidly growing. This paper adds to the literature by providing initial evidence of the potential impact of using Twitter to improve writing about economics. Writing assignments before and after a series of Twitter assignments coupled with prompt feedback are utilized. A Principles of Macroeconomics course and two sections of an Intermediate Microeconomics course from two different institutions are used in the analysis.

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Textbook Confessions: Of Failures, Markets, And Government Jan 2026

Textbook Confessions: Of Failures, Markets, And Government

Journal of Economics and Finance Education

Most undergraduate students come into contact with an economics class only in passing. The textbook will thus be the basis for their economic understanding, and what is included in these books will have a large influence on how they view the workings of the overall economy. Guided by the Council for Economic Education’s Voluntary National Content Standards, we show that most textbooks cover more extensively market failure than government failure, or even the government role as protector of property rights. We believe a more balanced approach provides an accurate view of the role government should play in a vibrant economy.

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Helping Students Crack Annuity, Perpetuity, Bond, And Stock Valuation Formulas Jan 2026

Helping Students Crack Annuity, Perpetuity, Bond, And Stock Valuation Formulas

Journal of Economics and Finance Education

Mainstream finance textbooks present valuation formulas of annuities, perpetuities, stocks, and bonds, but the texts seldom explain the story behind them, leaving students in the dark about why these formulas work. The aim of this paper is to illuminate the black box of these formulas, thus helping finance instructors and students truly understand them. Starting from the basic valuation principle, we can reach each of these seemingly daunting formulas via a few simple algebraic steps. When students reach their “Ah-ha” moment at the end of each derivation, it motivates them and subsequently boosts their interest and confidence in learning Finance.

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Using The Fred Excel-Based Application To Improve Learning Outcomes In Economic Courses: From Student To Practitioner Jan 2026

Using The Fred Excel-Based Application To Improve Learning Outcomes In Economic Courses: From Student To Practitioner

Journal of Economics and Finance Education

This paper describes active learning strategies utilizing the recently developed FRED Excel-based application to bridge the gap between economic theory and empirics. The FRED Excel-based application permits students to collect, manipulate, and plot macroeconomic data within Excel. We propose using this application as a tool for students to test economic theories using real world data. We maintain that this learning-by-doing strategy is an effective way to improve learning outcomes in undergraduate economic classes. To illustrate the ease and benefits of using the FRED Excel-based application to support standard economic theories, we provide several sample assignments specific to an intermediate macroeconomics …

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Discounting At The Spread And Growing Annuities: A Note Jan 2026

Discounting At The Spread And Growing Annuities: A Note

Journal of Economics and Finance Education

In this note, the relationship between the present value and future value of growing annuities using the “discounting at the spread” method is exhibited. In addition, the work of Hall (1996) is extended, demonstrating a calculator solution for the future value of a growing annuity.

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A Graphical Approach To Teaching The Capital Asset Pricing Model (Capm) In Introductory Finance Courses Jan 2026

A Graphical Approach To Teaching The Capital Asset Pricing Model (Capm) In Introductory Finance Courses

Journal of Economics and Finance Education

The relationship between risk and return is necessarily an important aspect of introductory finance courses. The Capital Asset Pricing Model (CAPM) is generally taught as the cornerstone model for measuring expected return given systematic risk as measured by beta, the market’s risk-free rate, and the market risk premium. In this paper, I demonstrate a graphical method of building up to, and introducing, the concept of the CAPM. Students generally find this method to be intuitive and helpful in understanding the concepts of correlation, diversification, efficient frontier, risk vs return, and CAPM.

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Art Of Econ: Incorporating The Arts Through Active Learning Assignments In Principles Courses Jan 2026

Art Of Econ: Incorporating The Arts Through Active Learning Assignments In Principles Courses

Journal of Economics and Finance Education

Research has shown that, at the principles level, economics education relies predominantly on lectures for teaching. Introducing differentiated teaching by leveraging active learning provides a way for economics educators to increase students overall understanding and to assess competency at a higher level. In this paper, we provide instructors with a range of active learning assignments with relatively low costs for all participants. These assignments utilize a variety of economics-themed creative projects, which require students to determine which information is essential, use economics language clearly and precisely, and create deliverables that engage the audience with classroom material using an innovative approach.

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Predictors Of Success In An Online Undergraduate Core Course In Finance Jan 2026

Predictors Of Success In An Online Undergraduate Core Course In Finance

Journal of Economics and Finance Education

Because finance is a technically oriented business subject where competence in math and accounting plays a role in student success, we posit that technical knowledge, as proxied by math and accounting pre-tests, may predict success in an online undergraduate finance course. Since little or no lecture support is generally offered while taking an online course, students that struggle with math or accounting may have a greater challenge with the online format for a finance course. Accordingly, the purpose of this study is to evaluate the key determinants of success in an online core course in finance.

