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Full-Text Articles in Economics

Utilizing Pitchbook In A Live Case Study Jan 2024

Utilizing Pitchbook In A Live Case Study

Journal of Economics and Finance Education

This article discusses how to incorporate PitchBook in a live case study for Venture Capital, Investment Banking, or Mergers and Acquisitions courses. Students conduct a live case study in which they prepare an executive summary, forecasted financial statements, and an investment pitch deck for real companies preparing to raise private capital. PitchBook provides extensive capital market data on private equity, venture capital, and merger and acquisitions data across the globe. Students utilize PitchBook to gather data critical to prepare companies to go on a “Road Show” to raise private capital.

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On The External Validation Of An Undergraduate Finance Program’S Assurance Of Learning Jan 2024

On The External Validation Of An Undergraduate Finance Program’S Assurance Of Learning

Journal of Economics and Finance Education

This study examines the assurance of learning in a finance program by analyzing the factors influencing students’ CFA Level 1 exam (CFA-L1) scores. Results show that (1) performance in CFA-L1 is explained by factors similar to those identified in studies on normalized standard examinations; (2) knowledge retention from non-Candidate Body of Knowledge (CBOK)-aligned courses is almost non-existent. The author suggests that replacing core courses with CBOK-aligned courses is the most effective way to “close the loop.” The author notes that internal validation tools (e.g., course assessments) are not useful due to systemic grade inflation and the culture of favoring soft …

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Note-Taking It Back To The Old School: Note-Taking & Student Outcomes Jan 2024

Note-Taking It Back To The Old School: Note-Taking & Student Outcomes

Journal of Economics and Finance Education

Recent research has suggested that students lack effective note-taking skills, but note-taking may improve student learning. In order to promote meaningful learning, a small investment in note-taking instruction may be a valuable use of scarce classroom time. We implement a randomized experiment to assess the effect of note-taking instruction on student note quality in the principles of microeconomics classroom. We compare note quality of students who received note-taking guidance to those who did not. We find that students who received guidance have significantly better quality notes than those who did not.

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Does Blended Learning Improve Student Grades? A Quasi-Experimental Study Jan 2024

Does Blended Learning Improve Student Grades? A Quasi-Experimental Study

Journal of Economics and Finance Education

This study evaluates the impact of blended learning on student performance using a differences-in-differences method. In a controlled experiment with two classes, each having two sections, all sections initially used face-to-face teaching. After midterm 1, one section from each class transitioned to blended learning. The differences-in differences method analyzed students' performance on both midterms, with midterm 2 covering material taught through blended learning in the treatment group. Results indicate a non-significant increase in midterm 2 grades for the treatment group.

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A Shadow Federal Open Market Committee Exercise: A Semester-Long Approach To Teaching Monetary Macroeconomics In Real Time Jan 2024

A Shadow Federal Open Market Committee Exercise: A Semester-Long Approach To Teaching Monetary Macroeconomics In Real Time

Journal of Economics and Finance Education

This paper describes a real-time, semester-long approach to helping upper-level undergraduates understand real-time decision-making by the Federal Open Market Committee. The exercise, which culminates in an end-of-semester “shadow” FOMC meeting that corresponds in time to an actual FOMC meeting (in May or December), is intended to illustrate (1) how the open-market committee incorporates real-time data as they unfold between meetings (2) how the real-life conduct and voting membership of the FOMC may differ from what is described in a typical textbook, and (3) that voting FOMC members are real people with different perspectives and backgrounds that inform their decisions.

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Enhancing Student Engagement: The Synergy Of Peer Assessment And Flipped Classroom Design Jan 2024

Enhancing Student Engagement: The Synergy Of Peer Assessment And Flipped Classroom Design

Journal of Economics and Finance Education

Grounded in student-centered teaching practices, we investigate the synergy of peer assessments and flipped classroom design in an economics course specifically developed for incoming MBA students. This innovative approach was implemented for two consecutive terms. Survey results show that students have a positive view of this integrated approach. It enhances their engagement and improves their knowledge and skills by providing constructive feedback. Additionally, this combination helps students improve their assessment skills.

