7739 research outputs found
Sort by
Advancing the Introduction to Both Narratives of Aggregate Output: A New Model
No full textThere are two prominent theoretical perspectives on the determination of aggregate output: The general equilibrium perspective and the reactive, circular flow perspective that relates economic activity instigating further activity. The former replaced the latter as the dominant view within macroeconomics over 30 years ago, but the lack of general equilibrium models (i.e., dynamic stochastic general equilibrium models) suitable for undergraduates has kept such models out of the undergraduate curriculum. This paper presents a model that captures both narratives within the same model environment that makes their fundamental theoretical differences manifestly clear in a way that is accessible to undergraduates
Excel Templates for Illustrating TVM Calculations and a Financial Calculator with Associated Excel Functions
No full textTime value of money calculations are illustrated through developing a timeline with cash flow graphics in Excel. The graphic is readily adjustable to different scenarios making it useful for multiple time value of money topics (e.g., NPV, MIRR, etc.). Further, a second graphic illustrates a financial calculator that also provides the associated Excel functions. Both graphics can be used in the live or virtual classroom and as a resource for students outside of the classroom
Operating a Student-Managed Investment Fund in a Small Class Setting
No full textThe student managed investment fund (SMIF) at Midwestern State University was founded in 2010 and offers students an experiential learning opportunity. This article discusses its operational structure, investment policies, and strategies. It also discusses efforts to motivate students to run the SMIF as a productive team
Modeling Bond Immunization Outcomes with User Defined Functions
No full textThis paper presents a new assignment that teaches students how to create user-defined functions in Visual Basic for Application (VBA) to model bond immunization outcomes. Students learn how to create five user defmed functions that calculate bond price; duration; the number of bonds required for immunization; the future value of semi-annual coupon payments reinvested at six-month Treasury rates; and the street price of a bond at duration using the daily compounding method for accrued interest between bond payments. This assignment helps students understand the effects of monetary policy on bond immunization strategies and strengthens Excel skills, which is desirable to employers
#ECON1950: Integrating Twitter and a Learning Management System to Reach Students Outside the Classroom
No full textA course-specific Twitter hashtag can be used to categorize tweets related to course material. Embedding a Collection of these tweets within a Learning Management System course page is an easy way to share this information with students. A guide to embedding a twitter feed within Moodle, Canvas, and Blackboard Learn is provided. Examples of how Twitter can be used to share information to students in a Macroeconomics course are provided. Student survey results indicate that most students agreed that the Twitter feed helped connect the course material to examples, was worthwhile, and stimulated their interest in economics
Affordit Raises Private Equity: The Choice Between Venture Capitalists or Business Angels
No full textAffordit, a fintech startup, was raising private equity and needed to choose between raising capital from a venture capital firm or from business angels through a private placement memorandum. Accepting the terms from a venture capital firm would allow the founder to focus on running Affordit. Raising equity through a private placement would be more time intensive, as it required building a network of accredited investors aligned with founder\u27s vision for growth. The case offers students an opportunity to compare the terms of a private placement memorandum to a venture capital term sheet for an early-stage, high growth company
The Minimum Variance Portfolio, the Tangency Portfolio, and the Associated Matrix Algebra
No full textThe matrix algebra associated with finding minimum variance portfolio weights and tangency portfolio weights is greatly simplified by using an Excel presentation. A further simplification of the tangency portfolio weights process is also presented using excess returns for the risky securities. The lesson drawn from this presentation is readily performed online by sharing or recording an Excel screen with students
Introducing the Risk Parity Portfolio Optimization Approach to Students: A Note
No full textStudents have been well exposed to Markowitz’s (1952) Mean-Variance Optimization (Modern Portfolio Theory). Nevertheless, its subpar performance during the 2008 global financial crisis exposed it to significant criticism. As a result, a different strategy known as Risk Parity has attracted significant attention. Over the years, Risk Parity methods have gained popularity as investment solutions. As discussed in Fabozzi, Simonian, and Fabozzi (2021), estimates from Neuberger Berman, the total value of assets being managed using Risk Parity strategies is approximately 400 billion-$500 billion. The popularity of this methodology has spurred the creation of an index series of Risk Parity by S&P, which is used to benchmark equally weighted parity strategies (Liu, Brzenk and Cheng 2020). Due to the increase in popularity and utilization of Risk Parity, it is important for students to be introduced to this alternate optimization technique. This note exposes students to the concept of Risk Parity, discusses its potential strengths and weaknesses and demonstrates its use over the period 1990-2023, using annual data and comparing it to a 60/40 stock/bond portfolio
AI Teaching Assistants in Higher Education: A Case Study in Pedagogical Integration and Support
No full textThis case study examines the implementation of three customized AI teaching assistants in a graduate quantitative methods course for adult learners. Designed to provide timely, course-specific support, the AI tools enhanced student engagement, upheld academic integrity, and aligned with pedagogical principles such as constructivist learning and formative assessment. The assistants were evaluated on the accuracy of their responses and compliance with behavioral requirements. Student feedback indicated improved learning and reduced frustration. This study offers a replicable model for responsibly integrating AI in higher education to support diverse learner needs and promote academic success
Climate On Trial: Scientific Attribution and The Evolution Of Legal Causality
No full textThe primary aim of this thesis is to carve out conceptual space in epistemology and jurisprudence for attribution science, which seeks to establish links between climate change and natural disasters. Understanding these connections is critical because climate change amplifies the severity and frequency of extreme events. However, determining whether individual disasters are attributable to anthropogenic climate change is inherently complex, introducing uncertainties that raise philosophical and legal questions. A growing application of attribution science is in climate litigation, where its findings serve as evidence linking individual actions to environmental harm. For example, in Juliana v. United States (2023), the plaintiffs argued that the U.S. government’s failure to mitigate climate change violated constitutional rights by increasing citizens’ vulnerability to extreme events. My research will explore whether climate models can provide reliable forensic evidence for such claims despite their inherent uncertainties and value-laden judgments. First, I examine the history of climate science and the mechanisms of data analysis, experimentation, and records of climate change that have given rise to attribution science. Second, I will give an analysis of attribution science and its several forms. Third, I offer a justification for attribution science’s use in law, grounded in existing standards of evidence for legal causality. Fourth, I will offer an analysis of the epistemological limitations of attribution science and demonstrate why they do not prevent the application of attribution science in law