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Finding The Efficient Frontier: An Exercise For Finance Students Jan 2026

Finding The Efficient Frontier: An Exercise For Finance Students

Journal of Economics and Finance Education

Finance textbooks and classroom instructors often show that the set of mean/variance efficient portfolios can be plotted on a graph with the outer edge forming a hyperbola. Our exercise does this on an Excel spreadsheet with realworld data from asset classes that students get to choose. The spreadsheet calculates minimum portfolio standard deviations, the minimum variance portfolio, and the mean/variance efficient portfolio. These values are all graphed in mean/variance space, resulting in the familiar hyperbola. Portfolio constraints can be inserted as well. Students learn how to construct efficient portfolios and the effects of constraints while using real-world data.

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Simulation Of Binomial Trees For Exotic Option Pricing Using Excel Jan 2026

Simulation Of Binomial Trees For Exotic Option Pricing Using Excel

Journal of Economics and Finance Education

Option pricing can be presented in a variety of ways to students learning the subject for the first time, ranging from solution of the Black Scholes formula to approximations using Binomial trees. This article shows how an Excel spreadsheet may be used to illustrate the principle of risk neutral pricing through the simulation of random share price paths through the nodes of Binomial trees. By observing such random path prices through a binomial tree, the particular features of different types of options may be more readily appreciated. The method is illustrated with an application to plain vanilla calls and puts, …

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Obtaining Consistent Corporate Valuations Jan 2026

Obtaining Consistent Corporate Valuations

Journal of Economics and Finance Education

In an introductory finance course, students are introduced to the concept of equity valuation in the form of the constant growth dividend discount model. In advanced courses they are exposed to additional valuation approaches such as free cash flows, adjusted present value, residual earnings and economic profit models. Unfortunately students do not have the opportunity to go beyond the calculations and learn the basic assumptions of each model that will lead to consistent valuations regardless of which model they choose. In this paper, we value an example company using 6 models that lead to identical equity values.

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Using Student Produced Video Clips In Class Jan 2026

Using Student Produced Video Clips In Class

Journal of Economics and Finance Education

The author describes a teaching method using video clips of students teaching other students important economic concepts in class. This paper discusses the use of student- made videos to explain difficult concepts in economics. This simple exercise may offer an effective learning tool for a number of difficult concepts that students often struggle to master in the principles class.

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Use Of Review Videos To Reinforce Basic Concepts In Economics Jan 2026

Use Of Review Videos To Reinforce Basic Concepts In Economics

Journal of Economics and Finance Education

Short, weekly review videos were incorporated into two sections of introductory Microeconomics. These videos represent a form of technology for students to review concepts already covered, rather than in the initial teaching of material. The purpose of these videos was to improve the knowledge and comprehension levels of learning for the material, thus providing space for increased breadth and depth in the classroom. Students in the class had a positive reception to the video, as show in the high level ofutilization throughout the semester. Additional analysis did not find a statistically significant impact on student performance.

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Mimic Excel Jan 2026

Mimic Excel

Journal of Economics and Finance Education

Although Excel is an excellent tool to teach finance, some of its properties really confuse my students, such as its sign convention and no clear explanation accompanying an error message. In addition, typing =fa(0.1,2,0,100) offers no clue about the formula being used. In this short paper, I will replicate several common Excel functions with and without sign convention. The beauty of functions without sign convention is that they come directly from our textbooks. In other words, an exact formula will accompany a result. When typing =rateExcel(3,10,100), we will see the same error message plus a short explanation.

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Common Resource Bargaining: A Collective-Action Game Jan 2026

Common Resource Bargaining: A Collective-Action Game

Journal of Economics and Finance Education

We present an intuitive, time-efficient common pool resource game set in a flexible framework that illustrates collective-action conflicts. The game's interactions demonstrate that not all economic markets yield privately or socially efficient results. Students own tracts of land with access to oil. In the first (optional) stage, students manage the resource rights; in the second stage they make resource extraction decisions. Students' understanding of markets deepens via the conflicts from interdependency versus incentives in common resource allocation. Economic issues addressed include collective action, contracting problems, game theory and externalities.

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Utilizing Fantasy Sports To Enhance Student Learning Jan 2026

Utilizing Fantasy Sports To Enhance Student Learning

Journal of Economics and Finance Education

Over the past 20 years, participation in fantasy football has increased dramatically. During this timeframe, many universities have encouraged instructors to diminish the importance of the traditional "lecture format" in the classroom. Many institutions have begun to insist that the most effective teaching involves active student participation rather than one-way communication (Rocca 2010). This paper discusses the implementation of a semester-long fantasy football exercise that is primarily designed to require students to demonstrate their understanding of strategic management and basic economic principles by mandating they apply those principles to situations such as an auction draft and labor disputes.

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