Using FRED Data to Teach Price Elasticity of Demand

Autor/inn/en	Méndez-Carbajo, Diego; Asarta, Carlos J.
Titel	Using FRED Data to Teach Price Elasticity of Demand
Quelle	In: Journal of Economic Education, 48 (2017) 3, S.176-185 (10 Seiten)Infoseite zur Zeitschrift PDF als Volltext Verfügbarkeit
Sprache	englisch
Dokumenttyp	gedruckt; online; Zeitschriftenaufsatz
ISSN	0022-0485
DOI	10.1080/00220485.2017.1320607
Schlagwörter	Economics Education; Teaching Methods; Supply and Demand; Concept Teaching; Information Utilization; Statistical Data; Class Activities; Assignments; Marketing; Higher Education + Suchen Sie Ihr Suchwort? Wirtschaftskunde; Teaching method; Lehrmethode; Unterrichtsmethode; Bedarfsplanung; Informationsnutzung; Assignment; Auftrag; Zuweisung; Hochschulbildung; Hochschulsystem; Hochschulwesen
Abstract	In this article, the authors discuss the use of Federal Reserve Economic Data (FRED) statistics to teach the concept of price elasticity of demand in an introduction to economics course. By using real data in its computation, they argue that instructors can create a value-adding context for illustrating and applying a foundational concept in economics. Additionally, this pedagogical strategy contributes to developing an expected proficiency for economics majors related to "interpreting and manipulating data" (Hansen 2009, 2012). The authors provide step-by-step instructions on how to use FRED to compute the price elasticity of demand for motor vehicle fuels and gasoline as well as examples of in-class discussion questions and take-home assignments related to this instructional technique. (As Provided).
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Erfasst von	ERIC (Education Resources Information Center), Washington, DC
Update	2020/1/01