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The Effect Of Risk-Free Rate And Expected Market Return On Corporate Over- And Under-Investment Jan 2024

The Effect Of Risk-Free Rate And Expected Market Return On Corporate Over- And Under-Investment

Journal of Economics and Finance Education

We examine how the risk-free rate (RF) and market risk premium (MRP) affect capital budgeting. While theory recommends adjusting hurdle rates for project-specific risks, many CFOs apply a single discount rate. Using graphical analysis, we show how market shifts impact investment. A decrease in RF combined with an increase in MRP – reflecting greater risk aversion – exacerbates underinvestment for firms with beta < 1 and overinvestment for those with for beta > 1 when the original WACC is applied. If only MRP increases, overinvestment intensifies. This study highlights the interplay between market variables, especially relevant for finance students and future CFOs.

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Automated Feedback For Formative Excel Assignments Jan 2024

Automated Feedback For Formative Excel Assignments

Journal of Economics and Finance Education

No abstract provided.

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Amortization Tables With Loan Prepayments Jan 2024

Amortization Tables With Loan Prepayments

Journal of Economics and Finance Education

This paper presents an Excel-based learning exercise to build amortization tables with mortgage prepayments. Periodic and one-time prepayments are considered. Students analyze how the application of prepayments changes the cost and term of a mortgage. Essential financial literacy and spreadsheet skills that are highly valued by households and employers are demonstrated in this exercise.

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Using Rap Music To Teach Economic Concepts Jan 2024

Using Rap Music To Teach Economic Concepts

Journal of Economics and Finance Education

Music is an accessible vehicle by which to convey economic concepts to students. In this article, a framework is presented by which to introduce three broad economic concepts using examples from rap music, currently the most-listened-to genre of music.

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The Value Of The 1-Hour Credit Course: Evidence From An Interdisciplinary Course On Financial Literacy Jan 2024

The Value Of The 1-Hour Credit Course: Evidence From An Interdisciplinary Course On Financial Literacy

Journal of Economics and Finance Education

The purpose of this paper is to explore the potential benefits of one-hour courses by examining the design and learning outcomes of an interdisciplinary course, Financial Literacy for Entrepreneurs. The course served 52 students from a variety of majors. Qualitative evidence suggests that students found the course enjoyable and useful. In addition, quantitative evidence from course pre-tests and post-tests suggests significant gains in student learning. Our findings indicate that one-hour courses represent a valuable alternative to traditional course design.

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Starting With Substance: An Economics Icebreaker For The First Day Of Class Jan 2024

Starting With Substance: An Economics Icebreaker For The First Day Of Class

Journal of Economics and Finance Education

This paper presents an economics-focused icebreaker activity designed for the first day of class in microeconomics or macroeconomics courses. The activity engages students in a hands-on exercise illustrating key economic concepts such as incentives, equilibrium, and emergence. By lining up according to height without verbal communication, students experience how individual actions and simple rules can lead to an organized outcome, demonstrating the Austrian economics idea of spontaneous order in markets. This activity energizes the classroom and lays the foundation for a deeper exploration of economic principles.

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How Business Schools Can Address Gender Gap In The Finance Profession: A Mission-Driven Undergraduate Student-Managed Investment Program Jan 2024

How Business Schools Can Address Gender Gap In The Finance Profession: A Mission-Driven Undergraduate Student-Managed Investment Program

Journal of Economics and Finance Education

This paper proposes a way to address gender gap in the finance profession through the Investment Challenge program. The survey results reveal that the perception toward pursuing a career in Finance among female high school students positively changes after completing the Investment Challenge. After participating in the Investment Challenge program, the survey respondents have expressed a significantly stronger belief that they can succeed professionally if they choose a career in Finance, and this result is more pronounced among female high school students. The proposed program offers a proactive solution to the gender gap challenge in finance at its roots.

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Teaching Recessions In Macroecconomics With A Severity Index Jan 2024

Teaching Recessions In Macroecconomics With A Severity Index

Journal of Economics and Finance Education

With concepts and data familiar to macroeconomics students, at both the principles and intermediate levels, this paper constructs a recession severity index and calculates this index for the twelve recessions experienced in the United States since the end of World War II. We reach two primary conclusions. First, and perhaps as anticipated, we find that the Great Recession was the most severe contraction since the Second World War. Second, we conclude that the least severe recession since World War II was that which occurred in 2001.

