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Brain-Type, Gender, and Student Success in the Principles of Economics
No full textStudies of the impact of gender on student performance in the principles of economics yield ambiguous conclusions. Some studies find that women are less successful than men in the principles of economics, while others conclude that gender is inconsequential. Few, if any, scientific works find women’s performance better than men’s performance. These ambiguities arise because past studies have not considered the distribution of brain-types by gender. This paper addresses the question of which brain-types are more successful in the principles of economics and whether these brain-types can be associated with a particular gender
Using Bloomberg Real-time Data and Analytics to Teach Economics and Finance
No full textThis paper shows the benefits of incorporating the Bloomberg terminal in teaching economics and finance classes. The Bloomberg terminal differs from traditional teaching methods by bringing students into the laboratory of the real world through the use of real-time data and news to reinforce and to apply his/her knowledge of theory and institutions. A methodical way of using this technology in teaching economics and finance electives is discussed. Results suggest that using the Bloomberg terminal makes student comprehension of theoretical and applied material deeper. Moreover, their performance in other classes, internships and jobs suggests that this approach improves retention
Demystifying Free Cash Flow Valuation
No full textIn this paper we provide a straightforward framework for valuing firms. Students and even practitioners often struggle with the details of the valuation process as commonly presented in finance textbooks. Using a numerical case example, we highlight some of the fundamental but often misunderstood valuation concepts. First, we discuss the connection among major cash flow identities. Next, we demonstrate the use of the adjusted present value approach to perform firm valuation. When the capital structure is non-constant, the adjusted present value method yields more accurate results than the traditional valuation model that uses the weighted average cost of capital
Ways of Teaching Public Choice: Introduction to the Symposium
No full textThis symposium intends to shed light on distinctively public choice approaches to economic education. This introductory essay provides an overview of this symposium and its contributors. We first provide our rationale and motivation for assembling the special issue. We then describe the papers and their interactions
Political Failure in the Short- and Long-Run
No full textThis paper reviews the use of public choice throughout my principles of macroeconomic course. I highlight the numerous avenues that public choice can be used to explain macroeconomic policies and their consequences. These include fiscal, monetary, and trade policy and economic growth and development. By emphasizing the self-interested behavior of public officials, public choice can illuminate both shortand long-run macroeconomic outcomes
Choosing Political Rules under Rule Utilitarianism: Constitutional Political Economy and the Moral Foundations of Capitalism
No full textEconomics is positive analysis. Undergraduates, however, are ultimately interested in economics because it informs normative worldviews. Many undergraduates begin, at least implicitly, with consequentialism (and, more specifically, utilitarianism) as an ethical framework. Principles-level analysis informs what Yeager (2001) refers to as act utilitarianism, but exploring broad political ethical questions with act utilitarianism is problematic. I argue that the alternative rule utilitarianism is preferable and can be informed by a constitutional political economy analysis. I give examples based on Buchanan and Tullock\u27s (1962) framework for considering government decision-making rules
Finding the Efficient Frontier: An Exercise for Finance Students
No full textFinance 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
Honor Codes and Perceptions of Cheating
No full textTo 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
Using Bloomberg Terminal in Corporate Finance Courses
No full textIn 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
Incorporating the Bloomberg Professional Terminal into an Introductory Finance Course
No full textThis paper addresses a gap in the financial education literature regarding the use of the Bloomberg Professional Terminal in the classroom. As more and more Bloomberg Terminals find their way into colleges and universities, finance academics have responded by highlighting how the Bloomberg Terminals can be incorporated into upper level finance and economics courses. Unfortunately, a gap has been created as these papers do not address the use of the Bloomberg Terminal in introductory finance courses. This paper will provide a series of examples that provide the scaffolding needed to incorporate the Bloomberg Terminal into an introductory finance course