Publication: Journal of Economic Education
Volume: Forthcoming
Issue: Forthcoming
Pages: Forthcoming
Author(s): Dennis Kaufman (University of Wisconsin-Parkside) and Rebecca S. Kaufman
Address (Principal Author):Dennis Kaufman
900 Wood Road, Box 2000
Kenosha, WI
fax: 262-595-2120, office phone # 262-595-2192
Internet Address (Principal Author): kaufman@uwp.edu
Title: Interactive Web Graphs for Economic Principles
URL: http://www.uwp.edu/academic/economics/kaufman/kaufman.html
Descriptive Note: When lecturing on economic principles, a professor typically draws a graph on the chalkboard, explains its construction, and then uses the graph to analyze the effects of various changes in the model's parameters or variables. Because the classroom explanation and graphical manipulations usually happen only once, the logical progression and development of the economic model can be very difficult for students to replicate in their lecture notes. Textbooks are limited to written explanations and static illustrations; they cannot capture or animate the step-by-step dynamics of an economic model and its application. By manipulating elements of Web-based interactive graphs and receiving immediate feedback, students can "see" and understand basic economic principles. Students can repeat each model's dynamics on their own as many times as necessary to comprehend the economic principle. This "hands-on" approach to working with economic models facilitates the development of analytic and deductive reasoning skills. Animation and interactivity combine with the accessibility of the Web to create a greatly improved learning environment.
The ThinkEconomics Web site contains interactive graphs that analyze and explain changes in supply and market equilibrium, the construction of the long run average cost curve, short run profit maximization for a perfectly competitive firm, long run market equilibrium under perfect competition, changes in aggregate demand and aggregate supply, and, monetary and fiscal policy in the aggregate demand and aggregate supply model (and with a money market graph). Students can control animation, drag curves, make choices, observe results, and receive feedback. The graphs require the installation of the Flash(tm) plug-in. Because of the vector capabilities of Flash(tm), the graphs range from 14K to 61K in size and load quickly even without a broadband connection.
The graphical and interactive possibilities of Web-based content can advance the teaching and learning of economics and benefit both faculty and students.
Forthcoming Accepted Web Sites
Online Section
Journal of Economic Education WWW Page