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Graphical Analysis Of Consumer Behavior In The Market For Health Care Jan 2024

Graphical Analysis Of Consumer Behavior In The Market For Health Care

Journal of Economics and Finance Education

The typical undergraduate textbook in health economics illustrates the production of health and then discusses the purchase of health care and its demand. This paper provides a unique four-quadrant graphical model linking the production of health to the consumption of health care. We show how an individual’s purchase of health care links to their optimal health status and consumption possibilities frontier between health status and all other goods. We then apply our model to a change in the price of health care, an illness such as COVID-19, and the purchase of health insurance.

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Learning About Data Sources Through The Dataset Presentation Jan 2024

Learning About Data Sources Through The Dataset Presentation

Journal of Economics and Finance Education

Economics has become an increasingly data-driven, empirical discipline. Alongside this, the advantages of undergraduate research have become more appreciated. These trends merge with students employing empirical techniques in undergraduate research. An active literature has developed on how to implement this. This paper addresses a potential hold-up for undergraduates that has received little attention: how to acquaint students with major data sources. To accomplish this, we provide an assignment (prompt, list of data sources by difficulty, and grading rubric) in the form of a short, data-driven presentation designed to have students learn, acquire, and work with a publicly available dataset.

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Designing, Implementing, And Assessing A Financial Education Program At A Minority Serving University In The U.S. Jan 2024

Designing, Implementing, And Assessing A Financial Education Program At A Minority Serving University In The U.S.

Journal of Economics and Finance Education

This study assesses a tailored financial literacy program aimed at fostering financial inclusion and reducing the equity gap among minority populations in the U.S. at a large minority-serving university in an economically disadvantaged area. A needs assessment survey of 659 students informed the development of the program covering several personal finance topics. Using 404 completed surveys and a mixed methods approach, results indicated significant improvement in financial knowledge, confidence, and goal attainment with notable differences in perceptions between Hispanic and non-Hispanic participants. The results highlight the need and importance of customized financial education for minority populations.

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Effects Of Intermediate Finance Course Timing On Performance Jan 2024

Effects Of Intermediate Finance Course Timing On Performance

Journal of Economics and Finance Education

We study the effect of course timing and sequencing on performance of students taking intermediate corporate finance at a certain university. Controlling for student attributes, grades in intermediate and post principles overall were better if students had completed 1) investments and 2) financial markets and institutions, while the delay between completion of principles and intermediate was associated with reduced performance. The former effect appears to dominate. The relations tend to be stronger for students who entered the university as transfer students and for other specific populations. The population-specific results support a role for advising tailored to specific student characteristics and …

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Ppf, Institutions, And Economic Growth Jan 2024

Ppf, Institutions, And Economic Growth

Journal of Economics and Finance Education

This paper attempts to use Production Possibilities Frontier (PPF) framework to explain how right (i.e., efficient) institutions help promote economic growth. Conceptually, economic growth can be illustrated in graph by outward shift of the PPF over time. And the right institutions warrant that an economy would normally operates on, or at least close to, the PFF, and in the long run it would gradually push the PPF outward through accumulation of physical and human capital and adoption of more advanced technology.

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Circular Economy: The 4rs Reduce-Reuse-Recycle-Recover, Kevin Hom Jan 2024

Circular Economy: The 4rs Reduce-Reuse-Recycle-Recover, Kevin Hom

Publications and Research

This article summarizes the lecture presented at the Net Built 2024 conference. The lecture addresses the unsustainability of the current linear economy, characterized by the "take, make, dispose" model, in light of environmental challenges. The inefficiencies of this system lead to increased energy consumption, elevated CO2 emissions, and the exacerbation of climate change. It examines the current state of design and construction with respect to climate change and sustainable resource management. Additionally, the lecture introduces a methodology that integrates technologies and design philosophies capable of driving significant positive change. By advocating for a transformative approach to the expected lifetime of …

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Dampak Kesenjangan Jam Bekerja Terhadap Ketimpangan Upah Di Jabodetabek Selama Pandemi Covid-19 Tahun 2020, Sophia Lailil Jannah, Ariska Nurfajar Rini Jan 2024

