Educational technology in economics instruction
Yükleniyor...
Tarih
2015
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Elsevier Science Bv
Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
In this paper, we will show, in the context of a "market equilibria" example, how the use of educational technology associated with system dynamics makes it possible for instructors to teach undergraduate students topics of economic structures/processes involving nonlinearity, stochasticity, non-differentiability and discontinuity. We present three submodels/subcases associated with the example. In the first model, we have continuous and continuously differentiable linear demand and nonlinear supply functions for a good. Each function involves a stochastic term. In the second model, we do not have a continuous and continuously differentiable demand function but only a demand schedule. The supply function is a continuous nonlinear function of price. In the third model, we have interrelated markets for two goods with discontinuous stochastic demand and nonlinear stochastic supply functions. In all cases, we use system dynamics to find, in a very simple and user-friendly manner, the dynamic equilibrium paths and hence dynamic equilibria in the markets in question.
Açıklama
5th International Conference on New Horizons in Education (INTE) -- JUN 25-27, 2014 -- Paris, FRANCE
WOS:000383740200079
WOS:000383740200079
Anahtar Kelimeler
economics instruction, system dynamics, market equilibria
Kaynak
International Conference on New Horizons in Education, Inte 2014
WoS Q DeÄŸeri
N/A
Scopus Q DeÄŸeri
Cilt
174