Dampak Kesenjangan Jam Bekerja Terhadap Ketimpangan Upah Di Jabodetabek Selama Pandemi Covid-19 Tahun 2020, Sophia Lailil Jannah, Ariska Nurfajar Rini

Jurnal Ekonomi dan Pembangunan Indonesia

This study aims to analyze the differences in working hours of male and female workers on the wage gap during the Covid-19 Pandemic in Jakarta, Bogor, Depok, Tangerang, and Bekasi (Jabodetabek) area in 2020 using the Ordinary Least Square (OLS) and the Blinder-Oaxaca Decomposition. Utilizing the National Labor Force Survey (SAKERNAS) 2020, the results showed that working hours positively and significantly affected wages with a coefficient of 4.72% for male workers and 7.05% for female workers. The Blinder-Oaxaca decomposition proved that working hours contribute to reducing the wage gap because there is wage convergence due to reduced working hours during …

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Analisis Dampak Program Bantuan Pangan Non-Tunai Terhadap Pengeluaran Konsumsi Rumah Tangga Pertanian Di Maluku, M. Rismawan Ridha, Rumayya Rumayya Jan 2024

Analisis Dampak Program Bantuan Pangan Non-Tunai Terhadap Pengeluaran Konsumsi Rumah Tangga Pertanian Di Maluku, M. Rismawan Ridha, Rumayya Rumayya

Jurnal Ekonomi dan Pembangunan Indonesia

Poor households in the agricultural sector belong to a group with high food insecurity. As one of the instruments in overcoming the problem of food insecurity, Non-Cash Food Assistance (BPNT) provides social assistance to the poor to purchase adequate and nutritious food. This study aims to analyze the impact of BPNT on the expenditure of poor households in the agricultural sector in Maluku province. Using the Propensity Score Matching analysis on March 2020 Susenas data, the results show that BPNT significantly influences increasing food expenditure but not total expenditure.

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Keunggulan Kompetitif Produk Pangan-Pertanian Asean-5 Selama 20 Tahun: Perubahannya Melalui Krisis, Reninta Dewi Nugraheni, Kanetasya Sabilla Jan 2024

Keunggulan Kompetitif Produk Pangan-Pertanian Asean-5 Selama 20 Tahun: Perubahannya Melalui Krisis, Reninta Dewi Nugraheni, Kanetasya Sabilla

Jurnal Ekonomi dan Pembangunan Indonesia

This study aims to assess the competitive advantage of foreign trade in agri-food products of five Association of South East Asia Nations (ASEAN) countries, namely Indonesia, Malaysia, Thailand, Singapore, and the Philippines between 2003–2022 by dividing the period into the global crisis in 2009, the trade war between China and the United States (US) in 2018, and the COVID-19 pandemic in 2020. The study built an econometric model using the Revealed Comparative Advantage (RCA) and Revealed Symmetric Comparative Advantage (RSCA) indicators. It was found that the value of the RSCA distribution for the five countries has changed significantly over the …

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Pengaruh Persaingan Politik Terhadap Anggaran Kesehatan: Studi Kasus Pada Kabupaten Dan Kota Di Indonesia, Sri Runtiningsih, Akhmad Akbar Susamto Jan 2024

Pengaruh Persaingan Politik Terhadap Anggaran Kesehatan: Studi Kasus Pada Kabupaten Dan Kota Di Indonesia, Sri Runtiningsih, Akhmad Akbar Susamto

Jurnal Ekonomi dan Pembangunan Indonesia

This study aims to analyze the effect of political competition on health budgets in Indonesia. The analysis was conducted using a fixed-effects panel data regression approach for Indonesia’s regencies and municipalities between 2009 and 2019. To obtain robust results, this study uses three different measures of political competition, namely the Multiparty Margin Index, the Herfindahl-Hirschman Index (HHI), and the Effective Number of Parties (ENP) Index. The estimation results show that only legislative political competition has a significant and consistent negative effect on the health budget, it is similar to the Leviathan Model theory.

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(Wp 2024-01) Douglass North, New Institutional Economics, And Complexity Theory, John B. Davis, Mauro Boianovsky Jan 2024

(Wp 2024-01) Douglass North, New Institutional Economics, And Complexity Theory, John B. Davis, Mauro Boianovsky

Economics Working Papers

Douglass North was central to the emergence of New Institutional Economics. Less well known are his later writings where he became interested in complexity theory. He attended the second economics complexity conference at the Santa Fe Institute in 1996 on how the economy functions as a complex adaptive system, and in his 2005 Understanding the Process of Economic Change incorporated this thinking into his argument that market systems depend on how institutions evolve. North also emphasized in the 2005 book the role belief played in evolutionary processes, and drew on cognitive science, especially the famous ‘scaffolding’ idea of cognitive scientist …

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Tax Streams, Land Rents, And Urban Land Allocation, Yugang Tang, Zhihao Su, Yilin Hou, Zhendong Yin Jan 2024

Tax Streams, Land Rents, And Urban Land Allocation, Yugang Tang, Zhihao Su, Yilin Hou, Zhendong Yin

Center for Policy Research

This paper examines the fiscal motives behind municipal governments' decisions to allocate commercial and residential land when two categories of land use are subject to different fiscal revenue alternatives: business-related tax and/or land rent. We use urban parcel-level land transfers during China’s peak period of urbanization, match commercial parcels with residential parcels, and find significant price discounts on commercial parcels relative to adjacent residential parcels. The observed discounts arise from the future tax flows from commercial use, i.e., expected taxes from developed commercial land reduce its transfer price. We conduct a structural estimation to examine the implications on land use …

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Ledroit Park Photograph Collection, Jaclynn Martin Jan 2024

Ledroit Park Photograph Collection, Jaclynn Martin

Prints and Photographs Department

The LeDroit Park Photograph Collection is a limited edition of ten (10) 12" x 12" gelatin silver print photographs capturing the revitalized LeDroit Park and its surroundings, taken in 2003 by Steven M. Cummings. The LeDroit Park Initiative, spearheaded in the late 1990s by then-Howard University President H. Patrick Swygert and Ms. Jamie Gorelick, Vice Chair of the Federal National Mortgage Association (Fannie Mae), aimed to renovate and redevelop Howard University-owned properties within the LeDroit Park area. The initiative also explored innovative mortgage rates and payment assistance programs to enhance homeownership opportunities for the university-affiliated and neighboring community. Notably, the …

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Immigration Level And Its Impact On The United States Labor Market Tightness, Khai Quy La Jan 2024

Immigration Level And Its Impact On The United States Labor Market Tightness, Khai Quy La

Honors Theses

This research investigates the complex interplay between immigration labor and market equilibrium in the United States, focusing on the period from 2000 to 2019. By examining the correlation between the rate of net international migration and the unemployment-to-vacancy ratio (U/V) across 51 states, the study uncovers significant relationships that shed light on immigration dynamics in response to labor market conditions. The findings support the hypothesis that a decrease in the U/V ratio leads to an increase in immigration in the following period as immigrants seek improved job employment prospects.

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The Populist Wave: Unpacking The Global Drivers Of 21st Century Right-Wing Populist Support, Ellie Fallon Jan 2024

The Populist Wave: Unpacking The Global Drivers Of 21st Century Right-Wing Populist Support, Ellie Fallon

Honors Theses

This thesis investigates the underlying causes of the global rise in right-wing populism support in the twenty-first century. I will examine both the origins of these shifts in public opinion and their consequences for political systems and global interactions. My analyses will take two forms: (1) a cross-national analysis of the rise in right-wing populism in 34 of the 38 member states of the Organization for Economic Cooperation and Development (OECD) to explore the demographic factors that exhibit a relationship with populist attitudes and (2) case studies of right-wing populism in the contemporary United States (with particular attention to former …

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Trading Perspectives: The Impact Of Gender In Shaping National Trade Policies, Katherine Kwiatkowski Jan 2024

Trading Perspectives: The Impact Of Gender In Shaping National Trade Policies, Katherine Kwiatkowski

Honors Theses

Economic and political factors have been shown to influence the trade policy decisions of national leaders. The impact of a national leader’s gender on their trade policy preferences remains an underexplored area of research. The increasing share of female national leaders raises the question of whether their policy preferences vary from those of male leaders because of their gender. In this study, I utilize the gender of a nation’s leader to implement a two-way fixed effects regression that analyzes the impact of gender on a leader’s trade policy preferences. Controlling for factors that could also impact a leader’s trade policy …

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